68 $ is dirt cheap for a barrel of oil

it will go back to 100$ anytime

its summer driving season after all!

I don't remember a lot of liberals or the media blaming Bush for the increase in oil prices. The elections were in full swing at the time, and W. was doing his best to keep his head down and spare the Republicans any further embarassment.

Most people I know where upset by the tax breaks Big Oil was being given on oil leases in the Gulf of Mexico and talk of opening more territory for exploratory drilling. However, most upsetting was the fact that as oil prices soared Big Oil was posting record profits, i.e. profiting at everyone elses expense.

Originally posted by War Otter
I don't remember a lot of liberals or the media blaming Bush for the increase in oil prices. The elections were in full swing at the time, and W. was doing his best to keep his head down and spare the Republicans any further embarassment.

Most people I know where upset by the tax breaks Big Oil was being given on oil leases in the Gulf of Mexico and talk of opening more territory for exploratory drilling. However, most upsetting was the fact that as oil prices soared Big Oil was posting record profits, i.e. profiting at everyone elses expense.

I did - ME HERE!!!

I sure did!!!

Still stinks to high heaven!

Originally posted by TheInfamousOne

The Republicans had their hands on the power switch for far to long, obviously republicans are disgruntled that they lost power. What a bunch of repressed cry babies.


Barracks in office because the worst President in US History helped him get elected. Thank you Bush for screwing things up so bad that you ruined the republican party.

HAHA Agreed. although Bush was only doing what his dad wanted him too you can't blame him completely.. lol

Lets hope Obama doesn't screw up too much

Oil and gas prices always go up over Memorial day. It is the demand of summer travel. Part of the gas usage rhythem. This is the gas companies taking advantage.

It was called that the prices would go back up, months before Obama took office. Experts said that it will go back up and the decline, and to not get comfy.

Under Bush, the prices went abnormally high, tripling themselves, unseasonably. Which is why people considered it Bush's fault.

They should use all the extra money we spend on gas and get us out of debt...Gas is going to fluctuate no matter who we have as our president...It is inevitable.....If they would use the technology they already have and make magnetic cars we wouldnt have to worry about all this now would we? lol...Which by the way is possible...ever heard of the Venus project?

the gas prices are mostly a function of WALL STREET and the oil futures market. notice that when everyone started panicing and pulling out of the stock market in floods, oil prices tanked, and subsequently, prices dropped? Ask people who understand that market.. the fat cats and 'investors' were artificially driving up the price of oil on teh market so they could turn a buck.

Originally posted by mental modulator

Originally posted by RRconservative
Whenever oil prices went up under Bush, lefties were always quick to point out how Bush was taking care of his oil buddies.

Well same could be said for you - Where were you when I was paying $5.50 a gallon???

Seriously you want an answer just answer yer own question.

The reason Bush got much crap is because of things like the "CONDOLEESA RICE"

The double-hulled giant, Condoleezza Rice, is part of the international tanker fleet of the San Francisco-based multinational oil firm, named several years ago in honor of Rice when she was a Chevron board member and stockholder.

Rice, the former Stanford University provost, served on Chevron's board from 1991 until Jan. 15, when she resigned after President Bush named her to the national security post.

Now if there is an OIL TANKER named BIDEN, CLINTON or OBAMA OSAMA then you have a valid question.

$5.50 a gallon?....even at the peak of gas prices I never paid over $4.10. You must live in a very Blue State.

So a private firm wanted to honor Condi Rice? Good for them....ever heard of the 1st Amendment? Why in the blue heck would they ever consider honoring the enemies of American oil indepenence, like Biden, Clinton or Obama? That would be like PETA naming a scholarship after Ted Nugent.


edit: after the fact I realized you were from California.....very Blue indeed.



[edit on 8-6-2009 by RRconservative]

Do you know why?

To answer that you need to know why the stock market's been growing.

The reason for the stock market growth is corporate leaders inflating the market to make it look good so that you will have spent every last dollar when the market really crashes. Due to this inflation, the dollar becomes inflated and gasoline prices increase accordingly.

Originally posted by RRconservative
...the enemies of American oil indepenence, like Biden, Clinton or Obama?...
[edit on 8-6-2009 by RRconservative]

Energy independence is a Republican myth. It is strange that the Republicans, the intiators and defenders of globalizing the economy, would even talk about independent anything. Perhaps they are just pandering to the masses.

The U.S. only produces about 8% of the oil it needs. Moving towards energy independence will only cause us to use a finite resource faster. Eventually, it will leave us totally dependent on foreign sources, and not just for energy, but for all sorts of industrial applications, such as plastics.

I, also, just love McCain's favorite line, "We spend 700 billion dollars a year, with people who don't like us very much." If this is the case, we should arm the border with Canada. They sell us about 30 percent of our oil. Or, maybe, we should invade Mexico? We get about 10 percent from them.

We only get about 10 percent of the oil we consume from "people who don't like us very much", e.g. the Middle East. However, the Middle East is a very important source of oil for our partners in globalization (Japan and the EU). This is why time and again, the Republicans commit American lives to wars for oil.

Yes, the Saudis cut oil production. No one was buying it that was why the price dropped. They needed to cut production, because the price was too low. It's what their entire economy is based on ever since the sand market went belly up.

I won't defend it, but I understand it.

The demand for oil is quietly decreasing worldwide. Reserves held out longer than anticipated with the economic downturn last years. Manufacturing almost everywhere is down a good 25% or more.

China has been hit hardest but will not admit it.

Countries that import all their oil would like to see the prices depressed as they've been. But OPEC and the industry will try to get it to somewhere not far below $100 per barrel.

The cost of getting it out of the ground and refining it has gone up dramatically in the last decade. Most wells are past peak and need tremndous amounts of water pressure to extricate the stuff.

Some countries lucked out in quality like Iran where is is lower grade and has a much lower market value.

Watch for some surprise new sources in the near future. Africa mainly.

Mike