gas and oil prices $1.27 a gallon and$38.70 a barrel
What has changed in the past 6-9 months to really explain this?
There isn't a huge reduction in demand. There isn't a huge surplus of supply.
There was a change from a Republican in the presidency to a Democrat. There has been a devaluation of the US Dollar. There has been a world Economic scare and a 40% drop in world stock market values.
One thing is sure .... mot families are seeing $150-300 or more in their pockets every month because of it.
That my friends will rebound this economy quicker than anything will IMO
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Quote:
ORIGINAL: stealthycat II
What has changed in the past 6-9 months to really explain this?
There isn't a huge reduction in demand. There isn't a huge surplus of supply.
There was a change from a Republican in the presidency to a Democrat. There has been a devaluation of the US Dollar. There has been a world Economic scare and a 40% drop in world stock market values.
One thing is sure .... mot families are seeing $150-300 or more in their pockets every month because of it.
That my friends will rebound this economy quicker than anything will IMO
Some inconsistencies there. Unless my calendar is more than 3 weeks off, there is STILL a republican in the White House, with a wanna-be soon-to-be giving press conferences. The devaluation of the U.S. dollar can be a cause, and it can also be attributed to decreased demand which (I beg to differ) has occurred once gasolene reached almost $5 a gallon. I predict a RISE in gas prices once the socialists take office...the prices will rise either because OPEC does not see an OBAMA presidency as having the kind of power needed to reign in OPEC, or it will happen because the Obama socialist regime will artificially hike gas prices domestically as part and parcel of another one of their social engineering quagmires-to-be. One thing is for sure....the dems will be shoving their hands back into our pockets once it all becomes 'official' in January....I'll say now, tho, they're emboldened to the point where it's not just a hand in our pocket...they're gonna try to shove the whole arm in there. Will you be so willing to puff up and crow about PEBO's failures 8 months from now, when it becomes apparent you've been sold a 'road apple' in place of a pot-o-gold ?
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Quote:
ORIGINAL: stealthycat II
Obama gained the office in Nov .... he's more involved in what Presidentially happens than GW does to be honest.
OPEC .... what have they done and where have they been with this $120+ plummet of oil prices?
US had a downturn in oil use .... but c'mon, worldwide it was insignificant and worldwide oil is still being used as much as it was 2 yearsago ....
Obama was elected, but he hasn't "gained the office" yet. He isn't President until January. He hasn't done anything "Presidentially" yet, except to establish the Office of the President-Elect, before he was officially "elected", something no other President-Elect has been brazen enough to do. And, just a little FYI... The downturn in oil/gas prices started well before he was elected... It's got NOTHING to do with Obama.
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Quote:
ORIGINAL: stealthycat II
Obama gained the office in Nov .... he's more involved in what Presidentially happens than GW does to be honest.
OPEC .... what have they done and where have they been with this $120+ plummet of oil prices?
US had a downturn in oil use .... but c'mon, worldwide it was insignificant and worldwide oil is still being used as much as it was 2 yearsago ....
While powerful, PEBO is not an office holder anymore. He's resigned from the Senate, and is not YET the
President of the United States. So, what office does he hold ?
While he may be acting more 'presidentially', he does so IN PREPARATION FOR his taking the oath of office and not as an acting President. There IS a difference here...I am surprised it has escaped you. So, he holds no office currently. The plummet of gasolene prices can be directly attributed to the devaluation of currency on a planetary scale (and domestically here in the USA) resulting in fewer automobile purchases, fewer airplane rides for vacationers, few boat rides for cruisers, and generally, a worldwide scarcity of credit and cash. Hard economic times put the kabosh on the price of oil on the international commodities market; speculators were keeping the price artificially high. SO, PEBO had just as much to do with the price of oil as Bush did, maybe less. Also, on a 'worldwide' scale, countries like IRAN and CHINA are no longer hoarding and stockpiling tanker-loads of oil waiting for the per-barrel price to go up. When the prices fell, they dumped their caches of crude on the world market, further contributing to the glut and reducing prices further. This had very little to do with Obama's election, IMO.
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
It has nothing to do with osama getting elected, the price here started dropping even before the election. I might also add that if osama doesn't do more as president that he has ever done at anything else, we won't see much impact from him at all. He is a non doer.
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Quote:
ORIGINAL: James B
the price here started dropping even before the election.
The prices started dropping even before the Democrat and Republican Conventions. The price peaked in mid-July. The DNC didn't occur until the end of August.
Anybody giving BO credit for lower oil/gas prices is spending a bit too much time with his crack-pipe...
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Ok, back to the original posters topic.......It proves just how much money OPEC, Exxon Mobil, Shell etc...made off of us for a few months. I'd like to see tham all swinging from the gallows.
RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
Quote:
ORIGINAL: stealthycat II
There isn't a huge reduction in demand. There isn't a huge surplus of supply.
There is currently a glut of oil on the market, check the commodities news. Demand by the largest oil consumer(US 25%) has indeed fallen, more people are dumping their guzzlers for econo-boxes and otherwise reducing their useage due to the high energy prices.
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There was a change from a Republican in the presidency to a Democrat.
Not until January.
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There has been a devaluation of the US Dollar.
Oil is priced in US dollars, as are all petroleum derivatives such as CNG, propane, etc. When the dollar declines so does the barrel price, but not enough to explain the precipitous drop. Fear of price controls could explain why the speculators were driven back though, and speculation is a major part of oil prices.
Quote:
There has been a world Economic scare and a 40% drop in world stock market values.
Energy prices affect far more than just the pump price for gas, they also dampen demand for products, thereby forcing companies to scale back production, and therefore reducing the value of stocks.
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One thing is sure .... mot families are seeing $150-300 or more in their pockets every month because of it.That my friends will rebound this economy quicker than anything will IMO
"Most families" must have been bathing in gas as well as putting it in the tank to be saving that much in a month, sounds like they were wasting too much to begin with on extraneous travel.
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RE: gas and oil prices $1.27 a gallon and$38.70 a barrel
so ya'll really don't believe a change from Republican to Democrat in the POTUS made a difference?
a glut of oil kevin1 ? 12 months ago there were huge shortages ...
If anyone thinks the $160 a barrel and $4.50 - $5.00 a gallon gas was anything more than a Republican/GW fleecing than I just don't see where you're at to be honest. World demand is still where its been the past few years with little change. OPEC knows whats being produced and they can control to a degree if they want to ...... to think they've ignored a "glut" piling up? please ........ no one believes that.
Oil isn't supply and demand ...... you do know that, right ?
gas and oil prices $1.27 a gallon and$38.70 a barrel
