Poor Southern Whites
- Thread starter Cancel7
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Do you not believe that this war has increase the price of oil
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The Almighty
No doubt Bush has added to the price of oil, but if you think for a moment it is all because of his actions, then you are kidding yourself. Nothing Bush has done is responsible for the increases in demand from India and China.
I know blaming Bush is the fun for the partisans on the left. But take a look back at the energy policies of the past three decades..... no new refineries in the US in the past 30 years. No tapping into 120 billion barrels of oil that are currently untapped in the US. No big push into Alt energy development.... by ANY administration.
Both parties are partially to blame for where we are today. Yes, Bush has been a monumental failure. But oil prices have not risen solely because of his policies. Not even close. We would be at $80-90 barrell oil regardless of who was in charge. Unless you believe Gore or Kerry would have led the charge to tap more domestic oil.
http://www.cattlenetwork.com/content.asp?contentid=208629
"OIL FUTURES: ICE Brent Crude Up $1 On Iraqi Pipe Blast"
http://www.washingtonpost.com/wp-dyn/content/article/2006/04/28/AR2006042801082.html
"Iraq Oil Output Lowest Since Invasion"
http://www.wtrg.com/oil_graphs/oilprice1947.gif
^^ This is a nice graph. They actually point out that the Iraq war and the weak dollar is a substantial cause for the increased prices in crude oil. All are a direct result of the failed policies that Bush has put into place.
"OIL FUTURES: ICE Brent Crude Up $1 On Iraqi Pipe Blast"
http://www.washingtonpost.com/wp-dyn/content/article/2006/04/28/AR2006042801082.html
"Iraq Oil Output Lowest Since Invasion"
http://www.wtrg.com/oil_graphs/oilprice1947.gif
^^ This is a nice graph. They actually point out that the Iraq war and the weak dollar is a substantial cause for the increased prices in crude oil. All are a direct result of the failed policies that Bush has put into place.
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The Almighty
Not by $120 barrell.
We kept oil at artificially low levels for decades. As the largest consumer we were able to do so. Once China and India began seeing drastic increases in consumption.... demand broke the dam and prices began to escalate. Just adjusted for inflation, oil should have been around $50 barrell. Add the increase in worldwide demand and the and it should be around $80-90 right now. There is currently a speculative premium of about $30-40 barrell. Part of this speculation is due to the war.
Sounds like you're pulling that out of your @$S.
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The Almighty
Is that because the simple math is too complex for you?
Oil was about $20 barrel in the late 70's. Adjusted for inflation of an approx 3% per year (which has been the long term average) you get a price of $48.50... I rounded up to $50. My bad.
Add in increases in world demand over the past 30 years without corresponding increases in supply and you get.... oh yeah, right up into the $80-90 range.
Note: the above also factors in the decline in the value of the dollar over the past seven years. Which naturally happens when you have a very low interest rate environment. Interest rates have been near 30-40 year lows for most of the past six years.
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The Almighty
The Iraq oil supply has had minimal effect on oil prices as OPEC has consistently made up for any missed quota from Iraq. When Iraq pumps more, the remainder of OPEC pulls back production. Only a change by OPEC in terms of total production quota will change the total being pumped by its members. (yes, some members cheat and produce more than their quotas... but I can't remember the last time someone deliberately came in under their quota).
Your graph is simplistic and does not break down the effects of Iraq, the declining dollar and Asian growth on the recent run in oil. Iraq is minimal. The big factors are the declining dollar and the growth in Asia.
The declining dollar is in part due to Bush's policies, but the low interest rate environment is the bigger factor.
Don't get me wrong. Bush certainly has more than his share of the blame. But this move in oil was a long time coming.
LOL. That was so funny!
Let me just repost this:
Of course they have Top. That’s why when Bush and Cheney, two oil men, entered the white house, gas was 1.40 a gallon. That’s why as Bush and Cheney, two oil men, exit the white house, gas is now, 7 months before they leave, already at an historic high, and that’s adjusted for inflation.
It’s all a coincidence. Pay no attention to the two oilmen behind the curtain.
Maybe I am dumb, but on my worse day, I ain’t never been dumb enough to buy what you’re selling here.
Of course they have Top. That’s why when Bush and Cheney, two oil men, entered the white house, gas was 1.40 a gallon. That’s why as Bush and Cheney, two oil men, exit the white house, gas is now, 7 months before they leave, already at an historic high, and that’s adjusted for inflation.
It’s all a coincidence. Pay no attention to the two oilmen behind the curtain.
Maybe I am dumb, but on my worse day, I ain’t never been dumb enough to buy what you’re selling here.
Top, you can make one bet today that will be a sure thing: 90% of my reading is so far over your head, you never even heard of it and would have no idea what it means.
The 10% I do for mindless entertainment, you might be able to follow.
