Oct 9, 2008 1:30pm
With Gas Prices Dropping, OPEC is Scrambling
EmailGas prices are dipping…the one silver lining to an otherwise dismal economic picture. And, you guessed it, because the price of oil is falling back into the stratosphere OPEC is considering an emergency meeting to find a way to stop the slide. It was just back in July that oil was crushing Americans…trading for $147 a barrel with the price at the pump hovering around $4. Today, oil is trading at $87 and gas is dipping down to $3 a gallon.
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Stop the slide? Slide all the way to a $1.25 a gallon!
Posted by: PETE | October 9, 2008, 1:46 pm 1:46 pm
If we were energy independent, we wouldn’t even need this story. Drill, coal, nuclear, CNG, wind, solar etc. do all of the above, do it NOW.
Posted by: samhiguchi | October 9, 2008, 1:47 pm 1:47 pm
Maybe our economy tanking is not such a good thing you little moron in Iran! 30% inflation rate over there, think they might get rid of little bristle face if they got the chance?
Posted by: robert | October 9, 2008, 2:05 pm 2:05 pm
If oil is down by almost half, shouldn’t the price of gas be about $2.25 a gallon and not $3.09, which I paid this morning..
Posted by: Miki | October 9, 2008, 2:06 pm 2:06 pm
Of course they want to throttle output to artificially inflate the price. They are just greedy. Already made enough money from the world to have personal dynasties for centuries to come. Now they are out for more ? Too self-centered. Somewhat like the treasury secretary for California calling Bill Gates for a Loan to help the State. A true American with more than they or their family could ever spend would do it. Hope Bill sees the Intellegiance in doing it.
Posted by: Mark H. | October 9, 2008, 2:07 pm 2:07 pm
All the alternatives in the world will not happen anytime soon. As soon as they try to start, the tree-huggers will file so many lawsuits to stop it that it will be tied up in court forever.
Posted by: MO Madness | October 9, 2008, 2:07 pm 2:07 pm
Of coarse they don’t to see gas go down
the american people might get a break.
Thats the way these crooks work in this
country !!!!!!!!!!!!!!
Posted by: Joey | October 9, 2008, 2:07 pm 2:07 pm
Miki, I heard an analyst on tv explain it as the stations to the oil companies have to make up for all the money they lost while oil was so high…yeah I know, I didn’t fall for it either. Sounds like goughing to me.
Posted by: samhiguchi | October 9, 2008, 2:12 pm 2:12 pm
in this economy it would be prudent for the government to set gasoline and heating fuel prices . set the price and leave it for 30 or 45 days with no change. if the import price goes up ,use reserves to offset that . if the price goes down during the period then put the extra money generated in a fund for emergency use only.
that one measure would lead to a more consistent economy with more perceived stability.
the inflated price of fuel is driving down the economy and the oil companies will only lower the prices when they are forced to. taxpayers pay billions (in tax loopholes = free ride for gas companies) in lost taxes while the rich elite oil executives make out like bandits.
i hope obama and the democrats do something like that,and i guarantee that once he is in office ( with a democratic majority to pass effective legislation) gas and fuel prices WILL go down ,one way or the other…
Posted by: bah | October 9, 2008, 2:23 pm 2:23 pm
Sorry, folks. Oil-based industries have been profitable for more than 31 consecutive years. There is no “lost monies” _anywhere_ in the supply chain.
The truth is that lobbyists and special interests are working to gouge the consumer. These barons don’t care if you are white, black, young, old, urban, rural – you are just around to feed the machine.
THESE are the issues that YOUR government should be addressing in OPEN forum. I’d love to hear Obama/McCain debate that. Who could justify this farce?!
Posted by: Jay G | October 10, 2008, 7:34 am 7:34 am
I am sure as most of you that we are sick of hearing about OPEC. I agree drill, CNG, whatever it takes to get rid of this monkey on our backs. As for Sarah Palin, they can critisize her all they want but she would be determined to help America become Energy Independent and I believe push it through as noone else will. She came to us for a reason so show a little faith and vote for her.
Posted by: CAroline Faunce | October 10, 2008, 4:04 pm 4:04 pm
She came to us for a reason……
Yeah, a list of jokes with no end in sight for Saturday Night Live!
I’ve got rocks in my aquarium that are smarter than Sarah Palin!!
Posted by: Hansi | October 10, 2008, 6:33 pm 6:33 pm