Oil Production May Not Freeze After All....

The Wall Street Journal on todays front page had a story about how the oil suppliers who supply half the world with oil and gas were trying to freeze oil production so that they could ratchet up prices to screw us and the economy, didn't quite get what they wanted. And let's be honest we're talking about Exxon Mobile and all of the other big guys that want to hurt us if they can. Greed has no limits.

But the talks collapsed after Saudi Arabia reasserted a demand that Iran agree to cap it's oil production.

I have often stated "The President doesn't have anything to do with the price of gasoline." But this time I might be wrong. President Obama negotiated a deal with Iran that now allows them to sell oil on the world markets if they let us keep poking around. And as a matter of fact, we do, and we have already caught them wrong, and that has been rectified so it's working. But since Iran can sell oil again, and since they need to raise capital in a big hurry they are going to help flood the oil market.
So maybe in this case the President did have something to do with the price of gasoline.

But wait, these American oil companies can't stand this. They want to be able to rape us again. It is driving them crazing. They still make record profits, but it's not enough. Greed has no limit.

But they fell on their face today. The only reason gas prices have gone up in recent weeks is on speculation that the oil company evildoers were going to get their way. But it was not to be, since talks have collapsed.

But this is not necessarily bad news for these oil guys in the long run. The continued lower prices allow them to force littler oil competitors out of business. And therefore when they ultimately get their way, they will do even better.

Disgusting isn't it?

But for now, oil prices may hit new levels on the downside. There may even see places that see gas under a dollar this summer. And that means they will have more money to spend on goods and services and therefore helping the economy.

But evil always seems to make a comeback, and this prosperity can't last forever.