If gas hits $4.00 a gallon in May

Discussion in 'Economy' started by JimH52, Feb 16, 2012.

  1. JimH52
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    JimH52 Gold Member

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    it will disrupt any economic recovery. O needs to get on the phone and get the Saudi's to increase output. That is if he wants a second term... The Iranian saber rattling is providing an excuse of sky rocketing crude prices.
     
  2. CaughtInTheMid
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    CaughtInTheMid Active Member

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    my wife and i always talk about how prices seem to be manipulated around elections. if oil companies favor a party, it would be to their advantage to jack prices up when they want a president out. and, as corrupt as politics are these days, i wouldn't doubt that it's done.
     
  3. Middleoftheroad
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    Middleoftheroad Active Member

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    The Bush family had connections to the Saudis and they couldn't even get them to increase their oil production in 2008 when gas prices were skyrocketing well above $4 per gallon. It is well out of Obama's hand to get gas prices down and even out of the Saudi's hands as they are part of OPEC. Ultimately OPEC decides how much total those countries produce and Saudi only gets one vote.
     
  4. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    When Hillary Clinton was running for President, she pitched a big old hissy-fit and lambasted Bush because the gas prices were so high. As you know, Bush was a Republican. Obama is a Democrat and the gas prices have risen over 80% since he's been in office. I guess that is acceptable because he's a Democrat. Obviously, high gas prices do not matter in this country unless a Republican is in office. Seems that way to me. If Obama was really interested in getting the cost of gas down, he would have allowed that pipeline from Canada to go forward. He would also be saying "Drill, Baby, Drill..."
     
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  5. Middleoftheroad
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    First are you really suggesting that no one is complaining about gas prices? Do you realize that you are posting on a thread about gas prices?
    Second the XL pipeline would have done nothing to decrease gas prices. Gas prices are about world supply. That oil is going to be turned into gas one way or the other. The XL pipeline debate is about jobs, profit and trade deficit. Not about gas prices.
    Third you are also comparing $4.50 a gallon when hillary was complaining to 3.50 a gallon now.
    No one is saying that the gas prices today are ok because Obama is a democrat, No one is saying that they are ok period. But lets try and be realistic about it. If we took away every single regulation that stops or slows down oil production and encouraged new exploration and new wells through subsidization and America was pumping out as much oil as possible, you are honestly looking at about a 10-15 cent decrease in the price of gas at the pump. The real benefit is jobs, not a decrease in price.
     
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  6. JimH52
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    JimH52 Gold Member

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    I still think Gas Prices could save or lose Obama's second term. Each time the econmy improves, gas prices jump. Then convervely when they spike and the economy slumps, they drop.

    But Iran is the wild card. If they try to block the Strait of Hormuz or if they bring sabber rattling higher, gas prices will spike even if there is a glut of oil.
     
  7. Middleoftheroad
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    I pretty much agree with everything you said. The only real question is what price of gas can the economy withstand. I think it can still grow at $3.50 a gallon. $4 is a pretty tough call, with anything much higher likely (imo) to severly cut growth for the economy.
     
  8. hjmick
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    hjmick Gold Member

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  9. Trajan
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    Trajan conscientia mille testes

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    by May??? its $4 here now...
     
  10. Trajan
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    Trajan conscientia mille testes

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    IF I were the Saudi family, I would tell him yea, we may help out ( we are not the only ones buying hello) BUT, we want you to sell the advanced bunker busters to Israel and give them some more air to air tankers...
     

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