What you say is true with an asterisk. What you should say is that our government has no DIRECT control over oil prices. Just like our government has no DIRECT control over long term interest rates. If you are implying that our government has NO influence on worldwide crude prices, that would be incorrect.

Even if we did that, that would have no effect on the price of oil. I guess it could conceivably make the price of a barrel drop from $63.80 down to $63.40. That would be about it. It wouldn't have any real effect.

We have much more control over interest rates than oil prices. The Fed can raise or lower the federal funds rate as they please. That's pretty significant.

There is pretty much nothing we can do to affect oil prices. I guess we could call some of the OPEC members and beg them to lower their prices. This has never worked in the past.

No, it sure hasn't. They know that no matter what, we're going to purchase it, so why would they want to lower the prices? LOL

US foreign policy has a direct impact on worldwide crude prices. Come on Rupert- you know this. What has impacted oil prices more than anything is the situation in Lebanon for better or worse. As tensions rose, prices went up. As they were quelled, prices went down.

Of course, we have to factor in seasonal adjustments as well. Oil prices always rise in the summer.

I don't think I would agree that US foreign policy has a direct impact on oil prices. I think it can have more of an indirect effect.

I guess if we did something extreme it could have a big effect. If we decided to go to war with Iran tomorow, the price of oil would obviously go way up.

Fair enough. With prices coming down as sharply as they have, its definitely hedgefunds having a lot to do with things. There were probably a lot of futures played and when there wasnt a Katrina 2 or a world war 3 in the middle east, the sell off began. I wouldnt be surprised if it dropped another 5 bucks a barrel before the middle of October (barring some unforseen turn of events of course).

You're all nuts ...

Karl Rove controls the price of oil and gasoline ... and the price of everything else as well ... and that's a FACT ...

... I know it because I heard it on Air America ...

... just before they turned out the lights.

Now that was a good one!

No, it wasn't a response to anything other than I find it very odd that the price of gasoline is going down right before the election and that it was mentioned in that right wing article.

The first quote I made up myself. You told me in an earlier post to go check out a right wing website so I did.

Do you understand that gasoline prices go up or down based on the price of oil? The price of oil has been coming way down and that is the reason that the price of gasoline is coming down. Our government has no control over the price of oil. Oil is an international commodity that is traded. The price of oil right now is $63 a barrel. If you actually know what the price of oil is going to do, you can get rich by trading oil futures. It would be the same as if you knew for sure which horse was going to win the race before the race starts. You could bet on that horse and make a lot of money.

Others have responded quite well to your own question about oil and gasoline prices.

With regard to right-wing opinion ... you really need to consume a lot more of it ... spend more time at townhall.com ... there are lots of youngish women writers there whom you may get comfortable with.

But the best project you should set for yourself ... would be to go to the library and take out any book by Thomas Sowell ... and read it cover to cover. There will be lots of valuable data ... and even more valuable analysis from a point of view ... a really brilliant one ... which you've never experienced before.

There's a lot more out there than the loony leftist claptrap you've exposed yourself to ... give it an equal opportunity. Then decide what to believe ... and what not to.

Demand.
Demand.

Dont buy gas. Stay in your house this weekend. If everyone in the US did this everyweekend... We might see 2.00 even again. When the price goes under 2.50 like it is here, people think, hey thats cheap and start buying and cruisin. The consumption and perception by the public on what is affordable is a huge factor. Drive slower, less often, during times when traffic is not heavy so you dont sit burning fuel.

So the lots more is Thomas Sowell. Lots more is... singular... Thomas Sowell.
You are amazing. Tell someone there is a lot more out there and keep referring back to one author. Biblical type of writer. What a crock.

I agree with everything BB says here. Boss loves Sowell and that wonderful Ann Coulter as well. She is such an eloquent speaker. Such a classy woman.

Kentuckyrosesinmay, in order to get a true grasp of the heartbeat of the world, youve got to listen Rush Limbaugh any chance you get. Now there is a man of the people! He is a fountain of knowledge on all things political, economical and PHARMACEUTICAL.;)

just saw this am that oil in asia is down......there are a variety or reasons why oil is down--altho the funniest 'theory' is the upcoming election. if only the u.s. elections had that much influence on a world market.

demand is down, no storms, futures are trading lower due to a possible increase in the future in u.s. oil production...and of course isreal and lebanon are not killing each other at the moment. and then there's iran, they haven't yet thrown in the towel on working out some sort of agreement regarding their nuclear program.

but of course instead of thinking about why they're down, the easy thing is to point at the white house.
also, naive on their part to complain about the media not talking about oil being down, gas being down--why that would be considered good news, and no one pays money to read good news.

i like the writing of sowell, also george will. i also read maureen dowd until the ark paper quit carrying her. we have a gent down here, gene lyons, our far-left leaning writer for the editorial section, he gets them up in arms around here. read him too. i'll read just about anyone who doesn't stoop to the level of the caveman....you know--_____bad, ________good--regardless of what either is doing!

Anyone with a computer and a modem ...

... has access to mountains of political commentary of all types. Restricting oneself to a hermetically-sealed environment is simply foolish.

Everyone should open up their horizons ... take in the full view ... and make informed decisions.

It's sad to see some youngsters ... here and elsewhere ... who have no idea that there are other points of view ... and other methods of analysis ... than the outright crap they've been fed in their youth by people with nefarious agendae.

For once, I agree with you. :eek: The ignorance of today's young people is appalling to me. The information is readily available to those who wish to read it and once it is researched, then and ONLY then, should a person be able to make a well informed decision. The problem lies in that most young people in today's society believe all of the bologna they see on tv.