[J. Abizeid]

Let’s admit it; the Republicans have enough power to overcome natural disasters.
Gustav was a real thing that forced shutting down most oil production and supply from the gulf. Yet, oil prices went down instead of up! It’s like beating the laws of physics.
That is another proof that oil prices are fixed regardless of demand and supply. The media’s job is to justify the fixed prices. (We don’t hear Bush talking about attacking Iran anymore.)
Who can doubt the oil investment industry wants another republican in the W.H. They are willing to sacrifice $15 a barrel during the Republican convention so people listen to them rather than complain about gas prices. They want to make sure gas is lower during the RNC than the DNC. Such a time limited sacrifice is considered campaign contribution for the Republican Party.
Eight years ago, during the Gore-Bush campaign. Oil tankers were diverted away from the west coast to Asia while gas prices were skyrocketing at the gas pumps. Bush was using his argument to drill Alaska oil while Gore argued against it. Bush won gas prices went back to normal afterwards and we all forgot about Alaska…
I don’t see oil go up until after the elections since it’s a Bush not a Clinton administration unless they come up with a twist that helps McCain with votes.
Meanwhile the euro remains between $1.45 and $1.49
After the elections, we’ll have a different picture. I expect oil and the euro start going up gradually but quickly.
They’ll blame it on high heating oil demand…
For the next few months, Europe, specially Germany’s manufacturing will benefit from lower oil prices and their exports from lower euro which will reflect healthier economy for the next quarter helping the euro start another round upwards.