Oil prices have now dropped below $70 a barrel which is less than half of what they were in July and the silence from Congress and Fox News loudmouth Bill O’Reilly is deafening.

Back when oil prices were setting new records along with oil company profits the Democratically controlled congress wasted no time in calling oil company executives to testify as to why they were gouging the public.  The same goes for Bill O”Reilly who tried to ride some populist moral high horse and heaped scorn on more than one occasion as Exxon and other large oil companies wracked up horror of horror, record profits.  Imagine that, a business that is in business to make money actually practicing capitalism.

Now that oil prices have taken a nosedive and gas prices are dipping below $3 a gallon in many parts of the country, there is nary a peep from these dunderheads.  After all by their line of thinking if the oil companies can collude to forces prices up why can’t they put a floor on prices as well to prop up their profits?  Sounds criminal to me.

What the Democrats don’t understand and O’Reilly forgets is that this is the free market at work and we should leave it alone.  I own shares in Chevron and have watched as the stock zoomed to about $100 a share briefly this summer only to come crashing back down towards $60 as fears of a recession set in and the market panicked.  While I would rather recoup my lost paper profits I felt a great sense of satisfaction yesterday as I filled up the tank of my sedan yesterday and the total came to just under $40.  With the amount of driving that I do, this translates into a savings of several hundred dollars per year and I can take that to the bank.

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