i think it was obvious to me where bushs loyalty lies. for the critics of this question i would ask them to watch or read bushs brain. critics will be quick to give an excuse why prices were high. yeah and the left one plays jingle bells. its easy to spin justifications out. look at the iraq war how many reasons do you remember them giving for that? think about it , if the president is willing to go to war for fabricated reasons is it a stretch to imagine him helping his cronies make bilions extra and earn himself a big bonus after his office is overBush no longer in office Exxon Oil profits drop for the first time in years!?
Really so why is President Obama looking into the Speculation that caused the price of oil to rise? President Obama is looking to create a law to prevent that from happening again.
Speculation has nothing to do with the POTUS rather Democrat Speaker Pelosi had a Choice to create legislation to block Speculation and she didn't.
The people responsible for setting oil prices were caught redhanded a couple of weeks ago setting prices at whatever they wanted to in order to make a profit. It's no surprise that prices went down. That on top of the state of the economy is the reason for the lower prices. Blaming Bush is what people do when they don't have a clue how things work.
Actually, as much as I didn't like George W. Bush, I have to say that prices are still more than double what they were before all this happened.
I think the American people fell for the ';Two steps forward, one step back'; Principle.
Raise Gas 2 dollars, and people get infuriated. Drop it one, and they are happy-not realizing that it's still far too high.
Well we have less Manufacturing, Companies are ordering less goods, as there is a lower demand for products, we have High Unemployment which means people are driving less, Tourism is down, people are flying less, etc...
I could go on and on.
But it really is Supply and Demand.
With the Economic Downturn there is less of a demand.
Here's what I think.
Gas prices were 'down' way before Bush left office!
With lower gas prices, Exxon profits are bound to drop!
Those are facts, not attributable to Bush or Obama!
It's not a Bush=bad, Obama=good world!
Supply and demand. If Bush hadn't been such an obstructionist regarding alternate energy and conservation, the demand would have gone down years ago. The Bush/Cheney oil cronies had 8 good years.
Supply and demand, the demand is not there since 10% of people are out of work.
News Flash: Steel has gone down also since China isn't buying it all for the Olympics prep.
Hope this helps.
any implications put upon the bush administration are also applicable to the obama administration, regarding oil price manipulation.
I thnk there will be many pensions in trouble now.
What everyone keeps forgetting is that the American People own Exxon through insurance, investments and pensions.
Bill O'Reilly has absolutely no idea what he's talking about on this issue.
Uh easy Oil is dropping because NO ONE is working. Have you seen the unemployment numbers? No jobs, nowhere to drive which equals less usage of Gas... It sur as hell ain't dropping because of Obama.
I think the fact that we have a glut of oil supplies coupled with reduced demand has a lot more to do with Exxon Mobil profits than anything Bush or Obama have ever done.
Much as I'd like to agree I have to go with the masses here.
No job=no commute. No commute=less gas purchased
Less gas purchases=lowered profits
I think their profits declined at the end of last year, while Bush was still in office. You must have been sleeping or something.
hey Floyd. No I see no correlation between your poor question and the dissing of A Good NON COMMIE PREZ. your gonna wanna wish he was back in 4 years!
I think that if exxon-mobil tries to gouge us again they would be investigated, unlike the last eight years.
And yet there are people who still think we should drill for more oil.
Profits are down because people aren't buying as much gas. It's that simple.
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All I can say is good! The sooner corporations like ExxonMobil go bust the better
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