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Author Topic: Bush actually like the high Crude price.
ththf
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I don't think he really worry about the high crude (gas)price

Let's see if the crude will pick up again after his speech. His oil buddies in Texas brought oil down before his speech to make him look good. But, be careful, they will come back soon and pump it higher.

[ June 30, 2005, 12:12: Message edited by: ththf ]

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ththf
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Now the August Crude price at 57.6.

Let's check in next 4 weeks.

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Purl Gurl
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Consumer confidence is up for June. Appears our
American public has accepted these new high
levels. However, the full effect of higher oil
prices has yet to fully trickle down through
the consumer supply chain.

It will take quite a bit of time for this
devastating effect of high fuel prices to
hard hit low income and poverty level status
families. Later, this will show up as high
increases in welfare costs for states, along
with increasing numbers of welfare applications.

For airlines, higher oil prices have shown
up instantly with a ten dollar per one-way
ticket increase in price.

I am pressuring Hillary Clinton to move towards
using some of our closed military bases to build
new oil refineries, one on the west coast, one
in the mid-west, and one on the east coast.

On Bush, don't get me started. Bush is too stupid
to take notice of his own growing Pinocchio nose.

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bdgee
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Let's not over estimate Bush's ties to oil. He tried more than once to run oil companies and all the oil companies he ran went bankrupt.
His only "success", if you can call it "his" success, was in being the head of the Texas Rangers, which was made profitable by seducing the City Of Arlington into raising a special tax to buy The Ball park in Arlington and "give" it to the Rangers (want an idea why J. Jones is moving the Cowboys to Arlington?). Good old hyper-conservative low tax republicans sucking that government tit! Didn't bother them at all to raise taxes if they went directly into their pocket.

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Purl Gurl
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There are some complex issues involved.

An obvious issue is loss of tax revenue for both
states and the feds. This won't show, or won't be
brought to public attention for a long time.

Consumers, although confidence is up recently,
are driving less. Here in California, for every
gallon of gas not sold, our state loses eighteen
cents in tax, and the feds lose eighteen cents
in tax revenue. Similar is true for all states
but with varying amounts of actual gas tax.

As oil prices trickle down through the consumer
supply chain, less products will be bought, or
less expensive products will be bought, further
decreasing state and federal tax revenues.

Bush has and is creating a historical record for
national debt, is spending our fed money without
restraint. While he is bankrupting America, our
tax base is decreasing in value. Bush's unbridled
spending, coupled with a loss of tax revenue, is
double ending our America deficit. We are headed
for significant financial trouble.

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Krysten911
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It is obvious to me and hopefully anyone with any common sense, that George W. Bush does not understand the value of the dollar. He came from money. Through out his years, he was continually given the funds by a member of the Bush family, primarily dad but in some cases grandpa. He has never had to start anything from scratch and learn the in's and out's of profit/ loss. I would go so far to say that he probably does not even know what a stock option is. He has treated the presidency of the United States of America as another business adventure not venture and has once again acquired another notch under the "failed" category. Disgusting!

Interesting article on the net concerning Bush's business dealings:

George W. Bush drilled a lot of dry holes while in the oil and gas industry. But his business failings (it can be a rough business after all) are not what most detractors latch onto in condemning his record - it's perceived conflicts of interest, alledged insider trading, and undue political influence.

"Reporters have been particularly intrigued by George W.'s adventure in the oil industry, and well they might be. There was something about it that smacked of a shell game run by a very fast hand."
Robert Sherrill writing for The Texas Observer

"Bush was still at Harken [Energy, company that acquired a failing Spectrum 7 where Bush was CEO] when his father won the 1988 presidential election, and in January of 1990, the company acquired exclusive offshore drilling rights from the government of Bahrain. Harken acquired those rights even though, according to the Wall Street Journal, the company had 'never drilled a single well overseas or in water,' and had to seek out additional investors."
Michael King writing for The Texas Observer
Perhaps it was a coincidence or perhaps he was simply using the contacts at his disposal to get into a position to be considered for the contract. Whether or not he actually did anything wrong, it sure doesn't make him look good.

In 1992 U.S. News and World Report reported on some questionable dealings including possible insider trading involving Harken Energy stock. Although the evidence was serious enough to warrant an SEC investigation they ultimately decided not to punish Bush. Yet there are lingering doubts about Bush's activities and even about his Dad's political influence having a hand in the outcome.

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bdgee
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They decided not to "push" when some mysterous anonymous benefactor bought the defunt shell of a company dubya had left to investors (and according to some tales, a strong arm committe protecting the family showed up.....not the first and only time that committe has been heard from).
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ththf
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Thank Krysten911 for your input.

Yeah. It's so obviously.

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ththf
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crude drived up and oil stocks. now 57.5
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Dustoff 1
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hug a barrel of crude today, crude needs luv to.
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ththf
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crude up nealy $3 in 2 days.
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glassman
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anybody buying a humvee this week? [Big Grin]

--------------------
Don't envy the happiness of those who live in a fool's paradise.

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charger
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The price of oil is up and the market is up... How can we spin this to make Bush look bad??? Any suggestions out there?
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ththf
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The puzzle here is:

Bush use the goverment budget to buy strategy crude reserve. This make the deficit larger and drive up the inflation pressure.

On the other side, FED have to increase the rate to pressure inflation down.

The real puzzle is between Greenspan and Mr. Bush.

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glassman
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if you think Bush is a far-sighted altruist?

then he has triggered the sharp rise in oil prices intentionally thru his supposedly non-existent energy policies and war in order to force the US economy to address the coming short-fall of oil before it actually runs out....

anybody remember waayyyyy back before 1990? back when only us swamp-rats, desert deulers or hillbilly's drove 4x4 pickups.... i had two [Big Grin]

what the hell was an SUV? nobody had a friggin' SUV, it was either a bronco or a suburban....
by 2000? every other vehicle was a truck or SUV...

KNOW WHY?

marketing....
fuel economy laws were passed on passenger vehicles, but not SUV's and pick'emups....
safety regs were stricter on non-trucks too...
they are (or have been) much more profitable for the manufacturer...
how many people have an SUV that NEVER even need 4wheel drive?

what happened to the family station wagon?

if you think Bush is just a greedy creep? LOL then it's all about profit for the oil companys

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Don't envy the happiness of those who live in a fool's paradise.

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T e x
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were'nt they just protecting me as a pick-up driver, doing sub-contract work?

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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keithsan
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the question is will the market continue to rise when crude breaks 60 today? also supplies should be lower this weak with the gulf storm and the driving holiday just past.

yesterday djia and q's ran on a good manufacturing report that i read as questionable. I tried to add to my shorts yesterday but the greek isdn broke down on me. I will be adding short on any type of jump on the q's or any type of tankage [Smile]

also up days last 2 on very weak volume.....

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stashu
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Funny, I didn't catch the "Hot Stock" in this thread.

Just some snivelling Bush-bashing.

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ththf
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crude 60.65 up nearly another 60 cents.

record unleaded gas and heating oil also.

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zoltan
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Hey call me horrible but i LOVE halliburton,Encanna up north,Suncore and my buddy WEL=Boots and Coots.. If you can't beat the oil companies ..join em.

--------------------
Dead Kennedys-"Give me convenience or give me death"

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charger
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Terrorist attack in London ... Oil up to 60.70 and the market still finishes up for the day.. Bad day for liberals
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bdgee
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What a stupid assinine statement!
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Krysten911
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Only a bad day for the liberals if they choose to ignore what is on the table or choose not to participate in the American economy out of sheer ignorance ( and I am a liberal, but not one who shouts for the sake of hearing my own voice)...unfortunately with either side- liberals or ultra cons, each person in any given situation finds themselves entangled into an altruistic web engaged in the ultimate efforts of being right, but more often than not, completely forgetting what they wanted to be right about in the first place. Beaurocracy (sp.) at its best.
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^ nice post, krysten911
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glassman
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i'm curious charger, since you say it's a bad day for liberals? does that mean you think it's a good day for conservatives?

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Don't envy the happiness of those who live in a fool's paradise.

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charger
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No Glassman not at all, conservatives on this board arent saying the economy is extremely weak and it wont take much for the market to come tumbling down ... The only good thing about today is perhaps more countries will take the terrorist threat more seriously and help in the fight.
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charger
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Bush does like the price of high crude price... they just said on CNBC that this is best July for the market in about 10 years. People on this board shouldn't bash the econmy and market(so often) since there are many new people looking for stock tips to buy, not god-awful scenarios of gloom and doom.
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glassman
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Charger, there are always bulls and bears...

this is an unusaul July, no doubt,
but i'm sure it's only going up because

[Big Grin] i decided to take break for awhile [Razz]

as far as telling people to hold their opinions to themselves? i invite you to follow your own advice... LOL.. JK

being realistic? the president has little control over the economy in general... yes he can stop buying oil for the strategic reserve, but i think that would be dumb, and even dumber to release oil from the reserves....

i think we've all gotten a lesson in the last three years that oil is no longer as easy to control as it once was...

Putin and last years storms were both unforcastable (in a yearly time frame) weren't they

i agree that Bush should continue to add oil to the strategic reserve until our capacity is maxxed out, and then maybe add some more capacity, no matter what the price....

but not everybody agrees with that policy....

big deal....

in my opinion? the good market this summer? is because there is a lot of cash that people have no choice but to put in the market...

the reaction to the london bombing last week was MAGNIFICENT...
we were shaken up for a couple hours, but the reality is that people are now becoming tougher in the face of uncertainty and especiallty when it comes to terrorism...

we still have to face SOME TYPE OF drop in retail spending if gasoline and heating oil stay high...there is no escaping that...

MSNBC also said today that the median price of housing is now outpacing the medain income...

there is a squeeze coming in from all sides...

but we overcome these things don't we?

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Don't envy the happiness of those who live in a fool's paradise.

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bdgee
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Isn't it interesting how the "the party is always right" republicans lump anyone that isn't goose stepping in party designated unison down the street to display their devotion to "the party", first and formost and absolutely, as some kind of subversive and liberal. They did that in Germany oncedidn't they? Yes, indeed they did! I'm sorry to be so narrow minded and argumentative, but no party comes before my country and your suggesting it should is, by definition, unpatriotic and subversive!
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