speculators

Chris Davis describes the scene from the “victory” party of defeated congressional candidate Nikki Tinker:

Our Republican leadership gets it.  Energy is THE issue of the day.  Gas prices are killing us.  I’m glad to see the President and our GOP reps pressing the issue as hard as they can.  They need to keep it up, keep hammering. From the Hill:

John Stossel has written an excellent column that ends with the statement “It would be nice if McCain would finally learn some economics.”
Stossel points out several statements John McCain has made against oil companies who, gasp, make profits, and also speculators, the new “bad guy” on the block.
John McCain served his country in Vietnam, and [...]

I figure half the price of oil is due to the Iraq War and another half is due to speculators. I know that sounds funny but look at it like this...

Oil was on a downward trend for the year 2000, going from almost $40 a barrel to $20. Then Republicans took over. By May of this year it was around $120 (and all this is adjusted for inflation) and we have seen it go higher still after that. For

A comment from yesterday's post pointed out a column by one Phil Valentine in The Tennessean and Phil says there is only one reason oil prices and oil drilling are a problem today: Democrats.

Phil Valentine echoed his fellow members of the VRWC yesterday in his Tennessean column in which he blamed those damned environmental whackos for the high price of oil.