Reply #3: Bush Co is the reason ... [View All]

[primative1]

If you think that there is no reason then you werent paying attention.
Oil price was in a freefall since New Years and every effort by OPEC to "talk up" the price failed miserably.
About 3 weeks ago oil traded at 49.90$ a barrel and then ... heroicly ... our wrethched federal government announced to the delight of the Saudis and Exxon that they would be purchasing over ONE BILLION barrels of oil on the open market for the supposed "strategic reserve", effectivly tripling its size.
In any supply and demand equation, it doesnt take a rocket scientist to figure what the purchase of ONE BILLION barrels will do to pricing.
Get ready to pay up big time AGAIN.
And dont forget to thank BushCo for more trechorous anti american activity.