Guys ... it looks as though the Bush, Cheney, Haliburton cabal have met behind closed doors conspiring to lower the price of oil. The Far Left madmen are scurrying around trying to come up with a plausable reason such as: fixing the November elections or diluting the "shock" over the now discredited "650,000" Iraqi death numbers. Here's the report:


NEW YORK (Reuters) - Oil on Friday fell more than 2 percent to a 2006 low below $57 a barrel on speculation that OPEC members would not follow through on plans to make deep production cuts to stem a three-month price slide.

U.S. crude <CLc1> for November delivery settled $1.68 lower at $56.82 a barrel, the lowest this year after trading as low as $56.55 in intraday activity. U.S. oil prices have dropped from July records of $78.40 a barrel on healthy inventories.

London Brent crude <LCOc1> fell $1.19 to $59.68 a barrel.


Vi

Lets see, crude at 60.00 a barrel, thats almost double what it was when Bush-Cheney took the helm, yeah I'm sure the elections have nothing to do with the lowering of the price of crude-Not! Now when we see the price of gas approaching $2.40 a gallon we rejoice, don't we remember that when GW took office it was around $1.40-1.60 a gallon, man are we stupid. They're giving us a huge break, and just before the elections, come on, how could that be rigged. Does it matter that the Bushes are almost family with the saudis, that the whole Bush regime is mostly Oilmen, do you think they cannot control the price of oil, well then partner, have another swig offen that thar bottle and go back to sleep! I'll bet that after the elections the price of oil will climb back to where they want it. I'd say around 3.00-3.50 a gallon, any takers, come on Red, put your money where you mouth is. If gas isn't over 2.90 a gallon a year after the 2008 elections, it will be because someone with balls (who's not an oilman) got elected. They might keep it low untill the 2008 elections, but after that the skys the limit. I'm more inclined to see it shoot up after the 2006 elections and fall again in mid 2008. Red I'll Bet you a 1/4 ounce of smoke that I'm right!

I bet you are right Med. I saw $1.93 the other day. Im sure a soon as the elections over it will be back up to $3.50.

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I remember the days in 1998, when I tanked it for $0.89 per gallon.
Ahh, those were the days...

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"An unexamined life is not worth living"
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I remember in 1960 in El Paso Texas paying 19 cents a gallon, My dad remembers 10 cents. Through most of my youth, it was around 30-35 cents, when it went to 89 cents (the great fuel shortage in the 70s created by the oil barrons) we were appaled. Guess what, it never went to below 60 cents again, a doubling of price overnight. This is the same ploy being foisted on us again. Here's my theory: we being the most powerful nation on the planet, could blockaid all the ports that ship oil and tell the producers that we will accept all oil at 25.00 a barrel and not a penny more. This might limit the Arab sheiks to ony 2-3 -100 million dollar yachts, instead of a fleet. It might make life tough for the top 1/2 of one percent of the oil barrons, but I say tough shit. We (the US) discovered most of the oil and drilled the wells and set up the refinerys only to have them nationalized and taken over by camel herders, now referred to as sheiks. The American govt., being controlled by Corporations will not do this as the oil barrons won't allow it, so who pays, you guessed it, you and I!

What do you expect when a family of oil men are in power.

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"An unexamined life is not worth living"
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Well now, it seems that we agree on something here! I'd like to see you two convince ViRedd of this. I'm sure he has some extreme opposing views, like a free market economy or some other corporate bull! He is entitled to his "opinion" no matter how unpopular it is! We are held hostage by the oil companies, there is no free market economy when it comes to the price of oil! We either pay the price or stay home!

You got it. its like a monopoly. I remember even The likes of Bill O'reilly speaking out against these oil companies.

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"An unexamined life is not worth living"
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I had a friend (she died a couple of years ago) who had some oil stock from the '60's, (standard Oil) she got them in a divorce and thought them worthless, you know a couple a grand. she paid no attention to them and when she died, her son inherited them. turns out there was 189,000 worth of stock which he promptly sold and went on a spending spree. He was also a speed freak and it took him about two years to be completely broke and homeless, he bought a new corvette, wrecked it, sold his mothers house, another 80,000, and proceeded to wreck his life. I guess money is not for everyone, by the way he was a gambler and we live in Vegas if that helps. I heard through the grapevine he was playing with $1,000 chips, don't take long to lose that way!

You guys need to check one thing ... what is the price of oil/gasoline today compared to 1980 ADJUSTED FOR INFLATION?

Here's a link, but keep in mind that oil prices have dropped considerably since this study was made. The Big Picture: Gasoline Prices (Adjusted for Inflation)


Vi

PS: Med ... this is not in response to YOUR post. I'm done with you, remember?