During the Bush administration, OIL rose 400% in his first two years. OIL sat at close to 150 a barrel and prices at the pump were at $5 and $6 in some parts of the country. At the time, the democrats were complaining about the price of OIL and argueing that the speculators were running up the price of OIL needlessly.
The BUSH administration, the GOP, the talking heads for the GOP on FOX NEWS, RUSH LIMBAUGH and the followers of all these groups spoke on OIL everyday saying that the price of OIL was nothing more than SUPPLY and DEMAND.
Production was at 99.9% according to BUSH and OPEC and there was talk about supplies running out around the world. Rush Limbaugh spoke everyday during that time on OIL saying he will gladly pay $10 a gallon for fuel because of capitalism and supply and demand.
Many on this board over those same years "echoed" those same sentiments on OIL talking about supply and demand and their support for BUSH and his OIL policies.
Today, however, its seems we have an about face on oil from not only those on this board who previously supported high oil prices, but from the GOP itself and all its talking heads.
Now, it seems, $4 a gallon gas is a CRISIS! Oil at 106 is a key to disaster! "Watch out america, Obama is killing the USA with high oil prices!"..... Boy oh boy, here comes the rhetoric.
Lets look at some facts. First, OPEC is now only producing at 71% of its capacity for OIL production ( down 28.9% ) as there is a GLUT of OIL in the world markets. ( what happened to supply and demand?) OPEC also says that the price of a barrel of OIL should be at $70, so why is it at 106 today?
Second, in the USA, there is so much stock of OIL, its being sold overseas, so there is no supply and demand problem in the USA, so again, why $106 a barrel? Third, OIL production in the USA is at its highest levels in 6 years so why is OIL at $106 a barrel?
Fourth, the GOP says that IRAN cutting off OIL to the UK and France is hurting the price of OIL, but thats not true at all. The UK and France only get 1% of their OIL from IRAN and that is being made up by new contracts with libya, so why is OIL at $106 a barrel?
Well, the answer lies with the GOP and its talking heads who are promoting another useless war in the middle east. Everyday now, the talking heads on FOX keep drumming up the war drums against Iran and the speculators once again are gouging the american public enriching the oil companies to the tune of billions for the first quarter. You have IDIOTS like JOHN BOLTON coming on FOX news saying time for talk is over and the miltary has to go in and make a regime change despite the eventual destruction to our own economy. This kind of USELESS talk is what got us into a recession during the BUSH years, and it appears the GOP wants to do it once again.
Now, talking heads like Rush Limbaugh are complaining about the price of a gallon of gas, despite RUSH's own position in 2004 that he would drive his 8 cylinder 12 mile per gallon mercedes benz all day long no matter if gas rose to $10 a gallon! Now, he has a problem with the price of OIL?
I have a question for you all..... WHAT HAPPENED TO YOUR SUPPLY AND DEMAND ARGUMENT just a few years ago?
You cant have it both ways. Either you support capitalism, supply and demand as you did during the BUSH years and the eventual high price of OIL that comes from that belief or you join the democrats and rally against the GOP, its talking heads and surrogates who promote wars and the eventual jacking up of oil by the speculators.
OR, you dont complain at all.
Peace.
TOS
The BUSH administration, the GOP, the talking heads for the GOP on FOX NEWS, RUSH LIMBAUGH and the followers of all these groups spoke on OIL everyday saying that the price of OIL was nothing more than SUPPLY and DEMAND.
Production was at 99.9% according to BUSH and OPEC and there was talk about supplies running out around the world. Rush Limbaugh spoke everyday during that time on OIL saying he will gladly pay $10 a gallon for fuel because of capitalism and supply and demand.
Many on this board over those same years "echoed" those same sentiments on OIL talking about supply and demand and their support for BUSH and his OIL policies.
Today, however, its seems we have an about face on oil from not only those on this board who previously supported high oil prices, but from the GOP itself and all its talking heads.
Now, it seems, $4 a gallon gas is a CRISIS! Oil at 106 is a key to disaster! "Watch out america, Obama is killing the USA with high oil prices!"..... Boy oh boy, here comes the rhetoric.
Lets look at some facts. First, OPEC is now only producing at 71% of its capacity for OIL production ( down 28.9% ) as there is a GLUT of OIL in the world markets. ( what happened to supply and demand?) OPEC also says that the price of a barrel of OIL should be at $70, so why is it at 106 today?
Second, in the USA, there is so much stock of OIL, its being sold overseas, so there is no supply and demand problem in the USA, so again, why $106 a barrel? Third, OIL production in the USA is at its highest levels in 6 years so why is OIL at $106 a barrel?
Fourth, the GOP says that IRAN cutting off OIL to the UK and France is hurting the price of OIL, but thats not true at all. The UK and France only get 1% of their OIL from IRAN and that is being made up by new contracts with libya, so why is OIL at $106 a barrel?
Well, the answer lies with the GOP and its talking heads who are promoting another useless war in the middle east. Everyday now, the talking heads on FOX keep drumming up the war drums against Iran and the speculators once again are gouging the american public enriching the oil companies to the tune of billions for the first quarter. You have IDIOTS like JOHN BOLTON coming on FOX news saying time for talk is over and the miltary has to go in and make a regime change despite the eventual destruction to our own economy. This kind of USELESS talk is what got us into a recession during the BUSH years, and it appears the GOP wants to do it once again.
Now, talking heads like Rush Limbaugh are complaining about the price of a gallon of gas, despite RUSH's own position in 2004 that he would drive his 8 cylinder 12 mile per gallon mercedes benz all day long no matter if gas rose to $10 a gallon! Now, he has a problem with the price of OIL?
I have a question for you all..... WHAT HAPPENED TO YOUR SUPPLY AND DEMAND ARGUMENT just a few years ago?
You cant have it both ways. Either you support capitalism, supply and demand as you did during the BUSH years and the eventual high price of OIL that comes from that belief or you join the democrats and rally against the GOP, its talking heads and surrogates who promote wars and the eventual jacking up of oil by the speculators.
OR, you dont complain at all.
Peace.
TOS