Aren't sanctions just wonderful? As our Gas prices rise to the $4 mark for this spring/summer, (when this happened to Bush, demo's were in the streets in front of camera's) this can NOT bode well for Obama in an election year.
j-mac
J-mac. Cut the partisan **** out.
I've been dealing with idiots on this forum since I got back and I have no patience anymore.
1) If Obama did not put sanctions on Iran you'd be all over him for being weak. No one with a functioning brain is going to dispute this.
2) Sanctions are directly causing oil prices to rise, coupled with the change in spring/summer blends that always result in higher prices during spring/summer.
3) The economy is coming back putting additional pressure on world oil prices.
You are getting angry at Obama for the economy improving.
You simply do not understand oil or economics enough to realize this.
4) Keystone would not affect oil prices in any meaningful way as it's not an increase in aggregate production. It merely moves the oil around to refineries. Crude prices should not move either way with its construction or lack of construction. Refined prices may slightly change but they are far more dependent on crude base price and aggregate demand.
5) Increasing economic wealth in India, Brazil, China and Russia are increasing global demand for oil. Obama is hardly responsible for any of that. So unless you want him to declare war on those 4 countries and bomb them back into the stone ago so they stop using oil, please cease and desist with your partisan hackery.
6) If Obama ordered a strike on Iran, oil would be at $8 a gallon.
7) Iran selling more to China will actually reduce income to Iran as China is squeezing Iran because it can.
8) Iran does not want higher oil prices for the same reason OPEC is adamant about preventing oil from rising materially above $100. Higher prices may substitutes competitive and OPEC digs its own grave.
9) The US would need to tap every single oil/gas resource we have to reduce oil prices assuming that world aggregate daily demand
does not change which is a unrealistic assumption considering the growth in the Middle Class across the planet. And as the US increases supply, OPEC will reduce supply to keep oil at a high rate. You have this asinine notion that the rest of the producing world won't change its behavior because we're bringing materially more amounts to the supply when their livelihoods depend on high oil prices. OPEC will reduce supply provided to bring down global production to ensure a high price. They will match our increases with their decreases. Russia will follow suit.
10) Oil has had a hundred years and billions in subsidizes and tax credits per year which artificially reduces its actual cost.
