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Thread: Bachmann: I'll get gas under $2

  1. #101
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    Re: Bachmann: I'll get gas under $2

    FWIW, the "crazy promises" began when Tim Pawlenty promised 5% per year real economic growth.

    The promise regarding the gas price is also completely unrealistic:

    1. In early 2009, the price of crude oil fell below $40 per barrel, finally bottoming out at $33.98 per barrel on February 12. Today's sluggish economy is not the same as the dramatic contraction that was underway at the time.

    2. Were economic growth to pick up, the price of crude and, therefore the gasoline price, would likely be higher than it currently is. Economic growth would lead to greater demand relative to production.

    3. Eliminating all of the 18.4 cent federal gasoline tax would also fall far short of bringing the gas price under $2 per gallon.

    4. Even if the U.S. were able to materially increase oil production, there is no indication that OPEC would stand by. In fact, given how OPEC has more aggressively managed the price of crude via its production quotas, there is probably very little prospect that OPEC would maintain production to the extent that crude oil inventories would swell. A collapse in the crude oil price is not in the interest of OPEC's countries, even as those countries are quite divided on a range of domestic and foreign policy issues.

    In short, Ms. Bachmann's promise is unrealistic.
    Last edited by donsutherland1; 08-18-11 at 08:01 AM.

  2. #102
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by PeteEU View Post
    OPEC has not been able to manipulate the price of oil for a very long time.

    The only way Bachmann can do this is by going after the speculators and banning companies like Goldman Sachs in holding oil in big ass tankers who are sitting around doing nothing. And even then it probably wont be enough. But I am guessing she want to drill everywhere in the US... although that takes 5+ years minimum before any oil comes out of the ground... so yes she is an idiot.
    This was also the arguement 5 years ago.

  3. #103
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by Proud South Korean View Post
    I saw this as oil as two dollars per barrel and thought Bachmann was really off her rockers right now, until I saw it as gas and thought 'Oh, it's just her old behavior'
    The only way for $2 a barrel would be for the world economy to completely collapse. Maybe she is the person for that job!


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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by rocket88 View Post
    The only way for $2 a barrel would be for the world economy to completely collapse. Maybe she is the person for that job!
    What are her economic policies that leads you to believe that?

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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by Taylor View Post
    A wise man once said, "trust, but verify"

    Gas Price Historical Price Charts - GasBuddy.com
    Of course when gas was $1.79/gallon, it looked like the whole banking system might collapse. Think there's a correlation?

    Is that what she's promising?


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    Re: Bachmann: I'll get gas under $2

    Yep, here we go:

    GDP growth:

    united-states-gdp-annual-growth-rate.jpg

    Compare with the gas prices. When GDP went in the toilet, gas prices sank. As GDP growth started going up, so did gas prices. It's not an exact correlation, but it's not hard to see that as a general rule, gas prices go up with economic growth. There was also a little something called the "Arab Spring." Think political instability in an oil rich area might have something do with it?

    I guess she must be promising negative economic growth and a return to the dictatorships in the ME. No thanks.


    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: Bachmann: I'll get gas under $2

    Quote Originally Posted by VanceMack View Post
    What are her economic policies that leads you to believe that?
    What are her economic policies to begin with?

    From her website:

    I will lead the way in cutting spending, reducing taxes and deep-sixing our 3.8 million-word Internal Revenue Code so companies can invest again. As a first order of business, I will direct the elimination of counterproductive regulations, repeal Obamacare and stop cap-and-trade in its tracks so companies can operate again. And a Bachmann Administration will create the climate of sound currency and certainty employers needed to start hiring again.
    Michele Bachmann for President | MicheleBachmann.com

    Blah Blah, same old empty rhetoric.

    As President, I will work to lift the restraints that keep America from energy security. I will fight to increase access to the billions of barrels of oil and trillions of feet of natural gas on the Outer Continental Shelf and reverse the Administration’s “permatorium” in the Gulf of Mexico. I will stop the Environmental Protection Agency’s cap-and-trade rules in their tracks, and end this “Job Killing Agency’s” threats against our rapidly growing domestic shale gas industry and the energy and manufacturing bonanza it is offering. And I will put a halt to the threat of higher taxes against the explorers and producers whose investments and innovations offer the best hope of bringing down prices and ensuring our energy independence.
    Michele Bachmann for President | MicheleBachmann.com


    I guess we'll just say that the things that lead me to believe that would be the same things that lead her to believe she can bring gas down to $2 with big economic growth.


    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.

  8. #108
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by Thunder View Post
    Fact: Medicaid recipients do not pay a dime for their medical coverage.
    That's not a fact. There are decreased premiums, copays, and prescription expenses involved in medicaid that still fall onto the recipient based on a sliding scale. You should really do research before you stay stupid things.
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by UtahBill View Post
    Shoes and bikes, those are the ultimate alternatives to gasoline.
    If you're within reasonable walking or riding distance from your destinations, in areas where walking and biking are safe. It isn't practical for a large number of people.
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by tessaesque View Post
    If you're within reasonable walking or riding distance from your destinations, in areas where walking and biking are safe. It isn't practical for a large number of people.
    But there are no other alternatives....gasoline and diesel are our transportation fuels, period. There are no other fuels that are as effective, as safe, as easy to transport, to deliver to the customer's fuel tanks.
    There are a few places on the planet that have alcohol as a primary fuel, like Brazil. And Iceland has so much geothermal energy available that it can use the electricity generated to make Hydrogen. The rest of the world is on its own.
    Besides shoes and bikes, planning your daily routine around the idea of minimizing driving our cars would be the most effective thing we can co now.
    That doesn't generate any fuel, it reduces the NEED to generate fuel...
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