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A brief thought on gas prices and the election.

patrickbwayne

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Every Election gas prices seem to make their way into the focus of the Incumbent and the opposite party and their trumpets.

In 2008 it was the Democrats and MSNBC who continually blamed Bush for the rises in gas prices.
In 2012 it is the GOP and Fox who continually blame Obama for the rise in gas prices.

Every year.... and I mean every year from March to September the price of gas spikes as the nation gets out of the house and goes watching the scenery and visit their favorite camping spots.

Every year... one side claims the solution to higher gas prices is "DRILL MORE DOMESTICALLY". Usually it is the GOP refrain, but an occasionally a DEM will wade into the shallow end of that pool.

So I thought I would look at this whole situation from another angle.... Actual Gasoline production.

So here are a few charts from the US Energy Information Administration.

First US gasoline production:
gas production.jpg

Second US gasoline imports:
gasoline imports.jpg

Third US gasoline ending stocks:
ending stocks of gasoline.jpg

Obviously our ending stocks of gasoline have been declining for some time. And as anyone with even a basic economics understanding knows... lower supply increases price.
But where is all the gasoline going?

Finally US gasoline EXPORTS:
exports of gasoline.jpg

So ... Gasoline production is slowly increasing... imports are decreasing.... ending monthly stocks are dramatically decreasing.... and exports are dramatically increasing.


I wonder why gas prices go up :)
 
They ship it out to China. Business being what it is, the oil companies make more money by limiting the supply here. They produce, according to the graphs, 190,000 barrels each month and export about 20,000. Now if those 20,000 barrels stayed here, that would put a dent in prices, but that's not going to happen.

Gas prices in March of 2008 were about $3.27/ gallon. Today it's $3.86, so in reality gas prices have gone up about 60 cents in 4 years.

Sources: Gasoline prices gain nearly a penny - Mar. 28, 2008, Daily Fuel Gauge Report--national, state and local average prices for gasoline, diesel and E-85.

Here's this tidbit from March of '08

Regular was $3.152 on average at this time last month and $2.62 a year ago, according to the AAA

Gasoline prices gain nearly a penny - Mar. 28, 2008

From March 2007 to March 2008, it went up 65 cents per gallon in one year. From March 2008 to March 2012, it's gone up 60 cents in four. Looking at that, I can't imagine that prices would be much different if we were in the end of Bush's third term, or if McCain had won in '08. Possibly a few cents lower. Definitely not $2.00 or less.

Of course, Republicans are trying to make hay here the way Democrats were in 2008. But it's political house of straw (hay, straw...). There's no substance.
 
I wonder why gas prices go up :)

With the help of Republicans in the past 60+ years, the oil corps are free to manipulate the US market as much as they please since they own both production, transportation, refinement, delivery and end-user supply.

On top of that, add the insane $$ in tax breaks they get every hear for decades.

The factors of supply and demand on a global scale are not trivial, but for the US market, they are not the major factor in determining gas prices at the pump.

Even the adamant refusal of Republicans to implement fuel efficiency standards on SUVs has more effect on fuel prices than anything else.

By the way, your claim that in 2008 the Democrats blamed The Stupid for high gas prices is misleading on many levels. The Stupid may very well have affected gas prices by allowing secret meetings between the Energy Dept and Oil Corp and other Energy Execs to devise and implement national energy policies. That has nothing to do with what's going on now. The Obama administration is not a slave to oil and energy corps like The Stupid was.
 
Finally US gasoline EXPORTS:
View attachment 67124482

As the value of the international dollar declines (due to free trade), OIL companies in the US, drilling in the US, refining in the US, will find it more profitable to sell outside the US.

Think about it. Pretend it is Hyperinflation Germany of the 1930's, you own a coal mining company. Would you sell coal to German companies in exchange for Deutschmarks that will be useless in 1 week, or will you sell to a foreign nation where their cash actually has value?

Essentially we are becoming a colony, that produces raw materials for the mother country, of other world powers.

The only solution is Tariffs and the Republicans, Democrats, Libertarians, and Greens are against Tariffs. So enjoy the hell that's to come, it's your fault.
 
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how much is it per barrel now,cuz i know dring the oil height under bush we were paying then what we were now for gas but oil spiked at one point over $150 a barrel.

if anyone can give some average gas per barrel price now it would be helpfull.
 
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