When oil was under 45 dollars a gallon under Reagan, what was the price at the pump

[Manonthestreet]

Gas When Bush Left Office, $1.78 -- Gas Today, $3.64 -- Highest Average Price in Calif., $4.20 Gas When Bush Left Office 1.78 -- Gas Today 3.64 -- Highest Average Price in Calif. 4.20

Let's not use the price when Bush left office as it was low due to no demand because of the crashing economy. I mean we could get the price down to that today if we laid off 5 million people.

right lest not use the price it was cause ........inconvenient......doesnt lend itself to propaganda...?????

 

[TheOldSchool]

2-1

From your link:

"Just before Bush left office at the end of 2008, gas prices were cut in half within a couple of months as the economy crashed."

So that's what you're judging Bush by?

Hey everyone! Bush crashed the economy! So for a tiny percentage of his Presidency at the very end after he destroyed our economy, gas was cheap again for like 2 seconds!

let's do it again....

Yeah! And this time let's get stoned beforehand

 

[Manonthestreet]

You do realize US oil consumption is still down..... United States Crude Oil Consumption by Year Thousand Barrels per Day

 

[TheOldSchool]

You do realize US oil consumption is still down..... United States Crude Oil Consumption by Year Thousand Barrels per Day

Good. Oil is the fuel of the past, not the future.

 

[Manonthestreet]

Motorists also played a role in the rise, however. In 2013, the nation's demand for gasoline rose for the first time since 2007, ticking up to 8.8 million barrels per day—despite government efforts to cut gasoline use by mixing more ethanol into every gallon of the fuel, data from the Energy Information Administration show.

While the 2013 figures are well below the nation's peak oil and gasoline demand levels, the return to higher consumption is discouraging for those looking for lower U.S. oil use and a reduction in carbon emissions. America s Oil Consumption Is Rising Not Falling Outpacing China s InsideClimate News

 

[Manonthestreet]

SO why isnt price even lower now....cant have it both ways

 

[nuhuh]

just curious

The cost to refine the oil into gasoline has gone up considerably with inflation as has everything else. Just because the price of oil is the same does not mean the price of the end product will be the same. It is reasonable to expect that the end price would be much higher today, thirty years later.

Very true, there hasn't been a major new refinery built since 1976. Some will blame that on a heavily regulated environmental government but the evidence shows that the petroleum industry hasn't done much in the way of innovation, or improvisation around the problem either. Depending on circumstances, either shutdowns for maintenance, or as in California, shutting down for seasonal retooling only allows gas companies to benefit from rising prices in either event.

 

[depotoo]

 

[Moonglow]

During Reagan the price dropped after deregulation, I was over a dollar, then went to under a dollar a gallon...But it ruined oil producing states..

 

[Moonglow]

just curious

The cost to refine the oil into gasoline has gone up considerably with inflation as has everything else. Just because the price of oil is the same does not mean the price of the end product will be the same. It is reasonable to expect that the end price would be much higher today, thirty years later.

Very true, there hasn't been a major new refinery built since 1976. Some will blame that on a heavily regulated environmental government but the evidence shows that the petroleum industry hasn't done much in the way of innovation, or improvisation around the problem either. Depending on circumstances, either shutdowns for maintenance, or as in California, shutting down for seasonal retooling only allows gas companies to benefit from rising prices in either event.

They just built a huge new one that foreigners built 3 years ago...

 

[whitehall]

Average high gas price for a presidential term is Woodrow Wilson $3.40 per gallon. Lowest gas average for a presidential term is Bill Clinton $1.70 per gallon. The average over 100 years is Democrats $2.63 a gallon and Republicans $2.55 a gallon yet the fight is always so serious and the reality is so different.

Woodie Wilson? Democrats get a low average over 100 years because mostly democrats controlled the presidency. The biggest jump in gas prices happened during the unfortunate presidency of the peanut farmer.

 

[Moonglow]

2-1

From your link:

"Just before Bush left office at the end of 2008, gas prices were cut in half within a couple of months as the economy crashed."

So that's what you're judging Bush by?

Hey everyone! Bush crashed the economy! So for a tiny percentage of his Presidency at the very end after he destroyed our economy, gas was cheap again for like 2 seconds!

let's do it again....

Yeah! And this time let's get stoned beforehand

Why not!!??

 

[nuhuh]

just curious

The cost to refine the oil into gasoline has gone up considerably with inflation as has everything else. Just because the price of oil is the same does not mean the price of the end product will be the same. It is reasonable to expect that the end price would be much higher today, thirty years later.

Very true, there hasn't been a major new refinery built since 1976. Some will blame that on a heavily regulated environmental government but the evidence shows that the petroleum industry hasn't done much in the way of innovation, or improvisation around the problem either. Depending on circumstances, either shutdowns for maintenance, or as in California, shutting down for seasonal retooling only allows gas companies to benefit from rising prices in either event.

They just built a huge new one that foreigners built 3 years ago...

I think there are something like 18 new projects that will boost production to 600,000 barrels a day to be built between now and 2018. I also know that Kinder Morgan has built a plant that will produce 100,000 gallons a day but for export and there is increasing action from a number of companies to do the same, concentrating on a foreign market for business relationships.

 

[nuhuh]

Average high gas price for a presidential term is Woodrow Wilson $3.40 per gallon. Lowest gas average for a presidential term is Bill Clinton $1.70 per gallon. The average over 100 years is Democrats $2.63 a gallon and Republicans $2.55 a gallon yet the fight is always so serious and the reality is so different.

Woodie Wilson? Democrats get a low average over 100 years because mostly democrats controlled the presidency. The biggest jump in gas prices happened during the unfortunate presidency of the peanut farmer.

We were addressing the question from over a hundred years of averages. Republicans won the game by .8cents, perhaps the issue is best debated from the development of refineries and delivery systems point.

 

[Moonglow]

When oil was deregulated my old Papa had put his money into Conoco stock, He lost it after the oil price crash...ruined exploration of US oil companies for 20 years...

 

[Carla_Danger]

Gas When Bush Left Office, $1.78 -- Gas Today, $3.64 -- Highest Average Price in Calif., $4.20 Gas When Bush Left Office 1.78 -- Gas Today 3.64 -- Highest Average Price in Calif. 4.20

 

[BlindBoo]

Crazy how it jumped from $1.681 to $4.114 in just one administration.

Was back down close to that when he left ........

No it wasn't. Put the Kool Aid down.

Consider that the average price of a regular gallon of gas at U.S. pumps was $1.85 when Bush was sworn in for his second term in January 2005 and $1.84 when Obama took office in January 2009 on the promise of change, according to the U.S. Energy Information Administration. Trick question Who had higher gas prices Obama or Bush - San Jose Mercury News Dumbass

Doesn't get more disingenuous than that. Hmmm, anything going on with the economy to make the price fall from over $4.00 a gallon during the summer of 2008 to it a low below $2.00 in 2009?

Anything at all?

 

[Moonglow]

Crazy how it jumped from $1.681 to $4.114 in just one administration.

Was back down close to that when he left ........

No it wasn't. Put the Kool Aid down.

Consider that the average price of a regular gallon of gas at U.S. pumps was $1.85 when Bush was sworn in for his second term in January 2005 and $1.84 when Obama took office in January 2009 on the promise of change, according to the U.S. Energy Information Administration. Trick question Who had higher gas prices Obama or Bush - San Jose Mercury News Dumbass

Doesn't get more disingenuous than that. Hmmm, anything going on with the economy to make the price fall from over $4.00 a gallon during the summer of 2008 to it a low below $2.00 in 2009?

Anything at all?

Yeah, the Oblama recession, as told by a GOP member...

 

[BlindBoo]

the price at the pump varies, but what was the cost for a barrel of oil in comparison

Each grade of crude has a little different breakdown but .....

What Does One Barrel of Crude Oil Make - Gasbuddy Gas Prices

 

[Jackson]

Crazy how it jumped from $1.681 to $4.114 in just one administration.

Wars can do that.