{"id":30613,"date":"2008-10-14T01:01:01","date_gmt":"2011-05-19T03:15:19","guid":{"rendered":""},"modified":"2011-05-19T03:15:19","modified_gmt":"2011-05-19T03:15:19","slug":"rush_s_morning_update_oil_october_15_2008","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2008\/10\/14\/rush_s_morning_update_oil_october_15_2008\/","title":{"rendered":"Rush\u2019s Morning Update: Oil\r\n\r\nOctober 15, 2008"},"content":{"rendered":"
\n

<\/p>\n

Rush\u2019s Morning Update: Oil<\/strong><\/line>October 15, 2008<\/strong><\/strong><\/line><\/line>Watch It!<\/strong> <\/strong>Download Morning Update Video in QuickTime<\/a><\/line>Listen to It!<\/strong> Windows Media Player<\/strong><\/a>|RealPlayer<\/strong><\/a> <\/line><\/p>\n

In early summer,as crude oil was inching toward $150a barrel,I, El Rushbo,predicted thatthe “bubble” would burst — that oil prices would fall. At the time, legions of analysts were predicting the exact opposite; some even said that oil would reach 200 bucks a barrel.<\/p>\n

Well! This past week, Goldman Sachs– among the firms predicting the $200-a-barrel price– lowered<\/emphasize> their projections. They now estimate that by the end of the year, the price will hover between $70 and $115. Their analysts say that they “underestimated the depth and duration of the global financial crisis” and its impact on commodity prices. (They never saw it coming! Bunch of frauds!)<\/p>\n

Obviously, lower gas prices at the pump are welcome news,especially in light of the newfinancial strains the consumers are experiencing. Home values are still dropping, retirement portfolios are diminished, and food prices are still going up a little bit. <\/p>\n

Oil prices have fallen, but this isn\u2019t the time for complacency. Democrats are promising to reinstate the ban on oil drilling… after the November elections. And their environmentalist-wackobuddies– who laid low during the runup on oil prices– are preparing scores of new legal challenges to ensure we cannot drill,ban or no ban.<\/p>\n

Solet me give youanother prediction (I\u2019m good at this):If there is a President Obama, and more Democrats in Congress, you\u2019re going tosee the return of higher prices. The battle over oil– and the other forms of energy that we need to grow our economy– is not over by a long shot… and you can take thatto the government-owned bank of your choice. <\/p>\n

*Note: Links to content outside RushLimbaugh.com usually become inactive over time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush\u2019s Morning Update: OilOctober 15, 2008Watch It! Download Morning Update Video in QuickTimeListen to It! Windows Media Player|RealPlayer In early summer,as crude oil was inching toward $150a barrel,I, El Rushbo,predicted thatthe “bubble” would burst — that oil prices would fall. At the time, legions of analysts were predicting the exact opposite; some even said that […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nRush's Morning Update: Oil October 15, 2008 - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2008\/10\/14\/rush_s_morning_update_oil_october_15_2008\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Rush's Morning Update: Oil October 15, 2008 - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"Rush\u2019s Morning Update: OilOctober 15, 2008Watch It! 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