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Gas prices are highest ever for this time of year

Speculation is the norm in asset markets; there is nothing artificial about it! Asymmetric information exists, and i have no doubt that people can and do exploit it. However, market manipulation in commodity and equity markets is certainly not the norm.

As long as we have agreed that $145 was artificial.
 
And of course a significant part of the Dodd-Frank financial reform bill is aimed at curbing just such speculation. Is that why Republicans are so dead set against it?

It does no such thing.
 
Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.
 
Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.

Domestic US oil production is higher than it has been in 40 years..

BECAUSE.. the ppb is high.
 
Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.

Obama seized power? How did I miss the coup? :lol:

Gas prices have mostly been going up because the economy has been recovering and demand has therefore been rising. I suppose he could follow the Bush formula for lowering gas prices, i.e. destroy the world's economy, but I wouldn't recommend it.
 
Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.

Please, tell me how Obama "seized power." And can you provide any proof of these "anti-oil policies?"
 
Obama seized power? How did I miss the coup? :lol:

Gas prices have mostly been going up because the economy has been recovering and demand has therefore been rising. I suppose he could follow the Bush formula for lowering gas prices, i.e. destroy the world's economy, but I wouldn't recommend it.


Its not a demand problem. Its an infrastructure problem.

This Week In Petroleum
 
Obama has talked about getting the US off our oil dependency but it's a slow process that in the short run will drive up prices. Trying to protect the environment against domestic offshore and the Keystone type pipelines is costing us some valuable oil resources though it's still a small percentage of our total daily use. But trust me fighting the oil industry for alternative energy sources is going to be the real battle because they don't want to lose their profit machine and their reach goes far into the halls of power worldwide. There's no easy solution because too much infrastructure and economic stimulation are oil driven, whereas an alternative like recharging batteries makes very little impact in comparison. And as long as viable electric vehicles are priced out of reach for a weak economy and average consumer there won't be a change.

Even if every auto manufacturer offered a couple of nice $12-19k electric compacts, hatchbacks, small sedans and mini SUV's, saving trips to the gas station it would still take 10-15 years for people to completely cycle out of fuel driven vehicles. Until then expect to start getting raped at the gas stations in the future as the fight for oil reserve's begins to really intensify.
 
Obama has talked about getting the US off our oil dependency but it's a slow process that in the short run will drive up prices. Trying to protect the environment against domestic offshore and the Keystone type pipelines is costing us some valuable oil resources though it's still a small percentage of our total daily use. But trust me fighting the oil industry for alternative energy sources is going to be the real battle because they don't want to lose their profit machine and their reach goes far into the halls of power worldwide. There's no easy solution because too much infrastructure and economic stimulation are oil driven, whereas an alternative like recharging batteries makes very little impact in comparison. And as long as viable electric vehicles are priced out of reach for a weak economy and average consumer there won't be a change.

Even if every auto manufacturer offered a couple of nice $12-19k electric compacts, hatchbacks, small sedans and mini SUV's, saving trips to the gas station it would still take 10-15 years for people to completely cycle out of fuel driven vehicles. Until then expect to start getting raped at the gas stations in the future as the fight for oil reserve's begins to really intensify.

The oil industry will become the alternative energy industry when oil starts to run out. Or did you think they would just fold? Also, please read the previous link, as it will show that production isn't down, and demand isn't up, so "Obama's policies" on oil use/production isn't causing the price hike.

Right now, there isn't a market for an alternative to oil on a profitable scale. That's why we've seen plenty of "green" bankruptcies and the tanking of electric cars(Leaf, Volt). There isn't money to be made in that realm despite the government's best effort at subsidizing the sector. The tech just isn't ready for mass production and consumption.

On top of that, our infrastructure isn't ready for a spike in electrical demand. We are shuttering coal fired power plants left and right, shifting their production to existing facilities, pushing the limits of production. Until we can increase our electrical production, develop better electrical storage facilities on both a small footprint and large, we aren't ready for non-fuel driven vehicles.
 
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Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.

If his "Anti oil" policies were the only problem, oil wouldn't have went to $145 under Bush.
 
Obama seized power? How did I miss the coup? :lol:

Gas prices have mostly been going up because the economy has been recovering and demand has therefore been rising. I suppose he could follow the Bush formula for lowering gas prices, i.e. destroy the world's economy, but I wouldn't recommend it.

That is the formula rising oil prices are going to lead us to.
 
Obama has talked about getting the US off our oil dependency but it's a slow process that in the short run will drive up prices.

There is absolutely no reason we must take an either/or position.

The oil industry will become the alternative energy industry when oil starts to run out. Or did you think they would just fold? Also, please read the previous link, as it will show that production isn't down, and demand isn't up, so "Obama's policies" on oil use/production isn't causing the price hike.

There is no reason why we have to wait until oil runs out.
 
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You can't fix stupid

Unfortunately you righties have a serious problem there. The candidates you're running out there personify it.

Still, independents are freaking out over your abortion of a president, so I wouldn't count your chickens before they come home to roost, as your beloved Reverend Wright would say.

4 more years. Chew on that.
 
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Domestic oil production is HIGHER than it has been in 40 years because the ppb is high..
 
I think I was pretty clear. Obama = Bush. When it comes to wanting to attack other countries, it seems they are one in the same. It would be clear to you IMO if Bush was doing this.

Poor Perry, he's still trying to paint Obama as Bush. Hilarious. How's your Tea Party working out for you Perry?
 
The oil industry will become the alternative energy industry when oil starts to run out. Or did you think they would just fold? Also, please read the previous link, as it will show that production isn't down, and demand isn't up, so "Obama's policies" on oil use/production isn't causing the price hike.

Right now, there isn't a market for an alternative to oil on a profitable scale. That's why we've seen plenty of "green" bankruptcies and the tanking of electric cars(Leaf, Volt). There isn't money to be made in that realm despite the government's best effort at subsidizing the sector. The tech just isn't ready for mass production and consumption.

On top of that, our infrastructure isn't ready for a spike in electrical demand. We are shuttering coal fired power plants left and right, shifting their production to existing facilities, pushing the limits of production. Until we can increase our electrical production, develop better electrical storage facilities on both a small footprint and large, we aren't ready for non-fuel driven vehicles.

The oil reserves are many years from being depleted but our ability to keep up with production, refining (no new refineries in 30yrs), shipping and competing for those sources will drive up prices. Hydraulic fracking, shale/sand refining, sideways, ocean and deep well drilling, transportation/storage all are driving up costs, not including geopolitical strategies involving the ME. No I don't believe Obama's policies alone are driving up prices, though they do have an effect on the mindset of investors who do affect the markets controlling prices. Demand will ultimately also affect costs where our economy literally thrives off consumption.

The only realistic alternative to oil is electric right now, unless some sort of new cheap renewable source like hydrogen becomes available. And a few solar panels per house would solve any extra energy drain from the grid. The tech has been ready but fiscal and political roadblocks are produced to reduce interest in change because too much money is made with the status quo.
 
Domestic oil production is HIGHER than it has been in 40 years because the ppb is high..

We have such an abundance of oil and gas that oil companies are exporting them in record numbers, thereby decreasing our supply and causing the price to increase.
 
The oil industry will become the alternative energy industry when oil starts to run out.

I'm not sure how that makes sense. Would you explain?

Right now, there isn't a market for an alternative to oil on a profitable scale. That's why we've seen plenty of "green" bankruptcies and the tanking of electric cars(Leaf, Volt). There isn't money to be made in that realm despite the government's best effort at subsidizing the sector. The tech just isn't ready for mass production and consumption.

For real? Have a look at this...

But Volt sales (like the Nissan Leaf's) are still limited by short supply, not lack of demand. There are waiting lists for both.

"Volts are being sold as quickly as they arrive," a GM spokesperson added. "We remain on target to sell every one of the 10,000 units we will build this year for U.S. consumers. Demand continues to significantly outstrip supply, [and] we expect demand to exceed supply for most, if not all, of the 2012 model year."

An amazing 97 percent of Volt owners say they are "completely" or "very" satisfied, while the other three percent are merely "satisfied." They report driving more than 1,000 miles (or about 30 days), on average, before refilling their gas tanks, and that two-thirds of those miles are on electric "grid" power. Nearly 90 percent of those who traded in vehicles for a 2011 Volt traded non-GM cars and are new to Chevrolet, and 35 percent considered no other vehicle.
Chevy Volt sales: What's the real story?
 
If you believe there should be limits, you make it the law. Secondly, look at the markets. Nothing has changed.

Yes, that is what they tried to do. Unfortunately it was watered down as a result of a massive lobbying effort and Republican opposition.

The markets aren't *just* influenced by speculation. They are still primarily driven by supply and demand.
 
Yes, that is what they tried to do. Unfortunately it was watered down as a result of a massive lobbying effort and Republican opposition.

They had more than enough votes.

The markets aren't *just* influenced by speculation. They are still primarily driven by supply and demand.

I'm not argueing it's all speculation. I never have.
 
We have such an abundance of oil and gas that oil companies are exporting them in record numbers, thereby decreasing our supply and causing the price to increase.

I think (to put it simply) they just sell it at the global market, which is where we also buy most of ours. Just because we drill here doesn't it make it all ours, right? We haven't nationalized all our energies.
 
Just because we drill here doesn't it make it all ours, right? We haven't nationalized all our energies.

No, but it punches holes in the GOP theory that if we just build more refineries here, gas prices will go down.
 
No, but it punches holes in the GOP theory that if we just build more refineries here, gas prices will go down.

Everything politicians say are at least partial lies. If you cornered them on it they'd hide behind the fact that, yes, technically increasing production leads to increases in supply leads to comparatively cheaper petrol. Eventually.

I'm no oil expert but I have to assume since multinational corporations do our oil extracting that ramping up extraction just feeds global demand and impacts things like trade deficits more than what we ultimately pay at the pump. It's not like we extract 87 octane from the earth and plop it into our own corner gas stations...
 
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