Want $2 Gas? Choose A New President, Not A New Recession

[Wehrwolfen]

Want $2 Gas? Choose A New President, Not A New Recession​

10/19/2012

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Energy: If we read President Obama right, he's telling us to get used to $4 gas unless we want a replay of the Great Recession. As his running mate might put it, that's pure malarkey.

It took a lot of back and forth and a follow-up by moderator Candy Crowley, but the president finally did respond in Tuesday's debate to the question of whether his administration gives a hoot about the price of gasoline.

Basically, the answer was no.

Here's the key part of the transcript:

Crowley: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

Obama: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.

Notice what Obama asks us to assume — that the only way to get back to prices seen when he took office is to re-create the dismal economy of early 2009.

As our chart here shows, he's simply wrong. There's no discernible link between prosperity and costly gas, or between cheap gas and slumps.


Subscribe to the IBD Editorials Podcast

Only at one point in the past 36 years — in late 2008 and early 2009 — did a drop in gas prices coincide with a recession. But even here the timing wasn't exact.

Prices were spiking well into 2008 even as the economy was losing steam.

And after they bottomed out in 2009, they rose sharply in spite of an abnormally weak recovery.

In fact, gas prices are as likely to fall as to rise when the economy is booming.

They dropped steadily during the 1980s, and they were consistently at or near $2 (adjusted for inflation) throughout the boom years of the 1990s.

It wasn't until 2004 that they started climbing out of the two-buck range.

They were responding then to a sharp rise in the price of crude oil, which typically makes up two-thirds of the retail gasoline price.

Crude simply was not being produced fast enough to meet global needs.


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Want $2 Gas? Choose A New President, Not A New Recession - Investors.com

 

[bodecea]

Want $2 Gas? Choose A New President, Not A New Recession​

10/19/2012

View Enlarged Image

Energy: If we read President Obama right, he's telling us to get used to $4 gas unless we want a replay of the Great Recession. As his running mate might put it, that's pure malarkey.

It took a lot of back and forth and a follow-up by moderator Candy Crowley, but the president finally did respond in Tuesday's debate to the question of whether his administration gives a hoot about the price of gasoline.

Basically, the answer was no.

Here's the key part of the transcript:

Crowley: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

Obama: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.

Notice what Obama asks us to assume — that the only way to get back to prices seen when he took office is to re-create the dismal economy of early 2009.

As our chart here shows, he's simply wrong. There's no discernible link between prosperity and costly gas, or between cheap gas and slumps.


Subscribe to the IBD Editorials Podcast

Only at one point in the past 36 years — in late 2008 and early 2009 — did a drop in gas prices coincide with a recession. But even here the timing wasn't exact.

Prices were spiking well into 2008 even as the economy was losing steam.

And after they bottomed out in 2009, they rose sharply in spite of an abnormally weak recovery.

In fact, gas prices are as likely to fall as to rise when the economy is booming.

They dropped steadily during the 1980s, and they were consistently at or near $2 (adjusted for inflation) throughout the boom years of the 1990s.

It wasn't until 2004 that they started climbing out of the two-buck range.

They were responding then to a sharp rise in the price of crude oil, which typically makes up two-thirds of the retail gasoline price.

Crude simply was not being produced fast enough to meet global needs.


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Want $2 Gas? Choose A New President, Not A New Recession - Investors.com

So...the president directly affects gas prices.

 

[bodecea]

Have to say...someone would have to be REALLY stupid to believe we'll ever see $2 gas again.

 

[Wacky Quacky]

Want $2 Gas? Choose A New President, Not A New Recession​

10/19/2012

View Enlarged Image

Energy: If we read President Obama right, he's telling us to get used to $4 gas unless we want a replay of the Great Recession. As his running mate might put it, that's pure malarkey.

It took a lot of back and forth and a follow-up by moderator Candy Crowley, but the president finally did respond in Tuesday's debate to the question of whether his administration gives a hoot about the price of gasoline.

Basically, the answer was no.

Here's the key part of the transcript:

Crowley: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

Obama: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.

Notice what Obama asks us to assume — that the only way to get back to prices seen when he took office is to re-create the dismal economy of early 2009.

As our chart here shows, he's simply wrong. There's no discernible link between prosperity and costly gas, or between cheap gas and slumps.


Subscribe to the IBD Editorials Podcast

Only at one point in the past 36 years — in late 2008 and early 2009 — did a drop in gas prices coincide with a recession. But even here the timing wasn't exact.

Prices were spiking well into 2008 even as the economy was losing steam.

And after they bottomed out in 2009, they rose sharply in spite of an abnormally weak recovery.

In fact, gas prices are as likely to fall as to rise when the economy is booming.

They dropped steadily during the 1980s, and they were consistently at or near $2 (adjusted for inflation) throughout the boom years of the 1990s.

It wasn't until 2004 that they started climbing out of the two-buck range.

They were responding then to a sharp rise in the price of crude oil, which typically makes up two-thirds of the retail gasoline price.

Crude simply was not being produced fast enough to meet global needs.


Full Page
« « First
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Page:
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Read More IBD:
Want $2 Gas? Choose A New President, Not A New Recession - Investors.com

So...the president directly affects gas prices.

Depends. If the president has the same ideology that you do, then of course not. But if they think differently than you, then he'll yeah they can affect gas prices.

 

[Charles_Main]

Want $2 Gas? Choose A New President, Not A New Recession​

10/19/2012

View Enlarged Image

Energy: If we read President Obama right, he's telling us to get used to $4 gas unless we want a replay of the Great Recession. As his running mate might put it, that's pure malarkey.

It took a lot of back and forth and a follow-up by moderator Candy Crowley, but the president finally did respond in Tuesday's debate to the question of whether his administration gives a hoot about the price of gasoline.

Basically, the answer was no.

Here's the key part of the transcript:

Crowley: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

Obama: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.

Notice what Obama asks us to assume — that the only way to get back to prices seen when he took office is to re-create the dismal economy of early 2009.

As our chart here shows, he's simply wrong. There's no discernible link between prosperity and costly gas, or between cheap gas and slumps.


Subscribe to the IBD Editorials Podcast

Only at one point in the past 36 years — in late 2008 and early 2009 — did a drop in gas prices coincide with a recession. But even here the timing wasn't exact.

Prices were spiking well into 2008 even as the economy was losing steam.

And after they bottomed out in 2009, they rose sharply in spite of an abnormally weak recovery.

In fact, gas prices are as likely to fall as to rise when the economy is booming.

They dropped steadily during the 1980s, and they were consistently at or near $2 (adjusted for inflation) throughout the boom years of the 1990s.

It wasn't until 2004 that they started climbing out of the two-buck range.

They were responding then to a sharp rise in the price of crude oil, which typically makes up two-thirds of the retail gasoline price.

Crude simply was not being produced fast enough to meet global needs.


Full Page
« « First
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Page:
1
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Read More IBD:
Want $2 Gas? Choose A New President, Not A New Recession - Investors.com

So...the president directly affects gas prices.

Energy Policy Effects Gas prices Genius. We have had 4 Years of Obama Energy Policy.

 

[Charles_Main]

Have to say...someone would have to be REALLY stupid to believe we'll ever see $2 gas again.

LOL, we heard that before and yet it happened.

People are stupid alright, just not the ones you think are.

 

[Plasmaball]

Energy Policy Effects Gas prices Genius. We have had 4 Years of Obama Energy Policy.

cute bad its tad more complicated than that.

 

[GoneBezerk]

Oh no....Obamination said we only have $4 gas because the economy is BOOMING.

So when it gets it up to $10/gal with more regulations....the economy will be out of this world.

 

[Mr. H.]

As I've already stated twice, in two different threads, with no replies is... Obama was quite correct.
I also believe the "assumptions" made as a result of his statement are faulty.

That said (for the third time) I still think the guy must absolutely not be re-elected. I don't believe he should have been elected in the first place.

 

[tjvh]

Want $2 Gas? Choose A New President, Not A New Recession​

10/19/2012

View Enlarged Image

Energy: If we read President Obama right, he's telling us to get used to $4 gas unless we want a replay of the Great Recession. As his running mate might put it, that's pure malarkey.

It took a lot of back and forth and a follow-up by moderator Candy Crowley, but the president finally did respond in Tuesday's debate to the question of whether his administration gives a hoot about the price of gasoline.

Basically, the answer was no.

Here's the key part of the transcript:

Crowley: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

Obama: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.

Notice what Obama asks us to assume — that the only way to get back to prices seen when he took office is to re-create the dismal economy of early 2009.

As our chart here shows, he's simply wrong. There's no discernible link between prosperity and costly gas, or between cheap gas and slumps.


Subscribe to the IBD Editorials Podcast

Only at one point in the past 36 years — in late 2008 and early 2009 — did a drop in gas prices coincide with a recession. But even here the timing wasn't exact.

Prices were spiking well into 2008 even as the economy was losing steam.

And after they bottomed out in 2009, they rose sharply in spite of an abnormally weak recovery.

In fact, gas prices are as likely to fall as to rise when the economy is booming.

They dropped steadily during the 1980s, and they were consistently at or near $2 (adjusted for inflation) throughout the boom years of the 1990s.

It wasn't until 2004 that they started climbing out of the two-buck range.

They were responding then to a sharp rise in the price of crude oil, which typically makes up two-thirds of the retail gasoline price.

Crude simply was not being produced fast enough to meet global needs.


Full Page
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« Previous
Page:
1
2
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Last » »


Read More IBD:
Want $2 Gas? Choose A New President, Not A New Recession - Investors.com

So...the president directly affects gas prices.

Ah... Yeah... He kind of does: American Energy Roadblocks by the Obama Administration - House Committee on Natural Resources