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  1. #1
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    I Told you so, Gas Prices

    I really hate to say I told you so but:

    Oil, Gas Prices Drop on Bush Supply Move

    Oil, Gas Prices Drop on Bush Supply Move
    Apr 25 8:29 PM US/Eastern
    Email this story

    By BRAD FOSS





    Crude oil and gasoline futures fell Tuesday after President Bush gave the Environmental Protection Agency the authority to relax regional clean-fuel standards to attract more imports of gasoline to the United States and to make it easier for supplies to be moved from one state to another.

    President Bush also said he would halt deposits of oil to the nation's strategic petroleum reserve until the fall, but analysts said that measure would have next to no impact on crude prices and certainly would not help make gasoline any cheaper. Even the fuel-specification waivers will have a marginal impact, analysts said, given that the main force behind today's soaring pump prices is the near-record price of crude oil.

    "If you have $75 a barrel crude oil, you're sort of at a starting point of $2.90 a gallon for gasoline," said Mary Novak, managing director at the economic consulting firm Global Insight.

    Light sweet crude for June delivery settled 45 cents lower at $72.88 a barrel on the New York Mercantile Exchange, dropping on the heels of a 4.48-cents-per-gallon decline in May gasoline futures, which finished at $2.1291 a gallon.

    Analysts said a floor remains underneath oil prices, which are 33 percent higher than a year ago, for a variety of reasons:

    _ With daily global demand roughly 85 million barrels per day, the world's oil producers have less than 2 million barrels per day of spare production capacity, and most of that is for Saudi blends of oil that are less ideal for manufacturing transportation fuels.

    _ Oil traders are nervous about geopolitical tensions ranging from violence in Nigeria to the West's nuclear standoff with Iran to the move toward greater nationalization of natural resources in energy- rich Venezuela.

    _ The global economy is expanding, and that means the thirst for oil is only going to grow.

    _ Speculative investors are piling into energy markets as a way to profit from soaring prices and geopolitical turmoil that could potentially be bad for equities prices.

    In a further escalation of the war of words between Iran and the West, Iran threatened Tuesday to begin hiding its nuclear program if the West takes any "harsh measures" against it _ Tehran's sharpest rebuttal yet to a U.N. Security Council Friday deadline to suspend uranium enrichment or face possible sanctions.

    The United States, Britain and France claim Iran wants to use enriched uranium for nuclear weapons, not just electricity generation. Iran denies the charge, but Washington has been pressing fellow members of the Security Council to impose tough economic sanctions against Iran, which could affect its oil exports.

    Nigerian exports are down because of violence there that prompted Royal Dutch Shell PLC to shut in 455,000 barrels per day of production, and more than 300,000 barrels per day of Gulf of Mexico output remains shut in as a result of damage from last summer's hurricanes. Also, Iraq's output has been hampered by continued sabotage of energy industry infrastructure.

    Venezuela, another major oil producer, unsettled the market over the weekend by reasserting its intention to give the state greater control of oil fields being operated by foreign-owned oil companies.

    Concerns about tight refining capacity and gasoline supplies in the U.S. ahead of the summer driving season are also propping up prices.

    In the seven weeks ended April 14, gasoline stocks declined by more than 23 million barrels, according to last week's U.S. Energy Information Administration report.

    In other Nymex trading, heating oil futures rose 2.64 cents to settle at $2.0581 per gallon, natural gas futures fell 30.4 cents to $7.254 per 1,000 cubic feet.

    ___

    Associated Press Writer Gillian Wong in Singapore contributed to this report.

    Link
    http://www.breitbart.com/news/2006/04/25/D8H7BTTG0.html

    Correct me if I am wrong, but not once in the article did it day anything about Bush/Cheney "Stealing the Oil"...
    In fact the very first reason according to the article matches along with my very first post here on Scam.com long long ago, "Supply and Demand"....
    There really is not and oil shortage, it's just that we can't supply it as much as we demand it. ;)

  2. #2
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    Re: I Told you so, Gas Prices

    Removing safeguards designed to protect the environment upon which we depend for survival is not wisdom.

    Slightly cheaper oil in the short term is a pretty shortsighted motivation. In the long term, we just hurt ourselves more.

    The price of oil is going to continue increasing. That's a reality we're going to have to face.

    Maybe if gas prices were higher, people would think more about finding alternative sources of energy.

  3. #3
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by Yirmeyahu
    The price of oil is going to continue increasing. That's a reality we're going to have to face.
    Yea but it's not "as the left says Bush's Fault]
    It's mostly Supply and Demand.

    Also (ahem) some people don't want us drilling in certain parts of (our own country).


    Quote Originally Posted by Yirmeyahu
    Maybe if gas prices were higher, people would think more about finding alternative sources of energy.
    There is Plenty of oil, there really is NO need for an alternitave,

  4. #4
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by Yirmeyahu
    The price of oil is going to continue increasing. That's a reality we're going to have to face.
    Yea but it's not "as the left says Bush's Fault]
    It's mostly Supply and Demand.

    Also (ahem) some people don't want us drilling in certain parts of (our own country).


    Quote Originally Posted by Yirmeyahu
    Maybe if gas prices were higher, people would think more about finding alternative sources of energy.
    There is plenty of oil, there really is NO need for an alternative, IT'S NOT A LACK OF OIL!!!!!!!!!
    It's a lack of producing it!!!!!!!!!!!!
    Answer?
    Build more refineries, not blame the President for stealing it ;)

  5. #5
    sojustask's Avatar
    sojustask is offline The Late, Great Lady Mod - Retired User Rank
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by hdmarketing
    There is plenty of oil, there really is NO need for an alternative, IT'S NOT A LACK OF OIL!!!!!!!!!
    It's a lack of producing it!!!!!!!!!!!!
    Answer?
    Build more refineries, not blame the President for stealing it ;)
    How short sighted can you be? Geez!

    Lady Mod

  6. #6
    sojustask's Avatar
    sojustask is offline The Late, Great Lady Mod - Retired User Rank
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    Re: I Told you so, Gas Prices

    Editorial
    How Not to Cure an Addiction

    During his State of the Union speech last January, President Bush correctly diagnosed America's oil consumption as an addiction. Unfortunately, Mr. Bush is balking at taking the steps to cure the abuse.

    Yesterday, the president told an audience of the Renewable Fuels Association in Washington that he would try to lower gasoline prices by increasing the supply of oil available to Americans this summer. His plan is to refrain from topping off the nation's Strategic Petroleum Reserve, but it could backfire. The reserve has a capacity of 727 million gallons but is nearly full already, so skipping a few deposits won't appreciably affect supply or prices. In the event of a true energy emergency, however, a less than full reserve could add to nervousness in the market, which could push up prices.

    Mr. Bush's other recommendations were similarly off point. For instance, he acknowledged that higher prices reflected global demand. But he offered no strategy to combat demand-driven price rises. The obvious solution, to increase fuel efficiency standards for ordinary cars, was not mentioned. The current standard, 27.5 miles per gallon, on average, has not been raised in more than two decades.

    Instead, Mr. Bush pledged to crack down on price gouging in local markets. That's a sideshow. He also offered some veiled environmental rollbacks as a way to increase supply and lower prices. He proposed to loosen the rules on "boutique fuels": formulations that are required in some areas but not in others. That would make the market more flexible. But if specially formulated blends were eliminated without imposing a higher overall environmental standard for gasoline, the result would be more pollution. Similarly, Mr. Bush's suggestion to streamline the refinery approval process would also amount to an environmental end run, if, as is suspected, it simply allowed refiners to avoid meeting established standards.

    The president made no mention of the Iraq war, which pushes up prices by reinforcing the market's anxiety over political upheaval in oil-producing areas. But he did make another pitch for drilling in protected Alaskan wilderness.

    The alternative energy technologies Mr. Bush emphasized biofuels, hybrids, hydrogen power are important and promising. What's missing is a plan to get us from here to there. That means oil and gas prices will continue to rise, as America leads the world in draining the planet's petroleum resources.

    .

  7. #7
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by hdmarketing
    Yea but it's not "as the left says Bush's Fault]
    It's mostly Supply and Demand.

    Also (ahem) some people don't want us drilling in certain parts of (our own country).
    No, it's not Bush's fault. It's nobodies "fault". It's supply and demand, as you said.

    There is Plenty of oil,...
    True.

    ...there really is NO need for an alternitave,
    False.

    Building more refineries won't solve the problem we're faced with. Most oil producing regions reached peak production already (USA peaked during the 70s). The remaining major reserves are expected to peak sometime in the next couple decades, possibly within 10 years.

    Quote Originally Posted by sojustak
    How short sighted can you be?
    I agree. It's a very shortsighted argument to say there's lots of oil and so there's no need to find alternative, sustainable sources of energy.

  8. #8
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by hdmarketing
    Yea but it's not "as the left says Bush's Fault]
    It's mostly Supply and Demand.

    Also (ahem) some people don't want us drilling in certain parts of (our own country).



    There is Plenty of oil, there really is NO need for an alternitave,

    Ha..ha..ha.. There are always two un-alterable doctrines at the core of all these loony Monkey's manifest, brain-dead goose-stepping. Rule 1: It's NEVER Bush's fault. Rule 2: Keep repeating Rule 1.

    So, it shouldn't be a surprise to note that, contrary to the laws of nature and geological science, the poster believes oil is a virtually inexhaustible resource.

    So why bother with alternatives? After all, every good little Bushista knows we're on the verge of Jesus' return to Earth soon, so we won't need oil much longer anyway.

    But, for now, it's just supply and demand. It happens like this: Start a bullsh!t war with blind, staggering, criminal incompetence thereby turning one of The World's largest oil producing regions into a blazing, politically un-stable inferno. This, inexorably, results in reduced supply coupled with market insecurity bordering on panic. Voila: Soaring prices. Never mind that. Just blame it on Clinton, right Monkey?
    Last edited by dchristie; 04-26-2006 at 07:54 PM.

  9. #9
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by dchristie
    Ha..ha..ha.. There are always two un-alterable doctrines at the core of all these loony Monkey's manifest, brain-dead goose-stepping. Rule 1: It's NEVER Bush's fault. Rule 2: Keep repeating Rule 1.

    So, it shouldn't be a surprise to note that, contrary to the laws of nature and geological science, the poster believes oil is a virtually inexhaustible resource.

    So why bother with alternatives? After all, every good little Bushista knows we're on the verge of Jesus' return to Earth soon, so we won't need oil much longer anyway.

    But, for now, it's just supply and demand. It happens like this: Start a bullsh!t war with blind, staggering, criminal incompetence thereby turning one of The World's largest oil producing regions into a blazing, politically un-stable inferno. This, inexorably, results in reduced supply coupled with market insecurity bordering on panic. Voila: Soaring prices. Never mind that. Just blame it on Clinton, right Monkey?
    As opposed to
    Rule 1) Its not my fault, Its never my fault, I didn't do it
    Rule 2) Its Bushs fault

    By the way, you're adjectives are getting tired and worn out man. Come up with something original that hasn't been played out.

  10. #10
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by USNavySubSailor
    As opposed to
    Rule 1) Its not my fault, Its never my fault, I didn't do it
    Rule 2) Its Bushs fault

    By the way, you're adjectives are getting tired and worn out man. Come up with something original that hasn't been played out.
    whatever happened to.........it takes one to know one!?hehe!!just askin!?

  11. #11
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by hdmarketing
    I really hate to say I told you so but:

    Oil, Gas Prices Drop on Bush Supply Move

    Oil, Gas Prices Drop on Bush Supply Move
    Apr 25 8:29 PM US/Eastern
    Email this story

    By BRAD FOSS





    Crude oil and gasoline futures fell Tuesday after President Bush gave the Environmental Protection Agency the authority to relax regional clean-fuel standards to attract more imports of gasoline to the United States and to make it easier for supplies to be moved from one state to another.

    President Bush also said he would halt deposits of oil to the nation's strategic petroleum reserve until the fall, but analysts said that measure would have next to no impact on crude prices and certainly would not help make gasoline any cheaper. Even the fuel-specification waivers will have a marginal impact, analysts said, given that the main force behind today's soaring pump prices is the near-record price of crude oil.

    "If you have $75 a barrel crude oil, you're sort of at a starting point of $2.90 a gallon for gasoline," said Mary Novak, managing director at the economic consulting firm Global Insight.

    Light sweet crude for June delivery settled 45 cents lower at $72.88 a barrel on the New York Mercantile Exchange, dropping on the heels of a 4.48-cents-per-gallon decline in May gasoline futures, which finished at $2.1291 a gallon.

    Analysts said a floor remains underneath oil prices, which are 33 percent higher than a year ago, for a variety of reasons:

    _ With daily global demand roughly 85 million barrels per day, the world's oil producers have less than 2 million barrels per day of spare production capacity, and most of that is for Saudi blends of oil that are less ideal for manufacturing transportation fuels.

    _ Oil traders are nervous about geopolitical tensions ranging from violence in Nigeria to the West's nuclear standoff with Iran to the move toward greater nationalization of natural resources in energy- rich Venezuela.

    _ The global economy is expanding, and that means the thirst for oil is only going to grow.

    _ Speculative investors are piling into energy markets as a way to profit from soaring prices and geopolitical turmoil that could potentially be bad for equities prices.

    In a further escalation of the war of words between Iran and the West, Iran threatened Tuesday to begin hiding its nuclear program if the West takes any "harsh measures" against it _ Tehran's sharpest rebuttal yet to a U.N. Security Council Friday deadline to suspend uranium enrichment or face possible sanctions.

    The United States, Britain and France claim Iran wants to use enriched uranium for nuclear weapons, not just electricity generation. Iran denies the charge, but Washington has been pressing fellow members of the Security Council to impose tough economic sanctions against Iran, which could affect its oil exports.

    Nigerian exports are down because of violence there that prompted Royal Dutch Shell PLC to shut in 455,000 barrels per day of production, and more than 300,000 barrels per day of Gulf of Mexico output remains shut in as a result of damage from last summer's hurricanes. Also, Iraq's output has been hampered by continued sabotage of energy industry infrastructure.

    Venezuela, another major oil producer, unsettled the market over the weekend by reasserting its intention to give the state greater control of oil fields being operated by foreign-owned oil companies.

    Concerns about tight refining capacity and gasoline supplies in the U.S. ahead of the summer driving season are also propping up prices.

    In the seven weeks ended April 14, gasoline stocks declined by more than 23 million barrels, according to last week's U.S. Energy Information Administration report.

    In other Nymex trading, heating oil futures rose 2.64 cents to settle at $2.0581 per gallon, natural gas futures fell 30.4 cents to $7.254 per 1,000 cubic feet.

    ___

    Associated Press Writer Gillian Wong in Singapore contributed to this report.

    Link
    http://www.breitbart.com/news/2006/04/25/D8H7BTTG0.html

    Correct me if I am wrong, but not once in the article did it day anything about Bush/Cheney "Stealing the Oil"...
    In fact the very first reason according to the article matches along with my very first post here on Scam.com long long ago, "Supply and Demand"....
    There really is not and oil shortage, it's just that we can't supply it as much as we demand it. ;)

    NOW!!that folks!!is a PROUD AMERICAN!?!?hehe!we have to dig up a medal for this man!?anybody got a kerry throwaway they dont want!?hehe!!hey!! d a m m it!!that's a BELIEVABLE STORY!?it's not about how we/you are doin......it's all about how i'm doin!?now that's AMERICAN PIE REPUBICAN STYLE!?hehe!!
    Last edited by lexx; 04-27-2006 at 09:31 AM.

  12. #12
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by lexx
    whatever happened to.........it takes one to know one!?hehe!!just askin!?
    Yeah, that works, so does sticks and stones may break my bones.....

    Theres the rubber and glue one also.

    I know you are, but what am I

    Infinity

    etc etc etc

  13. #13
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    Re: I Told you so, Gas Prices

    Quote Originally Posted by USNavySubSailor
    Yeah, that works, so does sticks and stones may break my bones.....

    Theres the rubber and glue one also.

    I know you are, but what am I

    Infinity

    etc etc etc
    as per usual........no real reply.......just ad infinitum!?hehe!!just askin.....which reminds me........where is it ALL goin anyway!?anybody REALLY KNOW/really care!?and how do you tell!?(who cares and who dont!?)and who needs to know!?if "they" already know!?and what's the most effective delivery of same!?or should i say...COST EFFECTIVE delivery!?is there a difference!?and what is the difference in "that" difference!?hehe!!sorry if this makes your head hurt!?better than a bullet!?right!?hug a liberal today!!how else will failure feel needed/wanted/change!?speakin of.....everyone blames the president!?.....get over it!?hehe!!just askin.......
    Last edited by lexx; 04-27-2006 at 10:04 AM.

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