01-18-2007, 11:24 AM
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Site Moderator
Guru
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Join Date: Mar 2004
Location: Boston
Posts: 14,588
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Don't hold your breath waiting for Ben to post
Quote:
Originally Posted by Sadistic-Savior";p="
Quote:
LONDON (Reuters) -- Oil prices plunged more than 3 percent back near $51 a barrel Tuesday after Saudi Arabia said OPEC production cuts were working well and that there was no need for an emergency meeting of the producer group.
U.S. light crude for February delivery tumbled $1.78 to $51.21 a barrel after touching $50.93, the lowest since May 2005, in earlier New York Mercantile Exchange trading. In London, Brent futures shed 82 cents to $52.30.
The price of crude has plunged more than 16 percent this year in part due to warm weather in the Northeast, the world's top heating oil market, in early January.
http://money.cnn.com/2007/01/16/mark...ex.htm?cnn=yes
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Ben Franklin was estimating that we would not see prices fall below $60 a barrel before the 2008 elections, because the evil Republicans would be punishing us with high oil prices for making them lose Congress. And as we all know, Republicans are the ones who control oil prices, not supply and demand.
Got any other predictions for us Ben? |
he only shows up when prices increase. You can be sure we'll see him again in June when prices once again start to rise.
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All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO
SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.
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