August 30, 2005


Of a what, again?

Remember this?

As a presidential candidate in 2000, then-Gov. George W. Bush promised that, if elected, he would use the full weight of the White House to pressure oil-producing countries to increase production if there was a gas-price crisis. He charged, "The president of the United States must jawbone OPEC members to lower the price" and promised that as president he would "convince them to open up the spigot to increase the supply."
Now let this percolate into your brain as you head down to fill up with todays "cheap" gas.
Pump prices for gasoline, already on a steady climb all year, look like they will pass the $3 barrier soon, thanks to Hurricane Katrina.

In addition to the devastation to lives and property, the hurricane aimed an ill-timed blast at a U.S. energy infrastructure already stretched thin, especially in the capacity to refine oil into gasoline, heating oil and other products. The shutdown of oil platforms, refineries and pipelines along the Gulf Coast drove energy prices sharply higher Tuesday,

The buying frenzy reflected uncertainty and fear about the full extent of the damage Hurricane Katrina inflicted on key energy infrastructure, according to the Associated Press.

"Fill up your cars now, because I think it's not going to be long before we see $3 per gallon gas," Jonathan Murray, senior vice president at Legg Mason, said on CNBC's "Morning Call."

Preznit Jawbone ... of an ASS.
posted by Jo Fish on 08.30.05 at 05:19 PM





Comments:

Ha ha ha! I love the way you always put your foot in your mouth. Maybe you should read a newspaper once in a while.

Saudi Arabia said it is prepared to increase its oil production to make up for supply losses caused by Hurricane Katrina, the official news agency SPA reported.

'Saudi Arabia is ready to increase its production to compensate for any lowering in supplies of crude on the international oil market,' said Oil Minister Ali al-Nuaimi, quoted by SPA.

http://www.forbes.com/business/feeds/afx/2005/08/29/afx2195519.html

 posted by: bean on 08.30.05 at 05:35 PM [permalink]

Well, Bean, ol' buddy, I just got back from the pump and, indeed, prices have jumped significantly... regular was at $2.80/gal. Maybe your good ole buddies the Saudis will come to the rescue for production, but I have my doubts about gas prices going down more than a token bit. Boy, I sure am glad the Republicans are in charge or gasoline would be hitting record highs. Oh yeah, and if you're the party of national defense and fiscal responsibility you really SUCK at it!!! I'm sure your representatives are going to get an earfull during this recess.

posted by: Ray Robinson on 08.30.05 at 08:41 PM [permalink]

To the last post, sure the Saudis are going to raise production, at $3.00 a gallon. I don't think thats jawboning for lower prices. Man, you people really show your IQ. Listen to your so-called commander-in-chief and enlist for a tour of Iraq.

posted by: DougC on 08.30.05 at 08:50 PM [permalink]

The major oil companies in this country have daily profits of $1 billion or more, that breaks down to over $150,000 PROFIT PER SECOND they are in bussiness. Not to mention the $2 billion dollars given to the oil companies in the energy bill. Yet the gas prices are reaching record highs, and the oil companies are still getting those profits does anyone esle see something wrong with that?

 posted by: pat on 09.02.05 at 01:57 PM [permalink]


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All the original material © 2002-2003 Jo Fish
steal what you want, all I ask is an attribution of some sort
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