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i'm guess i'm ignorant, but i really want to know all of the specific factors that have raised oil prices.

if it's simply increased worldwide demand and/or diminishing supply, i'm not sure what short term political solution there is.

allowing offshore drilling and improving the refining infrastructure will cost a ton and even then would take a while to have an effect, i would guess.

and i don't think this is simply a matter of greedy oil companies/politicians who have orchestrated the whole mess where there is a political, tax or regulation-based solution to solve the problem.

There are a variety of factors at play, but one thing I've heard over and over again is that China's modernization and industrialization (along with that of India) has massively ramped up the demand for oil. By limiting production when the demand is high, OPEC can increase prices.

It was also said that any oil obtained from US off-shore drilling would likely be sent to China. I'm not exactly sure why that would be true.

"flesh4fantasy

RE: 700 Level Presidential General Election

Reply

8/4/2008 4:06 PM





i'm guess i'm ignorant"




Wow. Phew. Finally an admission. Let's lock up and go home, boys, this bar's closed.


Afterparty on my new deck.

maybe i'm naive, but have to believe if this whole thing is due to OPEC price gouging, it would be the one thing the bush administration could and would correct, or at least help alleviate.

i should probably stop qualifying my posts at some point.

"this may be the down syndrome talking, but..."

OPEC doesn't "set" prices. There are speculators on the oil exchanges that do that. Most of them are American or Brittish. The only thing OPEC can do is lower output and drive up prices but allowing demand to outstrip supply.

make sense, jules, but since oil is the backbone of the global economy, one would think that there would be measures in place so that oil prices aren't totally at the whim of speculators like some less critical commodities might be.

The problem F4F is that when there is any instability ANYWHERE there is oil, speculators drive prices up. The biggest example was the bullshit bump in prices for hurricane season in the Gulf of Mexico. The output from the Gulf of Mexico is a modest 250-500k barrels per day. We use 20 MILLION/day. That means it was a slow down (not a complete stoppage in production/output) of 1-2% of our need that resulted in a $10 bump in prices WORLD wide. Are you freaking kidding me?

The problem is that the "control" of the speculators will be seen (rightfully so) as "regulation" of the market. In this case, it is for good reason. If collusion or conflict of interest can be established between speculators and oil companies (probably very simple), it'd be clear they are violating anti-trust laws and Obama won't need to tax their windfall profits. The problem is that he, McCain and EVERYONE in office gets paid off by those folks somehow.

The moderators for the debates have been announced. Looks like Barry won't face any hard questions.

Gwen Ifel? This is a disgrace. Why can't they ever pick one right leaning journalist to co-host a debate?

LOL at Charlie Gibson getting the big freeze out. ABC totally got the shaft. I bet it was because Barry said he wouldn't appear if anyone from that network was on with him.

My guess is you would have cried no matter who was selected.

lol

Birch Barlow should moderate so he could ask McCain about Senator Les Weinan's comments

Paris Hilton's campaign ad.
Yo, click it

I like Charles Gibson, and think he is as fair as anyone in today's media. What happened with Obama and ABC? Must have missed that one.

As far as the moderators, it really doesn't matter too much. Obama won't answer any direct questions anyway. He will twist it, like a good lawyer, and spit out something that has nothing to do with the original question. McCain will simply forget the question and just give Obama the stink eye, in a long uncomfortable silence.

Can't wait!

Moderator Ifill on the campaign trail with Obama. I'm sure she'll be impartial!
click here

IMPARTIAL QUESTION READER EVERYBODY PANIC!!!!!11111

Anything "orchestrated" like a debate will be a waste of time anyways.

It will come down to which newspaper/news show you watch in the final weeks to determine who to vote for..

Dems want Edwards to address the affair/love child.
linc

I realize he was "in the mix" before, but unless the guy has asperations of public office, this matter is completely private. The only reason I bring up the public office bit is because of how he makes certain things issues and invites fire from differing sides.

Regardless, this guy's family deserves privacy and decency. If he diddled, and it seems more and more likely, he's got some serious problems ahead of him and things to account for in his life, but none of them effect the public. He has to find some peace with his wife and formally apologize for using his staff member (who he originally had take the fall). The public, though, is owed nothing on this.

But if he thinks he's going to run again or remain in the political arena, the reality is - fair or unfair - he must address it publicly once and for all.

If it sounds unfair, remember that the NY Times ran a far less substantiated cheating allegation with McCain months ago. He called reporters in and stayed until everyone's questions were answered and the issue was put to rest. Fair or unfair, politicians in the political arena have to confront things like this if they want to stay in the mix.

Me? I say leave the guy alone, leave his wife and family alone, and just focus on the candidates that are running for office.

Me? I say leave the guy alone, leave his wife and family alone, and just focus on the candidates that are running for office.

Exactly. Let's stay focused on McCain, Obama, and Brett Farve.

Man held for Obama assassination threat

and so it begins...
click here

AP: Father Time Planning Assassination Attempt on McCain

Over-inflated balloon held in conspiracy.

Edwards Admits Sexual Affair.
click here

This guy is scum.

And does anyone actually believe that he's not the father of the child, as well?

Pathetic.

Admit the whole fucking story, you lying sack of shit. If you're so confident you're not the daddy, take a paternity test. Let's sick Maury on your lily white ass and see how this show ends.

The people who gave him money should be surrounding his house with pitchforks and torches after he paid his ho $100,000 to make 4 YouTube clips with iMovie.

Bullshit.

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