Comments on: Oil Prices Top $100 For First Time Ever

Violence In Nigeria, Rumors Of OPEC Shortfalls And Bad Weather Spark Supply Concerns

[venkata4--2008]

History will redeem --- I feel sorry for people so filled and blinded with hate that they would love to see the country fall to pieces just to say George Bush is to blame.

Posted by commonsence1 at 12:38 PM : Jan 03, 2008

I beg to differ. For those who forgot that we used to pay $1.00 to $1.25 per gallon, and very less co pays to doctor visits, prescriptions and more salary in mid nineties. Can you remember crude oil was $14.00 in December 98, Jan. 99. I remember paying $0.94 per gallon. Do not post here with half baked truths. I used to earn more at that time too.

Middle east was more peaceful at that time. Please remember camp David & middle east peace accord are signed and honored during democratic rule not other wise. Now we arm Fatah faction against Hama, in dive and rule policy. Better not to talk about Iraq. Any way it is going to be next president''s head ache for this escapist Prez. His oil buddies, defense suppliers made their buck.

[sparks224]

I think Big Oil needs more welfare.

[mediapreachr]

Check out Google for information on oil traders in India.Also ''Mad Money'' with Cramer on CNBC-One day that guy''s eyes will finally pop out from their sockets(he''s addicted)-He''s a millionaire but people like him can never have enough.He likes to gamble(trade).
Wall Street traders will succeed in driving the whatever is left of the US economy into the ground.Millions will suffer because nobody wants to stop a few thousands parasites.

[erichsh]

I agree. JetRanger7 is nothing but a classless name-caller who can''t rebut an argument with one of his own. Whether you agree with a POV or don''t, there''s no excuse for his brand of juvenile nonsense.

[jetranger7]

"COMMONSENSE1" YOU JUST TRULY SHOWED EVERYBODY WHAST A FRICKIN DUMBAZZ YOU REALLY ARE !!!! YOU SIR, ARE THAT IGNORANT I doubt seriously you have any commonsense,, I''m amazed there are people like you this Stupid and Brain-dead , but obviously there are after reading what you just posted for everybody to read,,I feel sorry for your family and your wifey to be around somebody such as yourself, and have to put up daily with morons like you !!! Go ahead and keep posting your Pathetic Wacked Out Rhetoric and Republigoon Supporting, it makes for a great laugh !! Commonsense,, thats funny- too bad you don''t have any !!!!

[johnshaft4]

Ha!, Ha!, Ha!...NO ONE cried for me when oil was $9 a Bbl. (I put oil and gas prospects togehter). We starved back then. Screw you all. He who laughs last, lasr best. (Give ''til it hurts.) If YOU had a brain in YOUR head, you would be pushing nuclear (instead of drinking your ethanol). What a bunch of morons YOU are.

[erichsh]

Keep spouting away, veteran71 - I look forward to reading your wild-eyed spastic fulminations next year when Bush is no longer in office - THEN who will you blame? Supply and demand will still be a factor - so will irresponsible speculation - but your favorite whipping boy will be put out to pasture. Not a day too soon for you, I know - but then your own cold reality will sink it. You''ll discover that world problems will continue to exist even when Bush is out of office.

[jetranger7]

"COMMONSENSE1" - THIS GUY SOUNDS MORE AND MORE LIKE "ENRONS" - JEFFERY SKILLING THE MORE RHETORIC AND MIS-INFORMATION HE SPEWS he keeps asaying it all about Supply and Demand,, not Manuiplation or Fabrication and Fear Mongering, never could that happen,, and ohh yes free markets fancy words to sound legit, like they''re authoritians on the subject, this guy is probably either jeffery skilling on a computer from prision or, skillings brother who''ll soon be in prision !!! obviously he has NO COMMONSENSE, , but he is Funny !!!!!!!

[jetranger7]

"COMMONSENSE" Your Funny, and quite pathetic, and a FOOL !!! Theres a Big Difference between SUPPY & DEMAND, and "Speculation & Fantasies", which is what those Day Traders and Futures Investors are doing is Speculating and driving up the cost,, a huge difference, Their "FEAR-MONGERING" concept has nothing to do with Supply and Demand, futher more- this is exactly the same "RHETORIC" we heard in 2001 about the California Black-outs too, only to find out ENRON was behind the Fabrication and manuiplation of that Fiasco as well, all you heard was it was about supply and demand, NOT 1 Word from IDIOTS like you about "Corruption & FRAUD" and "Manuiplation"- wonder what it is with people like you that you just don''t get ??? you obviously don''t think theres crooks out in this business or what, who artificially pump up the market with fabricated fear !! Are you yourself invested in that arena and here trying to decieve people with your Non-sense and Rhetoric, this is exactly what we were hearing when ENRON was in business from morons like you !!!! Commonsense - hardly, thats laughable !!!

[erichsh]

Most of the members of OPEC hate George Bush ...
Posted by commonsence1 at 12:14 PM

So do most of the posters here - they are so blinded by their hatred that they''ll blame Bush for everything (and while they''re at it, call anyone an "idiot" who doesn''t share their uncontrollable rage). It will interesting to read these comments in, say, a year from now when oil is $105/barrel and Bush is no longer in office. But, hey, it''ll still be his fault, right?

[bradleyj39]

When I read the BBC news it says that it was just one man that bid the $100 per barrel and sold the whole lot minutes later for a loss. Why cant CBS news find that information out or at least mention it, oh nevermind, it wouldnt be as news worthy to print the ACTUAL news.

[erichsh]

talkingham - are you this much of a condescending, arrogant schmuck in real life? or only when you can hide behind a keyboard and a screen name?

[talkingham]

Sure the Prez can control the price of oil. Bomb these goat herders back to the stone age and run the oil fields ourselves - just like Saddam used to do for us back when the price of oil was about a buck a gallon-- not that long ago-- oh right, just before Georgie Jr. was elected.

So his first step was to remove about the only stable Arab government in the region and turn it over to a bunch of Islamic terrorists who hate our guts and would love to see the price of oil go to $10 a gallon. By de-stabilizing the entire region Bush certainly "controled" the price of oil making it go sky high. And most recently his allowing Turkey, "our Ally" to bomb northern Iraq caused the price to jump to the latest high along with his anti-Iran rhetoric. So you idiots who say the Prez can''t control the price of oil are Rush Limbaugh idiots because even if he doesn''t control it day by day he certainly affects it for the rest of our lives idiots!

[micma-2009]

Thanks a lot Bu$hies! Looks like your dirty little war was successful after all. Big Oil will surely have another record setting year.

[oscarez]

"They''re talking about, in 20 years, not being able to meet demand,"

"to meet demand" is the real problem for the U.S. Oil output has peeked world wide and unless demand drops the cost of oil will continue to increase. The U.S. government is making on effort to solve the problem. It is up to you and me to stop the madness,

[lochlan-2009]

commonsence1 - Common sense, doesn''t seem to be your forte. Stick to your party pushing and Bush/Cheney rhetoric at the expense of our country and citizens.

[lochlan-2009]

The temp is 7 outside. Just bought 150 gallon of oil at $3.32 per gallon for the bargain price of $498. When we bought the house four years ago it was a $172 for 150 gallons. How can the Bush/Cheney oil administration possibly expect people to vote republican this election?

[rafterman1]

===No American president can control the price of oil.===

Sure they can. Invade Iraq, watch oil prices rise. Sabre-rattle with Iran, watch oil prices rise. Release a CIA report reducing the Iran nuke threat, watch oil prices drop. A US president can absolutely influence oil prices.

[nadeau4201]

March 21st 2007 will be one of the most significant dates this month. Iran has outlawed the American dollar and will put anyone in jail that uses it in their country after that date. They have the ominous notoriety of being the first nation in the world to do such a thing. The real issue in Iran is NOT nuclear, but rather the decision to not use the American dollar for trade and the sale of oil. On the heels of Iran''s decision, North Korea has followed suit and also outlawed the use of the American dollar in their country. Finally, Malaysia the next day did the same thing.

[nadeau4201]

When OPEC formed, the US government negotiated a deal that all OPEC countries would only sell oil for dollars and dollar denominated securities. In other words, if you want to buy oil from an OPEC country, you need to buy dollars first.

This was a great deal for the US because it could essentially print dollars and sell them abroad to cover its trade shortfalls. Other countries had to buy those dollars so they could buy oil.

The OPEC countries, in turn, tended to invest their wealth back into the US (this is called petrodollar recycling) so the US economy could essentially enjoy its benefits without actually having to produce anything to earn it.