Oil & gas prices trending downward, coincidence?

shamrock

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Never ceases to amaze me. Even with multiple hurricanes heading towards the Gulf of Mexico Oil Drilling platforms, (generally a beautiful excuse to begin hiking prices), gas and Oil prices falling noticeably for the first time in several years. Speculation barrel of Oil could be under 100/barrel for first time in recent Bush presidency.

Suppose this has absolutely nothing to do with election on the horizon.:mj07: :mj07:
 

THE KOD

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WASHINGTON ? New data released today by the U.S. Department of Transportation show that, since last November, Americans have driven 53.2 billion miles less than they did over the same period a year earlier ? topping the 1970s? total decline of 49.3 billion miles.

?We can?t afford to continue pinning our transportation network?s future to the gas tax,? said U.S. Transportation Secretary Mary E. Peters. ?Advances in higher fuel-efficiency vehicles and alternative fuels are making the gas tax an even less sustainable support for funding roads, bridges and transit systems.?

Americans drove 4.7 percent less, or 12.2 billion miles fewer, in June 2008 than June 2007. The decline is most evident in rural travel, which has fallen by 4 percent ? compared to the 1.2 percent decline in urban miles traveled ? since the trend began last November.

Last month, Secretary Peters unveiled the USDOT?s transportation reform plan which offers lawmakers several options to consider when Congress takes up highway and transit legislation next year. ?It really makes little sense to try to upgrade our infrastructure using a revenue source as ineffective, unsustainable and unpopular as the fuel tax,? she added.

?Secretary Peters? plan to overhaul our nation?s transportation investment strategy begins the much-needed transition away from status quo solutions that produce status quo results. Her plan strengthens the abilities of state and local officials to integrate effective transit and highway solutions to meet Americans? ever-changing travel demands,? said Acting Federal Highway Administrator Jim Ray.
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lets see 53 billion miles . How many gallons is that ?

How much money out of the arabs pockets ?

Case closed.
 

djv

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Well they were saying world demand has drop over 3% last 3 months. And here in USA close to a million barrels a week. If it was not for the storms coming and going we be at 100 bucks a barrel and around 3.50 gallon. Plus Value US buck is up and that brings price down to.
 

Eddie Haskell

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Another festivus miracle. Good point Shamrock. Funny how this always happens around the elections yet, Bush and the party of oil and corporations argue that they have nothing to do with the price of oil. Must be divine intervention and their close relationship with Jesus.

Eddie
 

Skulnik

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Another festivus miracle. Good point Shamrock. Funny how this always happens around the elections yet, Bush and the party of oil and corporations argue that they have nothing to do with the price of oil. Must be divine intervention and their close relationship with Jesus.

Eddie

Edward, I know you don't believe that, you might want the FOOLS to belive that. JMHO.
 

Hard Times

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SKULL THE FOOL

SKULL THE FOOL

"There's an old saying in Tennessee--- I know it's in Texas, probably in Tennessee--- that says, fool me once,shame on---shame on you. Fool me------you can't get fooled again".
Now this is the fool that you ,sir,are so proud of and by doing so,makes you the bigger fool.
 

ImFeklhr

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Another festivus miracle. Good point Shamrock. Funny how this always happens around the elections yet, Bush and the party of oil and corporations argue that they have nothing to do with the price of oil. Must be divine intervention and their close relationship with Jesus.

Eddie

Doesn't oil always come down a bit as summer winds down? Lots of factors, but the fact that Americans are driving a bit less is GREAT news. Hopefully we can keep it up. I think all Americans could do with a little less consumption of just about everything.

I know I know, that would be bad for the economy... but still there is more to life than just consuming.
 

DOGS THAT BARK

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Another festivus miracle. Good point Shamrock. Funny how this always happens around the elections yet, Bush and the party of oil and corporations argue that they have nothing to do with the price of oil. Must be divine intervention and their close relationship with Jesus.

Eddie



Lets see Storms head toward gulf--oil up
Storms does little damage to oil platforms -oil goes down

Demand high - oil increases

People use less--demand goes down--oil decreases

investment media view
"Oil prices dipped to near $108 a barrel Wednesday as the dollar continued to strengthen and attention shifted to concerns over slowing global demand for crude after Hurricane Gustav left oil installations in the Gulf of Mexico region largely undamaged. "

Liberal bolgs views--read this thread again

little wonder same people have been harping for 8 years on how bad things have been :)


++++++++++++++++++++++++++++++

Haskell/liberal theory --gov munipulates oil/gas prices to highest in election year--but lets it receed a little as election nears.

--its logic like that--that has you attending those Monday night meeting Edward-- :)

Will concede O is definately your man in offering hope for the hopeless.
 
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