Back during 2008, Congressional leaders were eager to call oil executives to testify before them because of the high price of gasoline, which was tied to the higher prices of oil.
On Sept. 17, President Barack Obama surprised a lot of people and announced he was pulling the mat out from under two Eastern European allies - Poland and the Czech Republic - when he decided not to go forward with a missile defense shield proposed during the previous Bush administration.
"President Obama reeling back the Bush administration's plans for a missile defense shield in Eastern Europe, instead opting for a new system he says is better equipped to fend off an Iranian threat," "Fast Money" host Melissa Lee said on her Sept. 17 show.
That decision combined with a decision for the United States to meet with Iran, as part of a summit of the United Nations Security Council plus Germany about their nuclear program on Oct. 1 could have an impact on the price of crude oil.
"Went long on a little bit of crude oil today when I read this story," "Fast Money" panelist Joe Terranova said. "The reason being, Oct. 1 the Iranians sit down with six other nations including the United States to discuss the Iranian situation."
According to Terranova, the decision to pull the missile defense shield could put an already tenuous situation between Iran and Israel even further on edge and, if history is any indication, that will send the price of crude oil higher in the long-run.
"I've got to think the Israelis are not too happy about that development, nor are they too happy today about the development with the Obama administration," Terranova said. "Good reason to be long oil - my opinion."
The price of oil has settled around $72 a barrel after rising from six-year lows earlier this year. Some experts are crediting a stronger dollar for the ease in prices, which have proven volatile if uncertainty in the Middle East arises.
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"President Obama reeling
September 18, 2009 - 10:26 ET by upcountrywater"President Obama reeling back the Bush administration's plans for a
missile defense shield in Eastern Europe, instead opting for a new
system he says is better equipped to fend off an Iranian threat,"
I get it! It's just another LIE. From the LIC.
Ok the only system that will do the job is some of our ICBM's landing at mach 25.
You know before the irans launch.
"The Emperor's New Shield"
September 18, 2009 - 12:08 ET by Ten7s"The Emperor's New Shield"
Not since Neville Chamberlain, have the Poles and Czechs been so brutally stabbed in the back.
Obama is an unmitigated DISASTER.
Fuel prices....
September 18, 2009 - 10:32 ET by adamsmithI said before the election that gas would be $6 a gallon by Thanksgiving, as the Obama administration had no energy policy, other than to provide GE with ways to scalp the American public...So far I'm a bit off, the only reason being the economy is so bad, we would tank as a country...and it would interfere with plans for total Socialism...
We should be drilling for our own oil while we multiply the nuclear energy program by at least four times...Energy independence is possible with the right people to make it happen.....
Obama's free love offer to
September 18, 2009 - 14:14 ET by dscottObama's free love offer to Russia is basically asking will you respect me in the morning. NOT!
http://hotair.com/ar...
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
Obama helps strengthen General Electric-Putin ties
September 18, 2009 - 10:48 ET by sic721"Shortly after the pullback on the shield programme was announced, Russia's government said Prime Minister Vladimir Putin would meet several U.S. executives on Friday from firms including General Electric..."
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obama-helps-strengthen-General-Electric-Putin-ties-59644627.html
wait
September 18, 2009 - 11:02 ET by jon_torlinIs that even legal?
-Jon
The question isn't relevant
September 18, 2009 - 14:13 ET by dscottThe question isn't relevant since GE is an Obama supporter. Never you mind how much they are going to make or who did the wink and the nod. The One can do no wrong. <sarcasm>
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
sarcasm works at times
September 18, 2009 - 18:22 ET by jon_torlinand I know I've dealt my share of it here, but that was a real question, because I honestly don't know, it doesn't sound legal.
Of course to respond to your comment, you're right, what do rules matter in ANY case let alone this.
I just figure it's just one more thing to add to the list of impeachable offenses that seem to grow by the day.
-Jon
Obama has to reward his
September 19, 2009 - 08:40 ET by dscottObama has to reward his campaign contributors so he has to set the ground for them to make money. It's called Corporatism. Yes, it is unseemly what is going on and the fact they are doing it out in the open speaks to the level corruption of the Dem led government. It's the Chicago way you know.
Obama will never be impeached as long as the Dems hold control over Congress, he has carte blanche as he is their puppet. Now all bets would be off it a terror attack should occur after this nonsense with the CIA. At that point, the Nancy and Harry would throw him under the bus to save themselves.
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
grrrrr
September 18, 2009 - 14:13 ET by Kekela WardI'm sure that GE has it's hands all over the new, yet to be developed technologies that the idiots new missle "plan" calls for.
Sam: "I hurt somebody's feelings once"
The enemy within hard at
September 18, 2009 - 16:09 ET by bigtimerThe enemy within hard at work.
What a mess we all are going to be in before they're through.
Getting spookier each day with the O/Soros-Team.
WE will be in such a fix with our own oil at a stand-still.
I despise the left...I've been angry for two days about the announcement from O and the missile defense BS.
'Go Green...Recycle Congress'
angry a lot longer
September 18, 2009 - 18:27 ET by jon_torlinI've been angry since Election Day once the results were in. I kept holding out hope that they'll prove his illegitimacy due to his dual citizenship by virtue of his British Subject father.
And to add to the target of your anger, I'm angry at the left too, but I'm even MORE angry at the American people who voted for him which include not just the left but those who claimed to be Republican unless it's those that are RINOs and the so-called independents. I say so-called because there are some nuts out there. Just like you have peanuts and cashews, you got a can of mixed nuts too.
-Jon
Obama is a Eunuch
September 18, 2009 - 23:04 ET by WesenI'm not sure this is the whole story.
Senator Inhofe spoke with Savage tonight saying that not only did we break an agreement with these people, we harmed our own Country. The missles to be placed there were the only ones that could interupt the second stage of a missile. By withdrawing the plan Barry removed a significant layer of protection for us. The alternate battery Hitlery speaks of can only intercept the third stage of flight. He seemed to feel Barry's action could possibly be blocked. We shall see.