Tag Archives: Oil Prices

Dear President Bush: Send More Money !

President George W. Bush
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear President Bush,

Just wanted to let you know that we received the very generous “economic stimulus” check you sent us recently. It was greatly appreciated.

We thank you.

ExxonMobil thanks you.

The oil speculators thank you.

Saudi Arabia thanks you.

(just to name a few)

Oh, I almost forgot… There’s just one problem. It’s all gone. With each visit to the gas station costing $75.00, your check didn’t go as far as we expected. And now, our gas gauge is on empty again.

Please sir, may we have some more ?

Sincerely,

Routing By Rumor

P.S. – Please also send another check to all of the people who have posted comments below.

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March 17, 2008 – A Gathering Storm On Wall Street

The stunning collapse of investment banking firm Bear Stearns over the weekend, and it’s fire-sale purchase for pennies on the dollar by JP Morgan Chase has is just the latest bad news rattling investors’ nerves.

Oil, which crossed the $100 / barrel mark less than a month ago, hit another record high of almost $112 / barrel on world markets today. Gasoline prices have followed suit, hitting new highs on a daily basis, with no end in sight. Rising fuel prices prompted United Airlines to raise round trip fares as much as $50 last week.

The Federal Reserve enacted another emergency rate cut over the weekend, with yet another cut of up to 100 basis points expected later this week.

The U.S. dollar continues to weaken, making foreign goods more and more expensive for Americans.

Almost every day, you hear of another major retailer reporting dismal sales figures.

Saying that the U.S. real estate market is in a slump is like saying that the Titanic sprung a minor leak.

The Dow finished last week below 12,000. Overseas markets have dropped sharply today, down between 4% and 5%. Fasten your seat belt when the U.S. markets open today.

Will today come to be known as the St. Patrick’s Day Massacre on Wall Street, or will it simply be another roller coaster ride for investors?

More and more lately, it seems that “no news is good news”.

And yet the Bush administration still can’t bring itself to  accept the fact that the U.S. economy is in a recession.

– RoutingByRumor

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$4.00 / Gallon Gasoline Is On It’s Way. Can You Say “Fill’er Up”?

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Tom’s Shell in Madison, Wisconsin (photographed 4/25/2001)

And you think things are tough now?

Just when you thought it was safe to pull into the gas station, the experts are predicting that oil prices are going to continue their upward climb.  Oil has been closing at new record highs almost every day lately.

Actually, we think that all Americans expect to see  $4.00 $5.00/ gallon gasoline pretty soon.  Well, all except President Bush. He hasn’t been in the loop when it comes to energy prices (or most anything else, apparently). Here’s a CNN video of the February 28, 2008 press conference where Mr. Bush expresses his utter bewilderment that the experts are predicting $4.00 / gallon gas. Kinda surprising, considering that he is from an oil family, from Texas, and the leader of the free world. Then again, we don’t think Mr. Bush has had to pull any of his limos up to the pump lately. To be fair, he did say he knew “it was high”. Speaking of being high…

We think he would have been just as surprised to hear that gas has been over $3.00 / gallon for some time already. Here’s the full transcript, (where you will also find a link to video) of the entire press conference.

We know you don’t get out much these days, George. What, with the war in Iraq, and having to give orders to shoot down spy satellites and save the world from deadly hydrazine and all. But you DO surf the Web, don’t you? You do read this blog, don’t you?

We were actually hoping the spy satellite would land in our backyard. Your car gets twice as good gas mileage on hydrazine as it does on unleaded premium. We would have dragged that sucker into the garage and pumped it’s tank dry.

If high gasoline prices cause you to run out of gas when far from home, here’s one solution.

Readers can do their part. Next time you’re at the gas station, snap a picture of the gas prices, and e-mail it to the President. Unfortunately, the White House contact page lists Vice President Dick Cheney’s e-mail address, but not the President’s. Send Mr. Cheney the photo, along with a note asking him to please wake up the President and show him the e-mail. While he’s at it, perhaps Mr. Cheney can have Al Gore pay Mr. Bush a visit, and teach him how to use the Internet. After all, he did invent it.

Next time your gas gauge says “empty”, don’t bother pulling in and asking for five or ten bucks worth of gas. They’ll laugh you right out of the station. Could the $100.00 fill-up be too far off? Gas is reportedly already above $4.00/gallon in some places, such as San Francisco. Once it tops $5.00, that $100.00 fill-up could be the new reality. Can Americans afford this? What about the impact this is having on the cost of consumer goods!

The economists at RoutingByRumor predict that you’ll see gasoline break the $4.00/gallon mark this summer. And if unforeseen problems arise in the Middle East, you could see it go much higher than that. When your economic stimulus check arrives, don’t forget to take it with you to the gas station. Just think of it as President Bush’s gift to “big oil”.

If you think inflation is out of control now, you ain’t seen nothin’ yet. See our recent post about what the price of oil is doing to the U.S. economy.

As Esso (or was it Humble Oil) used to say, “Happy Motoring”.

Hybrid and electric vehicles are looking better all the time.

– RoutingByRumor

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