Are oil prices dropping in direct proportion to EXXON's fear that Obama will win?

Question

Ending the war = $70 a barrel oil.

And why is oil dropping? I thought China was buying it all???? Did they stop? Are American's driving less? NO!!! As the price drops THEY ARE DRIVING MORE!!!!!!!!1

ARREST EXXON for PRICE MANIPULATION!!!!!

Answer 1

The hurricane didn't hurt the oil rigs, that's why it was down today. Demand has been dropping, mostly because people are driving less and getting rid of big trucks and SUVs. There is nothing political about that, and it isn't a conspiracy like you are suggesting.

Answer 2

Because people like me are driving mopeds and driving the van a lot less.  Also the new drilling in anwar expected.  This is war on the oil rich countries that are soaking up our money to back terrorist and dictatorship. The war is already ending because we accomplished objectives.

Answer 3

Nope, just the opposite effect, McCain calling for drilling immediately the price started drilling, also when Pres. Bush lifted the ban.

Answer 4

The price per gallon objective has been $3,00.  Programming the run up to $4.00 has consumers happy to accept $3.00 per gallon.  Relative perception is interesting.

In reality the only change in petroleum refining and distribution over the past forty years is the opportunity for profit objectives.  Technology facilitates the manipulation of profit models.

Mainstream America has learned a valuable lesson.  People have adjusted to functioning with less petroleum.  Now the petroleum interests will learn how well Mainstream America has applied the lesson.

Answer 5

it's the speculators... they are wonky... they hear a voice in their head that says Iran is attacking Iraq and the price jumps 30 percent... with virtually no supply or demand change...

supply nor demand have changed enough to explain recent price drops, just as no demand changes explained nearly a tripling of price before...

Answer 6

Demand is down. Even ABC News knows that, and they were cheering it's rise.  

Answer 7

Same thing happened in 2006. It's an election year, someone starts to pull the right strings regardless of hurricanes, wars or supply and demand. If Gustov and the takeover of parts of Georgia by Russia had taken place a year ago instead of this year, oil would now be over $200 a barrel and gas would be over $5 a gal