What's happening to the oil market is exactly what Obama and his fellow socialists want.
By Mark Tapscott, Washington Examiner:
President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing yesterday:
“‘Even if we permitted the hell out of everything tomorrow -- every pending permit, some permits that haven't even been filed yet -- it would not have a material effect on gas prices. That's the simple, clear reality,” said the director of the Bureau of Ocean Energy, Regulation and Enforcement (BOEMRE).
Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?
Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.
In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."
6 comments:
Oft-quoted but WRONG. In the days after 7-14, when Bush signed it, oil was still around $113. It didnt go down until after 8-12, when it had reached $147. Better check your 'facts' when you believe FOX.
http://quotes.post1.org/historical-crude-oil-price-chart/
Fox? Where did you get Fox? I didn't get any of this from Fox. I think you have a Fox derangement syndrome. But I don't watch Fox, or MSNBC. So you need to check your assumptions at the door.
I'll pass on your comments to Mark Tapscott at the Washington Examiner, who wrote the article.
So you're debating a few weeks period in which oil prices continued to rise, as to discredit anything Bush did in July, which resulted in prices finally dropping in August.
We all know where that is coming from. Must be WRONG if Bush did something.
But the FACT that Bush actually did something instead of like your man Obama, who WANTS high oil prices, is the premise of the piece.
Expectations can drive market speculation, but that doesn't happen overnight...
Your article originated at FOX, just Google it, and infers oil dropped when W signed the bill. Wrong! Oil was at $113 when he signed it, and went over $145 in the next few weeks. I stand by what I wrote.
You must pay a lot of attention to Fox News.
I have a compulsion to 'call out' obvious liars, as in,
Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?
Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.
Sorta blows your whole premise, right? Never mind, like the 'birthers' when presented with your 'wrongness', you'll just skate around it. Why do I waste my time here? No one reads you anyway.
I really don't know why you come over here. You call me a liar, which is obviously wrong.
From the New York Mercantile Exchange, selected oil prices for 2008:
July 4, 2008 $145.29
July 11, 2008 $145.08
July 18, 2008 $128.88
July 25, 2008 $123.26
August 1, 2008 $125.10
August 8, 2008 $115.20
August 15, 2008 $113.77
August 22, 2008 $114.59
August 29, 2008 $115.46
So tell me again what the price of oil was on Aug 12?
From Wikipedia:
Oil broke through $110 on March 12, 2008[13], $125 on May 9, 2008[14], $130 on May 21, 2008 [15], $135 on May 22, 2008, $140 on June 26, 2008 and $145 on July 3, 2008[16]. On July 11, 2008, oil prices rose to a new record of $147.27 following concern over recent Iranian missile tests.[17]
However, oil prices declined by more than $20 over the next two weeks, settling around $125 a barrel on July 24, 2008.[18] Oil further dropped down to its lowest price in 3 months, at around $112 a barrel, on August 11, 2008[20], and on September 15, oil price fell below $100 for the first time in seven months.
You can insult me all you want (and you have over the last two years), but the facts remain facts.
I guess your interactive chart that you references was wrong. (Actually, the chart was for futures prices, not spot prices. They are different).
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