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Gas prices are going up again

This is a discussion on Gas prices are going up again within the Economy forums, part of the US Discussion category; Quote: Originally Posted by mudwhistle Quote: Originally Posted by uscitizen Quote: Originally Posted by bigrebnc1775 What recovery? The official recovery, GDP is up, the market ...


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Old 04-26-2011, 08:45 AM
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Quote: Originally Posted by mudwhistle View Post
Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by bigrebnc1775 View Post

What recovery?
The official recovery, GDP is up, the market is roaring along. What more can we ask for?
If you are not doing well it is just your fault

There is no debate among economists that the recession is officially over.
What more could I ask for?

We're paying twice as much for gas as we did before Obama and Wall Street is the only one making gobs of cash.
We can't get a loan to save our lives. Can't sell our properties unless it's at a loss. Food prices are sky-rocketing.

What more could I ask for.
What most people that use economist as their guide do not realize someone who works in construction no more about what a strong economy looks like than someone who just uses numbers.
I look at the new construction jobs that have been given permits to start building new buildings.
I look at the new hire of construction works as a guide. and in the area it' ain't looking good, and with construction goes the economy.
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  #62 (permalink)  
Old 04-26-2011, 08:46 AM
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Quote: Originally Posted by Big Fitz View Post
Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by bigrebnc1775 View Post

Revisit history
Bush lift offshore drilling ban oil prices drop the next day by ten dollars a barrel. Even the media tried to spin it that it wasn’t the cause.
bush did not lift offshore drilling off of FL or CA or much of the east coast.
No. Bush lifted the executive order bannin drilling for the entire US. CONGRESS did not lift the congressional ban universally.
yes in 2008 on most offshore drilling but not all.

You might want to watch this vid at this link.

Bush Offshore Drilling Ban

also the ban was put in place by Bush I.

Hmm then there is this...


There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order. Bush is not lifting the executive order, saying he wants Congress to take the first step. He said he will lift the executive ban once Congress lifts its moratorium.



Read more: Bush: Lift offshore drilling-ban now

so he did NOTHING! Just an election ploy. And who fell for it?
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Old 04-26-2011, 08:58 AM
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Come on back and tell me again how Bush lifted the offshore drilling ban.
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Old 04-26-2011, 09:01 AM
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Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by editec View Post
Presuming the this or any POTUS is responsible for the price of oil is ignorance on a monumental scale.
Now not totally. bush and his push to and invasion of Iraq did raise the price of oil. And perhaps so did our action in Libya.

But most is driven by speculators and demand.

and let us not forget that the consumers also bear some blame for buying guzzlers and being wasteful thereby increasing demand.

Well certainly foreign affairs are impacting the price of oil.

But starting out with a thread blaming a POTUS for today's runup in prices is nothing more than trolling.

Its so fucking stupid on its face, that I simply cannot imagine that even the author of such political tripe believes it.
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  #65 (permalink)  
Old 04-26-2011, 09:06 AM
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Quote: Originally Posted by editec View Post
Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by editec View Post
Presuming the this or any POTUS is responsible for the price of oil is ignorance on a monumental scale.
Now not totally. bush and his push to and invasion of Iraq did raise the price of oil. And perhaps so did our action in Libya.

But most is driven by speculators and demand.

and let us not forget that the consumers also bear some blame for buying guzzlers and being wasteful thereby increasing demand.

Well certainly foreign affairs are impacting the price of oil.

But starting out with a thread blaming a POTUS for today's runup in prices is nothing more than trolling.

Its so fucking stupid on its face, that I simply cannot imagine that even the author of such political tripe believes it.
I fully agree.
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Old 04-26-2011, 09:12 AM
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Btw, the market wouldn't be this high if it weren't for the trillions of freshly printed dollars from the Treasury used to monitise the debt in QE1 and QE2. $1 trillion in quanitative easing, which is part of the cause of inflation and higher gas prices.
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Old 04-26-2011, 09:15 AM
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Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by Big Fitz View Post
Quote: Originally Posted by uscitizen View Post

bush did not lift offshore drilling off of FL or CA or much of the east coast.
No. Bush lifted the executive order bannin drilling for the entire US. CONGRESS did not lift the congressional ban universally.
yes in 2008 on most offshore drilling but not all.

You might want to watch this vid at this link.

Bush Offshore Drilling Ban

also the ban was put in place by Bush I.

Hmm then there is this...


There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order. Bush is not lifting the executive order, saying he wants Congress to take the first step. He said he will lift the executive ban once Congress lifts its moratorium.



Read more: Bush: Lift offshore drilling-ban now

so he did NOTHING! Just an election ploy. And who fell for it?
Bush Lifts Drilling Moratorium, Prodding Congress - NYTimes.com

Bush lifts executive ban on offshore drilling - USATODAY.com

Offshore Drilling Ban Lifted - Acadiana's News Leader

Nice map to show where it was in place, then lifted from. I do seem to be wrong about not lifting it from California. But it's been lifted.

BBC NEWS | Business | Bush lifts offshore drilling ban

Or every one I've quoted has been suckered in too.
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  #68 (permalink)  
Old 04-26-2011, 09:15 AM
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Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by uscitizen View Post

Now not totally. bush and his push to and invasion of Iraq did raise the price of oil. And perhaps so did our action in Libya.

But most is driven by speculators and demand.

and let us not forget that the consumers also bear some blame for buying guzzlers and being wasteful thereby increasing demand.
Revisit history
Bush lift offshore drilling ban oil prices drop the next day by ten dollars a barrel. Even the media tried to spin it that it wasn’t the cause.
bush did not lift offshore drilling off of FL or CA or much of the east coast.
7/ 15/ 2008
Bush Rescinds Father's Offshore Oil Ban

Bush Rescinds Father's Offshore Oil Ban - washingtonpost.com
7/16/2008

Bush Ends Executive Ban on Off-Shore Drilling and Oil Prices Drop 7% in two trading sessions

http://patterico.com/2008/07/16/bush...ding-sessions/

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Old 04-26-2011, 09:17 AM
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Quote: Originally Posted by mudwhistle View Post
Btw, the market wouldn't be this high if it weren't for the trillions of freshly printed dollars from the Treasury used to monitise the debt in QE1 and QE2. $1 trillion in quanitative easing, witch is part of the cause of inflation and higher gas prices.
Dead right. It also is why every commodity is spiking. Gold, gas, silver, food. The dollar is devaluing, and they're lying about inflation because they're ignoring the 2 major indicators: Fuel and Food. If you had used the same methodology of inflation calculation as was used through the 70's and 80's (Before it was changed under Clinton) we'd have been at around 10-12% for over a year now.
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Old 04-26-2011, 09:20 AM
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Quote: Originally Posted by editec View Post
Presuming the this or any POTUS is responsible for the price of oil is ignorance on a monumental scale.
But policy announcements do matter. Lots of links to pronouncements and charts at site:

Pajamas Media » Thanks to Obama, Gas Jumps in a Flash

Quote:
...Obama and his minions have been chasing the green jobs chimera for so long that it’s an instinct. They pompously suggest [7] that Americans ought to trade in their current vehicles [8] for pricey, government-approved matchbox cars [9], asserting still [10] that there’s “no quick fix” for high energy prices. History, and very recent history at that, indicates that they are mistaken.

Take a look at this chart compiled by metalprices.com [11]. It’s the price of a barrel of crude oil over the past 5 years.

See that big peak in the middle? That was the last oil spike, in the summer of 2008. Notice how the price hit a high point, then fell off a cliff afterwards?

The day corresponding to that peak, an all-time high of $145.16/barrel, was July 14, 2008. By some strange coincidence, that was the very same day then-President George W. Bush lifted, by executive order, a federal ban on offshore oil drilling.

Bush’s order was, of course, immediately dismissed by the “experts.” Reuters [12] waved away the action as “a largely symbolic move unlikely to have any short-term impact on high gasoline costs.” Barack Obama’s campaign lectured that if “offshore drilling would provide short-term relief at the pump or a long-term strategy for energy independence, it would be worthy of our consideration, regardless of the risks. But most experts, even within the Bush administration, concede it would do neither.”

The movement left was even more dismissive. ClimateProgress.org [13] blasted The Washington Post for failing to headline their story about the order “Offshore Drilling Raises Oil Prices.” In response to Bush’s assertion that additional offshore extraction could equal current U.S. production in 10 years, they editorialized: “Yes, and monkeys could fly out of my butt” (emphasis in original).

There was just one problem: reality. Even though, as critcs were eager to point out, any additional American drilling was years in the future, oil prices immediately went into free-fall. By Friday, July 18, the price of a barrel of crude [14] had dropped to $128.94, a 12% decrease. A month later, on August 14, the price had fallen to $115.05. In spectacular fashion, Bush’s academic and media critics were proven seriously wrong.

For commodities traders who’d been pricing oil based on a supposition of scarcity, the potential for millions of additional barrels on the market hit like a thunderbolt. The simple act of putting America’s resources on the table popped the oil bubble, and a stunning price drop followed in short order. By election day, November 4, the price of a barrel of crude had plummeted to $70.84 — a 51% decrease in less than five months.

But wait. I can already hear the cries of, “Uh uh! The price dropped becase demand fell off! Haven’tcha ever heard of the Great Recession?”

Problem is, all of that happened months prior to the collapse of Lehman Brothers and the beginning of the financial crisis on September 15, 2008 (price of crude: $95.52). Oil prices actually spiked at the outset of the economic mess, peaking at just over $100/barrel on September 30 before falling again. They reached a bottom price of $30.28 on December 23, a jaw-dropping 80% off the July peak, less than a month before Barack Obama took office.

Speaking of which: Obama had been president-elect for all of five days [15] when he announced his intention to rescind Bush’s order. Oil prices started going up again in January of 2009 and steadily increasing ever since. Obama Energy Secretary Ken Salazar announced a highly restrictive offshore leasing policy [16] last December, and the Bush executive order was officially reversed [16] on February 8, 2011.

The price of crude that day was $85.85. By April 19, it had risen to $107.18, with no end in sight.
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  #71 (permalink)  
Old 04-26-2011, 09:23 AM
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Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by editec View Post
Quote: Originally Posted by uscitizen View Post

Now not totally. bush and his push to and invasion of Iraq did raise the price of oil. And perhaps so did our action in Libya.

But most is driven by speculators and demand.

and let us not forget that the consumers also bear some blame for buying guzzlers and being wasteful thereby increasing demand.

Well certainly foreign affairs are impacting the price of oil.

But starting out with a thread blaming a POTUS for today's runup in prices is nothing more than trolling.

Its so fucking stupid on its face, that I simply cannot imagine that even the author of such political tripe believes it.
I fully agree.
I guess if the MSM didn't point it out to you inflation isn't happening, and you can go ahead and pay for your groceries and your gas and blame it all on evil speculators.
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  #72 (permalink)  
Old 04-26-2011, 04:27 PM
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Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by mudwhistle View Post
Quote: Originally Posted by uscitizen View Post

The official recovery, GDP is up, the market is roaring along. What more can we ask for?
If you are not doing well it is just your fault

There is no debate among economists that the recession is officially over.
What more could I ask for?

We're paying twice as much for gas as we did before Obama and Wall Street is the only one making gobs of cash.
We can't get a loan to save our lives. Can't sell our properties unless it's at a loss. Food prices are sky-rocketing.

What more could I ask for.
What most people that use economist as their guide do not realize someone who works in construction no more about what a strong economy looks like than someone who just uses numbers.
I look at the new construction jobs that have been given permits to start building new buildings.
I look at the new hire of construction works as a guide. and in the area it' ain't looking good, and with construction goes the economy.
A friend of mine got their car broken into the other day...that's clearly a national gazillion percentage increase on crime because I didn't know anyone that had suffered a break-in the day before that.
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Old 04-26-2011, 04:34 PM
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Quote: Originally Posted by mudwhistle View Post

What more could I ask for?

We're paying twice as much for gas as we did before Obama and Wall Street is the only one making gobs of cash.
We can't get a loan to save our lives. Can't sell our properties unless it's at a loss. Food prices are sky-rocketing.

What more could I ask for.
What most people that use economist as their guide do not realize someone who works in construction no more about what a strong economy looks like than someone who just uses numbers.
I look at the new construction jobs that have been given permits to start building new buildings.
I look at the new hire of construction works as a guide. and in the area it' ain't looking good, and with construction goes the economy.
A friend of mine got their car broken into the other day...that's clearly a national gazillion percentage increase on crime because I didn't know anyone that had suffered a break-in the day before that.
Which a nothing to do with what I said.
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Old 04-26-2011, 05:12 PM
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What most people that use economist as their guide do not realize someone who works in construction no more about what a strong economy looks like than someone who just uses numbers.
I look at the new construction jobs that have been given permits to start building new buildings.
I look at the new hire of construction works as a guide. and in the area it' ain't looking good, and with construction goes the economy.
A friend of mine got their car broken into the other day...that's clearly a national gazillion percentage increase on crime because I didn't know anyone that had suffered a break-in the day before that.
Which a nothing to do with what I said.
It means that anecdotes are no way to assess national results.
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Old 04-26-2011, 05:16 PM
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A friend of mine got their car broken into the other day...that's clearly a national gazillion percentage increase on crime because I didn't know anyone that had suffered a break-in the day before that.
Which a nothing to do with what I said.
It means that anecdotes are no way to assess national results.
But seeing the effects of a bad economy and a strong economy construction jobs and construction hiring is a good indicator. I have seen it for years. Coinstruction start's to slow down the economy is slowing down. So yes I am a better indicator of the economy than the economist.
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