I had a wingnut boast to me today that the decline in the cost of oil

[CatWoman]

is a direct result of Bush's "leadership" in calling for offshore drilling.

I can't make this shit up, folks.....

[Gato Moteado]

1. did you put the demented slime out of his misery?

and out of ours?

[CatWoman]

7. I'm sorry to say that I was taken aback so

that all I did was stare at him (before breaking out laughing) :)

[Gato Moteado]

12. awesome!

it's always fun to laugh in freeptards' faces

[davidinalameda]

2. that's the current talking point

I was listening to right wing radio the other day and whomever it was said that if the US announces that it will start drilling, OPEC will lower prices in order to make offshore drilling less profitable

[JuniperLea]

6. Pft! If anything...

OPEC would raise the prices just to fuck with him. It would take years for that drilling and refining to happen. There's no way OPEC is going to lose profits for that long.

[TheCowsCameHome]

3. Tell the wingnut to call back when gas goes under $2 a gallon

..............And to hold his breath as a gesture of goodwill.

[JuniperLea]

4. He must believe that Bush waved that magic wand...

And low and behold the oil came gushing up from the Earth, and Bush saw that it was good. And the oil sprang from the depths of the oceans, and from the wild lands of Alaska, and it wound its way around the globe until it reached the refineries. Then the blessed liquid continued on its journey, magically appearing in your neighborhood gas pumps... and the price on the sign changed magically and instantly! Whoosh! Ting! And it all happened in a twinkling of Bush's eye! Ting! Ting!

Yeah, the fairy tales are really something. A lot of true believers out there.

[TheCowsCameHome]

9. His wand, magic or otherwise,hasn't worked since the twins were conceived

[JuniperLea]

22. Rim shot!

[bbinacan]

5. Might be partially correct.

The speculators have been riding a big wave and many have huge unrealized gains. This coupled with the fact that crude and gas inventories rose rather than declined (as had been anticipated) and the coming expiration of contracts can spook a speculator.

[CatWoman]

10. but.....but....

according to them (the right wing echo chamber), the speculators have absolutely NOTHING to do with the high oil prices :sarcasm:

[bbinacan]

14. They are wrong.

I spent 18 years as a stockbroker and I know the speculator's mindset.

[screembloodymurder]

13. The price didn't go down till he uttered the dreaded word ...

conservation.

In fact, the price went up when he lifted the drilling restrictions.

[bbinacan]

15. I thought he said

he wouldn't promote conservation.

[screembloodymurder]

20. He said by all means conserve, but I'm not going to dictate

what the American people must do.

[bbinacan]

23. Thanks for the clarification. n/t

[Zynx]

32. As increased drilling has no impact on supplies at all even in theory this is absurd.

What has caused it is the realization that enegy demand will not be immune to the slump in the general economy.

[bbinacan]

34. How does increased drilling

have no impact on supplies?

[NewJeffCT]

8. so, the $100 increase over the last 7 years is because of????

let me guess, the Democrats?

[bbinacan]

11. No, primarily increased

demand worldwide, especially China and India, plus a speculative bubble.

[Liberal In Texas]

16. Or, it could be the speculators heard that the Dems are calling for the release of some of the

inventory in the Strategic Petroleum Reserve.

That would have an immediate effect on supply in the US, and an almost immediate drop in gas prices.

[bbinacan]

35. Release of SPR

does nothing. There have been multiple posts here on DU about this.

[Greyhound]

17. He has at least 59,000,000 contemporaries, wonder why we're in such deep shit? n/t

[Jack Rabbit]

18. Maybe you can't make this stuff up, but your friend sure can

Oil drops to $135/barrel. Let's see if goes down any further in the near future.

Anybody wanna take bets? What are the Vegas bookies saying?

[RNdaSilva]

27. Is this trading on Intrade?

[muntrv]

19. Remind the kool aid drinker that gas was $1.47/gallon when Chimpy took office.

[TheCowsCameHome]

24. Saw that on a bumper sticker in town today

It seems like decades since prices were that low............

[spanone]

21. his 'bold initiative'.....fuck me

[DebJ]

36. I think he already did that to you

[DFW]

25. This same guy.....

He must go around to maimed Iraq vets who got both arms
blasted off, watches one of them wake up, finally able
to wiggle a toe, and pronounce him cured and ready for
another tour of duty (which the wingnut is just too busy
to do, himself, of course).

[zbdent]

26. hand him a straw, and tell him to grasp firmly ...

[Zomby Woof]

28. You know, Midori...

Euthanasia has untapped possibilities.

[CatWoman]

30. *snarf*

:hi:

that would be a step up for him :)

[roamer65]

29. Turn the wingnut's world upside down tomorrow with this story.

http://www.guardian.co.uk/world/2008/jul/17/usa.iran

US to re-establish diplomatic relations with Iran.

[bdamomma]

31. oh god, I would done this

:puke:

[Ilsa]

33. Did you ask him why the price for a gallon is still rising while the cost "goes down"? nt

[wishlist]

37. Media has failed to explain that oil companies have thousands of unused permits already

Dems in Congress are trying to pass a bill mandating that oil companies must first drill in the thousands of places they already have permits, before seeking permission to drill in the most environmentally sensitive areas. Several like Joe Biden have been trying to call the Repubs/oil lobby's bluff by explaining the true situation. Pretending that oil companies aren't allowed to drill anywhere so Dems can be blamed for the high oil prices is a cynical dishonest political maneuver that needs to be exposed. Just like the lie that Dems and environmentalists have blocked all new refineries when in fact oil companies have been given permission in several states for refineries for several years now, but the oil companies have chosen to not invest in many new refineries that they could build if they decided to do so.