Gas Prices Head Toward Record-Breaking Height...

Discussion in 'Politics' started by paulitician, Feb 20, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    President Obama's re-elect team defended White House energy policy on Sunday as gas prices shoot toward the $4 mark and beyond, a level that could devastate voters' pocketbooks as well as Obama's chances for a second term.

    Nationally, gas prices are $3.53 a gallon, up 25 cents since Jan. 1, and likely headed to $4.25 a gallon by late April. Republicans have demanded more oil production at home, as well as building the Keystone XL pipeline across the middle of the U.S. to allow oil from Canada to reach Texas refineries.

    Obama rejected the plan, but one of his spokesmen, Robert Gibbs, said the president is looking to increase domestic energy production.

    "Just on Friday, the Department of Interior issued permits that will expand our exploration in the Arctic. The president has increased our fuel efficiency and energy efficiency standards so we do use less energy, which will help drive down the price," Gibbs said. "Our domestic oil production is at an eight-year high, and our use of foreign oil is at a 16-year low. So we're making progress."

    But John Hofmeister, former CEO of Shell Oil and founder of Citizens for Affordable Energy, told Fox News that oil production today is only 7 million barrels per day when it used to be 10 million per day.

    Hofmeister warned that the global economy is in "the crosshairs" of a precarious situation in which China is growing its demand for oil each year by millions of barrels per day and turmoil in the Middle East is creating "some of the most unpredictable, volatile, geopolitical situations" in the world.

    Global oil demand, meanwhile, is expected to increase by another 1.5 percent to 89.25 million barrels a day in 2012, according to the Energy Information Administration.

    "The failure of the United States of America, the world's largest consumer, to adopt government policies to enable domestic production to increase and meet these conditions has been nil, nada, nothing, and that is unfortunate for American consumers," Hofmeister said.


    Read more: Domestic Production Eyed As Gas Prices Head Toward Record-breaking Height | Fox News
     
  2. NoNukes
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    NoNukes Gold Member

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    Petrol prices here in Ireland are $8.23 a gallon. You have it easy.
     
  3. chikenwing
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    chikenwing Guest

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    Apples and oranges,Service van went 1100 miles last week in 4 days,how many trips around your Island would that be??
     
  4. paulitician
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    paulitician Platinum Member Supporting Member

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    Yes, lets be more like Ireland. :cuckoo:
     
  5. whitehall
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    whitehall Gold Member

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    War is one way of rescuing people who are too stupid to do it themselves. The US is a super-power who should be independent of foreign oil. Ireland is a two bit little piss-ant country that can't decide whether to become socialist or capitalist and is still fighting a revolution against the English after a couple of hundred years.
     
  6. G.T.
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    G.T. Diamond Member

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    are you going to make a gas prices thread every single day or what
     
  7. Ed Spacer
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    Ed Spacer BANNED

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    Drill drill drill
     
  8. VaYank5150
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    VaYank5150 Gold Member

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    I still haven't seen a single argument that verifies that increasing oil production in the United States would lower gasoline prices in the United States at the pump. Let us not forget that:

    Reuters
    ANALYSIS-US oil firms seek drilling access, but exports soar
    07.03.08, 2:40 PM ET

    United States - By Tom Doggett

    WASHINGTON3 (Reuters) - While the U.S. oil industry want access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

    A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

    The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.

    more...

    http://www.forbes.com/reuters/feeds/reuters/2008/07/03/
     
  9. StevenC
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    StevenC VIP Member

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    What you post may be true. Yet I remember when Bush and the republicans said we would expand oil drilling prices dropped fast. Just the threat of increase drilling would probably lower prices.
    I think the best course of action would be to replace our existing Nuclear plants with two new ones. That would drastically reduse our dependence on oil. Then put serious effort into arternatives. The biggest obsticles to wind and solar is being able to store the energy for when the sun isn't out and the wind drops.
     

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