Oil crisis explained
GW Bush - - Posted on April, 30 at 1:08 pm by Ken L
After more than seven years in office, George W Bush is determined to prove to the world that rumours of his impenetrable stupidity are false.
After months of intensive coaching in economics by a team of academics from Yale, Harvard and MIT, the president was finally encouraged to go public and demonstrate his new expertise:
WASHINGTON (Reuters) - President George W. Bush said on Tuesday that U.S. gasoline prices are at record levels because global oil production is not keeping pace with demand.
“One of the main reasons for high gas prices is global oil production is not keeping up with growing demand,” Bush said at a news conference.
Journalists are reported to have gasped with amazement and broken into spontaneous applause.
There are rumours that a group of dedicated psychologists and sociologists are working with Mr Bush now. Desirable learning outcomes include ‘understand how people react to having their country invaded and occupied’.
Posted in GW Bush |
April 30th, 2008 at 5:48 pm
Do you think the recent huge profits announced by the big oil companies may be a contributing factor to high prices?
April 30th, 2008 at 6:36 pm
Bush said: “One of the main reasons for high gas prices is global oil production is not keeping up with growing demand,”
didn’t seem to be a problem before you came along laddy.
I’m so freakin’ tired of this BS that the Busheviks & some of their media enablers push. The reality is we have a bunch of turd burger SPECULATORS driving the price up on the back of FEAR-MONGERING & War propaganda…not to mention a bunch of scallywags in the Gulf States & elsewhere who play GAMES thru OPEC…& a conveniently timed problem w/ Nigerian freedom fighters & a less than honest and not as bona-fide Marxist Dictator as we thought in Venezuala.
And competing forces on the Corporate Left & Right who have heaps to gain from creating panic over oil supplies. Now it’s all about GAS…& screw the environmental impact. As long as we keep the wheels of PROSPERITY burning along eh?…to feed our needs & greed.
Still, i can’t complain, i’m part of the problem. I likes me house lit, me cds, me gas cooker, me wife using the car to get groceries. Even tho i compost, don’t eat meat, pay for so called “Green Energy”, use weird lite bulbs, save my washing up water for the plants & use renewable, biodegradable & animal testing-free products thruout the house…i’m still using too much water, electricity & fuel…’cause i want to LIVE…
not just be a potato sack robed monk who thinks “good thoughts” & waits for others to deliver him his gruel.
Ah yes, the inherent contradictions of living a somewhat “sustainable’” existence. I think my GREEN creditentials just went down the not so enviro protectors approved dunny.
MODERATION i keep thinking…COMPROMISE & MODERATION. Words my Grandpop loved to use…something few govts., corporate CEOs & “consuming on PLASTIC for the sake of CONSUMING” types know little about.
Getting back to the oil. Now, is is just me, or does anyone else think blaming China, India & so on for this oil price surge is a load of codswollop?
Certainly some of their public have become far more addicted to the goodies we take for granted…but COME ON!!!…the oil price jumps from $28 bucks a barrel (Crude or some sh*t like that) to over $110 in less than 7 years???
That’s akin to almost a 400% increase (based on my rubbery maths). Man, those ChinIndians must be doin’ alot of supermarket surfing & mall murdering these days to warrant that type of increase.
Tho I guess your less than spectacular INVASION of IRAQ hasn’t helped much George.
Even if i get the gist of your “defend resource & financial allies at all costs” PLAN…& “keep the Empire musclebound in the process to put off the WOLVES at the door” strategy…and “keep them developing nations Capitalist with oil of Christians” HEAVY door knocking approach (think of “Oil of Ulan/Olay” song from ad)…not to mention, “better the rednecks, gangs & other scary type younguns w/ their guns, drugs & violence play OVER THERE than on our streets” game.
Still, once you BOMB, BOMB, BOMB Iran to keep your MATES happy, we can always hope that the petrol price goes ever upwards…UP, UP, UP… & spirals into SPACE…so then WE might oneday realise that our accident prone machines can actually be driven by using WATER.
Oh but sh*t, there’s a scarcity of that too. Same as crops…& their leftovers.
Crikey, looks like its gonna be a MAD, MAD, MAD WORLD for a hell of a lot longer yet.
I hope you CHESS PLAYERS choke on your pureed meat & Russian caviar. Kinda like in a French “buffet of greed” movie.
OMMMMM
April 30th, 2008 at 6:57 pm
There is no objective evidence Bush actually ‘learnt’ anything.
There are a number of alternatives which could explain the phenomenon:
1. Parroting. Bush possibly mimicked the sounds of a reasoned person nearby. Making sounds that resemble words do *not* imply comprehension of their meaning.
2. Infinite monkey theorem. It is statistically possible that if enough words are spoken, that eventually not only will a sentence make sense, but also be factually correct.
3. Misspeaking. Bush is also well known for misspeaking. It is quite possible that he simple mispoke, and coincidently made more sense than the intended line.
So quite frankly, I believe there is a little bit of hyperbole going on with this article.
=my2c
April 30th, 2008 at 7:04 pm
BTW…i might be cynical regarding politics & politicians motivations this arvo…but i’d still be more likely to vote for Captain Hillary Clinton & Lieutenant Barack Obama on the STARSHIP ‘DEMOCRAT’ than Commander John (Trojan Horse) McCain & whatever religious wacko sidekick the Repuglicans provide him with for the WARSHIP ‘APOCALYPSE’.
SERENITY NOW…:)
April 30th, 2008 at 7:09 pm
Quick question… because I can’t be bothered doing the research…
Doesn’t the weakness of the US dollar have something to do with it?
April 30th, 2008 at 7:31 pm
sorry mars but the opposite is true. it is because of the weakness in the US dollar that we are only paying 1.50 a litre instead of 3.00!!!!
April 30th, 2008 at 7:32 pm
The following article thinks so Mars…i agree w/ some of the views incl. the SPECULATOR comments…but i don’t think it’s just the greasy lot at the FED to blame.
It’s another one of those “plenty of influential people & competing interests have alot to gain from THE DEBACLE” type thing…we can call it THE FOG OF RESOURCE WARS & WHY SNEAKY &/or TESTOSTERONE-DRIVEN SPECULATORS SHOULD NOT BE GIVEN MORE MONEY TO PLAY WITH BY WAY OF TAX CUTS:
There’s no oil shortage; that’s another ruse. Speculators are simply driving up the price of oil to hedge their bets on the falling dollar. What else can they do, put them in the frozen bond market, or the sinking stock market, or the collapsing housing market? The Fed has gummed up the entire financial system with its low-interest credit scam, now it’s on to commodities where the real pain is just beginning to be felt.
This is what happens when there’s too many dollars sloshing around the system; they all need a place to rest, and when they do, they create equity bubbles. Sound familiar? Indeed. This is Greenspan’s legacy in a nutshell; the dark specter of Maestro will continue to haunt the world until all the hyper-inflated asset-classes (real estate, bonds, stocks, commodities) return to earth and all the red ink is mopped up. That’ll take time, but Bernanke could make things a lot easier if he accepted some responsibility for the current turmoil and raised rates by 25 basis points. That would show speculators that the Fed was serious about defending the currency, which would send the commodities bubble crashing to earth. Prices would go down overnight.
and:
But Bernanke won’t raise rates because he doesn’t really give a hoot about the people in Cameroon who have to scavenge through garbage dumps for a few morsels to keep their families alive. Nor does he care about the average American working-stiff who goes into cardiac arrest every time he pulls up to the gas pump. What matters to Bernanke is making sure that his fat cat buddies in the banking establishment get a steady stream of low interest loot, so they can paper over their bad investments and ward off bankruptcy for another day or two. It’s a joke; it was the investment banks that created this mess with their putrid mortgage-backed securities and other debt exotica. Still, in Bernanke’s mind, they are the only ones who really count.
And don’t expect Bush to step in and save the day either. The “Decider” still believes in the unrestricted activity of the free market, especially when his crooked friends can make a buck on the deal.
((Mike Whitney
Online Journal
April 29, 2008)
More can be found at InfoWars . com if yer interested…tho some of the Left/Green/Jewish HATE stuff/comments are a real turnoff & worrying.
“Do you think the recent huge profits announced by the big oil companies may be a contributing factor to high prices?”
Not sure about that fred. Elaborate…i’m interested.
April 30th, 2008 at 7:34 pm
Blizzards,from the land of the Icke based lizards,probably leading to surgery bypass of gizzard.George,is trying to wather,[I meant wether,][as I meant soar,][but came out full bore as sore] it all out,by what ever spot in language he can find.
April 30th, 2008 at 7:43 pm
Nask, was it you that posted some time back that the NeoCons big adventure was costing about US$160.00 a litre ,maybe a US gallon,for gasoline/diesel, whatever in Iraq as to the end cost of usage, read it somewhere, thought it was you, and if wrong, well thats old age.,also that fuel usage was of no concern at all. Well, when your guided by the allmighty and George, wtf,and urgers ,plus the desire to avenge against the “He tried to kill my Daddy”,and now it’s of course not the fault of my big adventure, it’s all you bastards leeching of my big adventure that’s the cause of your whingeing.If bloody China and India would just revert to the nineteenth century(as a Democracy), that would keep you oil grabbing bastards who are causing me to explain in plain ENGLISH, and them English aren’t helping,why you lot are pissed off.Sell ya bloody house if ya can’t fill the Hummer, Oh, well yeah, but ya can sleep in ya Hummer,so stop picking on me any my Administration(sic).
Nask, ‘don’t eat meat’
‘weird lite bulbs’(Ahem,garlic lite?)
If you keep that up, how will I afford to buy diesel? This healthy life style of yours is a worry, a home killed ‘TBone’ and a home brew (tonight)with garlic,off course,sigh:).
April 30th, 2008 at 8:39 pm
“was it you that posted some time back that the NeoCons big adventure was costing about US$160.00 a litre”
Not me LM…maybe Mars. Now that’s one costly adventure…& Georgy still hasn’t come down from the mountain. The Neo-Cons will be referring to him as Moses on the day of his retirement. All schools will be forced to put up plaques w/ the “New Ten Commandments” inscribed in Bushspeak:
1) Thou shalt not stay at home & pick your nose peacefully when thou can kick Islamo-arse in The Levant & surrounds.
2) Thou shalt not give the finger to “oil men”, no matter how unpronouncable their name.
3) Thou shalt not stop trying to manipulate the tools of government & break the back of public services & pensions
4) Thou shalt not covet their Republican President’s buddies’ goodies
5) Do not recognise the achievements of any Presidents before & after me unless i tell you to…even if i’m dead
6) Thou shalt feed the chimps at the zoo as often as possible in remembrance of my great deeds
7) Remember “the mission accomplished” & keep “bringing it on”
9) Thou shalt not murder outside of “the Axis of Evil” unless I tell you to…even if i’m dead
10) Thou shalt not tell a joke unless it comes with an accompanying smirk & grovelling media pack
Amen
“If you keep that up, how will I afford to buy diesel? This healthy life style of yours is a worry”
no problemo LM, my Father-in-Law says the same things and he can still afford to “light his fires”…we get on very well…:)
He’s “every which way, including loose”…i’m the same but not as “loosish”. Tho i used to be…;)
April 30th, 2008 at 9:04 pm
Re: the oil co’s record profits.
http://money.cnn.com/2007/02/01/news/companies/exxon/index.htm
Headline:
“Exxon posts biggest annual profit ever
Record oil prices help the world’s largest
Ditto:
http://news.xinhuanet.com/english/2008-04/30/content_8079566.htm
” BEIJING, April 30 (Xinhua) — Royal Dutch Shell Plc and BP Plc, Europe’s two largest oil companies, have reported a record profit after crude surged above 100 U.S. dollars a barrel and natural gas prices rose”
Pure coincidence and no relationship whatsoever to high prices.
Of course.
Obviously.
April 30th, 2008 at 9:24 pm
“Light his(your)fires”
“Every which way, but loose”
Hah!
Playing Lucille Bogan,now there’s a lady who says it,and Malvina Reynolds ‘Little Boxes”,all songs for today?..
April 30th, 2008 at 9:58 pm
http://news.xinhuanet.com/english/2008-04/30/content_8079566.htm
” BEIJING, April 30 (Xinhua) — Royal Dutch Shell Plc and BP Plc, Europe’s two largest oil companies, have reported a record profit after crude surged above 100 U.S. dollars a barrel and natural gas prices rose”
Google ‘exxon record profit’ for a whole slew of news i BEIJING, April 30 (Xinhua) — Royal Dutch Shell Plc and BP Plc, Europe’s two largest oil companies, have reported a record profit after crude surged above 100 U.S. dollars a barrel and natural gas prices rosetems over the past few years detailing the largest profits EVER made.
April 30th, 2008 at 10:46 pm
SPECULATION.
Oh how I detest that word!
Ever hear those tales of resourceful, independent, American entrepreneurs who actually built and sold stuff to make their fortune? What happened to them? Too much like hard work, I suppose… Much easier to just play the system.
April 30th, 2008 at 11:25 pm
KenL - that final sentence is a thought too far for Shrub. Takes away his sole raison d’etre.
May 1st, 2008 at 12:36 am
Mars said: “Ever hear those tales of resourceful, independent, American entrepreneurs who actually built and sold stuff to make their fortune?”
From what i heard a titanic machine called “free trade” scooped them all up & buried them under a bunch of McMansions which eventually got levelled once some scheming property developers paid off a State Senator to use Eminent Domain laws to build a highway to nowhere. They reckon if you look closely enuff you can see tiny shoots erupting from the toxic soil…some of the less ‘dumbed down’ tourists & onlookers refer to them as “Hope springs eternal”…others, most wearing celebrity shades over their eyes wide shut, just drool & let the media define the phenomena for them:
“HOPE PLANTS PROVE TO BE POISONOUS PRANK”
They say if you listen closely enuff you can hear the cries of the Founding Fathers & Mothers mingling w/ the shifting of tectonic plates. It’s quite possible tho that people are imagining more than is possible…& the sounds are in fact the moans & gasps of speculators pissing in the wind.
“Playing Lucille Bogan,now there’s a lady who says it,and Malvina Reynolds ‘Little Boxes”,all songs for today?..”
how romantic…”Shave ‘Em Dry”…;)
I luv this track…good show too…but a bit naughty:
http://www.youtube.com/watch?v=AvGd8vwWLpE
(Little Boxes: Malvina Reynolds)
May 1st, 2008 at 1:08 pm
In this case it would have been better for him to keep his mouth closed and let everybody think he is an idiot instead of opening it and confirming he actually is one.
May 6th, 2008 at 6:11 pm
Too late, David.
Waaaaay too late.