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Thursday, May 10, 2012
Oil Prices Are the Lowest They Have Been This Year So Far
The price drop might have to do with oil speculators selling off their futures contracts – since as much as $14 of every tank of gas in America is a result of banksters speculating on Wall Street. Those suffering the most from falling oil prices are Republican operatives who've been trying to pin rising gas prices on President Obama, despite the fact that he's increased domestic drilling and reduced dependence on foreign oil each year he's been in office. US inventories are now at a 21-year high, and demand at a 7-year low. Now that gas prices are falling – let's see if Republicans are as quick to give the President credit as they were to fault him when they were rising.
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7 comments:
Oh man, the entire continental shelf must have opened up. or maybe all of alaska suddenly spewed it's reserves straight into the refineries
Why are gas prices still two dollars to high?
No, its called supply and demand.
Supply goes up when demand goes down.
Oil prices are controlled by free market manipulation.
Almost all of the new energy production in the past 3 years is on private land...He can't take credit for that! Someone show me where Obama has increased drilling for oil. And demand at a 7 year low is supposed to be a good thing? Just means less people are working. They sure aren't driving Volts.
The answer isnt drill drill drill.
We need to work on a newer viable option of our own sustainable energy source. We can cut all ties from the middle east that way, bring all the money back stateside.
649, you really don't have a clue, do you? Gas prices are controlled by taxes and politicians who are lining theur pockets with contributions from Big Oil and their banks!
And yes, 1214A, demand is down because less people are going to work.
Damn those low oil prices,Obama said its Bush's fault
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