Prices shot up after Katrina mostly due to the refineries that were shut down. Prices should have started falling about 6 months later after they started coming back online and getting production up to speed. But at about the same time, *someone* starts screaming hysterically about the Worst. Hurricane. Season. Evarrrr! Then, BP announces a cut back in their Alaska production while they take down two drilling rigs for maintenance, and *someone* yells that we’re all doomed because it will cut (Alaskan) production by 2 – 8%. Finally, Israel puts that smack-down on the Hezbos and *someone* goes into serious hystrionics about how the entire Middle East will be in disarray, oil will be cut off to the West and we’re all doomed, DOOMED, DOOMED!!!

Those *someones* were the usual bedwetters from the left. And the oil companies paid attention, and played it safe, hedging their bets, and oil futures play the predictions. But once none of that came to pass (shocker, I know) the oil companies realized that they could not hold onto those obscene profit margins for long and dropped the prices accordingly.

A bit simplistic but there ya go. I am privy to a bit of insider info. Allah can check my daytime IP and confirm that.

Oh, and if anyone thinks that the president or congress can have any influence on the prices of oil and gas without enacting pricing control, they are a flaming fool.

pull the strings! pull the strings!
- Bela Lugosi, Plan 9

He must be the figure head for the company he was running. A businessman knows the economics of supply and demand. Like I said, doesn’t let the facts get in the way of his mouth.

Mooseman

When, oh when, will the focus of the blame game of gas prices logically turn to REFINERIES? One would think that in a growing market, we would have built at least one more refinery in the last 20 years. Oh, and maybe build a few to refine heavy crude, rather than the sweet-light crude that comes from abroad.

Personally, our higher than national avaerage price at the pump (Cook County, Illinois) is due to the county being controlled by the dems. Tax, tax, tax.

uhhh.. I never said that Bush will manipulate the oil prices. I simply stated that I expected the price at the pumps to decline as election day drew closer – as it has.

No, you just made obvious innuendo that he was by implying that the falling prices at the pump and the approach of election day are somehow connected.

And unfortunately the economics question will have to wait for a time when I have more time. I’ll throw something up on my blog at some point, and give you a head’s up.

Translation: Greggie-poo is too much of a weasel to actually support his innuendo with facts, so he makes up an excuse and runs away from the debate faster than you can say “French Soldier”.

Greg, please explain HOW Bush manipulates a commodity? Oh yea, I forgot – you never explained how raising taxes is a good thing. I asked you that a while back. Have you been reading up on Economics 101? I’m still waiting for your answer You might want to pay attention to the chapter called “Supply and Demand.”

uhhh.. I never said that Bush will manipulate the oil prices. I simply stated that I expected the price at the pumps to decline as election day drew closer – as it has.

And unfortunately the economics question will have to wait for a time when I have more time. I’ll throw something up on my blog at some point, and give you a head’s up.

Start breathing again.

Greggie,
I’m waiting….

pullingmyhairout on October 19, 2006 at 1:29 PM

Please tell me you are not holding your breath waiting … we really don’t want to see you black out, ok?

(well, maybe Greggie-poo does, since then you’ll stop with those pesky, annoying requests for him to substantiate his innuendo with some kind of actual proof).

Gas has dropped to 2.20 in my neck of the woods, as I expected gas prices would do as election day draws closer.

GregH on October 19, 2006 at 10:57 AM

Greg, please explain HOW Bush manipulates a commodity? Oh yea, I forgot – you never explained how raising taxes is a good thing. I asked you that a while back. Have you been reading up on Economics 101? I’m still waiting for your answer You might want to pay attention to the chapter called “Supply and Demand.”

I’ve said it before and I’ll say it again, Texas is the best place on Earth.

Amen, brother. Nothing makes my heart go pitter patter more than seeing all those beautiful drilling rigs off the coast of north padre island. I can drive my truck right onto the beach, unload my cooler, chairs and kids and enjoy the scenic view. Those rigs mean economic growth for our area, jobs (good jobs, I might add). The more the merrier.

Amen to that, wolfman, filled up today in big D at $1.97/gal.

I’m assuming it was also Bush’s fault that gas has dropped at least 33% in the last month in my area. Right?

As our little buddy Greg pointed out above, it’s all part of the Bush/Rove election strategy – because it’s all the Republicans can do to try and keep both houses.

I’ve said it before and I’ll say it again, Texas is the best place on Earth.

OK Wolfman, one more and you’re outa here…whoops, this aint youtube.
Anyway, nothin’ tops Colorado.

nice one 13-28, send him to the couches.

Then again Lamont is a politician and I haven’t really found many politicians on either side of the aisle that are all that knowledgeable about economics.

That’s all in Bush’s plan, too? Misdirection?

As I say, it’s all about OIL… Overly Irritating Liberals.

Dems plan is to completely ban all US drilling, raise taxes at every step of the crude-to-pump process to fund “alternative” energy that may never pan out, and tax the “windfall profits” of “big oil”. All of which means higher prices at the pump.

Hail to the All-Powerful Bush. May the Bush be with you!

http://forums.fark.com/cgi/fark/comments.pl?IDLink=2358080

Gas has dropped to 2.20 in my neck of the woods, as I expected gas prices would do as election day draws closer.

GregH on October 19, 2006 at 10:57 AM

U. R. Sofa. King. Re. Tar. Did.