Tuesday, October 17, 2006

Elections and the drop in gas prices


If the recent plunge in gas prices is the result of a conspiracy by President George W. Bush to help the Republicans retain control of Congress, as 42 percent of Americans believe, according to one Gallup poll, a lot of Wall Streeters wish they'd been in on the plot.

So what really drove prices down - if not an Oliver Stone-worthy scenario involving the Commander-in-Chief, the House of Saud and Secretary of the Treasury Hank Paulson cajoling his cronies at Goldman Sachs to sink the crude market?
By late summer, hedge funds and other investors had poured billions into long positions in oil, gasoline, natural gas and the rest of what traders call the "energy complex," all betting on a replay of the severe 2005 hurricane season that sent prices soaring in the wake of Katrina and Rita. But one day after oil reached a monthly high of $76.98 a barrel on Aug. 7, government meteorologists downgraded their hurricane forecast and cautioned that a repeat of 2005 was "unlikely."
That announcement, combined with the end of the summer driving season and a recalibration of the
commodity index that reduced the weighting of gasoline, prompted speculators to head for the exits even faster than they'd piled in (Quoted from an article by Nelson D. Schwartz a Fortune senior writer)


Look….what I find amazing here is the timing of the drop. It’s very nice that this article tries to tie together multiple reasons for this drop at this time…..but let me remind you. The media here in America is as manipulated here as in any third world country. When the price of oil was rising moment by moment right after last years hurricane season….the average person said then: “I bet the price starts coming down around election time”! And look....it has come to pass!

I have long been a person that has believed we are manipulated and controlled in ways that are so grand, we can barely feel the influence. When I said things like that….people used to say “No…That can’t be, that can’t happen here” Well I beg to differ with that opinion, and I use the oil price drop as proof.

The first family (The Bush’s) are deeply involved in oil and with the Saudi’s. For heaven sake…..Your President got the entire Saudi royal family out of the US hours after 9/11 when all aircraft in the US were grounded. Since President Bush has taken office, oil companies profits are the highest EVER in the history of the world. If he can create such huge profits for them, what makes you think they won’t give a little back so he looks like a champion of the people?? I want to remind you here since I KNOW you forgot......when the prices started going up last year,,,,the average price per gallon across the US was about $1.40...... now we are "down" to about $2.40
Thats a $1 per gallon INCREASE. 41% more now then last year. If you drive 12,000 mi a year you will be paying about $550 more this year then last! Did you recieve a 41% raise like the oil companies did? No?? Hmmmmmmm.

President Bush….I feel you have done more to injure America and what we as a nation stand for. You have blackened our eye in the court of public opinion. The graft and corruption that is obvious from the actions of the members of your staff, and the corporate giants that support you and keep you in office is all starting to unravel. You have allowed big business to earn big profits while eradicating the middle class. You have sent our sons and daughters to a foreign country to fight and die for what???? So you can gain control over more oil refineries? I thought the oil from Iraq was supposed to be financing the war to “liberate” the Iraqis … yet you suck billions of our tax dollars a week to support a war where the only winners will be you and your friends in big business. What about VP Cheney and his connection to Halliburton. Are we so naïve that you think we are fooled? They have secured contracts that NO ONE had to bid on…..you just handed it to them. And what about the cost overruns and the fact most of the things planned have been scaled back or dropped, but the money is missing and spent……tell me again President Bush how you are MY champion….a champion for the little guy!!


3 comments:

Rob said...

Wow....it's powerful the way you write. Keep up the good writing.
Your topics are interesting!
Thank you

Anonymous said...

Buen artículo..estoy de acuerdo. Soy cubano y lo siento porque leo inglés pero no lo escribo ni hablo

Worker said...

Macho Cubano,
Feel free to write in Spanish. We are Bilingual and there is a translator link if you need one. I love to get opinions so thanks again for the visit and come back often