The Mudcat Café TM
Thread #113258   Message #2422151
Posted By: GUEST,Sawzaw
25-Aug-08 - 10:35 PM
Thread Name: BS: Have you seen Obama's energy speech!
Subject: RE: BS: Have you seen Obama's energy speech!
"Do you think that some traders wait a week to read the news? "

That is apparently what you are implyng if you think Obama's "crackdown" on oil traders caused the price of crude to drop while Bush removed the Federal Ban on offshore drilling.

In case you missed it Mama, the price began falling at the time Bush spoke and continued falling to $128 in 1 weeks time.

Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking,