Comments on: McCain ‘nukes the fridge’: Now he believes that doing nothing can lower oil prices

By: paulm

paulm — Wed, 23 Jul 2008 19:05:53 +0000

oh oh… looks like the price of oil is going to drop even more…

Arctic May Hold 90 Billion Barrels of Oil

By: Paul K

Paul K — Wed, 23 Jul 2008 19:25:14 +0000

The McCain/Republican message on energy - let’s go wholeheartedly to 21st Century technologies and efficiencies while maintaining economic viability during the transition period.

The drop in the futures contract price that can be credited to the Bush policy shift is now closer to $20. There’s a chart out that shows that the sharp increase in gas prices coincides with the January 2007 Democratic takeover of the House. Could be a good time to explore the differences between coincidence, correlation and causation.

By: Joe

Joe — Wed, 23 Jul 2008 20:48:20 +0000

Paul — But the market knew that the Democrats were going to take over Congress in early November of 2006.

And the market knows that opening the Gulf of Mexico to drilling did nothing to stop the price of oil from rising, and the Gulf has 2 to 4 times as much oil as the OCS.

And that market knew that Bush would drop the executive order blocking the moratorium whenever Congress ended the moratorium.

And the market knows that it is the Democrats who are serious about fuel economy standards and alternative fuels.

If you seriously believe there is any quantitative basis underlying what you have written, then I’m afraid you have nuked the fridge too.

By: thingsbreak

thingsbreak — Wed, 23 Jul 2008 21:30:46 +0000

You thought Crystal Skull was okay?

I’m unsubscribing from your RSS feed and getting my energy news from Inhofe’s office from now on…

PS: Bjorn Lomborg and RP Jr. are saying some interesting, if not particularly grounded in reality, things about Jim Hansen.

By: Paul K

Paul K — Wed, 23 Jul 2008 22:02:08 +0000

Of course the price drop is just a happy coincidence, the kind that often propels successful campaigns. One concrete reason for the lower futures price is this week’s strengthening of the dollars vs the euro. Oddly enough, last week Bush voiced his support for a strong dollar policy. Again, is it coincidence or the result of brilliant strategy? (If I knew how to insert one of those smiley face emoticons, I’d put one here.)

By: Ronald

Ronald — Wed, 23 Jul 2008 23:38:15 +0000

I thought that the timing of Pres. Bush was interesting. The adminstration would have known ahead of time whether the government report to come out would show lower or higher supplies of oil from previous levels. Just make the announcement that you are dropping the executive order about the ban of some offshore oil drilling and the if the oil prices drop because of the oil supplies report, you can attribute it to your annoucement. I’m thinking that’s pretty much what happened.

By: Ronald

Ronald — Wed, 23 Jul 2008 23:39:53 +0000

should have had this in my post, but the executive announcement on offshore drilling was right before the announcement of higher than normal oil supplies.

By: Nick Kong

Nick Kong — Thu, 24 Jul 2008 18:07:04 +0000

Unfortunately, it’s not a joke. I just heard the same argument on the floor. A Republican congressman repeated the idea that it was President Bush who lowered prices recently, not the fact that inventory levels are higher than expected due to lowering demand (http://www.nytimes.com/2008/07/24/business/24stox.html?_r=1&ref=business&oref=slogin).

By: Paul K

Paul K — Thu, 24 Jul 2008 20:04:28 +0000

Nick Kong.
It’s not an argument. It’s a slogan. The argument is that we must maintain economic viability during the transition to 21st Century energy which is already underway and will certainly be more than 80% complete by 2040.

By: Chris

Chris — Fri, 01 Aug 2008 12:13:32 +0000

It is good the price of petrol has gone down muchly in the last two weeks