Open Thread . Oil Plunges Another $10 as Bailout is Rejected. 20% Plunge in Past Week

Here in the US southeast we don’t have any gas. Seriously. Stations are completely dry all over Atlanta and through the I-85 corridor.

National GW/Battleground Tracking Obama 46, McCain 48 McCain +2

In the 2004 presidential election, the GW-Battleground Poll had the distinction of being the most accurate national poll predicting the presidential election outcome. Initiated in June 1991, the GW-Battleground Polls have gained widespread recognition as reliable, leading indicators of national opinions and voters’ intentions. The national polling program is unique to the industry because it offers the distinct perspective of two top pollsters from different sides of the political aisle.

The George Washington University is the sponsor of the GW-Battleground Poll. GW’s role in the poll is guided by the university’s Graduate School of Political Management. The university was recognized as having some of the most politically active students in the nation in the 2009 Princeton Review.

http://www.gwu.edu/~media/pressrelease.cfm?event_id=14408

Ok…. it’s time to paraphrase the Fabulous Furry Freak Brothers.

Gas will get you through times of no money better than money will get you through times of no gas.

TOKYO — The historic carnage on Wall Street reverberated across Asia Tuesday, with stock markets in the region plunging after U.S. lawmakers rejected a US$700 billion bank rescue plan aimed at stabilizing the U.S. financial system.

All major Asian stock markets in the region tumbled across the board, succumbing to heightened fears of a broader global financial crisis.

Japan’s benchmark Nikkei 225 index nose-dived more than 544 points, or 4.6 percent, to 11,199.07, with popular stocks like Sony Corp. down 6.8 percent and Toyota Motor Corp. down 4.6 percent.

In Hong Kong, the Hang Seng index sank 3.6 percent. Markets in Australia, South Korea and the Philippines were also down sharply.

http://www.foxnews.com/story/0,2933,430381,00.html

Shuman The Human, Fat Freddies Cat….

all very strange, like an accident you can’t look away from.

But sometimes very funny.

I have a couple of issues somewhere?

Heck, if this keeps up gas may be $3/per gallon again. I think Trump and Newt are right. No need to rush to do anything in panic.

Last weekend there were plenty of tourists downtown carrying shopping bags so I don’t know…Of course, who knows maybe those bags had tee shirts in them rather than $$$$ goods. During downturns, we usually do have tourist activity because of our proximity to the SF Bay and Silicon Valley and when they can’t go to Europe, they come to quaint Carmel to use the town itself for entertainment. Disneyland-by-the-Sea. That’s when you see them on the park benches or at the beach sharing a Deli sandwich and the restaurants empty. I’ll venture out tomorrow and ask the merchants it they’re getting any sales.

This is just unreal. April 28 2008 interview with Fox

OBAMA: Well, I think there are a whole host of areas where Republicans in some cases may have a better idea.

WALLACE: Such as?

OBAMA: Well, on issues of regulation. I think that back in the ’60s and ’70s a lot of the way we regulated industry was top-down command and control, we’re going to tell businesses exactly how to do things.

And you know, I think that the Republican Party and people who thought about the markets came up with the notion that, “You know what? If you simply set some guidelines, some rules and incentives, for businesses – let them figure out how they’re going to, for example, reduce pollution,” and a cap and trade system, for example is a smarter way of doing it, controlling pollution, than dictating every single rule that a company has to abide by, which creates a lot of bureaucracy and red tape and oftentimes is less efficient.

Yeah, make pollution control voluntary. What an idiot.

I love Carmel…well.. Monterey and Pacific Grove are also beautiful.

I BET PELOSIS FRIENDS, AND PUTIN , AND IRAN ARENT TO HAPPY ABOUT THIS…THEY WANTED US TO BE PAYING 10 BUCKS A GAL

Anybody hear Trump today…

Oil may drop to $20 a barrel if we have no bailout.

He really is GWBush’s evil twin. He’s not really black…that must be pancake make up.

UW,

The talks were not bi-partisan. Pelosi stuck a shiv in the Republicans and the Republicans told her FU.

If the Bill was going to pass all that was needed was 12 more Democrats. So why didn’t Obie talk to JJ Jr. and Bobby Rush? That is two.

JJ Jr. is on his campaign team.

another few days without the bailout, and you got free gas. Gore wouldnt like that too much.

WOOOOOT!!!! 2 Dollars a Gallon Unleaded HERE WE COME!!!!

I might get another Jeep Wrangler after all and go offroading and run over a few saplings in honor of the Democratic Parties Ethenasia of its integrity and Beliefs and the presidential run of the best candidate we ever had!

In Memory of the Hillary Clinton Campaign, I WILL NOT be planting any acorns.

Anyone want to loan me a few carbon credits?

Well that’s some good news at least.

Yes, it is a beautiful place…the entire peninsula. And, although we have an huge amount of wealthy people here, it can be a place to enjoy without money too…as the tourists have learned. I don’t have anything against that but now that it’s not just a town of charming cottages where people live but rather a tourist destination, we do count on people coming to spend money in the shops and restaurants. I don’t know whether the lay-offs in the retail shops are due to fear or real sales slump. Probably some of both.

There are a lot of people here and in Pebble Beach who are so wealthy that the market just doesn’t affect them. Carmel houses are about 60% second homes. It will be interesting to see what happens to the RE market when it starts shaking out for real. We still have 2 bedroom 1 bath houses listed for over $1million. Ridiculous for sure and there’s a big inventory but people seem to think that the value will hold…like SF and NY. I hope not and that it comes back to reality…maybe one day I can afford a 1bedroom over in Seaside.

Why isn’t there any gas? Because of the hurricanes?

We can call that the other side of the coin.
If the market is allowed to painfully correct it self then the reduction in demand world wide will cause a collapse in oil prices.
Here is the video on Fox/Cavuto
http://www.foxnews.com/video2/video08.html?maven_referralObject=3119031&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/

The Dems who voted against it were the Congressional Black Caucus, Congressional Hispanic Caucus, and progressives like Dennis Kucinich. Dennis said Obama had all bankruptcy and mortgage renegotiating language removed from the bill. It was toothless. Obama is a deregulating, tax-raising, corporate liberal.

McCain is a stubborn, oversight-enforcing, populist.

Sauds got a lot of money in the deal. Rezko was buying real estate here, a lot of foreign capital.

The 2nd largest cotton gin in North America is foreign owned.

They were trying to ease the shock as a favor to Bushco. Cheney will have his hand up Bush’s ass telling him what to say in the morning.

Expect him to declare emergency powers. At least that what he did today or tonight with a signing statement. Congress should have kept the House running session all night. That would mess up his ability to go through some after hours appointments.

LA Times: Bush the arrogant

As the Bush administration attempts to stabilize the nation’s economy, we are witness to the final chapter of a period of perverse and dishonest leadership that has used its own crises to justify the expansion of its own power. This was a president who came to office on promises of modesty — who championed a “humble nation,” scorned nation building and promised a more limited role for government in the lives of its citizens. Then he presided over a six-year attempt to tear down and rebuild the nations of Afghanistan and Iraq, and now has embarked on the most profound expansion of the federal government’s role in the private economy since the Depression.

In both cases, the pattern is the same. Ineptitude led to crisis; crisis then became the argument for the radical expansion of executive power. The administration insisted that it exercise its new authority with a minimum of scrutiny by Congress, the courts or the public.

In the so-called war on terror, that has meant the abdication of our most basic American principles. We have forfeited privacy and honor — the administration has monitored phones and e-mails without warrants and has secreted prisoners in foreign lands, arguing that they deserved none of our protections even while in our custody. As a nation, we have stooped to torture (while debating the meaning of the word) and refused to recognize one of our most basic Anglo-American notions, the principle of habeas corpus (thankfully, the Supreme Court, seven of whose members are Republicans, drew the line at that abomination). We have held prisoners in detention without trial, without charge, without end. In so doing, we have antagonized the world and debased America’s moral authority to lead.

The same administration responsible for these catastrophes has over the last month nationalized the largest source of funding for mortgages and the largest insurance company on the planet. And it proposed to intervene even more dramatically in the nation’s economy by having the Treasury Department — with no court, congressional or public oversight — relieve financial institutions of the troubled mortgages and related securities that have locked up the lending system.

Hitler youth…….obama youth. for the 2 mins, its boring but relevant. the next 2 minutes you get to see something disturbing.

http://www.youtube.com/watch?v=u6_eIQQpDGQ

OBAMA/BIDEN 2008

I think I’ll keep my Hemi

Go America!!

http://www.ericdsnider.com/images/goresmash.JPG

That’s what everyone’s telling us, and that’s all I have to go on. It just seems so strange to hear about oil prices going down, but weeks after the hurricane in Texas we’re out of gas. I’m serious, too. I had to run around the better part of my day to find a station to fill up at.

http:wait isnt dfgdg on eof those illegal contributors to the obama campaign along with jkhfdg and DOODAD?

BUSTED!

Does anybody understand why oil prices are dropping? Has the lack of available credit somehow impacted speculation or something? It’s hard to believe demand has fallen off so quickly, especially since supplies have been disrupted by the hurricanes.

its not demand that drove up the price it was speculators.

obama bi___den
osama binladen

who needs foreign terrorists when the DNC’s Presidential Candidate has home grown terrorists of his own.

Osama Bin Laden?

Owilliam Bin Ayers!

Yikes. I am in LA and it looks like a bunch of naive new age people to me (and I am new age!)

Did you notice that Obama now admits that he was a Kenyan citizen until he was 21? It’s on factcheck.org. He still claims to have been born in Hawaii, but his father made him a Kenyan citizen by virtue of being a Kenyan.

Hmmmmm. One step closer to the October surprise?

Free houses for the poor.

Too bad that impeachment thingy never worked out. You would think they could have got him for illegal spying on his personal enemies like Nixon.

Looks like the the pakistani president got bit by the Palin bug…..lol

The leader of the infamous Lal Masjid in Lahore, Pakistan has issued a ‘fatwa’ against Pakistan President Asif Ali Zardari for publicly making indecent gestures towards the American Republican vice presidential candidate Sarah Palin. The clerics have dubbed this act as ‘un-Islamic’ and said that Zardari has shamed the nation. The prayer leader of Lal Masjid — Maulana Abdul Ghafar, clearly said that Zardari’s flirtatious remarks to a non-Muslim lady is not only un-Islamic but also unbecoming of a head of state of a Muslim country.

He added that Zardari’s body language towards Palin and his deep desire to hug her was shameful for the entire nation. During his meeting with Palin in New York on the sidelines of the UN General Assembly, Zardari called her “gorgeous” and said “now I know why the whole of America is crazy about you”.

And when Zardari was asked to keep shaking hands with Palin for the cameras, he said, “If he’s (the aide) insisting, I might hug.”

This recent offhand compliment to US vice-presidential hopeful Sarah Palin created quite a flutter not only in the real world but also in the virtual world.

Rezko is talking to Federal Prosecutors, looking for leniency in exchange for information…

****BREAKING NEWS**** via Texas Darlin
Open the top link first

http://texasdarlin.wordpress.com/

http://laotze.blogspot.com/2008/09/obama-throwing-papau-under-bus.html

http://www.guardian.co.uk/commentisfree/2006/nov/30/genocideinwestpapua

Goldman Sachs paid Saint Obama almost half a million bucks for that toothlessness.

from what I understand it is now speculators driving the price down. in other words they are betting the economy will take a down turn and we wont be able to spend as much on oil. because of that they arent buying it as an investment

texasdarlin.wordpress.com/2008/09/30/obama-is-indonesian/#comment-14024

laotze.blogspot.com/
OBAMA IS AN INDONESIAN
U.S. Congressman Eni Faleomavaega, an outspoken critic of Indonesia’s oppression of Papua and a Barack Obama supporter (and Superdelegate), visited Indonesia in July 2007, with the purpose of “acquiring any and all documentation or photographs of a young Barry Soetoro.” Martin claims that a substantial sum of money was exchanged.

Donald Trump was interviewed on Fox News today and explained that if this “bail out” doesn’t happen, we will see crude oil prices drop as low as $25.00 a barrel….He also noted that as soon as the “bail out” is pushed through we will see the price soar right back up to where it was before this fiasco sham began

The news is reporting that it is due to expected reduced demand caused by a slowing global economy. I saw one expert predicting it might drop to 50 US dollars in the future. I remember some experts were telling us that oil prices will rise to 200 dollars or more a few months ago so I have no idea what to make of this information, but I like the 50 dollar prediction a lot more than the 200 dollar one.

Watch this — Repost it EVERYWHERE!!

http://www.youtube.com/watch?v=NU6fuFrdCJY

He looked under Obama’s bus, and is singing like a bird.

It’s simply diversion from his real problem…

Obama is still an Indonesian.

Bail Out Main Street.

It’s not surprising and what they are not reporting is before the bail out vote the market was down 300 pts. That is because of the Europe bank failures and Wachovia. So, trying to sell this bail out as actually going to turn everything rosy is a joke. Many are saying it will not work and almost all say it’s a bad plan.

Both candidates are failing badly, the real problem is McCain has absurd trade, economic positions that completely deny what’s happening on main street and do not put U.S. citizens/workers first. Not that Obama does either but he sounds better.

You know who saw this financial crisis coming and had plans all in place, vetted? Hillary Clinton.

Trump is an idiot. I’m sorry there is no way oil is going to $25 dollars. What they are not talking about is many oil speculators who were short plain went out of business because they got caught in a squeeze earlier. Why do they interview these people? Listen to a real oil markets expert.

Yes, and woe to all the asshats who decided not to vote for the most qualified candidate. Too many were voting for American Idol. They forgot that being president requires genuine leadership skills and smarts. Hillary dances circles around them all.

After eight years of the dopey Bush, I guess they figured anybody can do it. Not so much.

Since he was last an Indonesian, could not attend Indo schools unless he was an Indonesian, was adopted and gave up his US citizenship as a minor of the Mother who did so too and, and Indo does not recognize dual citizenships, and he never reversed his citizenship before age 21 or ever…..

OBAMA IS ONLY an Indonesian

–my analysis

all this Kenyan crap is obfuscation, it matters but Obama’s bots will try to argue that he had no choice in the matter…it’s all meant to muddy the waters over the Indonesian citizenship.

He’s a good little Canary.

Free trips to the poor house. (/GWB)

Is our children learning?
Often it has been said….

You may want to get your facts straight.
In 2003 Bush warned congress that this crisis was coming.
In 2005 McCain co-sponsored a bill to reel in Fannie and Freddie.
In 2007 the bill was reintroduced.
In all three instances the Democratic congress shot down all attempts to get a handle on the problem.

McCai/Palin 2008
Hillary 2012

The more I look at nancy pelosis and other members of the house and senate the more i realize the little bastards are purposely causing this crisis, inorder to frighten people, and sour them on the republicans. When you see her on national televison with her party members behind her telling american people it is the republicans fault and that hey refuse to cooperate. A light bulb goes off in your head. And one of the reasons I think obama is not in washington is because he does not want to be around if their plans cause a bust in market. He can claim he’s removed from it, and fane innocence. nancy will fall on her sword cause she won’t have a choice, if republicans want to fix this they need to find proof the democrats created this crisis and are now trying to act morally superior to get votes. if they do not, they won’t need a november suprise, americans will blame repubilcans and obama and friends will be there to save the day and reap the gratitude.

Ah, I see someone else has their eyes open.
Very good kgirl, you are spot on.

agree, I think they are short selling.

Maybe, the energy bill that lifts the ban on offshore drilling has something to do with it to.

good lord, I can’t believe the American people are buying this con man!

I do think the crisis is real – but I am more of the mind that Soros and the money people behind Obama pulled some Wall Street shenanigans to get the ball rolling and then exacerbated the situation. The Dems would rather destroy the economy than let McCain win.

I beg your pardon.

I never promised you no pardon!

BREAKING!!
BREAKING!!
BREAKING!!

TONY STREISAND REZKO SINGS!!!

Memories
Like the corners of my cell
Dirty kitchen cabinet memories
where they payed to play
Surveilence footage of the times Barack dropped by
taking Bribes from state contractors who had payed to play
Can it be that it was all so simple then
Scam State Pensions and then snort a line
If we had the chance to fleece them all again
Tell me
would we
oh oh oh could we
Memories may be beautiful and yet
Whats too painful to be pardoned
Will end up states evidence
so its the Mansion
we will remember
when ever we remember
Barack’s Boneheaded Move

Because refineries had to shut down due to the hurricane. there are some oil rigs that were damaged and will not be re-opened.

the surprising thing here is that Harry Reid tried to slip a moratorium extension on Oil Shale exploration in another bill. Oil Shale is our best bet in producing more oil other than the Gulf Of Mexico region that is always affected by Hurricanes. if Reid and Pelosi becomes successful in blocking Oil Shale production, then we will alway be vulnerable to gas shortages every time a hurricane hits.

I live in SE Colorado. The price of gas has fallen to $3.34/gallon from well over $4.00 a few weeks ago. I haven’t had a problem getting gas. My son works on oil rigs and he is working 60+ hours a week. They would have him working more if they could.

Some of the drop is due to speculators, and some due to the decline in demand.

If they pass a bailout bill, watch oil go back up.

You’re right. Good job.

Free McMansions for Everyone!

Bush can only implement what the Democrat controlled Congress sends him.

“Democrat controlled Congress”?

Sounds like you caught that right-wing speech impediment.

Actually, the prices under discussion are for futures contracts. These are the prices for a October, November, December, etc., delivery of a barrel of oil.

By the time oil from offshore drilling hits the market, years from now, supplies from other sources will be even more limited than they are today.

Isn’t it obvious? Bailouts are the price we pay for tax cuts.

The Horror Story of Obama’s Fans–a weird clip:
http://www.youtube.com/watch?v=-GCNfc4tsug

Obama doesn’t like the precident. Those cool new presidential super-powers look pretty good to him. He’s hopin’ to get his hands on them. He’s hopin’ to change our country.

But… into what?

Many congressmen reported receiving thousands of anti-bailout phone calls from “angry constituents.”

Is anybody else wondering how many of those were Obama’s Astroturfers?

haha

“People,

People who flip people…”

Good news, oil is down ten bucks?

Finally, we get to take that long postponed vacation in the repossessed family car.

Life is good.

gas prices at pomps didnt change at all, so were are those candidates for President??? whythey dont demend to get gas prices down???
Were is Obama, who is cashing a big time from Oli cooks, and were is McCain who should keep His words”America First”, we are AMERICA!!!! Gas prices must be way under 3 dollars, sine OIL went 1/3 down!!!

kgirl…. yest, You are so right. Pelosi is blamig Republicans, but for 2 years of”Democratic” Congress this mass rose untill Pelosi,Obama Dodd watch!!!What happend to OUR CONSTITUTION AND LAW”NO ONE IS NOT ABOVE THE LAW”???
FBI-get those guys, and stripp them from their rights. Those people in FBI will get hit as hard as we, we all together in fight againt those like;Pelosi,Reid,Dean,DODD, and all CEOs who put us in this mass in FIRST PLACE!!! Obama is not a saint, He is JUST a crook as all of them!!!

NOW WE ARE LEARNING, THAT mCcAIN IS “America First” Obama is “Obama First”!!!

not in Denver. I believe gas should be under 3 dollars. Oil went down 45 dollars, we must have gas for way under 3 dollars, Gouging continue, need investigatio….

After the bailout bill was defeated, Donald Trump said that was great and predicted that oil prices will plummet. Nice prediction

OMG funny.

Sing Antonin Sing.

Rise Hillary. Rise to the occasion and expose ob.