Comments on: Analysts Ponder If Oil Bubble's Burst

Oil Recorded Another Drop Friday, Placing It Almost $20 A Barrel Lower Than Its Peak

[obama8years]

President Bush lifted the Ban on drilling for Oil. That sent the Oil Market plummenting. Just imagine if the Democrats and Obama jump on this opportunity and start drilling while simultaneously investing in alternative energys. Look at France they have nucleur power and there doing fine.

If Obama and the democrats do not change there position, we will be living a Jimmy Carter era with Obama as President.

[fiberglass3]

"Light, sweet crude for August delivery fell 41 cents Friday to settle at $128.88 on the New York Mercantile Exchange - well below its trading record of more than $147 a week earlier."

Let''s see - if oil falls $ 18.12 in one week, then the price per gallon at the pump goes up 1 cent. Hmmmm??

Starting to see why we are heading toward electric vehicles......

[babooph]

If the price stays up,the middle class will not be able to pay back the Chinese for the war debt.The poor, we call poor because they have no $-that leaves no one to pay the tax!!!The price then must come down,or there will have to be a troop reduction & a lie about victory.

[ajaxtheleast]

My this IS different this election!

The rise and fall of gas and oil before
the last presidential election was NOT, ,NOT
PONDERED by the analysts. If memory serves
I do believe that analysts at that time, ,
ANALYZED it.

Probably have to google that.

[jmurrieta1]

But the Bush administration told us repeatedly that no speculation was involved in the oil price run up!

Is it possible that the Bush administration is stupid, lied, or both?

Could it be?

[patriot12436]

incognito
I am returnig to the states in Septemeber. I have to drive from New York to Kansas City, KC to SanAntonio, SA to Tampa, Florida, back to SA, then drive from Sa to Las Vegas. I already decided my top speed will be 55 to save on gas. I am also looking at every way possible to increase my gas mileage.

[patriot12436]

If the price of gas drops back to $3.50 a gallon , the American public will sigh with relief and the gouging will continue as always.

[pepperwood2]

(AP) The price of oil recorded its biggest weekly drop ever, and a gallon of gas finally pulled back from its record high. So is it time to declare the energy bubble popped?

Just how long is it going to take for Mr. & Mrs. America to see some relief of the price of Gasoline & Heating Oil? Heating Oil & Gasoline have & continue to rise in the last week here. It makes the Al Gore Global Warming crowd happy, But come on now these people don''t contribute to or pay for my Gasoline or Heating Oil.

Its time to start passing these savings on to the people. Personally I really don''t care if the Oil Companies are going to make record profits this quarter. The Gouging goes on thanks to our Liberal Congress being bought off by the Oil Lobbyists. Its time for a Real Change.

[juwboy]

brianbwb said:

"...the price of oil and gas is controlled by a few oligarchs" i.e. OPEC.

I`ve said it here before and I`ll say it again. Cartels have been broken in the past by targeting a member with a weak economy and offering to buy more product from them at a lower price so they`ll make more money.

The weakest member of OPEC is probably Nigeria. Most OPEC countries, acting in collusion, are not producing at full capacity, a strategy intended to keep supplies low and oil prices artificially high. So, if one or more of them could be persuaded to increase production and sell at a lower price, they would still make more money.

In Nigeria`s case, they are under-producing mainly because of rebel attacks on oil facilities.

It hasn`t been reported here, but the Brits could be laying the groundwork for carrying out my suggestion. In the past week, they`ve been in talks with the Nigerian government about providing military protection for their oil wells, pipelines and storage facilities.

By way of return for this protection, they could very well be bargaining with Nigeria for the purchase of oil at below the OPEC price.

[patriot12436]

I have always said it was a direct conflict of interest for a president to own oil wells. This should be illegal.

[patriot12436]

I thik the speculators just need to be moticated. Hang a few publicly and see what happens with the price of oil. I wouldn''t mind if we started the hanfings with bush and congress and worked our way to the oil speculators.

[patriot12436]

I never thought Gor was smart enough to do anything, but i read his energy plan and like it. Get away from opec and tell them where to stick it.

[patriot12436]

How come when someone breathes about something the price shoots up, now the price drops 20 dollars a barrel and gas only drops a penney a gallon ? *** ?

Drop the prices enough to calm the "fears" of Americans, hopefully enough to prevent the lawmakers from attempting to remove the Enron loophole.

Wait awhile and then go back to raising prices once the mass of Americans become complacent about oil and gas prices once again.

It''''s a simple two-step program the elites have played on us for years. They know how to play it well.

Posted by DaysRnumbrd
----------------
Not me, when gas gets back down to two bucks a gallon, then call me.

[daysrnumbrd]

Drop the prices enough to calm the "fears" of Americans, hopefully enough to prevent the lawmakers from attempting to remove the Enron loophole.

Wait awhile and then go back to raising prices once the mass of Americans become complacent about oil and gas prices once again.

It''s a simple two-step program the elites have played on us for years. They know how to play it well.

[marcosis78]

Prices are fixed in my opinion. Fixed by speculation, the oil companies, and most of all, I REALLY think Bush has something to do with it whether it has something to do at home (ie sucking the reserves for government use) or abroad (ie making deals with the Saudis). I think that people are getting jipped with the bill so Bush and his cronny oil tycoons and his REALLY good friends in Saudi Arabia are getting billions of dollars richer.

[oneworldusa]

Funny, I don''t see an ExxonMobil ad anywhere on this page that happens to refer to fuel prices going down.

[shanev137]

It''s really amazing that people can''t figure out they''re being lied to by the media about oil prices.

Then again, it shouldn''t shock me since the masses voted for Bush twice.

[incog-nito]

The 55 mph will NOT work. People just won''t drive that slow, especially in the West. The problem is that cars nowadays have terrible aerodynamics. Those blocky cars and SUVs are like a barn door when it comes to drag coefficient. It used to be that automakers design cars with aerodynamics in mind, but no longer. I used to have an old Saturn that is slow as hell in the city, but has a pointy, sloped profile and can get 35 mpg doing 85 mph all day long.

[brianbwb-2009]

It has been obvious to most that the price of oil and gas is controlled by a few oligarchs. It is most probable that they have decided to ease up a bit, so that McSame can have a better chance of gaining office, to continue Bush''s work.

Then its back to "bomb Iran" and extend the Iraq genocide, and $250 per barrel oil, amd meltdown of the US economy, which won''t matter to the Bush family,as they have already secured their South American hiseaways, and their Dubai business offices.