Good info in this post. Mahalo.This has nothing to do with supply and demand. This was THE same cenario played out last year when price took a leap of greed above $100 a barrel
The media wants the public to believe that this high price is cause by oil companies and OPEC. That was what I was led to believe until I checked out ICE.
Two main reasons why oil price is climbing right now.
1. Weak dollar, because of oil being bought with US dollar, that when the dollar gets weaker oil price climbs higher. Expect the dollar to get weaker in da years th years to come as Obama prints more paper money.
2. Policies, I said it before that since Obama sign the green bill several weeks back, oil has jumped over $10, from $49 to $59 in the first week of the bill.
Why this bill?
Remember last year when price jumped to $147 a bill was set for drilling offshore. Democrats who oppose it made little challenge and agree to drill offshore. Obama also went along in supporting the bill to drill offshore. Oil tumble to $40 a barrel from $147 in less than 5 month since the bill was pass.
But like Obama, he seems to change his rhetoric and change the names of his bills just to make it sound good. The enrgy bill he pass is a change of mind to support liberal enviromental control in the house but it will be miserable for for americans who are struggling right now to make ends meet.
He will reverse this bill again by the end of this year when oil reach $100.
High energy price is one of the greatest fuel for higher inflation. Something we don't need right now when we are right in the middle of this messy recession.
Join the discussion below, or Read more at Honolulu Star-Bulletin.
#21 Jun 17, 2009
#22 Jun 17, 2009
Wow, blaming Obama for high oil - so where were you when oil prices approached $150 under Bush and his cronies? It wasn't "drill baby drill" that decresed the oil prices - it was the threat of prosecution for illegal speculative activities that did the trick - how convenient of you to forget that!
#23 Jun 17, 2009
The government taxes per gallon of gas is never a factor to consider with gasoline prices.
The State increases the tax and the President gets blamed by the right. Tooooo Goood, those Kalei eggs???????
#24 Jun 17, 2009
wait.... who was president when this happened last year? your guy right? thought so!
#25 Jun 17, 2009
You may want to read the rest of the article from Fortune, part of which is included below,
"....The last spike, of course, was a year ago at this time, when oil zoomed all the way up to $147 per barrel and Congress began holding hearings to discuss whether speculators were manipulating prices. Then a market correction that began in the middle of last summer was accelerated by the global financial crisis. Oil plunged to multi-year lows, with the price of benchmark West Texas Intermediate crude dropping under $35 in December and again in February...."
Anyone who takes Tama literally is either too lazy or too stupid.
#27 Jun 17, 2009
Since you just mouth off without any concrete fundamental to support you pathetic views shows your typical clueless loser.
Congress can talk all they want, but as soon as the bill went through congress most of the liberal congress INCLUDING OBAMA voted for the bill to drill offshore. No one in the white house wants to be against it.
Republican wanted to drill locally Pelosi and most of the liberal democrats opposed it, but they had no choice because of the angry people at the pump and the election was only a few months away. The reason why Obama went along with it but now pushing for a change by going greener.
Do your research buddy before you mouth off, The same paper you quoted were reporting that it was base on supply and demand, ICE holds the key.
Your point is weak and have no support. I have given you two strong points to support why oil price will continue to climb.
1. Dollar weakness
2. Obamas policies.
The dollar will continue to get weaker and oil price will continue to climb. Congress will be at it again, but the buck stop with the loser in da oval office and his pathetic policies.
We got more natural energy resource in our nation than any other nation in the world. Canada is our second largest supply of oil. For Obama TO PUSH FORTH HIS GREEN energy policy at the wrong time, shows that his inexperience and support for these enviromental freaks that is causing the price of oil to climb further.
Obamas policies gives room for investers to manuver or manupilate price. It all depends on policies...
#28 Jun 17, 2009
This from a kid that lives on campus and has never paid her own bills. Alice, you think everyone lives next door to their job?
#29 Jun 17, 2009
Hey, Neil. How about you talk to your buddy Barrack about some off shore drilling. Better late than never. Sunshine and wind won't run my car! Sugar cane won't be any cheaper.
Nuclear power for Iran sitting on an ocean of oil. No nuclear for USA. I must be lo lo, cause I don't get it!
#30 Jun 18, 2009
Hey, Star Bulletin.
You raised it by announcing it.
#31 Jun 18, 2009
What you don't realize, is that Alice is an 80 year old 395 pound woman bound to her bed, the toilet, and the dinner table (much less the kid on campus).
"Gosh Stumpy, ya wanna go play hide and seek in the woods? Mom says that we can roast wieners when we get home after we build a fort!"
[break for Skippy commercial]
#32 Jun 18, 2009
I guess you lo lo tida. Jes no look when u wipe an flush...evrything be ok. Save u sanity!
“No Free Speech Zones ”
Since: Jun 08
South Kona, brah
#33 Jun 19, 2009
Here's the facts:
Oil was $22/barrel when Bush took office in 2001.
It soared to $147/barrel during his tenure.
AAA (which studies oil pricing) sates there is no justification for the last four months of price increases, except that of speculation.
Those blaming a $0.10/gal gasoline tax for the recent 4 month increase of $1.00/gal on gasoline are oblivious to the corruption that is now part and parcel of the American capitalist corporate model.
We are not short of oil.
It is a limited resource however.
The profit takers(bankers and oil companies alike) just believe now is the time(the last 10 years) to stick it to us all.
Have you seen the bankers, insurance giants and Wall Street brokers lose their jobs...I guess the ones with golden parachutes bailed but the rest are still their...using our money to reward themselves.
#34 Jun 20, 2009
and that goes for you alice ... DON'T ride the bus!
Add your comments below
|Pukalani Music Selection (Sep '12)||Nov 12||Musikologist||13|
|Lahaina Music Thread (Aug '13)||Sep '16||Musikologist||10|
|Pros and Cons moving to Maui||Aug '16||Anonymous||1|
|Maui police arrest 3 in drug bust - News (Feb '09)||Jun '16||Sativa||15|
|some people disgust me (Nov '10)||Apr '16||usuckballs||4|
|Moving to Hawaii (Nov '11)||Apr '16||local kine||2|
|Hula competitors avoid iconic flower because of... (Mar '16)||Mar '16||DILF||10|
Find what you want!
Search Wailuku Forum Now
Copyright © 2016 Topix LLC