Do Your Civic Duty

[TheKilo]

Bush's Secretary of Defense will serve under Obama

[a700hitter]

My understanding is that a significant driver of the lower oil prices is global recession, which would result in decreased goods production worldwide, therefore decreased demand as well...combined with voluntary conservation, of course.

Then again, at $1.95 a gallon, suddenly the SUV drivers have shut their whining pie holes and are happy again...ahh, how quickly they forget.

A recession that was in part caused by high fuel prices. The recession resulted in lower demand, resulting in lower prices. OPEC cut production to reflect the lower demand, but prices kept falling. The threat of drilling, conversion to natural gas, etc. kept the speculators from driving up the price of oil. They had found the level ($5/gallon) at which the economy would reach the breaking point. There was an immediate reaction. There was serious discussion about domestic energy sources. The speculators ran in the other direction causing a two day historic precipitous decrease in oil prices and future. Since those two days, oil prices have been on a gradual consistent decline which is more reflective of a response to recession economics.

[a700hitter]

Bush's Secretary of Defense will serve under Obama

Now, that's change we can believe in.

[TheKilo]

Wait, are we getting upset at Obama for reaching across the aisle and having someone from the Bush administration be his secretary of defense, but at the same time chastise him for picking someone like Rahm Emmanuel?

Can't have it both ways...

[a700hitter]

Wait, are we getting upset at Obama for reaching across the aisle and having someone from the Bush administration be his secretary of defense, but at the same time chastise him for picking someone like Rahm Emmanuel?

Can't have it both ways...

I haven't criticized any of his picks. I am just noting that their isn't much in the way of change at the cabinet level that so far are old Clinton or Bush appointees.

[rician blast]

Since those two days, oil prices have been on a gradual consistent decline which is more reflective of a response to recession economics.

exactly