Drilling Would Help No One But Mismanaged Oil Industry
Oil companies pump millions of barrels of oil from US Federal lands... While American Taxpayers receive pennies in return. Why? Listening to oil indu...
HuffPost's QuickRead
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American Patriotism Crushed By Republican SUVs
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McCain's Offshore Drilling Hogwash
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Yes, McCain's Attack Ads Are Pathetic, But Obama Can't Assume that Voters See It
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Is Drilling the Answer?
All politics aside, I would like to share with you the information I have been able to gather with regard to the amount of oil we might be able to get from offshore drilling.
Bush On The Environment: Top 5 Stupidest Things Said Yesterday
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The Collapse of the Middle Class, Letters from Vermont and America
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Harry Shearer: What's Made the Price of Oil Take a Swan Dive?
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Maybe the price of oil is dropping because we are now within 30 days of an election, the results of which will dictate whether or not the oil barrons have free run of Washinton like they have for the last 7 1/2 years. They are doing everything they can to influence this election. They are spending millions. Why not drop the price of gas temporarily, if you might gain 4 to 8 more years of fun?
"Or even that, just as the price rose in close coordination with a drop in the value of the dollar, the price has fallen as the dollar has regained value (since world oil transactions are valued in dollars)."
Most likely.
I'd also like to see hwo low they drop on Nov. 3rd, as well.
The contributing factor in the Wall Street crash was high oil prices. The Oil companies should be nationalized and prices dropped below 2.00 a gallon, we will only then see recovery.....
You got that right.
The media is acting like there is no connection.
Big Oil took their profits and tanked the world economy.
The price is going down because supply meets demand.
Of course throughout the run up in price the supply always met demand. Which is why the Saudi and OPEC Ministers couldn't understand what was happening.
But it is now clear that the price of oil was a speculative bubble. Just like housing, just like the Dot.Com etc etc.
With the exception that it was more like the California Energy "Crisis". Anyone still remember that? It was a long time ago, way back in history. All of maybe 7 years ago.
Where Enron and other energy traders drove up the price of electricity and natural gas by instituting bogus shortages in the short term market. It was practice for the real thievery in with oil market.
They got away with it in 2001 because they knew the Bush/Cheney Administration would not prosecute anyone (they were right) and they did it again in 2008 because the knew Bush/Cheney would not even investigate anyone.
It is a wonderful thing for the criminals when you control the US Justice Department.
We're deflating, Harry. See you at the bottom....