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Chip's Blog

by Chip from Phillipston, Mass

Last Post 6 days, 13 hours Ago


Under a Hundred....
Sep 12, 2008 | 2:11 PM
Category: News
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OK, Doomsday Dudes, here it is.  Remember the predictions about $5.00/galon heating oil?  Remember the predictions of $5 or $6 a gallon gasoline prices?  Remember the panic to buy...r the panic of HOW we'd buy...the oil to heat our homes this winter?  Maybe...just maybe.

Now, let's put this in context.  And important context it is.  Isn't there a hurricane bearing down on Houston?  Aren't there refineries in Houston?  Aren't there oil rigs pumping nice dark Gulf crude?  Aren't they threatened by the hurricane?  Yes they are, but it had no impact!

Let's back up the bus.  More context please.  Drum roll...didn't OPEC just cut production for the express purpose of raising prices?  The envelope please....Yep.  They did. My oh my...Oil went down below $100 a barrell in spite of these supply-side issues!!!

Know why?  Investors think supply will go up.  Know why?  Investors think we're gonna pump!!  Know why?  Republicans are pumpers, and this tells ya they are winning.

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Member Comments Total Comments: 5
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Graham_Cracker read my blog view my photos
Sep 12, 2008 | 4:26 PM

You know what, Chip? You really present a cogent argument that I'd love to see a liberal (someone like MattyG) argue.
FisherCat read my blog view my photos
Sep 12, 2008 | 6:28 PM

Excellant points.... :)
Xantun read my blog view my photos
Sep 13, 2008 | 12:25 AM

Graham, trust me, someone will probably try.

Chip, I have to agree with you on this one. However, I WAS a bit shocked when oil didn't go up after OPEC's announcement. Trust me, I'm not complaining though!

Another thing to consider. If the Republicans do get in the White House, I think gas/oil might go down even further.
kayleisnana read my blog view my photos
Sep 13, 2008 | 9:06 AM

Well said, Chip! You made some very valid points!!! It never ceases to amaze me how OPEC can tie our hands behind our backs and hang us over a barrel. It's kind of funny, though, that we as consumers, are the ones who keep these morons in business!!!!! I know I'm fantasizing, but, wouldn't you think that they'd be just a little more appreciative? Silly me...... :)
Xantun read my blog view my photos
Sep 13, 2008 | 6:59 PM

Kayle, they'll be all kinds of appreciative once we figure out some decent renewable sources of fuel for cars. Or, if we start trying to drill in ANWAR, at least to start. (No forgetting THESE shenanigans, like we did with the 70s oil embargo!)
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Chip

Just your average guy, married to a woman who is incredibly smart and possibly more conservative than I am. Father of three and grandfather of one soon to be two. Devoted Patriots fan and season ticket holder, snowmobile enthusiast and lifelong public servant.

Member Since: 9/26/2006


 

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