Oil closes at $67.40 a bbl - Will THIS finally destroy Bush?

[benburch]

All of the local Rethuglicans seem to be selling their SUVs, and they can't be happy about that.

When will they turn on him?

Ever?

[stevedeshazer]

1. Sadly, no

Their oils stocks are still going up.

[BlueEyedSon]

2. No, $75 maybe....

[gratuitous]

3. No, they're still trying to say it's not his fault

You know, like when the price of gas was edging up toward $2 a gallon back in 2000? All the conservative talk folks agreed that it was just the nature of things, and no one could honestly or fairly blame even Bill Clinton for the then-high price of filling up at the pump.

Hi, I just got back from Tralfamador!

[Neocondriac]

4. Keep in mind.

That a barrel of Kuwaiti crude oil costs $1.69 to produce.Would you pay $25.00 for an ice cream cone?

[iconoclastic cat]

5. No. Evil never dies.

[still_one]

6. No, because this is what the echo chamber says

This is from S&P

"...
The worries appear overblown to us, and oil, though pricey, is far from its all-time peak in inflation-adjusted dollars. Crude sold for $39 a barrel in 1981, but that translates into more than $87 a barrel in today’s dollars. David Wyss, Standard & Poor’s chief economist, believes that oil would have to reach $100 a barrel to tip the U.S. economy into recession. "


ARE AMERICANS MORANS???

How can they say in one breath there is no inflation, and in the same breath say because of inflation 70 dollar oil prices is actually cheap!!!

[Al-CIAda]

7. $100 by Christmas, imo.

[Oerdin]

16. Won't happen.

Prices typically decline at Christmas and rise in the summer due to vacation driving and more air travel. Not to mention the winter blends are cheaper to make then the low smog summer blends.

It all depends upon Saudi, Iraqi, and Russia oil production. If Saudi is peaking (and that is a very huge if which no one has confirmed) then that means their product will stop growing and start shrinking in a few years. There will be no dramatic reductions in output for them though they will no longer be able to increase production to fill demand so prices will slowly rise.

You're not going to see a 33% increase in 3 months like you're predicting though.

[Jacobin]

8. The next presidential election is 2007, and no he's not resigning

And no, this republican congress will never ever under any circumstances ever even think about impeaching him.

So the short answer is 'no' this will not destroy him

[bpilgrim]

9. definitely a big drip - everyone is talking about

while the M$MW's try to tell us it ain't that bad :crazy:

it will make the neoCONs more desperate and that has me very nervous :scared:

peace

[1932]

10. Bush jacking up oil prices and giving Detroit another chance

(when Americans have to sell their SUVs and buy new cars) might make regular Americans mad, but it's going to make the people who donate to the Republican Party happier because it will channel even more money from poor to rich despite the fact the economy is falling apart.

[DS1]

11. I got to do the pinky wave at a Hummer driver today!

I smiled the rest of the way back to work :7

[Tyranny_R_US]

12. Nope the only thing that will destroy him... (dramatic pause)

is truthful reporting in the news media. :)

[Another Bill C.]

13. But Bush said...

Here's what Bush said in 2000 when gas was selling for $1.60:
"What I think the president ought to do is he ought to get on the phone with the OPEC cartel and say we expect you to open your spigots. One reason why the price is so high is because the price of crude oil has been driven up. OPEC has gotten its supply act together, and it's driving the price, like it did in the past. And the president of the United States must jawbone OPEC members to lower the prices"

[hatrack]

18. Is that why he keeps gnawing air biscuits whenever he talks in public?

I mean, you could interpret that as "jawboning" - he's sending secret signals to his Saudi buddies.

Guess they forgot the secret code. :shrug:

[Coastie for Truth]

14. No. Will take a further collapse of GM, Ford, Chrysler and vendor network

(Bush Chief of Staff Andy Card is a former GM Executive).

I think oil prices and pump prices have no effect on Bush's popularity. People perceive even $4 or $5 a gallon ($125 a barrel) as a temporary aberration. The eternal optimism -- prices will come back to normal "as soon as we win in Iraq."

It will take an oil driven recession with a major collapse of the domestic auto industry (including the vendor network and the dealer network) that he can't blame on somebody else

[Oerdin]

15. I continue to pray for $100 oil

As that is the only thing which will force us to change our insane wasting of energy. We need more efficent cars, more mass transit, nuclear power plants, and more energy efficent buildings. Nothing will change until we get another oil shock.

[Lori Price CLG]

17. No. The GOP owns Sequoia, ESS, and Diebold. n/t