Government can't do anything about gas prices? Then how did Bush lower it in 2008?

[Uncensored2008]

NOW you believe what scientists have to say?

Do you now agree with them on global warming?

.

Scientists dummy, not priests.

 

[TheBrain]

President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:

Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."



That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

Of course it's deliberate, by those who control the oil supply, and guess what? That isn't Obama. Sure the strategic supply could release a few thousand barrels, and that might drop the price a few bucks a barrel, but that isn't going to change the price of gasoline much.

Now the government COULD lower or eliminate the gas tax temporarily giving us some relief on gas, but as for the other. My question to you would be this.

Why do you want the government dictating to private companies what they may charge for a product? That's socialism, and I want none of it.

 

[Soggy in NOLA]

Wasn't it also President Bush's fault that the price of gas increased?

The extinction of the dinosaurs was the fault of Bush....

And the plague.

 

[Annie]

President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:

Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."



That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

Of course it's deliberate, by those who control the oil supply, and guess what? That isn't Obama. Sure the strategic supply could release a few thousand barrels, and that might drop the price a few bucks a barrel, but that isn't going to change the price of gasoline much.

Now the government COULD lower or eliminate the gas tax temporarily giving us some relief on gas, but as for the other. My question to you would be this.

Why do you want the government dictating to private companies what they may charge for a product? That's socialism, and I want none of it.

Government can't do anything about gas prices? Then why did this happen in 2008? | Mark Tapscott | Beltway Confidential | Washington Examiner

Government can't do anything about gas prices? Then why did this happen in 2008?
By: Mark Tapscott 04/26/11 6:12 PM
Editorial Page Editor Follow Him @mtapscott

...Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."

HT: Will Collier at Pajamas Media and Metalprices.com, which compiled the chart.

 

[dilloduck]

I too believe that a healthy commodities market is a good thing. But I do not believe that profiting on speculation without the intent of actually taking delivery of that commodity is a very bad thing.

The analogy I like to cite is; I walk into a convenience store to buy a Snicker's bar. The candy is marked $.75 I pick up a Snicker's and, as I walk toward the counter someone with a price gun decides that my candy should be priced at $.80! Then, someone else marks the price at $.90. When I get to the clerk, someone else puts a $1.00 price tag on my candy. None of these folks ever intended to eat that candy bar. I pay the $1.00 and the clerk divvies up the $.25 markup between the three interlopers. I still have to pay a marked up price as the final consumer. The increase is just profit for those with access to a price gun.

How does this action serve to encourage more folks to buy Snicker's bars? Why should those folks marking up the price make as profit on something they never intended to buy in the first place?

Agreed.

How do we change behaviors?

My suggestion might do it EXCEPT that the futures business could easily migrate offshore and that would not serve our interests, either.

Commodities markets are regulated. Why should someone hold a chair on the market or trade on the floor if they do not intend to actually receive the goods? The markets can go on trading freely among
CONSUMERS not profiteers. It's a simple, easily enforced and reasonable solution.

Speculation my ass. Can't we just call it gambling and stop the charade ? We pay more for fuel because of gamblers and the dollar is dropping against oil. The consumer can do nothing but bend over.

 

[Uncensored2008]

Speculation my ass. Can't we just call it gambling and stop the charade ?

What's the difference? Hen, chicken, it's all the same.

We pay more for fuel because of gamblers and the dollar is dropping against oil. The consumer can do nothing but bend over.

Obama can stop it and reverse the gouging.

Two items; release the strategic reserves. Flood the market and destroy the futures of the gamblers. Obama should do this TODAY! Secondly, place a moratorium on federal gas taxes for 90 day or a year in an attempt to forestall the recession/depression that the fuel spike is driving.

 

[BlindBoo]

The Saudi "king" Likes blowjobs. Dubya delivered.

Douger the Obamarrhoidal Idiot: By cutting oil production, or rather ELIMINATING oil production in the United States, and not initiating any Nuclear facilities the MONUMENTAL FRAUD, Pathological LIAR, amd MuslimArselicking MARXIST Obami Salaami is not only giving BJs, but is buttfucked by the Saudis, you fucking moron.

THERE IS NO OTHER VALID INTERPRETATION of this POS's behaviour as America's Prez.

Newsflash:

Despite the moratorium on deep water drilling (no they did not plug any well that was producing) in the Gulf of Mexico, US oil production increased last year.

The US is the third largest producer of crude oil in the world.

This President has done a piss poor job of ELIMINATING oil Production you fucking lying POS moroonie.

 

[sinister59]

President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:

Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."

Read all here: Government can't do anything about gas prices? Then why did this happen in 2008? | Mark Tapscott | Beltway Confidential | Washington Examiner

That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

simple like your brain . a president can release government oil into the public .

we have reserves and george used the threat plus geore is an oil man you7 know as is chanye . now how could Lower prices ?

teabaggers bitch like crazy but don't have a clue on whats real

 

[auditor0007]

President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:

Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."

Read all here: Government can't do anything about gas prices? Then why did this happen in 2008? | Mark Tapscott | Beltway Confidential | Washington Examiner

That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

The reason had little to do with actual supply and demand though. What it did have to do with was the speculation on future supplies. Much of what we pay for oil goes to speculators who drive up the price based on pure speculation that supplies are diminishing. If the oil industry was completely based on supply and demand, then prices would have increased, but not by nearly as much as they have.

 

[auditor0007]

Speculation my ass. Can't we just call it gambling and stop the charade ?

What's the difference? Hen, chicken, it's all the same.

We pay more for fuel because of gamblers and the dollar is dropping against oil. The consumer can do nothing but bend over.

Obama can stop it and reverse the gouging.

Two items; release the strategic reserves. Flood the market and destroy the futures of the gamblers. Obama should do this TODAY! Secondly, place a moratorium on federal gas taxes for 90 day or a year in an attempt to forestall the recession/depression that the fuel spike is driving.

It is the futures markets that are driving the price through the roof. It really has little to do with actual supply and demand.

 

[uscitizen]

Government can't do anything about gas prices? Then how did Bush lower it in 2008?

He didn't.

The market did.

Why?

Demand was down.

Why?

The economy collapsed.

Nice work, Brownie!

Yeah the OP is sort of a duhhh to me.

We have another worldwide recession and the price of oil will drop again.

 

[Uncensored2008]

The reason had little to do with actual supply and demand though. What it did have to do with was the speculation on future supplies.

Correct, which is why releasing the strategic reserves is vital, it breaks the back of the speculators.

Much of what we pay for oil goes to speculators who drive up the price based on pure speculation that supplies are diminishing. If the oil industry was completely based on supply and demand, then prices would have increased, but not by nearly as much as they have.

Correct again.

 

[Uncensored2008]

It is the futures markets that are driving the price through the roof. It really has little to do with actual supply and demand.

Yeah, which is why I posted "Flood the market and destroy the futures of the gamblers." I don't mean destroy their personal futures, I mean the pyramid scheme they have created with the futures market. Oil futures are a Ponzi scheme on the level of the housing bubble. It will burst and it will seriously damage the market. No one cares because Washington has made gambling a risk-free activity. When the bubble bursts, FedGov will bail out the well connected and the public will get hosed yet again.

Ain't fascism grand?

 

[DaGoose]

Read all here: Government can't do anything about gas prices? Then why did this happen in 2008? | Mark Tapscott | Beltway Confidential | Washington Examiner

That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

"President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico."

Isn't that what led us to the worst oil spill in history of the world?

.

Yes, you are confused. You probably don't know this, but we've been drilling in the Gulf for DECADES.

BTW... the Gulf Oil Disaster was caused by a f'd up BOP.

No wonder you're in a union. You're too dumb to make it on your own.

Wow. You're really jealous of unions, aren't you?

Why else would you keep harping on that?

Look, public union members get what they get because they EARNED it. And what private unions do and get is none of your damned business. If you don't want to work in a unionized place then don't apply at them and STFU.

Now either expanding off shore drilling is good or not. What's YOUR opinion? (I'll give you some time to research what Rush Limbaugh says before you answer.)

.

 

[Uncensored2008]

Look, public union members get what they get because they EARNED it.

In the same way that Al Capone got what he got because he earned.

Fraud and coercion are legitimate in the minds of the pigs feeding from the public trough.

 

[Nosmo King]

Conservatives have been well trained, that's a certainty. The business leaders seem to have gotten the word to the 'pundits' to disparage unions and voilà, unions are on the Conservative radar as a 'threat'.

The rich got the word to the 'pundits' that their taxes are too high and voilà, the poorest Conservative would rather have his own tax rate increased than raise the rates on the rich even by a little.

Industrialists got the word out that environmental protections and workplace safety regulations are expensive if they haven't considered them thus far. The 'pundits' made up terms like enviro-whackos and even a Conservative who lives in Love Canal, NY sees the EPA as the threat.

And those Conservatives will argue till they're blue in the face that Liberals are stupid.

Incredible, ain't it?

 

[DaGoose]

Look, public union members get what they get because they EARNED it.

In the same way that Al Capone got what he got because he earned.

Fraud and coercion are legitimate in the minds of the pigs feeding from the public trough.

And that affects you how? If it does, please explain. If not then STFU.

.

 

[Soggy in NOLA]

"President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico."

Isn't that what led us to the worst oil spill in history of the world?

.

Yes, you are confused. You probably don't know this, but we've been drilling in the Gulf for DECADES.

BTW... the Gulf Oil Disaster was caused by a f'd up BOP.

No wonder you're in a union. You're too dumb to make it on your own.

Wow. You're really jealous of unions, aren't you?

Why else would you keep harping on that?

Look, public union members get what they get because they EARNED it. And what private unions do and get is none of your damned business. If you don't want to work in a unionized place then don't apply at them and STFU.

Now either expanding off shore drilling is good or not. What's YOUR opinion? (I'll give you some time to research what Rush Limbaugh says before you answer.)

.

Jealous of a union? Perhaps you mean union members.. and no. I have no need to join a union. Anyhoo, yes, I am in favor of furthered oil drilling. There is plenty of oil, contrary to what Al Gore says, and it is INSANE to be loaning money to foreign countries to drill in our back yard while choking off domestic companies from drilling and putting literally thousands on Americans out of work. Ya wanna see the peculators drive the price through the floor? Announce and energy plan that says we're gonna drill baby drill.

And frankly, why would I consult with Rush? Oh, that's right.. you're a union guy who has to run his opinions past the union bosses.

 

[Uncensored2008]

And that affects you how? If it does, please explain. If not then STFU.

.

Where do you think the money the public employees gorge themselves on at the trough comes from?

 

[DaGoose]

And that affects you how? If it does, please explain. If not then STFU.

.

Where do you think the money the public employees gorge themselves on at the trough comes from?

It comes from the taxpayers who hired them to do the jobs that they're doing every day, jobs like picking up your garbage, fixing your roads and teaching your stupid kids. You hired, you pay them. So stop your bitching.

.