Bush started a war to drive prices up?


http://news.yahoo.com/s/ap/20060927/ap_on_bi_ge/oil_prices

OPEC (http://search.news.yahoo.com/search/news/?p=OPEC) recently reduced its demand forecast for the remainder of the year because of a decline in consumption in the U.S. However, some cartel members have insinuated that oil prices below $60 could prompt a production cut, and Eurasia Group energy analyst Greg Priddy said in a research note Tuesday that Saudi Arabia and Kuwait might even make unofficial cuts to their production.

So if we use less, they will produce less, the bastiches....

Don't forget there's an important election coming up.:devil

Also don't equate lower consumption due to what was very high oil prices to being a policy change for the current administration. People are decreasing consumption because of pricing. That will obviously have the supply and demand effect of lowering pricing.

From what I've read, the current drop (http://tonto.eia.doe.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm) in gas prices is consistent with the post-summer period and decrease in crude oil (http://tonto.eia.doe.gov/dnav/pet/pet_pri_wco_k_w.htm) costs.

not to mention the additives they have to put in the fuel during the summer months that add to pricing that have since been removed for the year.

PS- my post was in jest...hence the little devil.

The drop also has to do with refineries and goverment stock piles being at thier highest since the early 90s. when the big buyers are full you see a drop in price because demand is going to go down. there is an article by some guy who predicted all of this, and explained why. I will see if I can find it and link it here, my boss was telling me about it.

Rev

Yehhaaaaa break out the big truck again.

umOil is at like 56 a barrel..... it better get kickin' again if I'm going to be right at 100 at the end of the year!!!!

Guess it is time to buy more :)

Damn that whole supply and demand thing...

Im sure it wont rise again and continue to rise... oh starting in 6 weeks or so.