$6.00 a gallon for gas in Florida

[KissMy]

this is all speculation. the article clearly stated the following:

"If we were to drill today, realistically speaking, we should not expect a barrel of oil coming out of this new resource for three years, maybe even five years, so let's not kid ourselves," said Fadel Gheit, oil and gas analyst with Oppenheimer & Co. Equity Capital Markets Division.

this is the reason the price of oil fell. speculator thought there would be more oil instantly, not because actual supplies increased. if you were to end oil speculation, oil would actually drop dramatically.

It took less than a year for oil production to begin after the OCS ban was lifted. That was barely enough time for the speculators to sell off all the oil they were hording in "floating storage" before the new supply came on line. Selling all that oil caused the price to drop $112 from $147 to $35 .

can you provide any proof that oil dropped $112 during the Bush administration?

If you would read, I posted it back here in this thread.

Here is another chart. High of $147.90 to Low of $35.13 = $112.77

 

[bigrebnc1775]

this is all speculation. the article clearly stated the following:

"If we were to drill today, realistically speaking, we should not expect a barrel of oil coming out of this new resource for three years, maybe even five years, so let's not kid ourselves," said Fadel Gheit, oil and gas analyst with Oppenheimer & Co. Equity Capital Markets Division.

this is the reason the price of oil fell. speculator thought there would be more oil instantly, not because actual supplies increased. if you were to end oil speculation, oil would actually drop dramatically.

ONE MORE FUCKING TIME
When bush lifted the ban on offshore drilling the price of oil dropped. No oil had to be drilled nor did congress have to take action just with a stroke of the presidential pen the price of oil dropped 6.00

Now obama resend's to executive order and reinstates the ban and oil prices are back up.

Off-shoring drilling should be a state issue. It's not listed anywhere in the Constitution. The people of Florida should have the right to ban it off of our shores if we see fit. I don't think that big government should come in and allow corporations to drill for oil at the risk of our economy (which is largely based on tourism), just to lower the prices of gas a little. It's not worth it for us-and most Floridians agree that way.

State issue or federal issue makes no difference, when Bush lifted the ban oil prices dropped.

 

[uscitizen]

Florida Drivers Shelling Out Nearly $6 A Gallon At Some Gas Stations « CBS Tampa

TAMPA (CBS Tampa) — Talk about pain at the pump! Some Florida drivers are spending nearly $6 a gallon to fill up their gas tanks.

According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular.

What GOOD NEWS for democrats. If this doesn't put a lock on obama's keeping his job, everyone is just racist. Democrats will tell you how high prices are good for the ecoonomy.

That is in the heart of "Disposable Income Land".
That whole area is out to gouge prices on everything.

if you understand supply and demand you understand that gas is directly tied to the price of oil. oil is also a commodity which is sold on the open markets and available for speculation. the GOP touts the free market system as the best system in the world. well this is a result of the free market system. if demand outpaces supply, prices increase. which is what is currently happening.

now you may say that its because Obama is limiting drilling on the north american shelf. this again is not true at all. Domestic drilling and oil production is at its highest level in history. the problem is that oil once again is a commodity and its price is set on the open market.

if the president were to unilaterally fix gas prices, then you could actually call him a socialist or a communist. since this is actually a part of the socialist / communist ideology. when the government control, fixes, or alters an industry unilaterally, it is in essence the definition of socialism / communism. if this is what the GOP/TP/Conservative want, its extremely hypocritical.

Supply is up and demand is down.

Now what?

Must be because Jeb and George Bush banned drilling off of their coast?

 

[skookerasbil]

The US produces more oil than anytime in the last 12 years, the other 37 alternative energy projects beside Solyndra are getting that underway, and Obama is building the first new nuclear plant in 30 years- we're also using less foreign oil than we have in years. And oil rigs are SAFER than anytime under Big OIL

The prices now are due to the Iran crisis and speculators using THAT to jack up prices. This too shall pass, and without a WAR.

It's called having an intelligent PLAN and diplomacy...

meh...........

thats like saying your team wins because its uniforms are prettier despite your team being down 72-0.


Thats right..........people are going to walk into the voting booth in a few months and say to themselves, "Ahhh........so what I paid $4 to $6 a gallon for a few months. At least the president had a good plan!!!"






God I love this forum!!!

 

[Syphon]

got it. now can you provide a link that proves that this drop was a direct result of the bush policy and not a result of other world wide events? things such as an increase in the production from OPEC, a decrease in demand due to the recession.

 

[Synthaholic]

'Hope & Change' is fun huh?

It's necessary. Nobody said it was going to be easy. So sorry that it may inconvenience you to sacrifice a little for your country. We'll try not to interrupt your PS3 time too often.

 

[skookerasbil]

Every penny gas goes up = 1 billion/day less spent in the economy by consumers.

 

[Pheonixops]

"Global oil demand is forecast to climb". That is the February oil market report.

Since oil futures are based on forecasts, then if everyone thinks the demand for oil is going to rise, then that will cause the price of oil futures to rise.

And since speculators now make up the majority of oil futures trading, we could be seeing a repeat of 2008 again.

Obama has about as much control over oil futures as Bush did. Blaming Obama for the price of oil is sheer ignorance.

There are actions which Congress can take to rein in speculation, but that would require the GOP to go along with it. That would get rid of the speculative factor in gas prices and then we would just be subject to the ordinary market forces of supply and demand.

Excellent points. Some people are just dullards and dolts. They can't even think of it from a practical perspective; it's an election year and I doubt that if Obama could control it, that he would let the price of gas increase in a very slowly recovering economy.

 

[bigrebnc1775]

'Hope & Change' is fun huh?

It's necessary. Nobody said it was going to be easy. So sorry that it may inconvenience you to sacrifice a little for your country. We'll try not to interrupt your PS3 time too often.

My country doesn't need to be changed, the political system does. I did not sign onto the obama bandwagon and I fucking refuse to ride on it.

 

[KissMy]

got it. now can you provide a link that proves that this drop was a direct result of the bush policy and not a result of other world wide events? things such as an increase in the production from OPEC, a decrease in demand due to the recession.

Bush lifted the OCS ban & caused oil to plummet 2 months before the economy & the stock market peaked out. Investment banks control 70% of the oil. When oil prices fell these banks were forced to sell as profits evaporated. This huge loss was one of the triggers of the market crash 2 months later. They held the oil Enron style in tankers off shore.

Traders Unload Oil in Gulf of Mexico as Storage Bets Fall

Oil imports into the Gulf of Mexico region surged to a record last week as the profits from floating storage evaporated, pushing traders to unload their cargoes and forcing crude futures lower.

 

[Syphon]

'Hope & Change' is fun huh?

It's necessary. Nobody said it was going to be easy. So sorry that it may inconvenience you to sacrifice a little for your country. We'll try not to interrupt your PS3 time too often.

My country doesn't need to be changed, the political system does. I did not sign onto the obama bandwagon and I fucking refuse to ride on it.

if you can actually debate his policies that is one thing. but simply throwing out conservative talking points from Rush or Glen Beck really isnt a debate.

 

[Syphon]

got it. now can you provide a link that proves that this drop was a direct result of the bush policy and not a result of other world wide events? things such as an increase in the production from OPEC, a decrease in demand due to the recession.

Bush lifted the OCS ban & caused oil to plumit 5 weeks before the economy & the stock market peaked out. Investment banks control 80% of the oil. When oil prices fell these banks were forced to sell as profits evaporated. This huge loss was one of the triggers of the market crash 5 weeks later. They held the oil Enron style in tankers off shore.

Traders Unload Oil in Gulf of Mexico as Storage Bets Fall

Oil imports into the Gulf of Mexico region surged to a record last week as the profits from floating storage evaporated, pushing traders to unload their cargoes and forcing crude futures lower.

the article you posted does not actually refer to the Bush policy as a root cause of oil pricing dropping:

Stockpiles unexpectedly rose 7.31 million barrels, or 2.1 percent, to 360.8 million in the week ended July 23, confounding analysts who predicted inventories would fall 1.73 million barrels, or 0.5 percent, to their lowest level in four months. A surge in imports to Gulf states contributed to the glut, Energy Department figures showed July 28.

Imports into Gulf states averaged 7.212 million barrels per day the week ended July 23, the highest since the Energy Department began tracking data in 1990. Supplies in the region jumped 8.18 million barrels, or 4.6 percent, to 184.6 million.

so youre correct in that prices fell, but his was due to an unexpected rise in inventory and speculators dumping them to make a profit. still not sure exactly how Bush caused this.......

i get your argument, but the fact supporting your argument are weak at best.

 

[Pheonixops]

you would need OPEC to increase supply to have any kind of affect on world markets. how is this an Obama decision?

If we INCREASE out own production, we buy LESS FOREIGN OIL! It's a pretty simple concept!

PLUS we put Americans to work producing, refining and moving our own products.

The theory sounds great, I'm all for it. The only problem I have with it, is that people have said that it goes to the "world market" so it wouldn't make a difference. If we could drill here, refine here and buy our own domestic fuel almost exclusively and become energy independent, that would be great.

 

[C_Clayton_Jones]

What GOOD NEWS for democrats.

The idiocy of the right is remarkable.

 

[bigrebnc1775]

It's necessary. Nobody said it was going to be easy. So sorry that it may inconvenience you to sacrifice a little for your country. We'll try not to interrupt your PS3 time too often.

My country doesn't need to be changed, the political system does. I did not sign onto the obama bandwagon and I fucking refuse to ride on it.

if you can actually debate his policies that is one thing. but simply throwing out conservative talking points from Rush or Glen Beck really isnt a debate.

Can you debate his polices without using obama talking points?

As I said My country doesn't need to be changed, the political system does. I did not sign onto the obama bandwagon and I fucking refuse to ride on it.

 

[ABikerSailor]

Florida Drivers Shelling Out Nearly $6 A Gallon At Some Gas Stations « CBS Tampa

TAMPA (CBS Tampa) — Talk about pain at the pump! Some Florida drivers are spending nearly $6 a gallon to fill up their gas tanks.

According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular.

What GOOD NEWS for democrats. If this doesn't put a lock on obama's keeping his job, everyone is just racist. Democrats will tell you how high prices are good for the ecoonomy.

Actually, your article states that the outrageous gas prices are mainly in tourist areas.

According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular.

“Prices over in the Disney World area are much higher than any other place in Florida,” Jessica Brady, AAA spokeswoman, told CBS Tampa, adding that people regularly complain about gas prices in that area.

The Sunshine State is opening up its wallet, paying an average of $3.67 a gallon of unleaded gas, 12 cents more than the national average. And it’s only expected to go up.

Florida Drivers Shelling Out Nearly $6 A Gallon At Some Gas Stations « CBS Tampa

Currently, the average gallon of gas is 3.67.

Just another example of gas stations profiteering off of the fear mongers.

 

[Pheonixops]

Florida Drivers Shelling Out Nearly $6 A Gallon At Some Gas Stations « CBS Tampa

TAMPA (CBS Tampa) — Talk about pain at the pump! Some Florida drivers are spending nearly $6 a gallon to fill up their gas tanks.

According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular.

What GOOD NEWS for democrats. If this doesn't put a lock on obama's keeping his job, everyone is just racist. Democrats will tell you how high prices are good for the ecoonomy.

I live in Tampa. I filled up my car yesterday. I paid $3.53 per gallon. Don't believe everything you read.

edit: the pumps they're talking about are in the tourist areas. Of course gas is that expensive there-everything is. Gas pumps around the state are not this high. The article even cites the average as being $3.67. What's the next piece of big news? Gas in NYC being higher than most other places? lol.

Thanks for bringing more TRUTH and sanity to the thread.

 

[Uncensored2008]

Obamas problem is his pro-Israel foreign policy.

Well, there you go Ahmed!

If he would just kill some Jews, everything would be great!

He needs to think more capitalistic and trade with those countries that has oil.

Or maybe, let the USA drill - what an IDEA.

Cuba, Venezuela and Iran has large reserves and can sell for a low price,

You DO understand the oil in the gulf is closer to the the USA than Cuba, doncha Farouk?

but Obama put government regulations on trade with those countries. Embargo on Cuba, embargo on Iran, embargo on Venezuela. Obamas regulations on free trade makes the oil more expensive.

Especially when you consider that most imported oil comes from Canada...

Not at a pipeline would help - better to kill Jooozzzzz

 

[KissMy]

got it. now can you provide a link that proves that this drop was a direct result of the bush policy and not a result of other world wide events? things such as an increase in the production from OPEC, a decrease in demand due to the recession.

Bush lifted the OCS ban & caused oil to plummet 2 months before the economy & the stock market peaked out. Investment banks control 70% of the oil. When oil prices fell these banks were forced to sell as profits evaporated. This huge loss was one of the triggers of the market crash 2 months later. They held the oil Enron style in tankers off shore.

Traders Unload Oil in Gulf of Mexico as Storage Bets Fall

Oil imports into the Gulf of Mexico region surged to a record last week as the profits from floating storage evaporated, pushing traders to unload their cargoes and forcing crude futures lower.

the article you posted does not actually refer to the Bush policy as a root cause of oil pricing dropping:

Stockpiles unexpectedly rose 7.31 million barrels, or 2.1 percent, to 360.8 million in the week ended July 23, confounding analysts who predicted inventories would fall 1.73 million barrels, or 0.5 percent, to their lowest level in four months. A surge in imports to Gulf states contributed to the glut, Energy Department figures showed July 28.

Imports into Gulf states averaged 7.212 million barrels per day the week ended July 23, the highest since the Energy Department began tracking data in 1990. Supplies in the region jumped 8.18 million barrels, or 4.6 percent, to 184.6 million.

so youre correct in that prices fell, but his was due to an unexpected rise in inventory and speculators dumping them to make a profit. still not sure exactly how Bush caused this.......

i get your argument, but the fact supporting your argument are weak at best.

It is not a weak arguement. It is the way the speculators on the futures markets operate. If they see more future supply comming on-line, they panic to dump their stockpiles while prices are high ahead of the new production that will force prices down. This causes a oil market crash.

Tanker Glut Signals 25% Drop on 26-Mile Line of Ships

A 26-mile-long line of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year.

The ships will unload 26 percent of the crude and oil products they are storing in six months, adding to vessel supply and pushing rates for supertankers down to an average of $30,000 a day next year, compared with $40,212 now, according to the median estimate in a Bloomberg News survey of 15 analysts, traders and shipbrokers. That’s below what Frontline Ltd., the biggest operator of the ships, says it needs to break even.

Traders booked a record number of ships for storage this year, seeking to profit from longer-dated energy futures trading at a premium to contracts for immediate delivery, according to SSY Consultancy & Research Ltd., a unit of the world’s second- largest shipbroker.

 

[Pheonixops]

how has Obama decimated oil companies exactly?if record profits while still receiving government subsidies is a decimation, then i guess youre right.