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Buzz
06-20-2012, 11:59 AM
Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!



Oil fell after the Energy Department said U.S. crude stockpiles rose to the highest level in almost 22 years and as investors awaited a Federal Reserve announcement on whether it will act to bolster the economy.Futures dropped as much as 2 percent after the report showed supplies rose 2.86 million barrels to 387.3 million last week, the highest level since July 1990. Supplies were forecast to decline, according to analysts surveyed by Bloomberg. The Fed may announce more stimulus measures at the end of a two-day meeting this afternoon in Washington (http://topics.bloomberg.com/washington/).
“We are down because inventories were plentiful even before today’s report,” said Todd Horwitz, chief strategist at Adam Mesh Trading Group in Chicago (http://topics.bloomberg.com/chicago/). “We will probably take out $80 in the next couple weeks.”
Crude oil for July delivery fell $1.63, or 1.9 percent, to $82.40 a barrel at 10:55 a.m. on the New York Mercantile Exchange (http://topics.bloomberg.com/new-york-mercantile-exchange/). Oil traded at $83.02 before release of the inventory report at 10:30 a.m.
Brent oil for August settlement declined $1.26, or 1.3 percent, to $94.50 a barrel on the London-based ICE Futures Europe exchange. Futures ended yesterday’s session at $95.76, the lowest settlement since January 2011.
Crude stockpiles were forecast to decline 1.3 million barrels, according to the median of 11 analyst estimates in the Bloomberg survey.

road kill
06-20-2012, 12:12 PM
Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!
Yep, he is doing exactly what I and almost everyone else have been suggesting he do.
Open drilling in the Gulf!!!!

Excellent move..............:cool:

Even though both he and you have claimed he has no affect on oil pricing, you are the first to claim credit for him!!
HAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!

When there is blame to be taken Obama GIVES it, when there is credit to be given Obama TAKES it!!!!

paul young
06-20-2012, 12:27 PM
Yep, he is doing exactly what I and almost everyone else have been suggesting he do.
Open drilling in the Gulf!!!!

Excellent move..............:cool:

Even though both he and you have claimed he has no affect on oil pricing, you are the first to claim credit for him!!
HAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!

When there is blame to be taken Obama GIVES it, when there is credit to be given Obama TAKES it!!!!

i know you love to laugh loudly on here Stan, but i'm pretty sure you know that any drilling that takes place today or in the next 5 months will have no effect on the amount of oil stockpiled today. it's nice to see someone on here in a good mood, though!

i don't think Obama has anything to do with that. the large stockpiles probably have a LOT to do with investors who bought into the market when prices were up who now are preferring to wait to sell, rather than sell at a loss now.-Paul

Franco
06-20-2012, 04:27 PM
I love it!
Just paid $3.04 a gallon for 87 octane pure gas (no ethanol).

Just one benefit of the Recession.

Gerry Clinchy
06-20-2012, 07:09 PM
It occurs to me that maybe stockpiles are going up because people are hurting and being more careful about using gas? You can only conserve so much in electricity, or heating oil ... but being more careful about "recreational" driving can be an option that can impact a family's bottom line.

Buzz
06-21-2012, 08:30 AM
It occurs to me that maybe stockpiles are going up because people are hurting and being more careful about using gas? You can only conserve so much in electricity, or heating oil ... but being more careful about "recreational" driving can be an option that can impact a family's bottom line.


Jerry, it occurs to me that I cannot make a single sarcastic statement about Obama or anything else related to politics without you putting a negative spin on it. You should be working for Faux News me thinks! ;-)

Gerry Clinchy
06-21-2012, 09:40 AM
Jerry, it occurs to me that I cannot make a single sarcastic statement about Obama or anything else related to politics without you putting a negative spin on it. You should be working for Faux News me thinks! ;-)

Sorry you view it that way, Buzz, but I don't feel I need to apologize for trying to view things from the grassroots level.

Marvin S
06-21-2012, 11:22 AM
Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!

The bigs are doing well in WA - Amazon, MSFT, Boeing -it's the littles that are not, & it shows in state revenue & for the little guy with a business who has no traffic flow. Living in a college town with a WW employer is not a good base for observation :).

As for energy it has little to do with the POTUS, whose animosity toward anything successful is evident, it has to do with lowered demand & the talents of the oil companies in providing product.

Buzz
06-21-2012, 12:34 PM
Sorry you view it that way, Buzz, but I don't feel I need to apologize for trying to view things from the grassroots level.


Gerry, sorry I misspelled your name in that earlier post...

Buzz
06-21-2012, 12:37 PM
The bigs are doing well in WA - Amazon, MSFT, Boeing -it's the littles that are not, & it shows in state revenue & for the little guy with a business who has no traffic flow. Living in a college town with a WW employer is not a good base for observation :).

As for energy it has little to do with the POTUS, whose animosity toward anything successful is evident, it has to do with lowered demand & the talents of the oil companies in providing product.


I agree with you. This was supposed to be a tongue-in-cheek comment to those who have been blaming high oil prices on Obama energy policy. There are a lot of factors that go into it, US energy policy being only one...

road kill
06-21-2012, 01:07 PM
I agree with you. This was supposed to be a tongue-in-cheek comment to those who have been blaming high oil prices on Obama energy policy. There are a lot of factors that go into it, US energy policy being only one...

Buzz, I could help you perfect this talent!!!
(but most don't get the profound humor we offer);-)

Just sayin'.........

starjack
06-21-2012, 07:16 PM
Man i enjoyed filling up today paying 3.57 just smiles all around:rolleyes: