Successful Oil campaign

A "4th of July 2008" campaign of the Presidents Club has led to 200,000 barrels per day increased oil production by the Saudi's, plus an investigation of potential price fixing conducted by the CFTC. The slogan for this campaign was "Enough is Enough". The Saudi's increased oil production by 300,000 barrels per day in June, plus an additional 200,000 barrels per day in July 2008. http://www.cbsnews.com/stories/2008/06/14/world/main4181473.shtml

At the close of the Presidents Club campaign, a celebration party was held at the Executive Inn and Suites hotel in Tucson Arizona, on the 4th of July, 2008.

After our oil campaign succeeded, the commodity market price for crude oil has dropped by more than $60 per barrel, at least temporarily (or perhaps permanently). The commodity market price of oil on July 4, 2008 was $145/barrel; and on July 31 it was $124/barrel. Early in September 2008, the price of oil dropped to $105 per barrel. Early in October 2008, the price of oil dropped below $85 per barrel and continued declining.

Since the US currently imports 13 million barrels of crude oil per day, a price reduction of $60 per barrel of crude oil saves the US $780 million per day (through reduced import costs).

In November 2008, after the price of oil had dropped to $50/barrel, OPEC announced that it desired to stabilize the price of oil in the range of $70 to $90 per barrel. ( http://en.rian.ru/world/20081114/118313140.html )