McCain credits Bush for drop in oil price

[Bleacher Creature]

Source: AP

By TOM RAUM, Associated Press Writer
26 minutes ago

WILKES-BARRE, Pa. - Republican John McCain is crediting the recent $10-a-barrel drop in the price of oil to President Bush's lifting of a presidential ban on offshore drilling, an action he has been advocating in his presidential campaign.

The cost of oil and gasoline is "on everybody's mind in this room," McCain told a town-hall meeting Wednesday.

He criticized Democratic rival Barack Obama for opposing drilling on the Outer Continental Shelf.

Ten days ago, Bush lifted a 1992 presidential ban on offshore drilling and urged Congress to do likewise. McCain said, "The price of oil dropped $10 a barrel."



Read more: http://news.yahoo.com/s/ap/20080723/ap_on_el_pr/mccain

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The degree of stupidity in these statements is beyond the pale.

[jobycom]

1. Stupidity or desperation? nt

[Tandalayo_Scheisskopf]

10. Let's trim the difference:

Desperate Stupidity or Stupid Desperation.

Anyway you slice it, McDepends has become The Candidate Who Will Say Anything®.

[stray cat]

2. Maybe he bribed the Saudi's to drop it a little during the electon?

I wouldn't put it past him to sell us out in some way to get repub votes now and we pay for it later.

[Bonhomme Richard]

3. What a crock of shit.

LOL, If he had any sense he would have at least credited it to something he said....not bush.

[gateley]

4. Well it's made a BIG difference at my pump - how about yours?

:sarcasm:

[elehhhhna]

5. Maybe they announced curbs on TRADING? Duh.

[Parche]

6. There Is A Ranch In Crawford We Can Drill On

:sarcasm: :sarcasm:
:hi:

[Prisoner_Number_Six]

20. "During Crawford exploration we discovered a major new field of pig shit!"

It's a vast new energy resource ready for national exploitation! We're saved!!!!

...Oh, wait a minute... it's just *bush's bedroom. Never mind...

[liberal N proud]

7. All while he is running ads blaming Obama

The propaganda crosses it's self

[Stuart G]

8. It sounds as if someone is sucking up to someone else...

But I could be wrong..Maybe someone is not smart enough to know what he is doing...

[gasperc]

9. well, when China lifts it's driving ban

he'll rue the day he said that. But all in all, it's totally conceivable that gas prices could drop to $3/gal after labor day.

[HopeHoops]

11. "Jawbone OPEC" - gas was about $1.36 in Wilkes-Barre then

Remember Bush complaining about high gas prices? Gas was around $1.36 when he did his "Gas prices are two high. Dick and I are oilmen. I'll jawbone OPEC into lowerin' prices" thing. Sure, I'll give him credit for oil dropping $10 a barrel. Too bad he didn't do it back then when it would have amounted to about A THIRD of the cost of a barrel. The only "jawboning" of OPEC Bush has ever done involved knee pads.

[Javaman]

12. Drop? last time I checked, a price of oil is still well above the price

it was when moron* stole office.

I guess like torture to them*, it's all relative.

tools.

[panzerfaust]

13. Say it's not True John - I thought it was YOU!

Actual * Effect on Oil pricing:

Good Friends tip-toe through the Bluebells

( Yeah, I know I just used this pix recently: But it is too good, too true, too forgotten ... )

[zbdent]

14. and, of course, the fact that Congress is getting ready to investigate

the speculation has absolutely nothing to do with it ...

The same way that the price of gas dropped in 2001 after the Senate went from 50R-50D (+ tie-breaking Cheney) to 50D-49R-1I ...

[raebrek]

18. 2001?

Do you mean 2006?

Raebrek!!!

[onehandle]

15. Onehandle credits Bush for increase in oil price to start with.

The Oil President.

[fascisthunter]

16. more twisted conservative rhetoric... "up is down"

"war is peace"

[onehandle]

17. Additionally, Will Bush be credited for all the other prices that will drop now?

Oh, wait. The increased food and goods costs will never drop.

Just as planned.

[radfringe]

19. who did he talk to?

my partner works around the corner from the Kirby, where mccain was this morning. Mccain also "reserved" the square in the center across from the kirby.

doors opened at 8am, when she drove past the Kirby this morning around 8am, no one was "lined up", no one in the square, but there was 50 or more people across the street holding up Mccain=Bush signs.

It is a rainy day, so that could account for no one in an "overflow" area at the square, however at lunch my partner went to one of the food stands around the square, asked the person if there was a big crowd for mccain. the food person just chuckled and said it looked to him as if there were more protestors than people going in to see mccain...

cue the crickets

on edit: Kirby center has a seating capacity of approx 1,800

[underpants]

23. Phil Gramm has a PhD in economics

:rofl:

[radfringe]

28. caught local news regarding McCain in W-B

as previously mentioned - the Kirby Center holds 1,800

local news reporting "several hundred" attended - which means McCain couldn't fill the venue

[neuvocat]

21. So much for understanding supply and demand.

The Saudis increased oil production in order to drive down prices so that consumers wouldn't be so driven to look for cheaper alternatives (it failed as Mercedes and Chevy are phasing out gas vehicles altogether). It wasn't too long ago that McCain was shown to be out of touch with the issue of gas prices. I guess I'm not too surprised.

[Zorra]

22. For John McSame, the sun rises and sets on his mentor and idol, George W. Bu*h. n/t

[Tab]

24. And I credit Bush for a $100 rise in oil price

Sounds like our boy still has a bit of work ahead of him.

[peanut2010]

25. It has come down because they stopped threatening Iran

As soon as they start the war talk it will go back up again.Bush and Cheney will not tolerate oil prices falling.

[Politicub]

26. Hmm... I must have missed this "drop"

Because gas here is still $3.99 to $4.15 a gallon.

Is McCain that stupid? I'm starting to think he truly has dementia.

[struggle4progress]

27. Let's look at end-of-second week July prices in recent years

United States Spot Price FOB Weighted by Estimated Import Volume (Dollars per Barrel)

1998-Jul 07/10 10.68
1999-Jul 07/09 16.97
2000-Jul 07/14 27.03
2001-Jul 07/13 22.64
2002-Jul 07/12 23.94 <up 5.7% from year earlier>
2003-Jul 07/11 26.14 <up 9.2% from year earlier>
2004-Jul 07/09 33.57 <up 28% from year earlier>
2005-Jul 07/08 52.01 <up 55% from year earlier>
2006-Jul 07/14 67.24 <up 29% from year earlier>
2007-Jul 07/13 70.63 <up 5.0% from year earlier>
2008-Jul 07/11 133.32 <up 88% from year earlier>

http://tonto.eia.doe.gov/dnav/pet/hist/wtotusaw.htm

Oil today is around 134.44: that's more than five and a half times the 24.37 cost when Bush took office. Way to keep those oil prices falling, guys!

And stay tuned for our next report: How playing hopscotch on the interstate can make your child healthier