R J
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Why say anything about the little darling. moth is right have a 45 day supply. OPEC puts out 37 million a day and have said they have 5 million in Reserve to make up any shortage. libya only does about 1.5 million bod and most goes to Europe. It has to do with our House and Senate being paid billions by the lobbyists and sigs, billions, 2009 they got $3.9 billion*. Reid got $6 million and he counterpart Cochran got $5.5 million. oNly reason Reid got little more is that they controlled both houses. The lobbyists also employ their families, like all of Reid's kids have worked for lobbyists.
They deregulated it and if you remember right at the end of bush's terms oil went to $140 a barrel. That was due to manipulation by Morgan stanley and Goldman (please google tons of stories). They didn't have to keep any records. The only thing worse for the economy was the Clinton administration making banks give loans to people who couldn't afford them. To make them affordable they made the mortgage payments real low lie apartment rent and then after five years the payments shot up to where they couldn't afford them.
Jamie Gorelick helped this housing destruction, yes the same Gorelick that jumped over and worked under Reno and set up the "wall" between FBI and the CIA which led to 9/11. Well she left and now represents BP, LOL.
So they are still driving it up, it's a shame and gop is right all of the rich on both sides making the money.
Redjr01
Because he isn't. Most of this has to do with the unrest in the Middle East. However, the real story is that the oil companies are taking advantage of the unrest and jacking up prices simply because they can. We get most of our oil from Canada, so we shouldn't be affected by what is happening in the Middle East. So, the jump in prices is nothing more than the oil companies passing on costs to consumers to jack up profits.
Don't worry. As soon as the price of oil starts moving the economy back into deep recession, Obama will open up the reserves. We're still in recovery and any politician that wants their seat back better make sure we don't fall back into a state of despair.
?
Oil is not topping 4 dollars a gallon it has topped 100 per barrel on world market. There are 55 gallons of oil per barrel. Do the math.
ndmagicman
Oil is $4 a gallon? Oil?
Ignoring your obvious brain fart. The price of gasoline has risen directly because of the recent, and continued, unrest in the Middle East. Where as we all know, a large portion of the world oil supply comes from.
Partly Cloudy
Don't know - but someone did tell me before the 2008 election that George W Bush was keeping the price of oil down because "he didn't want there to be a black president" Funny how few people understand these things.