Oil prices have fallen to just over $85 a barrel

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Oil prices continue to fall – now dropping to just over $85 a barrel – the lowest price of the year so far. The price drop might have to do with oil speculators selling off their futures contracts – since as much as $14 of every tank of gas in America is a result of banksters speculating on Wall Street.

Those suffering the most from falling oil prices are Republicans who’ve been trying to pin rising gas prices on something President Obama is doing despite the fact that the President has increased domestic drilling and reduced dependence on foreign oil each year he’s been in office. Now that gas prices are falling – let’s see if Republicans are as quick to give the President credit as they were to fault him when they were rising.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 10:59 am


I haven't filled my tank in three months. I guess I'll be able to fill it again soon.

But it's been nice walking and riding my bicycle. I'm discovering there's a real world outside that safe little metal cocoon... or is it a coffin?

.ren's picture
Apr. 1, 2010 7:50 am

it doesn't matter. The oil companies still keep prices high by restricting refinery output.

May. 8, 2012 12:06 pm

$85 a barrel? I see $96.

Jul. 31, 2007 4:01 pm

Income Inequality Has Gone Up

The chairman of the White House Council of Economic Advisers, Jason Furman, recently wrote in the Washington Post that "Last year saw the largest single-year reduction in poverty since the 1960s."

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