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Gas prices set record: 1,000 days above $3 a gallon

It is high employment, booming industry and people with money to spend that makes oil go up, supply and demand. As the demand grows traders bid the price of oil up.
So then we must have a booming industry, high employment and people with money to spend which has made gas the price it currently is. So are you going to thank Obama for such a great economy then?
 
Yes, we were booming all right under Bush when gas prices rose over $4, we had unemployment rising, jobs loss rising. But according to you that was booming. Sorry, history shows you are wrong.

When oil went up under Bush the economy was booming with 4.2% unemployment. When the economy crashed gas prices plummeted to $2.50 a gallon. That is the natural order of things. Since Obama took over gas prices rose exponentially as the economy sputters, that is due to his anti oil presidency.
 
So then we must have a booming industry, high employment and people with money to spend which has made gas the price it currently is. So are you going to thank Obama for such a great economy then?

Obama's anti oil policies have created an artificial supply and demand imbalance.
 
See, I read the chart and see $1.43 after Bush's first four years and it going up steadily until the economy crashed. I must be reading this wrong because it doesn't explain how that $4.12 in July of '08 is Obama's fault.

A review of the chart shows that only for a brief period on two separate occations did a gallon of gas sell for the same amount it has been selling at for the last 1,000 days.

The other posters fixation on saving face can't hide the fact that their statement was patently false.

Now, do I think Presidents can effect gasoline prices? Yes, to a point. Certainly they can have an impact, as evidenced by releases from the Strategic Reserve, but on the whole, no, no real impact.

However, the depiction in the media is as blatently biased as anything they have done. During Bush's Presidency, it was common to see network reports from gas stations around the country where "random" motorists would be interviewed and shown to be blaming Bush for the high prices. This meme ran for weeks while the prices spiked.

Today, the meme from the MSM, and the troops on the left is "the President can't control gas prices".

Hey, that's the way it goes. If continued elimination of any credibility is the goal, it's being achieved admirably.
 
When oil went up under Bush the economy was booming with 4.2% unemployment. When the economy crashed gas prices plummeted to $2.50 a gallon. That is the natural order of things. Since Obama took over gas prices rose exponentially as the economy sputters, that is due to his anti oil presidency.

If the government were to allow more oil drilling the prices would begin going down because oil futures would drop. But of course Barrack Obama doesn't want oil prices to come down because he has a sort of a plan.

Mitt Romney's plan for North American energy self sufficiency was far sighted and wise, which is why it was rejected by the majority of the electorate.
 
So then we must have a booming industry, high employment and people with money to spend which has made gas the price it currently is. So are you going to thank Obama for such a great economy then?

China and the East are buying more oil ..... market demand changes.
 


"The new normal" eh? Who says this has to be? Obama? Look, his policies are hurting the middle, and poor. Why should we continue to take this without making him account for it? I am tired of not having enough money to even go out to dinner anymore. All because Obama wants to break the system.

Keep going progressives, send yourselves into political obscurity for another 100 years. :2wave:


The way I see this is that oil is not a part of a free market economy driven by supply and demand. Big crash in 2008 and energy demand dropped 30% and still has not recovered. Why did oil prices manage to stay high? Must not be about supply and demand, but collusion and conspiracy, eh?
 
The way I see this is that oil is not a part of a free market economy driven by supply and demand. Big crash in 2008 and energy demand dropped 30% and still has not recovered. Why did oil prices manage to stay high? Must not be about supply and demand, but collusion and conspiracy, eh?

It has to do with expanding markets in the East...
 
It has to do with expanding markets in the East...

The biggest US buyer of energy would be the Pentagon and with both Iraq and Afghanistan on the back burner, demand had to drop and prices should have dropped. I didn't see any drop, did you. Now a little conflagration in Syria will pop demand, don't you think?
 
The biggest US buyer of energy would be the Pentagon and with both Iraq and Afghanistan on the back burner, demand had to drop and prices should have dropped. I didn't see any drop, did you. Now a little conflagration in Syria will pop demand, don't you think?

Syria produces very little oil.

Market demand has increased in the East....
 
Speculators tend to look at the Middle East overall.

Saudi Arabia sell a lot of oil to Chiina.. and that is increasing steadily.
 
A review of the chart shows that only for a brief period on two separate occations did a gallon of gas sell for the same amount it has been selling at for the last 1,000 days.

The other posters fixation on saving face can't hide the fact that their statement was patently false.

Now, do I think Presidents can effect gasoline prices? Yes, to a point. Certainly they can have an impact, as evidenced by releases from the Strategic Reserve, but on the whole, no, no real impact.

However, the depiction in the media is as blatently biased as anything they have done. During Bush's Presidency, it was common to see network reports from gas stations around the country where "random" motorists would be interviewed and shown to be blaming Bush for the high prices. This meme ran for weeks while the prices spiked.

Today, the meme from the MSM, and the troops on the left is "the President can't control gas prices".

Hey, that's the way it goes. If continued elimination of any credibility is the goal, it's being achieved admirably.

Media aside, no real impact as you said.
 
Media aside, no real impact as you said.

Be careful how you want to define "real impact".

The fact is, gasoline will never drop as low as it once was. It's a finite resource that will get more costly as time goes by. I also believe the Fed will soon be increasing the Fed gasoline tax by at least 100% to offset the lost revenue brought about by the big increases in fuel efficiency.

Also, the Feds are going to have to find a way to tax drivers of electric vehicles, since they are paying little to nothing to help maintain roadways.

The country will become accustomed to these high gas prices, unfortunately it will be at the expense of the poor and other working families who are being left further behind due to expanding government regulations.
 
Be careful how you want to define "real impact".

The fact is, gasoline will never drop as low as it once was. It's a finite resource that will get more costly as time goes by. I also believe the Fed will soon be increasing the Fed gasoline tax by at least 100% to offset the lost revenue brought about by the big increases in fuel efficiency.

Also, the Feds are going to have to find a way to tax drivers of electric vehicles, since they are paying little to nothing to help maintain roadways.

The country will become accustomed to these high gas prices, unfortunately it will be at the expense of the poor and other working families who are being left further behind due to expanding government regulations.

You're absolutely right, it will never drop as low as it was. Gasoline is a different commodity than crude oil. As long as the refiners make more money shipping a large portion of it off to China, they will. If all the gasoline produced here stayed here, the price would go down significantly. The oil companies will do whatever makes them more money, that's business.
 
You're absolutely right, it will never drop as low as it was. Gasoline is a different commodity than crude oil. As long as the refiners make more money shipping a large portion of it off to China, they will. If all the gasoline produced here stayed here, the price would go down significantly. The oil companies will do whatever makes them more money, that's business.

Energy companies have a fiduciary duty to their stock holders, many of whom are the large pensions funds that depend on their dividends to fund benefits payments. In addition to generating revenue, they must continue to explore for more oil, and prepare for the day they transition to new forms of condensed energy they can sell.

Our future energy needs will almost certainly come from Hydrogen Fuel Cell technology, of which the energy companies will continue to play a central role. Such a transition will take a significant investment on the part of these companies, which the current profits are providing revenue to support.
 
Right, because we should hold Obama accountable for OPEC right?

We certainly can hold him accountable for trying to start more unjust wars in the ME and keeping this country dependent upon foreign oil

We should be fracking here and becoming energy independent. Instead our economy is held hostage by radical eco extremist wackos pushing lies and scams like Global Warming and electric cars

ND posts record annual oil production again - Yahoo Finance
 
Ok, then please explain to me why they will charge less for gas when they know they will get the present level?

Supply and demand for one, increase supply and you change the equation. Then there is the psychology of commodity traders, if they see fed lands being opened up to drilling and see more oil coming in the future they will bid the price of oil down.
 
It's hard to get all worked up over the coal being sold on the open market. Are you saying we should nationalize the coal industry? That's not socialistic at all :lamo
You ask me what I'm saying? Can't you read what Im saying rather than guessing?
 
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