Once again we are lied to by the old cliché there is no silver bullet for oil prices. No, it isn't a silver bullet it is a steel bullet that looks a lot like a pipe. Unlike the crack pipes the commie libs dream from, this one is punched into the ground and fills with oil to feed America the lifeblood of capitalism. It is no more complicated than supply and demand forcing the prices down and in a futures market the betting on future supplies rather than shortages. Perhaps if Present Rambobama had even run a Kool Aid stand and found out what happens when the kid across the street opens one too and watched his price lowering to match the new oversupply he would have a basic understanding of markets.
They throw the perpetual myth of increasing supply won't affect prices in the short term and then just the opposite happens. Just like when President Bush removed the moratoriums on drilling and oil dropped $10 per bbl, the House announces a vote on an oil bill to force processing of applications and oil drops $8. Nothing else happened worldwide to affect oil other than the market's expectation the bill would pass and had a good chance of becoming law. The Obamedia dutifully claimed the drop was due to lowered US economic recovery and China only growing by 10% rather than 11%. Both of these factors were already known by the market which means the only variable the market didn't expect was a serious attempt at oil drilling by the US House.
Since then the market has been going back up expecting either the Senate or President Hussain to stop this bill to keep his moratorium in place. If either of the two reasons were true the price of oil would continue down but it has turned back up in expectations of the continued mismanagement of our oil resources. This proves that there is indeed a silver bullet that has been used numerous times in recent history in either positive or negative ways. The fact oil prices have been increasing since the BP spill and the drilling ban is proof enough prices move very quickly after there is a disruption in supply since much of those wells wouldn't even be pumping oil for 2-5 years but the market reads it as a future crisis driving prices up and just the opposite when the House passes a bill lifting the ban on processing permits.
The other myth the commie libs like to use is the complaint we use 25% of the world's oil yet only have 2% of the reserves. This has been proven false so many times it isn't worth mentioning but they use it so many times it becomes a belief. This number is 20 years old when they were claiming we would be out of oil by the year 2020. Now with the oil finds we have found in shale and Alaska there are reserves enough to last another 30-50 years. The 2% represents none of this shale or Alaskan oil or potential finds since the Dems have passed laws saying you can't even explore for oil offshore. This means we can't even hunt for oil finds like have been found by Countries around the world to verify just how much oil is available. For all we know we have 25% of the oil but the environazis won't allow us to find out.
The other factor driving oil is the Great Barak Depression that doesn't seem to go away. Very likely unemployment and misery will remain high until he is unemployed again. How does a person who has never even taken a single economics course or business class become the head of the biggest economy in histoir? This guy has a PHD in hating America and Capitalism with a minor in racism and he claims to know anything about a worldwide commodity market? Right now with his disaster of the US economy the world is using oil and gold as shelters to inflation driving the prices up. Just like when you see oil raise $10 you head to the gas station before the end of the day expecting the prices to be higher overnight. There are so many factors pushing oil you would have to be stupid not to be putting as much as you can into this rising commodity. Oil producers around the world are buying extra expecting prices to rise just like you do when you fill on your way home rather than tomorrow.
We have an ideological buffoon standing in the way of our energy production. He can't see past his hatred for America or the way of life capitalism has made for this Country. He may be the most brainwashed dupe on the planet so he lives his life as a walking talking liberal cliché looking to punish those evil oil companies while the poor and middle class become collateral damage by his high energy prices. In his mind the ends justify the means to hurt Big Oil while rewarding his green boondoggles. So we sit here watching the economy continue to melt down as he strangles it with all his power. Then he claims there is no Silver Bullet, especially when you don't bother to put one in the chamber. Rather than even trying to find a Silver Bullet we get more of his Silver Bull.
Pray for America