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Bachmann: I'll get gas under $2

Oil is a global commodity. No amount of domestic drilling can stabilize gas prices below $2. No amount of deregulation, no amount of loss of environmental protections. Demand simply will not go down far enough, and OPEC wont allow that to happen.

The only way to do it would be to nationalize our oil companies or to otherwise end their free market options of selling to other countries, and to directly dictate price, and even then you've got the problem of figuring out how in the flying **** are you supposed to drill fast enough to cover domestic consumption. (because at that point, foreign oil companies would simply cease selling here)

People who think we can drill our way to that sort of price are just completely ignorant of the numbers behind this.

It's hilarious that someone like apdst can just handwave reports issued by people whose job it is to study this as "opinion." Talk about your head in the sand.
 
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rocket88 said:
Let the crazy promises begin!!

Bachmann: I'll get gas under $2 - Dan Berman and Molly Ball - POLITICO.com



How do you think that'll happen. Isn't oil freely traded? I guess you could nationalize the oil industry and regulate gas prices. That would be nothing like socialism...
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That comment was a serious blunder in judgment by Bachmann. It is only going to help cement her reputation as a lunatic, driving away the more rational people that might have otherwise given it a chance.

apdst's comments are to be expected. I guarantee you that within 48 hours, some Tea Partiers are going to claim Bachmann's "promise" as truth. And when the $2-gas claim gets swiftly and irrefutably debunked, they will find some way to sweep it under the rug and try to demonize those who bring it up again, just like they do for anything else of this nature. It's a shame, really. It's a shame that some people would ever support a candidate that talks and acts as she does. But that's present-day America for you.
 
Thunder said:
Fact: Medicaid recipients do not pay a dime for their medical coverage.
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Rubbish.

Recipients pay payroll taxes at the federal level and other taxes at the state level to fund Medicaid. Some states also require co-pays, deductibles, or other cost-sharing measures.
 
Nothing is certain. Politicians should promise, if at all, for action instead of results. A "this will happen when I am elected" campaign in silly and I doubt Bachmann is taking herself very seriously.

As for gas prices, sure we could allow for more domestic drilling, just don't expect it hit the market for at least five years. There really is no way to significantly lower gas prices in the short term without invoking government subsidies. In the long term, the cost of gas will not be lowered from the supply side but from the demand side. This can only be done through car manufacturers increasing their model's fuel economy (which they have done and are doing wonderfully) and by utilizing alternative energy sources, not making meaningless promises.
 
EarlzP said:
Now just think if China's demand for oil was eliminated not only would we see a huge increase on the supply side but our deficit problem would be resolved over nite.
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You can reduce their demand by strengthening the dollar, you don't need to blow them up.
 
EarlzP said:
If she released her plan to bring gas down to under $2.00 she would be a sho in for President, so why does she not just put it out their?
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Some might say she already presented her plan, given that she talked about it in a speech.

Her plan is to reduce the cost of gas. The rest is just details for Congress to work out.

Seems to pass for the current admin.
 
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VanceMack said:
“The day that the president became president gasoline was $1.79 a gallon. Look at what it is today,” she said at an event in Greenville, S.C.. “Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.”

So is that a fact? Did gas go up to over 4 dollars a gallon in some parts of the country in just the first few years of an Obama presidency? If it can climb $2 + in 2.5 years then why is it unfathomable to believe it can go back down 1.40? Didnt gas drop approx 50 cents a gallon recently triggered by nothing more than the release of strategic reserves?

Personally...I'd like to see the plan that backs up the promise.
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$1.79? at the pump outside the refinery perhaps... whats funny is probably not even.
 
VanceMack said:
Perhaps her plan is to allow for more ready access to the existing US oil fields that have been unused. Assuming she isnt advocating for nationalization (which is a pretty safe assumption considering her position on the expanded role of government) the only way she could influence greatly reduced gas prices is to increase supply or dramitically reduce demand. Might be interesting to actually know her plan.
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Her actual plan probably involves invading the middle east and praying to Jesus that America comes out owning all the oil fields.
 
Deuce said:
Oil is a global commodity. No amount of domestic drilling can stabilize gas prices below $2. No amount of deregulation, no amount of loss of environmental protections. Demand simply will not go down far enough, and OPEC wont allow that to happen.
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It would have an immediate (albiet smallish) effect on price if you buy into the futures/speculators thing. The biggest benefit would be money currently sent to Canada, Mexico, Saudi Arabia, and Venezuela would instead be pumped back into our own economy.

OPEC's role is overstated. They can influence the price, they certainly can't control it.
 
Thunder said:
this can only happen by either:

A: invading and conquering a oil-rich state, and STEALING all of their oil.

B: heavily subsidizing fuel costs in the USA.

so either Bachmann is claiming that she will be a tyrant or a Socialist.

which..is it?
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Or she could start a prayer group and pray for the price of gas to fall... Perry did it and prayed for rain. It eventually rained.
 
SE102 said:
$1.79? at the pump outside the refinery perhaps... whats funny is probably not even.
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The average price of a gallon across the US was even lower than that at the height of the recession. It was under $2.00 for several months.

She may not have to do anything for it to get there again; maybe the plan is to inherit it from Obama when he's done trying to spend our way into prosperity.
 
Taylor said:
Some might say she already presented her plan, given that she talked about it in a speech.

Her plan is to reduce the cost of gas. The rest is just details for Congress to work out.

Seems to pass for the current admin.
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Really?? The president has done every thing that he could do to keep the USA from collapse, he saved wall street and the f----ng banks,he saved the auto industry and the 2 million jobs that it supports, he has saved jobs on the state level though the stimilus program and continued the Bush tax cuts which were the republicans cry for job creation. It's a miracle that he was able to accomplish what he has with the GOP trying to block him or undermine him at every turn.

You can't have it both ways even though the GOP is trying to you either want the government creating jobs or you don't, if they want the government involved in job creation they should crawl out of the way and let him do what he needs to do including spend spend spend it's going to take investment on some ones part to create job growth if the private sector does not want to then the government needs to get involved, I think nationalizing the oil companies would be a great place to start
 
Taylor said:
The average price of a gallon across the US was even lower than that at the height of the recession. It was under $2.00 for several months.

She may not have to do anything for it to get there again; maybe the plan is to inherit it from Obama when he's done trying to spend our way into prosperity.
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Fair enough, I trust what you say. Though I remember an Iran nuclear crisis shooting gas prices up at some point.
As for the bold Im going to have to issue a skepticism smiley or two... and place some internet betting. :\ :S
 
I'll get gas under $1, if I am elected president. Vote for me.
 
SE102 said:
As for the bold Im going to have to issue a skepticism smiley or two... and place some internet betting. :\ :S
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That's economics for you, a lot of educated guesses and betting on outcomes. :)
 
EarlzP said:
Really?? The president has done every thing that he could do to keep the USA from collapse, he saved wall street and the f----ng banks,he saved the auto industry and the 2 million jobs that it supports, he has saved jobs on the state level though the stimilus program and continued the Bush tax cuts which were the republicans cry for job creation. It's a miracle that he was able to accomplish what he has with the GOP trying to block him or undermine him at every turn.
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How soon they forget. Obama and the Dems had near 60% of the House and was just two shy of a supermajority in the Senate. The GOP had very little say in anything that got done in those first two years. The only reason they're back in power right now is because independent voters decided that "every thing Obama could do to keep the USA from collapse" was killing us.
 
Taylor said:
How soon they forget. Obama and the Dems had near 60% of the House and was just two shy of a supermajority in the Senate. The GOP had very little say in anything that got done in those first two years. The only reason they're back in power right now is because independent voters decided that "every thing Obama could do to keep the USA from collapse" was killing us.
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The reason that the GOP is back in power is that President Obama tried to hard to pacify a bunch of whining bought and paid for carpet baggers disguised as republicans
 
EarlzP said:
The reason that the GOP is back in power is that President Obama tried to hard to pacify a bunch of whining bought and paid for carpet baggers disguised as republicans
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...and then there's what actually happpened.
 
Jetboogieman said:
Pfffffffffft.

OPEC likes the fact that gas is as high as it is, and if they could have it their way, it'd be higher. They're never gonna let it go that low again.

And if it did happen, we'd see a few investors doing the following thing.
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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.
 
Statements like this are what will assure we will never have a President Bachman
 
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'
 
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