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Tuesday, August 05, 2008


Shocker: High Oil Prices Are Making Americans Conserve Fuel

Which in turn is driving down oil prices.

But, of course, the media has to put the most negative spin possible on it:

NEW YORK - Oil prices sank as low as $118 a barrel Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products.

The real story here is that lower demand driving down high prices throws a monkey wrench into the “big oil price gouging” theory of the gasoline markets.  The very theory people like Barack Obama and North Dakota Senator Byron Dorgan use to justify their “windfall profits” taxes.

All populist rhetoric to the contrary, gas prices are driven by supply and demand not greedy corporate robber barons.

Does this tick you off? Click here to email your elected representatives right here on Say Anything, or comment below.

Comments

The cure for high prices is high prices.

WOOF on August 5, 2008 at 01:22 pm

The cure for high prices is high prices.

As well as supply.

Too bad that your Democrat cohorts wish to strangle supply.

“We can’t drill our way out of this”, just like we can’t eat our way out of starvation.

likwidshoe on August 5, 2008 at 01:39 pm

For reference, the EIA reports that gasoline usage is indeed down, though apparently more than one reporter couldn’t be bothered to read a table.

http://tonto.eia.doe.gov/dnav/pet/hist/mgfupus1m.htm

And gosh, you mean the price goes down when demand goes down?  Really?

And thanks again, environmentalists and Democrats, for making sure that we can get our fuel from halfway around the world instead of from home.  It’s really environmentally sound to be fueling (pun intended) terrorist movements around the world by refusing to allow development of our own resources.

Bike Bubba on August 5, 2008 at 01:57 pm
Avatar for Mark Jaquith

Right above this comment form, Adsense is running this ad.

How about NONE OF THE ABOVE?!

Mark Jaquith on August 5, 2008 at 02:00 pm

The Bush Administration estimates that expanded offshore drilling could increase oil production by 200,000 bbl. per day by 2030. We use about 20 million bbl. per day,

That’s a long time to wait for a fill up.

WOOF on August 5, 2008 at 02:15 pm

Ironic that the price drop came at the same time that Republicans got serious about domestic drilling.


It’s all political bullshit. Liberals (and Robert108) lie and spin and twist and obscure and distract and cheat to protect their guys and hurt the opposing team. It’s like wrestling. They distract the ref while their team mate hits you with a chair. There’s no rule they won’t break, no law they won’t skirt, no crime they won’t forgive as long as they can win.

Kenny on August 5, 2008 at 02:29 pm
Avatar for Jerry

These people who continue to whine about how “Long” it will take to get any benefit from drilling(20 years, etc.), then how “small” the benefit will be; need to open their eyes.  Merely the discussion of Drilling alone, is curbing Speculation Immediately. Yes, Immediately!! “Immediate ” relief is what we’re getting.. What’s this 20 year crap..
And, after they open thier eyes, allow me to add, “Shut your Mouth”! Yes. ShutUp! You are the “Reason”, nothing ever gets done with your constant, whining debate in a time of National Security for the U.S.
We need to drive the Stake throught the Heart of foreign Energy dependence. That means doing “Everything”.
New and Reusable sources.
Nuclear.
Drilling.
All of it.

Jerry on August 5, 2008 at 03:00 pm
Avatar for Urainium238

The changing of habits to decrease use because of high prices is called “price destruction” and it isn’t causing the economic downturn. The economic downturn is cause more by the effect of subprime loans, the housing bubble breaking and decreased lending liquidity.

You can tell by tracking the market as the price of fuel rose from $20 in 2000. The market was fine until housing started the slide.

Urainium238 on August 5, 2008 at 07:43 pm

Uranium 238?

Heh, U235 is the fun stuff.

Ken McCracken on August 5, 2008 at 07:48 pm
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