Bush OWNED
 

Got to thinking about the gas prices and why we have the oil reserves in the first place. Did dome searching and found this:

http://www.cnn.com/TRANSCRIPTS/0009/22/ip.00.html
BEGIN VIDEO CLIP)

BUSH: It's a bad idea because these petroleum reserves need to be used in case of war or major disruption of energy supplies.

What do you suppose we have been doing in Iraq for the past year? Playing cowboys and indians? His comment is regarding opening up the oil reserves. Bill opened them up when the price was only $33 a barrel to show the cartel we were not going to take the shit.

And from reading an article this morning on reuters it seems that the cartel is trying to keep the prices this way. Saying it will not help even if they do increase the output per day. They want it to stay at this level.

http://www.reuters.com/financeNewsAr...ryID =5205106

"While the oil market still holds above $40 a barrel...that is due to factors beyond OPEC's scope," Indonesia's OPEC President Purnomo Yusgiantoro told a press conference in London. "It is not an upstream problem,"

Analysts agree low stocks of gasoline in the United States are leading prices now. But they say OPEC helped create the conditions for the oil spike by restraining supplies and preventing stocks building as normal during the low seasonal demand period of the second quarter.


and this quote from the cnn url (transcript) above:

This is more about psychology, showing the markets and showing the OPEC cartel that the (clinton) administration is willing to intervene in the energy markets. If it does not increase supply and drive down prices, Secretary Richardson said the president would consider authorizing even more, but that would only increase the controversy.


The moral to this story? Bush said himself that the reserves should be used in a time of war or emergency. Even though we have been at war for over a year prices are at their highest peak ever, he is still not doing anything about it. I would be surprised if Cheney is helping him in this decision.

He might wait another month or two in order for a feel good with the american public right before the elections, but by that time when the prices do drop we will be looking at $30 a barrel minimum.

Some other interesting links, like how it all works etc:
http://www.csupomona.edu/~av/howthin...ces%20Work.htm

One last thing before I quit, this from the OPEC's own website:
http://www.eppo.go.th/inter/opec/OPEC-about.html

Does OPEC control the oil market?
No, OPEC does not control the oil market. OPEC Member Countries produce about 41 per cent of the world's crude oil and 15 per cent of its natural gas.

However, OPEC's oil exports represent about 55 per cent of the oil traded internationally. Therefore, OPEC can have a strong influence on the oil market, especially if it decides to reduce or increase its level of production.

Spend 20 minutes today reading this and the next time someone starts talking about gas prices, you can tell them exactly why they are high. Just some food for thought for the day.

last night i was watching the news. bush won't tap into our resources and he stated that congress should be blamed for the rising gas and oil prices because they did not pass his energy bill 3 yrs ago.

i love having a 3 yr old in office. you didn't pass my bill then ha on you all....suffer. tit for tat...never ceases to amaze me.

Hes just trying to have the least votes in history in the next election

but yet will still win..amazing how that works for him

He is getting off to a very good start, the war, the gas prices among other things. He is just digging himself a deeper hole.

you think so? Iraq might meltdown within 5 months. Won't exactly do wonders for his reelection.

It's a tough call no matter what side of the political spectrum you are on. I am VERY liberally biased and I saw a Republican senator on the news the other night saying "Don't like the gas prices? Don't drive monster trucks around all day." Made sense to me.

I do not see a crisis warranting the reserves opening up, despite my opposite political opinions of the Republican leadership.

HAHA taboo_dude, gas in our country is boundles high than aqua :) Aqua here is 0$, but gas >1$ :(. busheeeees

I guess all those tax break checks that were sent to those mothers with children can be put to good use now. Filling the 89 Tempo for $30 so you can get back and forth to work.

Smoke and mirrors.

I am not liberal, you are right on with "monster trucks", also we have all kinds of oil, only thing it's still in the gound. All we have 2 do is drill for it.

bush said NO to drilling.

I just put the car keys in the bowl and started walking. I'm not gonna pay over 2 dollars a gallon while bush throws a tantrum about his bill.

Its weird walking to work even though its just across the way. I never really looked at the neighborhood before. Its really an eye opener.

Did you know there are flowers and grass growing by my sidewalks. I have a boquette for the wife ready when she gets home everyday.

fucking whiners...

and if gas prices were at an all time low... the story would be.. Bush is raping the middle east of its oil...

Ok, ya gonna buy me that MG or Mini Copper to use until prices fall?

uhhh ... i dont even want to think about how many american businesses are taking a huge beating or loss on their profit margins as a result of the ridiculous gas prices.

It has a hell of a lot more to do with monster trucks - what a fucking smarmy fuck.

The thing is we use crude oil not only for our monstor trucks but other products and processes.

http://www.eia.doe.gov/pub/oil_gas/p...t/table_06.txt

from

http://ask.yahoo.com/ask/20030919.html

Everything from Asphalt oil to Waxes.

Granted that would help some, but it would not dictate the price of oil. That is up to our goverment and opec. Even when we adapt to start using more enviromental friendly technologies, and our demand for oil decreases, the price of oil will not go down.

:eek7

No, Bush would be taking complete and total credit for that.

Bush likes the high oil prices, it helps all his buddies make more $$$

:)

lol what's that :)

who needs to win via elections when you got money and can just outright steal it?

300.000 million americans couldnt do shit about it the first time

:2 cents:

I thought this was amuzing, not that they have the prices jacked up, when the price finally gets down to normal, the new normal will be at a higher price. Up to 8.00 more a barrel.
http://www.forbes.com/business/energ...28topnews.html

"The cartel is mulling a shift in the price band for a barrel of crude by as much as $8 per barrel, according to The Wall Street Journal. The new target would start at $28, which is still $10 per barrel less than the current reality. "


We might see gas prices get lowered down to close to previous normals (maybe for a month or two) but from now on, you will be paying more for gas as well as everything else.

In light of that here are a couple of links if you want to start planning ahead:

http://www.toyota.com/prius/
http://www.hondacars.com/models/mode...elName=Insight

Run your diesel engine on vegetable oil.
http://www.greasecar.com/ :thumbsup

We hope.....

But Im not counting on it

haha comeone Bush rulez :1orglaugh

that greasecar site is fucking cool shit

didn't Clinton tap into the reserves, and didn't it make no difference whatsoever?

Uhhhhh...what about families with minivans? Are the kids supposed to get out and push? Holy shit what an ignorant statement.

uhh no, gas prices went down and stayed down until the energy industry hijacked the White House. You have half the facts as usual.

like Loius Black Says in reference to bush

"2 years ago, we had a 3 and 1/2 TRILLION dollar surplus... now we have a 2 Trillion dollar deficit...(stutters) WHERE THE FUCK DID IT GO?"

hahaha

"if we go through 5 1/2 trillion dollars EACH AND EVERY ONE OF US shoulda got a fucking coupon!"

how much did they go down? 2 cents?

i doubt it... US has it shares of victories in the Iraq war

The last time an administration tapped the Strategic Petroleum Reserve, the impact on price was negligible. When President Bill Clinton ordered the sale of 30 million barrels of oil on Sept. 22, 2000, the average price of regular gas had climbed to more than $1.56. By Oct. 24, when the oil began to hit the market, prices had slipped one penny, according to the Energy Department's Energy Information Administration.

:1orglaugh

Right, slipped by a penny, instead of shooting up to $2. Negligible in the mind of a Bush apologist I suppose.

i hate him

in other words, it made no fucking difference like I originally said.

It stopped the prices from continuing to rise. Were you even old enough to drive back then? You always says stuff like "didn't this happen, didn't that happen". You sound like a kid who gets his history from the Fox news ticker.

The reserve is only supposed to be used in an emergency. $2 a gallon while inconvenient is hardly an emergency.

It was a political play, nothing more.
Speculating what "would have happend" is silly.

At that point i'd been driving for eight years.

OK, now stick in a Rush Limbaugh comment to further this PLAYED routine you seem to be stuck in.

You can buy a really nice used Pinto for about $500.

a thread with much sense..... good research:thumbsup

The truth isn't a routine. Based on your handle alone most people know exactly what brand of doucebag you are.

No, but you are.

:1orglaugh Trying to make a point without making the point!

I go home in 12 minutes!!! WOOO HOOO

Thank God this admin is almost over. Kerry is leading by 7 points now in the polls and that number will only go up from this point on as things continue to get mucked up in Iraq.

That was interesting