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Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
fairly flat for the year and a half before the GOP took congress
No, the graph says from June 2009 to Dec 2010 the price of gas was fairly flat, then the GOP took over in the beginning of January and gas has been skyrocketing ever since. Gas has gone up about as much in the 3.5 months the GOP controlled the house as it did in the first 2 years of Obama.Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!There's the graph calling you a liar.fairly flat for the year and a half before the GOP took congress
Except I said a YEAR AND A HALF before the GOP took over!!!Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!There's the graph calling you a liar.fairly flat for the year and a half before the GOP took congress
The price went 1.60 a gallon to 2.70 in less than a year in 2009 and that's fairly flat to you?
what american voters will do will depend on prices in nov of 2012
americans vote their wallets at the time of elections
No, the graph says from June 2009 to Dec 2010 the price of gas was fairly flat, then the GOP took over in the beginning of January and gas has been skyrocketing ever since. Gas has gone up about as much in the 3.5 months the GOP controlled the house as it did in the first 2 years of Obama.Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!There's the graph calling you a liar.fairly flat for the year and a half before the GOP took congress
Thanks GOP and the Teabaggers.
Except I said a YEAR AND A HALF before the GOP took over!!!Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!There's the graph calling you a liar.fairly flat for the year and a half before the GOP took congress
The price went 1.60 a gallon to 2.70 in less than a year in 2009 and that's fairly flat to you?
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
On what basis will gas be that expensive?
To understand what happened to the price of oil, you first have to understand the way it's traded. For years it has been bought and sold on something called the commodities futures market. At the New York Mercantile Exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future.
It was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials, and airlines could manage their fuel costs. But more than a year ago those markets started to behave erratically. And when oil doubled to more than $147 a barrel, no one was more suspicious than Dan Gilligan.
When 60 Minutes talked to him last summer, his members were getting blamed for gouging the public, even though their costs had also gone through the roof. He told Kroft the problem was in the commodities markets, which had been invaded by a new breed of investor.
"Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions," Gilligan explained.
About the same time, hedge fund manager Michael Masters reached the same conclusion. Masters' expertise is in tracking the flow of investments into and out of financial markets and he noticed huge amounts of money leaving stocks for commodities and oil futures, most of it going into index funds, betting the price of oil was going to go up.
Asked who was buying this "paper oil," Masters told Kroft, "The California pension fund. Harvard Endowment. Lots of large institutional investors. And, by the way, other investors, hedge funds, Wall Street trading desks were following right behind them, putting money - sovereign wealth funds were putting money in the futures markets as well. So you had all these investors putting money in the futures markets. And that was driving the price up."
As it turns out, not even J.P. Morgan's chief global investment officer agreed with him. The same that day Eagles testified, an e-mail went out to clients saying "an enormous amount of speculation" ran up the price" and "140 dollars in July was ridiculous."
A recent report out of MIT, analyzing world oil production and consumption, also concluded that the basic fundamentals of supply and demand could not have been responsible for last year's run-up in oil prices. And Michael Masters says the U.S. Department of Energy's own statistics show that if the markets had been working properly, the price of oil should have been going down, not up.
It's impossible to tell exactly who was buying and selling all those oil contracts because most of the trading is now conducted in secret, with no public scrutiny or government oversight. Over time, the big Wall Street banks were allowed to buy and sell as many oil contracts as they wanted for their clients, circumventing regulations intended to limit speculation. And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges.
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.Except I said a YEAR AND A HALF before the GOP took over!!!There's the graph calling you a liar.
The price went 1.60 a gallon to 2.70 in less than a year in 2009 and that's fairly flat to you?
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
Obviously neither of you gave that crap much thought. The Deepwater spill and ban was a year ago and lifted in October, during the flat period.Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Good call I didn't think about that
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.Except I said a YEAR AND A HALF before the GOP took over!!!
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
Try to keep up!
In many places across the country gas in over $4.50 a gallon today.
Too lazy to google, so typical.20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
Try to keep up!
You lied when you said gas Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!! according to the graph what is the highest gas has went to?
Link or the only reply you will get from me is liarIn many places across the country gas in over $4.50 a gallon today.
Since when is one place many places?Too lazy to google, so typical.20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.
Try to keep up!
You lied when you said gas Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!! according to the graph what is the highest gas has went to?
Link or the only reply you will get from me is liarIn many places across the country gas in over $4.50 a gallon today.
It was all over the local news here that regular gas was over $4.50 in NYC. They reported it was even higher in Connecticut.
Price- $4.66
Station- Mobil
Area- 70 10th Ave & W 14th St
Manhattan
19 hours ago
In many places across the country gas in over $4.50 a gallon today.
