Quote:
Originally posted by Shape Shifter
What about the energy traders?
"LONDON (Reuters) - Oil prices fell sharply on Monday on speculation that a U.S. election win for Senator John Kerry (news - web sites) could ease the geopolitical friction that has helped fuel this year's record-breaking rally.
. . .
" 'A Bush status quo results in somewhat higher oil prices both in the short and the longer term, in my view,' said Tim Evans, senior analyst at IFR Energy Services.
"PFC is forecasting an average U.S. crude price of $43 a barrel in 2005 should Kerry win, compared with $48 a barrel in the event Bush triumphed. It sees $52 on average in the first quarter 2005 under Bush compared with $45 under Kerry.
"PFC said a Bush win could stoke nervousness about U.S. policies in the oil-producing Middle East, while Kerry is seen as more likely to work through diplomatic channels.
"A Kerry victory could also mean more financing for renewable energy sources and trigger a push for tighter mileage standards for gas-guzzling sport utility vehicles. "
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The reason gas prices are high doesn't have to do with the situation in the middle east. It is a simple supply/demand issue. Demand from India and China has increased as they have become more industrialized.
No matter who is prez in the US, the days of cheap gas are over. It is not because of Iraq, but rather, because of China and India.
