Will the recent oil market example register with the left?

Several month back, President Bush firmly committed to domestic drilling as a facet of America’s energy policy and as a means of breaking our dependence on foreign oil. The left, particularly Obama, said that this would have no affect on the price of oil or gasoline. And yet within weeks, the price of oil dropped to, I believe, around a barrel. The price at the pump dropped by about a dollar. ‘Experts’ in the media said that this was because of the decreased demand resulting from conservation. And yet, the demand had been dropping rather consistently over the past couple of years while price continued to rise. But let’s ignore that fact. Then, last week, the House passes an energy bill that, effectively, does nothing and provides arguably greater restrictions on domestic oil and gas production. Within days the market sees the biggest jump in the price of oil in years. Did ‘demand’ suddenly spike? Did the dollar suddenly lose 20% of it’s value? No. Both of these events had one thing in common; a commitment to independence (price drops) and a reversal of that commitment (price rises).

But will the left, and particularly Obama, learn anything from this very obvious lesson in market economics? Or will they continue to act like the three little monkeys? And if not, what does the future of America’s economy hold with such naivety, ignorance and the resulting poor judgment?
COW: The president didn’t ‘threaten’, he committed and took action to put his commitment in action. But to answer your question, yeah. That really would have been all that was needed. Ever hear of a group ‘threatening’ a boycott? They often get results, don’t they? There is such a thing as ‘market conditions’. You stand to lose your biggest customer, even just maybe, and the market reacts. That’s how markets work. That is what the left does not understand. And, again, it is this ignorance that causes me the greatest concern.
HURRICANE IKE: Gang, Ike was two weeks ago. And for days after, the price of OIL continued to DROP. The price of oil didn’t increase until AFTER the democrats passed their energy bill. Markets react quickly. But I guess they don’t have access to news in the Middle East. Maybe it takes a while for news of the hurricane to get to them. That would explain it. But I want to thank many of you for demonstrating my point.
CLOSE: Way to stay on topic, dude and in making comments that have absolutely nothing to do with my question and in responding to statements I didn’t even make. But thank you for considering the limitations of MY mind.

14 Responses to “Will the recent oil market example register with the left?”

  1. suthrngal Says:

    I have serious doubts and they’ll continue acting like the three little monkeys. Now that OPEC knows that we’re not serious about this (thanks to Pelosi and gang), they’re cutting back on production to up the prices again. Well done, Democrats. But as usual, let’s blame the Republicans.

  2. asking Says:

    True….but funny things happen before an election….hmmmm…..

  3. Holy Cow Says:

    So your saying we don’t need to drill just threaten to and everything will magically get better. Oil is over. Let it go.

  4. Jupiter Ceasar Leprechaun II Says:

    yes i see the price of gas ( and food and everyting else except my home which is devalued ) see bush caused it see Johnny is McSame and make sure i’m registered to vote for Obama

  5. DINO Says:

    drilling is a bad idea for the world!!!!
    we must use less oil !!!

  6. words_smith_4u Says:

    Great idea, but I think that there was a small issue with the stock market. Not quite sure – but there was something that lessened confidence. Oh and that bit of wind and rain… ohhh what was it called? Right – Hurricane Ike.

    Cause and Effect is wonderful – just make sure you have the right causes

  7. dpj5 Says:

    I believe the Dems. are going to let the ban on offshore drilling lapse this coming Tues. What took the idiots so long? It took a national catastrophe.

  8. Golden Says:

    i don’t see your "very obvious lesson in market economics." the facts remain, big oil has the leases they need to develop american drilling; if they started drilling tomorrow it would be years before a single drop of gas was produced from new well; and that oil would go from the well to the world market.

    on the other hand, venezuelans pay pennies a gallon for gas. why? they very reasonably decided that the resource belonged to the nation and it’s people and not international corporations (bush’s owners).

    cost of gas down the street from here, $3.80. cost of gas in Caracas, $0.12. hmmm.

  9. Gabriel K Says:

    You’re forgetting an important piece of the puzzle, OPEC. The price drop occurred shortly after they increased production. That coupled with oil future speculators whose bubble burst at the same time. That caused the price drop of about 50 cents a gallon and down to about $116 a barrel (your figures are a little optimistic.)

    The price recently went up when OPEC cut production while Galveston was getting struck by a cat 3 hurricane.

    Your regulatory argument has much less affect on the market than artificially restricting supply.

  10. justagirl Says:

    I keep trying to explain this to you, but you will not listen. Do you suppose that Hurricane Ike disrupting the oil supply, and the current market upheaval had anything to do with the jump? If not, then I cannot help you.

  11. monkeydong3 Says:

    Bush didn’t firmly commit to anything except doing what his oil buddies in Texas told him to do.

    You’re an idiot.

  12. Close it! Says:

    Try this on, as it relates to your question in a way that hopefully your mind can grasp (seeing as you are so informed). In 2001, after the tech bubble had burst, investors were looking for the next "big thing". The Republican Congress decided to make that the housing market. Well, we see how that turned out now.
    Imagine, just for a second, if Congress had decided to invest heavily in alternative energy resources at that point. Where would we be now? I’d guess we wouldn’t be crying about the price of oil, as we would be light years ahead of our current situation in regards to energy independence, tens of thousands of good jobs (that would be difficult to outsource) would have been created, and the alternative energy bubble would be expanding still. People would be getting wealthier, our country would be safer, and we’d have regained our footing as the leader in this world by once again showing our pregressive strengths.
    My suggestion to you would be to quit banging your head on the wall about oil, blaming Dems for everything you don’t like, grow up and get with the program. People who think like you leave no hope for our future. You’ll be bitching about the price of oil in twenty years because you failed to see the writing on the wall sooner.

    Edit: You made my point for me. Your failure to grasp the real solution to this oil debacle is sad. You just want to play partisan politics with your cherry-picked information. You don’t seem to understand correlation v. causation. you can’t grasp cause-and-effect. You also chose to ignore my comments because you have no good response, other than to say they aren’t "on topic". Grow up and become part of the solution. You are not out to "teach" anyone anything. All I ever see you do is belittle Dems. Does that make you feel better? Is it helping? You add nothing to any attempts at solving our collective problems. Keep pointing fingers. It’s really helping.

  13. Timelord Says:

    The Left need the high cost of oil as much as bad news in the war to gain power. Plus they need to keep the cost up to keep getting the big money from Big Oil.

  14. The 21st Century Invader Says:

    Yes, just as your lies register.

    "The price at the pump dropped by about a dollar."

    The price of gasoline was $4.00 a gallon here, now it’s $3.37…that is NOT a drop of "about a dollar". Get a calculator or an adult that knows basic math to run the numbers for you.

    Besides, the price of gasoline in Janauary of 2002 was 98 cents a gallon here in southern Arizona. Heckuva job bushie!