In 2012 who said. 'We can't just drill our way to lower gas prices'

[ShootSpeeders]

I guess it's not fair to expect obozo to know anything. He's an affirmative action baby . I doubt he can even read.

Obama in Miami We can t just drill our way to lower gas prices Tampa Bay Times

February 23, 2012 2:26pm
"Now, some politicians always see this as a political opportunity. You’re shocked, I know," Obama says in prepared remarks. "Last week, the lead of one news story said, “Gasoline prices are on the rise, and Republicans are licking their chops.” Only in politics do people greet bad news so enthusiastically. You pay more, and they’re licking their chops? And you can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas. I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling. We heard the same thing in 2007, when I was running for President. We hear the same thing every year. We’ve heard the same thing for thirty years.

"Well the American people aren’t stupid. You know that’s not a plan – especially since we’re already drilling. It’s a bumper sticker. It’s not a strategy to solve our energy challenge. It’s a strategy to get politicians through an election. You know there are no quick fixes to this problem, and you know we can’t just drill our way to lower gas prices."

 

[Pogo]

What's your point? It's true.

First of all "we" don't drill anything. Oil companies do that, and those are profit-based corporations, which means they act on behalf of stockholders, not citizens, not customers, and not whatever flag flies overhead. So whether Oil Company A drills in Spot X or not depends on whether it's going to be profitable. For them -- not for "us".

Second, oil is an international fungible commodity and its price is determined on the international market. Whether "we" (meaning "they") drill in Spot X or not has in effect no effect on that. So it's absolutely true, we cannot drill our way to lower gas prices. Even if it was "we" who do the drilling, which it isn't.

So what's your point?

 

[Siete]

without OPEC you cant drill your way to lower gas prices .


duuuurrrrrrrrr

 

[Mr. H.]

Those ass-fucking drillers.

 

[Dad2three]

I guess it's not fair to expect obozo to know anything. He's an affirmative action baby . I doubt he can even read.

Obama in Miami We can t just drill our way to lower gas prices Tampa Bay Times

February 23, 2012 2:26pm
"Now, some politicians always see this as a political opportunity. You’re shocked, I know," Obama says in prepared remarks. "Last week, the lead of one news story said, “Gasoline prices are on the rise, and Republicans are licking their chops.” Only in politics do people greet bad news so enthusiastically. You pay more, and they’re licking their chops? And you can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas. I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling. We heard the same thing in 2007, when I was running for President. We hear the same thing every year. We’ve heard the same thing for thirty years.

"Well the American people aren’t stupid. You know that’s not a plan – especially since we’re already drilling. It’s a bumper sticker. It’s not a strategy to solve our energy challenge. It’s a strategy to get politicians through an election. You know there are no quick fixes to this problem, and you know we can’t just drill our way to lower gas prices."

Weird, you think oil prices going down were mainly US drilling? lol

Demand has slowed because Europe is an economic wreck, China is right behind and only the US is moving forward


"The mistake that the (oil producing) guys in the Middle East made is that, when you have a $100 (per barrel) oil price, it behooves you to do R-and-D on every possible thing you can do to have energy," she notes.

...And as for what dramatically lower oil prices might mean for the oil-producing countries of OPEC, the cartel "has itself to blame," Jaffe says, "because they held the price up, artificially high, for too long, and allowed all these competitive forces to put them out of business."

What is pushing oil and gas prices lower - CBS News



Economist: Low gas prices likely are temporary
Economist Low gas prices likely are temporary Local - KY3.com

 

[Zander]

Obama is a moron.

 

[occupied]

Our low oil prices are a strictly temporary phenomena. If they continue for too long the profitability of production will fall. Production will then be scaled back until prices go back up.

 

[AmericanFirst]

What's your point? It's true.

First of all "we" don't drill anything. Oil companies do that, and those are profit-based corporations, which means they act on behalf of stockholders, not citizens, not customers, and not whatever flag flies overhead. So whether Oil Company A drills in Spot X or not depends on whether it's going to be profitable. For them -- not for "us".

Second, oil is an international fungible commodity and its price is determined on the international market. Whether "we" (meaning "they") drill in Spot X or not has in effect no effect on that. So it's absolutely true, we cannot drill our way to lower gas prices. Even if it was "we" who do the drilling, which it isn't.

So what's your point?

Then why are the Iranians upset about the falling oil prices?

 

[Vigilante]

On November 27, Saudi Arabia and its 11 partners in the Organization of the Petroleum Exporting Countries (OPEC) failed to agree on production cuts, causing a steep drop in oil prices to their lowest levels in five years.
As SA contributor Michael Fitzsimmons correctly pointed out, the reason for maintaining the 30 million barrels a day of oil output is that Saudi Arabia wants to defend its market share and learn the threshold of pain of U.S. shale producers. In his article, which I suggest everyone must read, Fitzsimmons explains how Saudi Arabia could sacrifice roughly $138 million of oil revenues a day to learn the breaking point of U.S. shale producers. That said, the Saudis "might be surprised at how long it takes" to find this out.

Oil Producers Saudi Arabia Knows Exactly What Must Be Done Seeking Alpha