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Northrop Grumman Corporation Message Board

  • McMEM McMEM Mar 15, 2012 3:20 AM Flag

    Price of oil may destroy economy

    The current oil price spike is affecting the economy recovery, as reported by CVX. The Republican POTUS candidates are trying hard to deceive the public that the problem is caused by BO.

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    • Ok, it could be caused by greed, but speculation in the markets can cause one to get burned... especially when most reports state that the current surplus of oil is why the Saudis don't increase their production.

      No, the speculation is driven by fear of war in the Mid-east, in particular with Iran and the Syrian civil unrest. Therein lies the problem with Barrack... first he says he will support Israel then he says they should wait... first he says Assad should quit killing his countrymen, then he says we shouldn't get involved.

      Now consider the Republican options running for President... most of them would quit the speculation and start a war, except maybe for Ron Paul, who can't get elected. Trouble is a war between the US and Iran or Syria (or both) will not solve the unrest between the different Shiite and Sunni Islamic factions... so maybe we should really leave them all alone and quit buying their oil.

      Even China is getting impatient with Venezuela's Chavez and his on then off again oil promises and production. Maybe there is a solution here where the US and China join forces and take over Venezuela's oilfields?

      • 3 Replies to one_aardvark
      • The rise in the price of oil is not Obama's or any POTUS's fault according to Bill O'Reilly and other Cluster Faux News commentators.
        It wasn't Bush's fault when it went to somewhere in the neighborhood of $4.75 a gallon back in 2008 with not a peep out of republicans.
        It's a free market commodity where price is driven by supply and demand.
        Supply is ample, demand is down, ergo it's got to be Repugnantcan saber rattling and speculators fault.
        Declaring war on Venezuela with China's help is not the answer, they won't allow an intervention by anyone on the Syrian peoples' behalf.
        Market forces, a conservative notion and BS idea, will either lower the price or it won't lower it.
        Drilling when there's no demand is not the answer and why would anyone think BP, Exxon etc would lower the prices by even a sou if they were up to their collective chins in oil?

      • Have you seen a price war between different oil companies lately? The oil consumption in USA has dropped significantly during the BO era, yet did the profit of refineries drop?

        The secretary of energy, Dr. Chu, stated that he made a mistake to allow the oil companies to increase their export of refined petro products to China because he wanted to keep the price high.

      • try again.. Shi i t e and Sunni

    • There certainly was no problem for the liberal press to tell how GWB caused oil to rise when he was in office.

      • 1 Reply to tiglet2l
      • I don't recall Gingrich touting $2.50 a gallon gas in those days.
        I don't remember Romney and compny saying GWB, an oil man, doesn't have an energy policy in those days.
        I don't remember Santorum rallying for a "dig baby dig" policy in those days.
        There's no such thing as a "liberal" MSM, it is corporate owned and operated, another conservative BS story and lie.
        I did see a rerun of Bill O'Reilly saying "No POTUS can influence the price of fuel".
        I remember some repugnantcans ranting "Dig Baby Dig" in between proving they are flat earthers, birthers and Islamophiles, just like you, dip stick.

    • Cluster Faux News commentator Bill O'Reilly absolved all POTUS's from being responsible for rising gas prices due to supply and demand issues off shore and not for a lack of our drilling.
      We are in a position to sell nd are selling our oil off shore.
      How does that help keep prices low?
      We are drilling more than in the past decade.
      Bringing oil in thru the Keystone Pipeline does nothing to wean us off 'foreign' oil, that product is coming in from a foreign country too.
      A green energy company that borrowed $500+ Billion from the govt amd went belly up wasn't the 1st time something like that happened and probably won't be the last.
      Keep an eye on SPACE-X, they may be next.
      I remember when the ocean off Cape Camaveral was called "Snark" infested waters because so many ICBM's failed on launches.
      A lot of those missiles were SNARK's built by Northrop.
      DooDoo happens, get over it.

    • Keystone would pipe in oil from a country that doesn't want to make us extinct. Demand is down, eh? I will let it go as dementia for now.

    • Not me. I am too pragmatic to fall into that trap. You Right Wingers think everyone else has no knowledge about economics and how the markets work. If some Right Winger doesn't tell you what to say, you are normally clueless.

    • What I can't figure out is you, stoooopid, and I'm not going to try.

    • Another stupid post by Tiglet. He has no idea what is going on. All he can spout, it's the liberal press. Let me enlighten you Tiglet, the majority of the papers are owned by conservatives. It is a good thing that some reporters have the termerity to print what really is going on.

    • They are all wealthy, don't need to look it up. Repub & Dims, all the same. ira can't figure that out.

    • <<It was OK when Obama blamed Bush...>>

      Yeah, but bushie was an "oil man"...and o is an "anti-oil" man.

      bush and cronies are very wealthy oilers (ya could look it up).

      follow da moneys...

    • exactly and the liberal press runs with it. Obama demonizes oil companies, saves unionized car sompanies, demonizes banks and stays silent on fannie mae & freddie mac. the guy plays favorites too openly. "pay your fair share" what an aholeinoffice

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