Anyone else notice how ever since bush took the ban off of offshore drilling, oil has dropped about 10 bucks?

who else has noticed this?Anyone else notice how ever since bush took the ban off of offshore drilling, oil has dropped about 10 bucks?
YES!





I heard the former CEO of Shell oil on TV a few nights ago. He said that if the President and Congress were to get on board and allow drilling he expected oil futures would half in one day!





Hey, Congress, lets do this! Lift the drilling bans, encourage more drilling, build refineries, build nuclear plants, allow coal shale oil production!





Congress WANTS you to suffer...So they can blame it on Bush and the uneducated will vote for Obama-bat!Anyone else notice how ever since bush took the ban off of offshore drilling, oil has dropped about 10 bucks?
I do think it was more Bush's and Bernanke's report on the slowing economy and reduced demand. But it should finally convince democrats how supply and demand and speculation works.





I think the speculators know that drilling offshore won't happen until the dems lift the ban, but if that were to happen it would mean a huge drop in price.
Of all the Republican's faults, their worst is their inability to use simple logic.





Your cause and effect scenarios are invariably based of timing and coincidence rather than cause and effect.





This supports the theory that Republicans have never evolved (they don't believe in that either) to the point where they can use scientific theory rather than magic and mythology.





By the way...have you noticed that since Bush took office, the country has gone to hell in a bucket.
That's not why it dropped. A worsening economy due to consumer confidence drops and rising inflation will limit consumer spending in all areas, including energy. Speculators in the oil market factored in this reduced demand and the sellers stepped in. Also, there are those taking profits on the money they made investing in oil.
It was no coincidence that it dropped 7 bucks as soon as Bush opened his pie hole about lifting the ban. Watch it go back up as soon as the Demonrats block this. Listen to me now and hear me later, I promise you that as soon as the Obamanation gets in office, God help us all....he will lift the ban and the Dimwits will vote to lift it also. It's another Political ploy.
No kidding! Additionally, imagine if Bush were to release 1/3 of the US oil reserves! Experts said that could drop the cost of crude by as much as $50 a barrel. THEN imagine if we started drilling in Alaska, Colorado, and the eastern Gulf Of Mexico! WE HAVE THE RESERVES! So why not release them?
I got to give the devil his due. It is one of the few things he has done correctly. I'm just wondering why he waited till now to do it. If he had done this when there was a Republican majority in congress we might not have to wait until after the next election for action.
It's not because of what Bush did.





Speculators are worried about a drop in demand due to the weakening US economy and a rise in oil stockpiles here in the States.
Interesting point, even if the action had some psychological effect, offshore drilling is still banned and his action has so far done nothing to increase supply.
The ban is still in effect. He lifted an Executive Order, but the Congressional ban is in place.
So you think that somehow a purely symbolic gesture had an effect on oil prices? Not surprising, really. But no, the two are unrelated.
Yeah isn't that amazing... and they haven't even started drilling... it's SO a supply and demand problem!
I noticed it dropped because demand has dropped.
I noticed it and the price of gas has dropped .18 per gallon in the past 2 days.
yes, but, the kool aid drinkers are still crediting the Left Wing Liberal idiots unfortunately.
Dina W said it all
Yeah I noticed.
why does congress make everything so complicated....
Well I just put gasoline in my car and it was still above 4 dollars for regular....
thats funny, prices actually went UP 3 cents overnight where I live....
Yes, Bush is a wise man.
Yes, he put the ball directly in the Democrats hands, now we will see what they do with it.
Yeah, the Democrats in Congress are shaking their heads on how to make this look like a Republican gaff.....