October 10, 2006


Oil Prices Slip Below $59 a Barrel (BRAD FOSS, 10/10/06, AP)

Oil prices sank to their lowest level in nearly eight months Tuesday as doubts mounted that OPEC is on the verge of slashing its output by almost 4 percent.

Analysts said the 1 million barrel a day cut sought by some members of the Organization of Petroleum Exporting Countries does not appear to have the support of Saudi Arabia, the cartel's largest producer, and is therefore unlikely to be implemented.

"This has been a complete disaster" for OPEC, said Michael Guido, director of commodity strategy at Societe Generale in New York. [...]

Prices could conceivably fall to $50 a barrel, Guido said, if economic growth slows and if the Northern Hemisphere winter is not particularly cold.

There's nothing that would tend to keep it at $50.

Posted by Orrin Judd at October 10, 2006 5:33 PM

Unless the current polls are way off the drop in oil (and in turn gas) won't be enough to help the GOP.

Posted by: AWW at October 10, 2006 7:27 PM

Foley who?

Foley gonna keep popping up like a Herpes Sore.

Posted by: Bruno at October 10, 2006 7:56 PM

I guess I'm the only one who's going to say it, so here goes:

The GOP will keep both House and Senate, with only a few losses each. And Voter Turnout will be around 28%.

Posted by: Brad S at October 10, 2006 8:07 PM

Bruno - GOP is in a tough spot re Foley. The correct thing to do with a scandal is address it and move on. However, given that there are Dem fingerprints all over it there will be the temptation by the GOP to keep talking about it in an attempt to drag the Dems into it as well.

Brad - I think the current polls are questionable and that the MSM and Dems are trying to affect the outcome by discouraging GOP/energizing the Dems. But I'm not ready to say the GOP will hold both yet. If the GOP is lucky it will be a repeat of '98 where the GOP gets the benefit of the economy and foreign policy and the scandals don't matter or even help the GOP

Posted by: AWW at October 10, 2006 9:44 PM

Some one on another blog pointed out the following interesting lines from a Washington Post article today - Poll Shows Strong Shift Of Support to Democrats

As bad as these findings are, they are not as bad as they were in the months before Democrats lost control of Congress in 1994. Congressional approval hit 18 percent in October of that year.

On another measure, 60 percent of those surveyed in the new poll said they approve of the performance of their own House member. That compares with 49 percent in an October 1994 poll.

Posted by: djs at October 10, 2006 10:53 PM


Is the WaPo trying to develop a record, so that they can CYA when the Dems come up short of the expectations that the same WaPo and other MSM have created for them?

This is what I say to Dems I know when they act like little schoolgirls at the GOP losing the House: You better win the House.

Posted by: Brad S at October 10, 2006 11:07 PM

Brad S.,

Don't know how or why that bit of information slipped past the editors, but if it's true what they say about all politics being local, maybe things aren't as bad for the GOP as they seem.

Posted by: djs at October 10, 2006 11:51 PM

Looks like the lefty polls, pols and media are whistling past the graveyard.

I think the Rovebot master is orchestrating the whole thing and has a spectacular finale planned to unfold right before the election.

Posted by: erp at October 11, 2006 7:20 AM