Who thinks...

[Rupert Pupkin]

Originally Posted by Bold Brooklynite

I don't know where you got your first quote ... but your second one from Cal Thomas ... has him questioning the hypocrisy of the leftist media who headline rising gasoline prices ... but ignore falling ones.

In any case ... I don't understand the connection between your post and my response to Somerfrost.

Jessica misuderstood the quote. She thought that Thomas was insinuating that the White House was respnsible for the drop in oil prices. That's not what he was saying. He was saying that the white House is frustrated that when gasoline was $3.50 a gallon, it was all over the papers. Now that it's $2.70 a gallon, that's not metioned in the papers. So they're frustrated that they are sort of blamed when the price goes up, but they don't get any credit when the price goes down. The truth of the matter is that oil is a commodity that is traded all over the world. Our governmnet has no control over oil prices at all.

[Cajungator26]

Originally Posted by Rupert Pupkin

Jessica misuderstood the quote. She thought that Thomas was insinuating that the White House was respnsible for the drop in oil prices. That's not what he was saying. He was saying that the white House is frustrated that when gasoline was $3.50 a gallon, it was all over the papers. Now that it's $2.70 a gallon, that's not metioned in the papers. So they're frustrated that they are sort of blamed when the price goes up, but they don't get any credit when the price goes down. The truth of the matter is that oil is a commodity that is traded all over the world. Our governmnet has no control over oil prices at all.

SOME people expect our government to use our own oil reserves so that we can have cheaper gasoline for a short time.

[Rupert Pupkin]

Originally Posted by Cajungator26

SOME people expect our government to use our own oil reserves so that we can have cheaper gasoline for a short time.

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.

[dalakhani]

Originally Posted by Rupert Pupkin

Jessica misuderstood the quote. She thought that Thomas was insinuating that the White House was respnsible for the drop in oil prices. That's not what he was saying. He was saying that the white House is frustrated that when gasoline was $3.50 a gallon, it was all over the papers. Now that it's $2.70 a gallon, that's not metioned in the papers. So they're frustrated that they are sort of blamed when the price goes up, but they don't get any credit when the price goes down. The truth of the matter is that oil is a commodity that is traded all over the world. Our governmnet has no control over oil prices at all.

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.

[Rupert Pupkin]

Originally Posted by dalakhani

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.

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.

[Cajungator26]

Originally Posted by Rupert Pupkin

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

[dalakhani]

Originally Posted by Rupert Pupkin

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 menbers and beg them to lower their prices. This has never worked in the past.

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.

[Rupert Pupkin]

Originally Posted by dalakhani

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.

[dalakhani]

Originally Posted by Rupert Pupkin

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.

[kentuckyrosesinmay]

Originally Posted by Rupert Pupkin

Jessica misuderstood the quote. She thought that Thomas was insinuating that the White House was respnsible for the drop in oil prices. That's not what he was saying. He was saying that the white House is frustrated that when gasoline was $3.50 a gallon, it was all over the papers. Now that it's $2.70 a gallon, that's not metioned in the papers. So they're frustrated that they are sort of blamed when the price goes up, but they don't get any credit when the price goes down. The truth of the matter is that oil is a commodity that is traded all over the world. Our governmnet has no control over oil prices at all.

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.

[Rupert Pupkin]

Originally Posted by kentuckyrosesinmay

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.

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.