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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.
 
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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.

This was also the arguement 5 years ago.
 
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!
 
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?
 
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.
 
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.
 
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.
 
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.
 
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...
 
As I recall gas was around $2.80 a gallon when Bush left office so gas below $2.00 isn’t a huge stretch. I think people have been so brainwashed to accept high gas prices that anyone who says different is labeled a kook; lib media has done its job well. With new technology more oil is being found and being made accessible all the time, not to mention oil shale which rivals Saudi oil fields in potential. USA also has abundant natural gas which could be brought on line to power fleet vehicles immediately because fleets don’t need new infrastructure of gas stations which would take time. If Bachmans idea is open all this stuff up to drilling I don’t find her number at all unreasonable.
 
if Bachmann is suggesting that the POTUS can significantly influence the prices OPEC sets, and the world-wide demand for oil, then she is a bigger fool than most of us realized.
 
if Bachmann is suggesting that the POTUS can significantly influence the prices OPEC sets, and the world-wide demand for oil, then she is a bigger fool than most of us realized.

OPEC doesn't set the prices. They can somewhat influence them but they do not set them. Their influence is generally short term at that. This seems to be a common misperception though.
 
With new technology more oil is being found and being made accessible all the time, not to mention oil shale which rivals Saudi oil fields in potential.

In potential, sure. Right now, not so much. Extracting the oil out of oil shale is not as easy or as cheap. Until it is, there's basically two things that could be true: prices will go up (because of the increased cost of extraction), or oil companies won't want to touch it because they won't get the profit margin on it.

USA also has abundant natural gas which could be brought on line to power fleet vehicles immediately because fleets don’t need new infrastructure of gas stations which would take time. If Bachmans idea is open all this stuff up to drilling I don’t find her number at all unreasonable.

Fleets that run on CNG have no effect on the price of gasoline, because they don't use it.
 
What are her economic policies to begin with?

From her website:

Michele Bachmann for President | MicheleBachmann.com

Blah Blah, same old empty rhetoric.



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.

Kinda my point. Beat on her over her actual policies and agenda...fine. Beat on her cuz ya dont like her. Thats kinda foolish.

I dont particularly agree with anything about her other than the position on smaller and more efficient government. I certainly wouldnt vote for her. Still...should she be elected I wonder if her supporters will give her the same kind of pass on failing to live up to campaign rhetoric that the Obama supporters do. Can she use the "gosh...it was worse than I ever dreamed it would be. It was pandelirium. I thought we would be killed or even worse" type excuses too? Or will there be a double standard? Nah....
 
Yep, here we go:

GDP growth:

View attachment 67115021

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.
That GDP chart in no way correlates to the gas prices shown on the website.
 
OPEC doesn't set the prices. They can somewhat influence them but they do not set them. Their influence is generally short term at that. This seems to be a common misperception though.

Controlling supply certainly can and does impact pricing.
 
Stop putting all the expensive, government mandated additives into it and stop making unleaded gasoline.

We put those additives in it to reduce smog, and the unleaded gasoline is needed because leaded gas fowls catalytic converters. Thus if that's her plan, and it may well be seeing that she wants to lock the doors to the EPA, then we would be doing away with the Clean Air Act, and every single vehicular pollution control of the last 40 years.

Vote Republican - We will bring back the jobs and give you cheap gas by turning your cities from this:


Chicago.jpg

Into this:

smog-jj-005.jpg

I don't get why many of the same people that constantly publicly profess their love for God, despise his supposed creation so much.
 
What she really meant...

Corn Dog $1.99

michele-bachmann-corndog.jpg

Don't stand behind her.
 
As I recall gas was around $2.80 a gallon when Bush left office so gas below $2.00 isn’t a huge stretch. I think people have been so brainwashed to accept high gas prices that anyone who says different is labeled a kook; lib media has done its job well. With new technology more oil is being found and being made accessible all the time, not to mention oil shale which rivals Saudi oil fields in potential. USA also has abundant natural gas which could be brought on line to power fleet vehicles immediately because fleets don’t need new infrastructure of gas stations which would take time. If Bachmans idea is open all this stuff up to drilling I don’t find her number at all unreasonable.

What you also conveniently fail to recall is that the reason prices were so low back then is because we were in the midst of a serious recession in which demand for fuel went way down. Want a healthy, stable, economy? You're probably going to have to deal with high gas prices because energy will be in demand, and no matter what new technology you develop, oil reserves are still finite, and extracting shale is still costly and has questionable environmental impacts.
 
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This lady is so bat **** crazy I'm starting to like her. I would never vote for her, of course, but I find her to be more and more entertaining each time she opens her mouth. Who can harbor bad feelings about a jester? Just gotta love 'em.

Between her and Perry, I imagine the headlines will get more and more absurd as time goes on and I am truly lookintg forward to the unintentional comedy. That's the best form of humor, if you ask me.
 
This lady is so bat **** crazy I'm starting to like her. I would never vote for her, of course, but I find her to be more and more entertaining each time she opens her mouth. Who can harbor bad feelings about a jester? Just gotta love 'em.

Between her and Perry, I imagine the headlines will get more and more absurd as time goes on and I am truly lookintg forward to the unintentional comedy. That's the best form of humor, if you ask me.

Perry's more grounded and a much more viable candidate (he has a record to run on), but that's not really saying much when comparing her to Bachmann.
 
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...

Put an end to speculation, make it illegal it's just another way for the haves to steal from the have nots. If ending speculation only brings the price per gallon down 10% the poor and elderly in our country will benefit from it

‘Perhaps 60% of today’s oil price is pure speculation’
 
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