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Good News and Bad News

The good news: oil has dropped to below $60.00 a barrel.

The bad news: OPEC is considering not producing as much oil to drive prices back up.


Comments (30)

Not to worry - the guy in ... (Below threshold)
Lee:

Not to worry - the guy in the White House is pulling the strings on gasoline prices - it's a safe bet gasoline prices will rise and stay high until the day after the election.

Correcting my comment above... (Below threshold)
Lee:

Correcting my comment above:

Not to worry - the guy in the White House is pulling the strings on gasoline prices - it's a safe bet gasoline prices will not rise and stay high until the day after the election.

Yup> Karl ROve fired 8up t... (Below threshold)
Ryan:

Yup> Karl ROve fired 8up the ol' weather machine and stiopped the hurricanes! The dastardLT FEIND!!! And they even decided that, instead of having the prices be lower earlier so the economic positive numbers woudl be higher, that it woudl be much mroe fun to play catch up from behind, so they withheld this lowering of prices until the last minute! Such is their genius!

. . .riiiight. .

Correcting my comment ab... (Below threshold)
moseby:

Correcting my comment above:

Not to worry - the guy in the White House is pulling the strings on gasoline prices - it's a safe bet gasoline prices will not rise and stay high until the day after the election.

WTF?? Did you blow it again? Didn't you mean that oil prices will fall and stay low until after the election? At which point, they will skyrocket to fill Bush's and all of his oil cronies' pockets? This is like helping my 4-year old write his name.

No, moseby, your 4-year old... (Below threshold)
Sheik Yur Bouty:

No, moseby, your 4-year old will probably learn.

You just had to know that o... (Below threshold)
jhow66:

You just had to know that old 'pucker puss" (lee lee) would be the 1st to make that very comment.

Wait. Not to worry we can ... (Below threshold)
sang:

Wait. Not to worry we can get fake green cards and go to NY and Danny & Chev will issue us all vouchers so we can fill up our new SUVs we purchased with our government checks issued to us by the Dems, get our free ketcup and keep on keeping on

Ok, so I have to explain to... (Below threshold)
Mitchell:

Ok, so I have to explain to the Liberals--

When supply goes down (i.e., production), then price goes up, assuming demand is the same.

When price goes up, the little money signs on the gas pump go up, and gas costs more.

And, Mr. Bush and Mr. Cheney did not lower supply, and thereby affect the price.

The people you want to give more rights to against strong interrogation and phone call and finance monitoring, those would be the people who are affecting the supply (lowering it), and therefore increasing the price.

Got it?

History shows...a)... (Below threshold)
Lee:

History shows...

a) Republicans lie.

b) The price of oil rises and falls on inputs other than supply and demand.

c) Republicans lie.

and

d) Republicans lie about oil.

Not to worry, it has now be... (Below threshold)

Not to worry, it has now been confirmed that Lee's day job is the skull-sweat requiring kind of stringent focus on making sure the patties are throughly cooked and are placed just so in a complex portrait of lettuce, tomatoes and pickles.

If its not the JOOOOOS controlling everything...it's Boooooooosh!

:::snort::::

Gas prices ALWAYS rise befo... (Below threshold)
VagaBond:

Gas prices ALWAYS rise before the start of summer and fall after summer is over. Hmmmm....vacation...traveling...more cars on the road.

yep, you're right Lee. no supply and demand there...

ande) Lee is an id... (Below threshold)
Sheik Yur Bouty:

and

e) Lee is an idiot.

Sorry, Republican'ts -- but... (Below threshold)
Lee:

Sorry, Republican'ts -- but it is now official. Bush juggles oil prices - it's all over the news today.

Shame, that'll leave a mark in the coming election.

The only thing official is ... (Below threshold)
Sheik Yur Bouty:

The only thing official is Lee's severe BDS.

How does he do it Lee? Any ... (Below threshold)

How does he do it Lee? Any ideas how one man manipulates the price of oil AND gasoline? What sort of machine does he have? Or does he have a giant seat at NYMEX that controls ALL the futures contracts light sweet crude?

Well, some folks who post o... (Below threshold)
DaveD:

Well, some folks who post on this site consider Bush a dolt/ an incompetent. He is so incompetent, in fact, that he can steal two elections and fine tune the price of oil on the world market.

Not bad for an idiot, huh L... (Below threshold)
DaveD:

Not bad for an idiot, huh Lee?????

Lee knows that he is defend... (Below threshold)
LoveAmerica Immigrant:

Lee knows that he is defending a corrupt party and known liars like Clinton. So all he can do is to project his and their own lies on the people he hates.

Thanks for your always info... (Below threshold)
kbiel:

Thanks for your always informative and fact filled take on the news Lee. Can I safely summarize it down for you as, "Bush Bad"?

Since you have the inside scoop, Lee, would you please inform us as to how Clinton managed to get elected despite the Big Oil ♥ Bush Family conspiracy? Did they just have an 8 year lapse of judgement where they forgot to turn the price knob up to 11? Or did Clinton wag the Mighty Finger™, put Big Oil on double, secret probation and cause them to keep oil price down below $30/barrel during the 90s?

You better watch out Lee, with your knowledge you are surely a marked man. The next puppy you see might be a member of a highly trained Haliburton assasination squad. You had better lock your doors and stop answering the telephone, they can control your mind through secret subharmonic signals sent over the telephone. You might be talking to what you think is a telemarketer one day and ZAP, you suddenly love Boooshhh and begin wondering what crude oil tastes like on corn flakes.

BOOGA BOOGA

[moonbat]Lee's right... (Below threshold)
Mike:

[moonbat]
Lee's right... Bush has got this sekret computher that he uses to set the price of gas at the pumps. He sets the different at each station so we wun't become suspishus but we're smirter than that. That's why Cheney shot that lawyer. The lawyer was going to tell everyone about the gas pump price computher.
[/mooonbat]

Lee, your moonbat is showing. But seriously, Lee is correct in that the price of oil isn't affect only by supply and demand... other factors such as risk premium affect the price. The risk premium recently when WAY down.

In the year we have had our... (Below threshold)
Drew:

In the year we have had our Prius we really have not cared what the price of gas is...although we do not get the milage promised only getting only 40 mpg in city and around 50 on the fast road...
but of course Americans are too stupid to manufacture hybreds so those Ford workers deserve to lose their jobs..
oh wait it wasn't the worker who was the decider...
two years ago would people have thought $2.20 a bargin? ...but Iraq has the third highest oil reserves so what is the worry...remember when we were told Iraq oil would pay for everything..including the streetsweepers cleaning up all those thrown flowers?

Drew,If you are go... (Below threshold)
Sheik Yur Bouty:

Drew,

If you are going to talk about stupid Americans, you should really (and I do mean REALLY) mind your spelling and grammar.

Seriously.

Or you might find yourself looking more stupid than the Americans you complain about.

Leave it to Lee to demonstr... (Below threshold)

Leave it to Lee to demonstrate the dangers of drinking the water from the bottom of the bong.

Darleen, Don't forget the "... (Below threshold)

Darleen, Don't forget the "secret sauce".

FYIThe OPEC member... (Below threshold)
model_1066:

FYI

The OPEC member nations:

Algeria
Indonesia
Iran
Iraq
Kuwait
Libya
Nigeria
Qatar
Saudi Arabia
UAE
Venezuela

This is OPEC's disclaimer about their relative influence on prices:

http://www.opec.org/library/FAQs/aboutOPEC/q14.htm


"Given that OPEC Countries produce about 43 per cent of the world's crude oil and about 51 per cent of the oil traded internationally, any decisions to increase or reduce production may lower or raise the price of crude oil."


Keep in mind that when OPEC puts the brakes on production, the increase in prices can benefit friendlier non-OPEC oil countries like Norway, Canada and Mexico if production is increased to make up for OPEC's lowered quota.

If you pepople in the lower... (Below threshold)
Thor-Zone:

If you pepople in the lower 48 would get the hell outta of our way here in Alaska we could have had another million barrels a day into the west coast by now. That would not make for $1.00 gas - but it would help drive prices down.

Drew's imitation of a moron... (Below threshold)
Mike:

Drew's imitation of a moronic moonbat was better than mine.. :(

Drew's imitation of a mo... (Below threshold)
Clay:

Drew's imitation of a moronic moonbat was better than mine.. :(

Well, he has been honing it. Drop a couple dozen IQ points and you too can be just as moronic.

Ha ha, Lee was born to amus... (Below threshold)
914:

Ha ha, Lee was born to amuse.

A great gift wasted.

Drew, how can your Prius ge... (Below threshold)
snowballs:

Drew, how can your Prius get better MPG on the highway than it does in the city? Usually it's the other way around, for the Prius anyway. 40 MPG in the city is terrible for for that vehicle, even with the AC running constantly, you might want to have that thing looked at.

http://www.hybridcars.com/prius_specs.html




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