There's full blown war in Georgia, major oil pipeline right in the middle, and oil price goes down?

There is a major oil pipeline running right smack through Georgia (Baku-Tbilisi-Ceyhan pipeline) and there seems to be a full blown war in Georgia.





Yet, today the price of a barrel of oil actually fell 75 cents to about $115 a barrel from a high of almost $150 a barrel just a month ago.





Just a month or two ago, it seemed that a cab driver anywhere in the middle east could fart and the price of a barrel of oil would jump up two bucks.





I smell a rat. What gives?There's full blown war in Georgia, major oil pipeline right in the middle, and oil price goes down?
Something is rotten in Denmark. This is the kind of news that only two moths ago would have shot prices up overnight twenty bucks a barrel for openers. It's election time and the people who control the oil are mostly republicans, and now is not a good time for Senator McCain and the GOP to have oil prices rising. This whole oil thing reminds me very much of the early seventies, another man-made oil crisis that most of the world is suffering from while a select few are making obscene amounts of money. It's nothing but a giant scam played on the people of the world by the few.There's full blown war in Georgia, major oil pipeline right in the middle, and oil price goes down?
Shows you how ridiculously inflated the price of oil was. Also, I believe investors are worried that Congress will allow offshore drilling and that if investors keep the prices too high for too long then people really will work even harder to not drive, find other energy sources, and get more oil. Also there is less demand from consumers since the prices have been so high.
I heard a lot of investors (people who buy oil commodities strictly as a financial vehicle, not to actual do anything with the oil itself) originally bought oil as a hedge against a weak dollar, and a lot of them are dumping their oil contracts now, fearing that the speculative bubble is ready to burst - hence the drop in price.





The astronomical rise in price was completely disproportionate to supply and demand, so the corresponding fall, not surprisingly, is also unrelated.
Well, first of all, we don't import a great deal of oil from Georgia, in fact http://tonto.eia.doe.gov/dnav/pet/hist/m鈥?/a> shows only 1,100 barrels. As for a rat, yes and he is munching on government cheese in our own white house.
The price of oil is dependant on one thing: The level of greed among the powerful players in the oil industry. This is just another blemish on the Bush administration for allowing it to happen.
Oil down when oil should be up tells us the bad guys are keeping the price of oil down because they do not people to realize Georgia is about stealing the Caspian Sea oil.
People using less and doing without are driving the price down faster than possible non production from that pipeline driving them up.
Lets see what the oil price is in two weeks.