oil

Gasoline prices dropped nearly a quarter this week to $3.93.

Oil dropped$22 a barrel.

Bush blamed congress for high oil prices, stating the need to open up offshore drilling.

Congress retaliated by stating that it would take until 2012 to see any oil and it would produce less than 1% of our current consumption. Also claimed that oil companies have land based leases that have not been developed.

The government released news today that gasoline supplies were lower than expected, causing oil to gain $2 a barrel.

Shell yesterday, and Exxon Mobil today, reported profits for the second quarter 2008 around 10 billion dollars(over 11 billion for poor exxon)-top five for American companies quarter profits. ever.

Today, Barak Obama said in a town hall meeting that he would advocate alternative energy to steer us away form our dependence on oil.

What do these cumulative facts tell me? That oil lobbies are going to do everything they can to get those offshore and Arctic refuge leases before the current administration leaves office. Not satisfied with raping the pocketbook of the (world), it's a no holds barred race to lock in any remaining sources of oil for further monopolization.

Oh yeah, and vote for Barak. :D

Ed note: today Barak Obama changed course and said that he would support limited offshore drilling. Not sure I like where that is going....but what other choice do we for president?