Saturday, July 26, 2008

Oil down another $5 a barrel

Oil continued to drop this week. Light, sweet crude for September delivery fell $2.23 today to $123.26 a barrel. Retail prices have dropped about ten cents per gallon in the past week. Of course I'm sure the President will get no credit for this.
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4 comments:

  1. UnknownSunday, July 27, 2008 1:11:00 AM

    As a point of interest, you might do well to link to some genuine analysis that actually links this to the President's actions. As well as commentary which refutes any other reasons this might have happened.

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  2. Daniel NicholsSunday, July 27, 2008 1:50:00 AM

    Come on Big Blue you know the media is never going to admit Bush is responsible for anything good.

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  3. UnknownSunday, July 27, 2008 6:19:00 AM

    Well, first, the media isn't liberal. It's just the media. I'd describe it as corporatist, which means they're more concerned with selling papers and gaining ratings and pleasing the bosses, than anything else.

    Moreover, conservative economics is THE primary field of economics in the United States, so it really should be a cake walk to find an economist that believes Bush's recent actions are directly related to the drop in oil prices.

    So, go out there and find it. Liberal economics is a minority in this country. There's no reason you shouldn't be able to find support for your theory.

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  4. UnknownSunday, July 27, 2008 6:27:00 AM

    And just so you can get up to speed, this is where conservative economics comes from:

    Milton Friedman

    Chicago of Economics

    And this is where liberal economics comes from:

    John Maynard Keynes

    These are things you need to know to argue about economics.

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