That is not the reason for the decline of oil prices this week. A more likely cause was the socialization of Fannie and Freddie.
And where is the drop of prices at the pump. Oil is down 12% from its peak. At $4 per gallon a 12% drop should mean I am paying $3.56 at the pump. I don’t see anything like that. Prices rise the same day oil spikes up but not the other way.
Big oil wins again.
According to gasbuddy.com there is one gas station in Asheboro with 3.59 gas (cash only). That is the cheapest price by 10 cents per gallon in the entire state. The average price in the state is 3.97. That is more than it was a month ago, and slightly less than last week. But not close to a 12% reduction.
Bush should have done opened up drilling years and years ago when he had a Republican Congress, but I am sure big oil wanted to keep raking in profits.
Big oil wins again.
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Max says
It’s those speculators speculating again!
immyid says
That is not the reason for the decline of oil prices this week. A more likely cause was the socialization of Fannie and Freddie.
And where is the drop of prices at the pump. Oil is down 12% from its peak. At $4 per gallon a 12% drop should mean I am paying $3.56 at the pump. I don’t see anything like that. Prices rise the same day oil spikes up but not the other way.
Big oil wins again.
Bubba says
“I don’t see anything like that.”
You weren’t in Asheboro Friday, were you?
drfranklives says
answer to the question posed in the post:
“Yes”
immyid says
According to gasbuddy.com there is one gas station in Asheboro with 3.59 gas (cash only). That is the cheapest price by 10 cents per gallon in the entire state. The average price in the state is 3.97. That is more than it was a month ago, and slightly less than last week. But not close to a 12% reduction.
Bush should have done opened up drilling years and years ago when he had a Republican Congress, but I am sure big oil wanted to keep raking in profits.
Big oil wins again.