Obamagas to drop below $2 a gallon nationwide

[NoTeaPartyPleez]

Bahahahaaaaaaaaaaa......Love it. ObamaGas!

Freaking oil market is crashing. I said last week that it was deja vu all over again, having been gainfully employed in the O&G industry in Houston in 1985. Today the WSJ seems to agree.

Falling gas prices are bad news for anyone employed in that sector, and for any bank which made loans to that sector, but rockin good news for everyone else.

I don't suppose we can count on Hillary whining about "excess losses" in the oil industry during this cycle, though.

It's just not gonna' make people cry if there's layoffs in the oil patch.
253,000,000 cars and trucks on the road in the U.S. right now. 300,000+/- employed by the oil patch. So the unemployment rate will go up 1%. It will be worth it. Every dime.
I got through the oil crash in 1986 without going on federal assistance or even unemployment. They can too.

 

[NoTeaPartyPleez]

List the things that Obama has done to drive oil & gas prices down.......

OK!

Safe and Responsible Oil and Gas Production as Part of President Obama s All-of-the-Above Energy Strategy The White House

Onshore, nearly 36.1 million acres of federal land were under lease to oil and gas companies last year. Of that land, over 12.6 million acres were actively producing oil and gas – the highest acreage under production since 2008. Last year, the Interior Department’s Bureau of Land Management (BLM) held 30 separate oil and gas lease sales, offering 5.7 million acres for lease by industry, the most in a decade.

Even as sales have gone up, processing time for onshore drilling permits has gone down – last year, it took an average of 194 days to process an APD, down from 228 in 2012 and faster than any time since 2005.

Offshore, the Interior Department’s Bureau of Ocean Energy Management (BOEM) offered 59 million acres for lease by industry in the Gulf of Mexico last year, and industry submitted bids on 3 percent of these acres, resulting in $1.3 billion in high bids. The current Five Year Offshore Oil and Gas Leasing Program includes 15 potential lease sales in six planning areas that comprise some of the richest and most promising areas for oil and gas exploration and development.

Ouch, those righties just HATE it when you give 'em the facts.

 

[BULLDOG]

Here's another piece of information for you. Since the price of oil is so low, you have now taken the incentive for companies to take a risk out of the equation. The price of oil will go back up as those newly found fields dry up. When the price gets high enough, more people will get back in and look for other sources. It is a vicious cycle.

Barry just happens to be the sitting President when the work of the last 7 years has come to fruition.

The fields won't dry up. The price will drop so low till the smaller companies go out of business. Then, big oil will grab them at pennies on the dollar, and keep them in reserve until the price goes back up. Isn't that a wonderful thought? The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

 

[rightwinger]

Lets see.....

Obamagas under $2
Unemployment down to 5.6%

Republicans........He didn't do that

 

[Toddsterpatriot]

Here's another piece of information for you. Since the price of oil is so low, you have now taken the incentive for companies to take a risk out of the equation. The price of oil will go back up as those newly found fields dry up. When the price gets high enough, more people will get back in and look for other sources. It is a vicious cycle.

Barry just happens to be the sitting President when the work of the last 7 years has come to fruition.

The fields won't dry up. The price will drop so low till the smaller companies go out of business. Then, big oil will grab them at pennies on the dollar, and keep them in reserve until the price goes back up. Isn't that a wonderful thought? The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

How do we subsidize them? Any specifics?

 

[Lakhota]

Where is EconChick to address this issue?

 

[BULLDOG]

Here's another piece of information for you. Since the price of oil is so low, you have now taken the incentive for companies to take a risk out of the equation. The price of oil will go back up as those newly found fields dry up. When the price gets high enough, more people will get back in and look for other sources. It is a vicious cycle.

Barry just happens to be the sitting President when the work of the last 7 years has come to fruition.

The fields won't dry up. The price will drop so low till the smaller companies go out of business. Then, big oil will grab them at pennies on the dollar, and keep them in reserve until the price goes back up. Isn't that a wonderful thought? The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

How do we subsidize them? Any specifics?

Bill Moyers released this about an hour ago, but it is far from all the ways oil is pampered by the US
One Year of Big Oil Subsidies Could Insure 5.5 Million Children BillMoyers.com

 

[Remodeling Maidiac]

Asian demand is down, EU demand is down, Domestic production is up, Saudi is pupmpin WIDE FUCKING OPEN ..

REFINED PRODUCTS ARE DOWN.

supply and demand ...


you're welcome btw.

Aka: Drill baby drill

You're welcome

 

[Toddsterpatriot]

Here's another piece of information for you. Since the price of oil is so low, you have now taken the incentive for companies to take a risk out of the equation. The price of oil will go back up as those newly found fields dry up. When the price gets high enough, more people will get back in and look for other sources. It is a vicious cycle.

Barry just happens to be the sitting President when the work of the last 7 years has come to fruition.

The fields won't dry up. The price will drop so low till the smaller companies go out of business. Then, big oil will grab them at pennies on the dollar, and keep them in reserve until the price goes back up. Isn't that a wonderful thought? The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

How do we subsidize them? Any specifics?

Bill Moyers released this about an hour ago, but it is far from all the ways oil is pampered by the US
One Year of Big Oil Subsidies Could Insure 5.5 Million Children BillMoyers.com

The deduction of standard business expenses isn't a subsidy.
Any real subsidies to back up your claim?

 

[BULLDOG]

Asian demand is down, EU demand is down, Domestic production is up, Saudi is pupmpin WIDE FUCKING OPEN ..

REFINED PRODUCTS ARE DOWN.

supply and demand ...


you're welcome btw.

Aka: Drill baby drill

You're welcome

There certainly has been a lot of new drilling that produced a lot of new oil. How exactly do you think the president prevented or tried to prevent that? Also, which do you think instigated all that drilling, that silly slogan, or the newly accessible oil fields?

 

[Pogo]

 

[BULLDOG]

Here's another piece of information for you. Since the price of oil is so low, you have now taken the incentive for companies to take a risk out of the equation. The price of oil will go back up as those newly found fields dry up. When the price gets high enough, more people will get back in and look for other sources. It is a vicious cycle.

Barry just happens to be the sitting President when the work of the last 7 years has come to fruition.

The fields won't dry up. The price will drop so low till the smaller companies go out of business. Then, big oil will grab them at pennies on the dollar, and keep them in reserve until the price goes back up. Isn't that a wonderful thought? The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

The companies with the highest profits in the history of the world get bigger, and we still subsidize them at the expense of the poor and middle class.

How do we subsidize them? Any specifics?

Bill Moyers released this about an hour ago, but it is far from all the ways oil is pampered by the US
One Year of Big Oil Subsidies Could Insure 5.5 Million Children BillMoyers.com

The deduction of standard business expenses isn't a subsidy.
Any real subsidies to back up your claim?

Here is one that costs us 1.67 billion per year.
Under normal income tax rules, a company that pays expenses in order to make future profits would need to deduct the expenses over the same time period as profits. The costs for drilling exploratory and developmental wells would need to be deducted as resources are extracted from the well.

The break for intangible drilling costs (IDCs) is an exception to the general rule. Independent producers can choose to immediately deduct all of their intangible drilling costs.

 

[GreenBean]

National gas prices to soon fall below 2

Nationally, regular unleaded gasoline currently averages about $2.12 a gallon, down 46 cents from just four weeks ago and $1.01 cheaper than year-ago levels.
Gas prices are also expected to fall more than previously forecast for the full year

Not bad for a community organizer






.

Federal oil & gas creation IS DOWN dumbass. The increase is from the PRIVATE SECTOR.

Gas prices are low DESPITE Obama.

Fucking lib idiot

Do I detect the smell of sour grapes?

The record setting drop in the price of Obamagas is sending conservatives who predicted $5 plus gas (sound familiar gramps?) into a tizzy

You are a dumb motherfucker. My thread never mentioned Obama & it was grounded in reality as compared to this donkey fart bullshit you're peddling as an Obama accomplishment. You're an embarrassment to fellow democrats

Why would you continue to identify with that morally , fiscally and ideologically bankrupt Political Party ???? Seriously Gramps !!

 

[BULLDOG]

I'll hang on to that chart for teabaggers who claim Obama has been bad for drilling in the US.

 

[mudwhistle]

I'll hang on to that chart for teabaggers who claim Obama has been bad for drilling in the US.

An increase in production has nothing to do with him. New technology has led to the increase.

Fucking dumbass.

Fracking has allowed them to reopen old wells.

 

[Pogo]

I'll hang on to that chart for teabaggers who claim Obama has been bad for drilling in the US.

An increase in production has nothing to do with him. New technology has led to the increase.

Fucking dumbass.

Where did anyone say it does?

Fucking dumbass.

I for one keep having to remind the unwashed that "we" don't drill or produce oil; private enterprise does.

 

[Kosh]

Yes a Soros funded study is what the far left will reach for and believe without question or hesitation..

This thread is another perfect example of why the far left should never be in charge of anything.

 

[deltex1]

National gas prices to soon fall below 2

Nationally, regular unleaded gasoline currently averages about $2.12 a gallon, down 46 cents from just four weeks ago and $1.01 cheaper than year-ago levels.
Gas prices are also expected to fall more than previously forecast for the full year

Not bad for a community organizer



.

If you're talking about the real obama gas....it's never been worth a dime.

I wouldn't say obamagas will go down to a dime.....but 99 cents is possible

I would award you 5 Katyushas but I don't want to rain on your fantasy parade.

DuhTex, don't even try to spar with rightwinger, unless you enjoy public humiliation.

What...you gave her a blow job last night and now you're defending her honor? I am chastened and fucking trembling.

 

[mudwhistle]

I'll hang on to that chart for teabaggers who claim Obama has been bad for drilling in the US.

An increase in production has nothing to do with him. New technology has led to the increase.

Fucking dumbass.

Where did anyone say it does?

Fucking dumbass.

I for one keep having to remind the unwashed that "we" don't drill or produce oil; private enterprise does.

Exactly.

Some of these monosynaptic mouthbreathers are desperate to credit Obama with this however.

 

[BULLDOG]

I'll hang on to that chart for teabaggers who claim Obama has been bad for drilling in the US.

An increase in production has nothing to do with him. New technology has led to the increase.

Fucking dumbass.

Fracking has allowed them to reopen old wells.

Government funded technology. Oil people like to credit Mitchell for development of fracking, but he would have never done it without government funding. He drilled 37 or 38 wells testing those methods before he ever had to put a penny of his own money into it. Government grants paid for all of that.