White House wants oil price at $25 a barrel

[RamboLiberal]

http://cnn.netscape.cnn.com/ns/news/story.jsp?id=2005051118340002871177&dt=20050511183400&w=RTR&coview=

The White House wants to see oil prices fall by about half to around $25 a barrel although reaching that goal may take time, President George W. Bush's top economic adviser said on Wednesday.

"We would like to see the price get back to around $25 a barrel, somewhere around there," Allan Hubbard, director of the White House National Economic Council, said in an interview with Reuters as crude oil prices hovered around $50, down from the record-high above $58.

Hubbard acknowledged: "It's going to take a while for the world energy supply to expand so prices can drop."

The administration has shied away in the past from giving a preferred target for oil prices.

An administration official said later that Hubbard was speaking "theoretically about a goal, but the White House is well aware that markets set the price for oil."

[musette_sf]

1. And people in hell want ice water. n/t

[Delphinus]

25. Now that's a much clearer analogy

than the one I was thinking! Thanks! :hi:

[phantom power]

2. And I want a pony for my birthday.

What a bunch of maroons.

[tinanator]

3. so they really want $75 a barrel?

support the truth

[fob]

58. Indeed. I call BULLSHIT too. If they want twentyfive dollar a barrel

gas their policies would be the EXACT OPPOSITE of what they are right now.

The entire administration is "on loan" from the gas/oil industry but they want to help the average American, now, 4 plus years too late. Uh huh, sure. Next thing you'll tell me is that george bush* DOESN'T masturbate horses!

[Wickerman]

4. WH Release: Oil Barrel sizes to be reduced by 3/4s

[Journeyman]

14. LOL . . . that's great. . .

[kikiek]

15. Haha..well it works at the grocery store!

[MaineDem]

16. That's hilarious

:rofl:

But, please, don't give them any ideas.

[converted_democrat]

19. Ha!!!! Great minds think alike!!!!!!!

That's exactly what I was thinking!!!! That's what they pull with the jobless reports!!!!!! They have recalculated 3 times how they arrive at the jobless number since Bush has come to office. This administration is soooo sneaky!

[Inland]

23. LOL! Pack your bags, you've been appointed Chief of Staff nt

[MissB]

36. Bwahahaha

:rofl:

[lapfog_1]

40. Much like a $.05 Hersey bar (size changed dramatically)

[rfkrfk]

64. the 3/4's idea worked in Canada

former tax on Imperial gallon, now,
tax on liter

[hatrack]

5. Allan Hubbard - Dumbass

So, if "the White House is well aware that markets set the price for oil", what exactly was the point of this little excursion far, far from reality?

Oh, yeah, I forgot, to prove that the entire Bush White House is in a seamless bubble of What It Wants To Hear, down to the last and least economist.

[Parche]

6. oil

and when oil does go down to $25 a barrel

they will praise GW Bush for helping with lowering oil prices

[physioex]

13. Don't hold your breath waiting for that to happen...

The world demand for oil has gone up with countries like China and India.

[Name removed]

21. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DireStrike]

27. Two things.

1) We got one major producer, OPEC.
2) Sales can't increase as we run out of cheap oil to pump out of the ground.

Producers compete to get an edge, not to take losses in profit. Most oil producers can't be driven out of business.

[physioex]

32. Looks like invasion of the freeps........

[Deja Q]

7. ROFL. That can only be done if demand is reduced dramatically.

So, who needs the most oil and how can we get them to stop buying which in turn causes prices to drop because the demand is no longer there?

Well, on last count, China and India are developing quite nicely. How about Russia? Oh, and the EU... And Canada, but we have NAFTA so we can take their oil any time we please. And there's little in Mexico apart from DVD pressing plants, so they're not an issue...

[mike_c]

8. the drugs must have been delivered recently....

They're trippin'.

[MaineDem]

9. "...for the world energy supply to expand "

Hello??? Aren't we trying to lessen our dependence on oil? Isn't the supply limited? Saudi crude is not good enough and Iraqi oil supplies, I've heard, aren't big enough to last for long - even if we can get it pumped out.

More oil...that's the ticket! Good grief.

[hippiechick]

10. key phrase: "the world energy supply to expand

so prices can drop."

That's all Joe and Jane Sixpack are going to hear.
"So hell yeah, let's invade Iran !!
Hell yeah, let's invade Syria !!
Libya, too !!
Oh and let's drill in ANWR !!
And Wyoming !!
And Washington State !!
We need our damn cheap oil !!"

:eyes:

[havocmom]

39. You forgot Poland

and off the California coast, which is probably what it is all about.

Amazing that when car companies start looking like they are going belly up and people start asking embarrassing questions about why conservation is not being discussed, the junta puppet starts talking cheap oil. Gee, who saw THAT coming? ::yawn::

[bpilgrim]

11. that would require us to invade Iran & Saudi

guess they're next...

http://images.globalfreepress.com

peace

[kikiek]

12. If they can control the oil prices they can control the world. Makes

the world look like one big heroin addict only we're shooting up oil.

[rustydad]

17. Sure

Oil could come down to $25 a barrel. All that need happen is the destruction of the American economy, a feat GWB is close to accomplishing. Reduce world demand by the 25% the US uses and prices fall like a roak....for a few years. Bob

[Imagevision]

18. what a bunch of crap! - tell that to Cheney!

Bush & Cheney, they're oilmen...are you kidding?!!

[gristy]

20. "reaching that goal may take time..."

Yeah, about 3 years. Bet on it.

[DireStrike]

22. So... are we gonna destroy half of the world's industrial infrastructure?

Oil gets cheaper if nobody can use it.

[UpInArms]

24. wish in one hand

and spit in the other -

see which one gets full first :eyes:

[Cobalt Violet]

26. Hmmmmm... Is that US dollars?

[DireStrike]

29. Oh that's right - we have a STRONG DOLLAR policy!

He simply wants the dollar to double in buying power!

If we stop printing right now, it can be done. But it will take time!

[indepat]

28. Don't I recall W early on feeling OPEC's pain? $25, yeah!

[brooklynite]

30. Probably hit that price...

at the same time he cuts the deficit in half.

[Sanity Claws]

31. And I want a pony!

[silverweb]

33. Okay, I can see this happening.

But only when all oil industry resources are switched from waging war, exploring, and drilling for fossil fuel oil to producing oil from waste and biodiesel from renewable crops.

Oil from waste: http://kantor.com/useful/thermo.shtml

Biodiesel: http://www.biodiesel.org/

[Viva_La_Revolution]

45. Thanks for the links!

I finally got my Repug boss to consider biodiesel, I think it was the mention of tax incentives that got him. Of course I had just shown him that our fuel bill for last year was about $3200 a month, now it's over $5000.

[silverweb]

55. You're welcome!

Here's another link that is just chock full of all kinds of good information on alternative fuels, vehicle conversions, etc:

http://www.greenenergynetwork.com/pages/_members/_members.htm

:hi:

[DS1]

34. They edited out the "Pretty Please?" at the end of that release

Then the Prince had a release of his own :eyes:

[DearAbby]

35. :::Dr. Evil Voice:::Riiiiiiiight

The oil companies are all saying, "stop STOP, what are we to do with 2.5 million dollars an hour?" "NO NO obscene Profits on the backs of the middle and poor class!" "Oh Gawd, make it Stop!"

Riiiiiiiight.

[catnhatnh]

37. Please sir...

...I want some more..C.Dickens

[IChing]

38. Allan Hubbard was a classmate of Bush.

Allan Hubbard
AKA Allan B Hubbard

Born: 8-Sep-1947
Birthplace: Jackson, TN

Gender: Male
Ethnicity: White
Sexual orientation: Straight
Occupation: Economist, Government

Level of fame: Niche
Executive summary: George W Bush economist

Was a classmate of George W. Bush at Harvard Business School in the 1970s.

http://www.nndb.com/people/455/000094173/

[proud2BlibKansan]

41. And I want to earn a million dollars a year

teaching school.

[bunny planet]

42. Soon he'll turn water into jesus juice too.

[BlueManDude]

43. Better start kissing Saudi Prince What's His Name somewhere else.

[Skip Intro]

44. "...the White House is well aware that markets set the price for oil."

Why does bushco pointing that "fact" out make me suspicious?

They might have ended that by saying, "...the WH certainly doesn't."

Oilmen from Texas slither thru the backdoor into the WH, hold secret meetings with oil industry executives re: US energy policy, are buddy buddy with the regime in the oil drenched country that also gave us 9*11, which was used as justification to attack and invade two ME countries from and thru which oil flows, and now preside over inflated oil prices profits from which line the pockets of oil industry executives.

Maybe I read too much into things.

[chlamor]

46. Oh to live on Sugar Mountain

"Of all races in an advanced stage of civilization, the American is the least accessible to long views. . . . Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages. . . . He does not remember, he does not feel, he lives in a materialist dream."
--Moiseide Ostrogorski (1902, 302-303)

[Miss Chybil]

47. Whut Ever. nt

[democracyindanger]

48. And I want to crap butterflies.

[Roland99]

49. Better do something about the spiraling debt to save the dollar, then.

Fucking clueless bastards.


Oh wait...what am I thinking?


We've got a key PNACer running the World Bank! US treasuries will be sucked up by many a country to keep propping up the weak dollar.

Then, one day, a nice Michael Milliken worldwide economic collapse happens!


WWWHHHEEEEEEEEEEE!!!!!

[rumpel]

50. Hi hihi hahaha heheh....

:rofl: :spray: :rofl:

[Catfight]

51. Hummer sales are down, gotta get those gas guzzlers back on the road.

[MidwestTransplant]

52. Yeah right, Bandar Bush won't allow that to happen

Also with the drop in oil company profits that would ensue, it would cut Republican donations dramatically.

[HysteryDiagnosis]

53. That's so simple..... just

make 30 gallon oil drums. Pshaw.

[Voltaire99]

54. Saying (unfortunately) is believing

This will satisfy a goodly number of sheep.

"The president wants cheaper gas! But those damn _______s (insert nationality) won't give it to him! Let's invade and kill those damn _______s! Praise Jesus! ...When's Survivor on?"

[Strelnikov_]

60. "Blame Liberals For High Oil And Gas Prices!"

http://mediamatters.org/items/200504280007

On the April 28 edition of Fox News Live, as Fox News host David Asman promoted Fox's upcoming Saturday show Forbes on Fox, by saying it would "focus in on exactly who's responsible for high gas prices -- it's not who you might think," the on-screen text read: "Blame liberals for high oil and gas prices!"

[daleo]

56. Here is a neo-con solution.

Simply declare a new currency - call them "new dollars" ($N). Each new dollar will be worth 2 old dollars ($O). Then oil will be $N25 per barrel. During in the (forced) conversion, the banker friends of the neo-cons can make a killing during the exchange.

[MadisonProgressive]

57. Now I've heard EVERYTHING!!!!!!!!!

"It's going to take a while for the world energy supply to expand so prices can drop."

I guess this guy never heard of peak oil.

[sakabatou]

59. Ever hear of conservation?

If we use less, the price will lower.

[Vogon_Glory]

61. Twenty Five a Barrel? In Their Dreams, Ha! Ha!

Gee Dubya and the Duck Soup Posse wants the price of crude to drop to twenty five dollars a barrel? In their dreams! It ain't gonna happen!

Despite the Duck Soup Posse's efforts to bust open federal lands for the benefit of their fossil fuel companies, there just aren't any more mega-oil fields like Prudhoe Bay at its prime or the great East Texas oil fields to be found any more. The cheap oil has been found--and is being exploited.

Abroad, the price of oil isn't going down. The US is up against other oil consumers like a much larger, more prosperous EU and also dragons like China and India and lesser East Asian tigers. The price for seizing control of other people's oil fields has gone through the roof, as US taxpayers and Gold Star mothers are finding out in Iraq.

To the progressives out there and lurking right-wingers, too: this administration has based its domestic and energy policies on the premise of cheap oil. Those days are clearly over, and this administration's utterly irresponsible failure to support alternate technologies to move the US away from fossil fuels is not only going to cost the nation as a whole dearly, but you, too.

It won't be long now until $2.00/gallon gasoline will seem like the good old days.


:banghead: :patriot:

[rockedthevoteinMA]

62. And I would like to own a house. but that's not possible. Now we're

paying these morans to broadcast what they "wish?"

"theoretically about a goal, but the White House is well aware that markets set the price for oil." That's their own solution to everything isn't it? I guess they'll have to wine to someone who cares. Their policies (or lack of) have caused this, and they're to chickensh*t to tell people the truth about the oil situation. Dealing with this administration and their statements reminds me of working with an unruly two or three year old, who stamps his foot and says no a lot, until they get their way. :banghead:

[Zynx]

63. That's a good one. I would also like to have $100,000,000.

[modrepub]

65. Go ahead, try

And watch all the hedge funds that have been manipulating the oil price crash the market.