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Thread: Gas prices are highest ever for this time of year

  1. #171
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    When Bush opened the spigots prices plummeted? Do you have a link to this? We were filling the reserves as the prices were rising.

    The recession caused oil to plummet.
    The way I remember it Bush said he was going to open up huge areas to drilling and the price of oil fell like a rock. Maybe tonight I will try to verify it but I have to get ready for work now, I am still TRYING too retire, no luck yet.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sawyerloggingon View Post
    The way I remember it Bush said he was going to open up huge areas to drilling and the price of oil fell like a rock. Maybe tonight I will try to verify it but I have to get ready for work now, I am still TRYING too retire, no luck yet.
    You are misremembering.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sawyerloggingon View Post
    I don't know where you got that number, all I can find is obama is finally letting some of the rigs he shut down in the gulf reopen. Maybe you are confusing the number of exploration permits obama has handed out in a smoke and mirrors attempt to show he isn't anti oil so he can get reelected. The truth is he has shut down huge areas to actually drilling since he came to power.

    Archived-Articles: Obama Nixes Safe Drilling
    NO.. they were DEEPWATER drilling permits.. and you can check the AJC or Wall Street journal or Washingotn Post for verification.

    BP was playing games with safety audits.. farming them out piecemeal all over the US with NO integrated reporting system.... so accountability wouldn't come back on them.

    When that was fixed last March or April, drillers first came out saying that safety regs and compliance would cost them another $5 a barrel in lift costs... by early fall they changed their tunes and applied for deepwater permits.

    You are a little bit stuck in your failure to face that oil companies DON'T INVEST in development unless the ppb is high.

    PS.... American Thinker is a lousy source for anything.. they are like World Net Daily...

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    Re: Gas prices are highest ever for this time of year

    "Once Again, Speculators Behind Sharply Rising Oil and Gasoline Prices"

    Once Again, Speculators Behind Sharply Rising Oil and Gasoline Prices | Truthout

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    Re: Gas prices are highest ever for this time of year

    gas is up 40 cents in about two days here.

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    Re: Gas prices are highest ever for this time of year

    Remember: Gas prices go up in 2005 - not Bush's fault. They go up in 2012 - definitely Obama's fault.

    Can't make this up. There's hack reasoning for you.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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    Re: Gas prices are highest ever for this time of year

    Had a minute and found this

    Some people argue that allowing more domestic offshore drilling would have little impact on oil prices. It is true that oil is a global commodity; however, after President Bush lifted the executive moratorium on July 14, 2008, and after Speaker Nancy Pelosi announced on September 23, 2008 that Congress would allow the congressional moratorium to expire, there were immediate price decreases. This is illustrated by the chart below:

    Bush-Oil-Drop-Speech.jpg


    Economic theory predicts that the potential for greater future oil production should lead to price relief. It is true that lifting the moratorium could not immediately increase oil production from the affected areas, but other oil producers with excess capacity, such as Organization of Petroleum Exporting Countries (OPEC) nations, would have an incentive to produce more in the present once they believe that future U.S. output will be higher. This example from 2008 is one example of oil price relief because of potential future oil production.


    Institute for Energy Research | Why Are Gas Prices So High?

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sawyerloggingon View Post
    but other oil producers with excess capacity, such as Organization of Petroleum Exporting Countries (OPEC) nations, would have an incentive to produce more in the present once they believe that future U.S. output will be higher. This example from 2008 is one example of oil price relief because of potential future oil production.
    That seems counter-intuitive. I would think that increased production in the US would lead to OPEC countries producing a lot less to try to keep the price as high as they can. Right now, the United States is a net exporter of gasoline. Meaning that oil companies have found it cheaper to bring the oil here to refine it, then ship it back out.

    U.S. On Pace To Become Net Fuel Exporter Despite High Gasoline Prices At Home | Fox News (There, it's even a link to Fox so you can't bitch about the source)

    So it would seem to me that while increased oil production would result in slightly lower prices, what's happening is that the gasoline that is produced here is put back on tankers and taken out. Now if that were to stop, we'd see a big drop in gasoline prices here because there'd be more gasoline. I assume that most of us are on the same page that regulating that is not something we want to do. Given that, what it seems to me would happen is that the Saudis and Russians would curtail production. We'd see some price relief due to lower transportation costs of the crude oil, but worldwide net oil production would stabilize about where it is, and the relief at the pump would be a lot less than you'd hope.

    Besides which, prices are going to go up in the next 50 years or so simply due to there being a lot less oil, regardless of who drills it.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
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  9. #179
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by DaveFagan View Post
    "Once Again, Speculators Behind Sharply Rising Oil and Gasoline Prices"

    Once Again, Speculators Behind Sharply Rising Oil and Gasoline Prices | Truthout
    As a society we REALLY need to address what I call "dog in the manger with a cash register" speculation. The kind that does nothing but generate a profit by artificially limiting supply. This was a HUGE factor in skyrocketing home prices here in San Diego.

    Why should anybody create a job when fortunes can be made through simple fiscal masturbation?
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

  10. #180
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sawyerloggingon View Post
    Quote Originally Posted by Karl View Post
    Quote Originally Posted by sawyerloggingon, replying to another View Post
    I agree that obama will open up the strategic reserves in a purely political move but I would be interested to know how you think oil company's can control the price of oil.
    Well duh... whoever controls the flow oil controls the price of oil [...]
    Theres a little group called OPEC that controls the flow of oil, the oil comps buy all they can all the time. I can't believe I am responding to a poster that starts out with "Well duh".
    Considering that this is a thread about domestic gasoline prices, I have one question for you: Who controls the domestic flow of oil?
    (including the flow to and through refineries)

    A. OPEC
    B. Domestic oil companies
    C. Rick Santorum
    D. Blue

    Duh

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