CNBC Blogger Credits Obama with Oil Drop

[sabra]

http://www.businessandmedia.org/articles/2008/20080804164926.aspx

Author claims victory could knock $40 a barrel off cost, but he's a Democrat donor and other experts disagree.

The price of oil continues to plunge – off more than $25 a barrel from its high. Naturally, someone was bound to credit … Democratic presidential candidate Barack Obama. Only one problem, the financial expert who did so is also a recent Democrat donor.

Chief Bond Market Strategist Tony Crescenzi, of Miller Tabak + Co., LLC, wrote on the CNBC “Guest Blog” August 4 that “expectations of an Obama win could knock $40 off the oil price.” According to OpenSecrets.org, Crescenzi gave $687 to the Democratic Senatorial Campaign Committee in late 2007.

He claimed Obama’s August 4 energy speech reaffirmed that position because the candidate “might tap the Strategic Petroleum Reserve (SPR)” if elected. He gave Obama’s speech partial credit for the $3.69 drop in the price of a barrel of oil the same day.

“Obama said ‘we should sell 70 million barrels of oil from our Strategic Petroleum Reserve for less expensive crude, which in the past has lowered gas prices within two weeks,’” Crescenzi wrote. He went on to claim: “If Barrack Obama wins the presidency, the price of oil could fall $40 per barrel.”

[Divine Discontent]

1. note - If Obama wins, the price of oil WILL drop over $40 a barrel!

that's why they're spewing filth about him everywhere in our country - we MUST fight back for honest.

I just "corrected" a couple of Hillary ladies from southern FL today, for saying "Obama scares the SHIT out of me", and saying, McCain is a continuation of B*sh, so I cannot imagine voting for that, and I'll hope that Obama is everything he seems to be, I know he's new, but he's our candidate. (They are GLBT like me, so I know there's a lot of dislike of him from our side of things, but the cookie dough has been made, we have to bake it!)

GOBAMA!


MORE AT ----- www.cafepress.com/warisprofitable

[Cha]

2. Rec'd! And that's why the corporate media

who's got oil backing does not want Obama to win..they're too greedy for anyone's good.