Gas Prices Dropping Because Global Economy Awful. Expect That To Hurt Americans As Well.

[NYcarbineer]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

So it wasn't a good economy?

lol, so why are you trying to claim that it's now a bad economy that's lowering gas prices? And it's Obama's fault.

Are you really this stupid, or are you simply trying to play to the stupidity of your fellow RWnuts?

 

[Redfish]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

Gas prices fell to under 80 cents a gallon in 1986.

Was that because of Reagan's floundering economy?

80 cents in 1986 plus 28 years of inflation = _____________

Gas was about 1.30 a gallon when Reagan took office. It fell to 80 cents by 1986.

According to YOUR claims, that means that the economy sucked and Reagan was to blame for it.

Do you agree, or do you want to reveal that your claim was just partisan nonsense?

if you would get your head out of obama's ass you might understand that I said there are many factors that affect the price of oil, our economy being only one of them.

 

[Redfish]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

So it wasn't a good economy?

lol, so why are you trying to claim that it's now a bad economy that's lowering gas prices? And it's Obama's fault.

Are you really this stupid, or are you simply trying to play to the stupidity of your fellow RWnuts?

your stupidity is legendary on this message board. There are many factors that affect the price of oil. the actions of the president on the economy is one of them. Acts of God is another, OPEC is another, the number of drilling permits issued by the govt is another, right now shale production is increasing supply, that coupled with a stagant economy has brought the price down.

I never said it was all on the president, but some of it always is, no matter who sits in the oval office.

 

[NYcarbineer]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

So it wasn't a good economy?

lol, so why are you trying to claim that it's now a bad economy that's lowering gas prices? And it's Obama's fault.

Are you really this stupid, or are you simply trying to play to the stupidity of your fellow RWnuts?

your stupidity is legendary on this message board. There are many factors that affect the price of oil. the actions of the president on the economy is one of them. Acts of God is another, OPEC is another, the number of drilling permits issued by the govt is another, right now shale production is increasing supply, that coupled with a stagant economy has brought the price down.

I never said it was all on the president, but some of it always is, no matter who sits in the oval office.

Stop flailing.

 

[NYcarbineer]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

So it wasn't a good economy?

lol, so why are you trying to claim that it's now a bad economy that's lowering gas prices? And it's Obama's fault.

Are you really this stupid, or are you simply trying to play to the stupidity of your fellow RWnuts?

your stupidity is legendary on this message board. There are many factors that affect the price of oil. the actions of the president on the economy is one of them. Acts of God is another, OPEC is another, the number of drilling permits issued by the govt is another, right now shale production is increasing supply, that coupled with a stagant economy has brought the price down.

I never said it was all on the president, but some of it always is, no matter who sits in the oval office.

Maybe you should learn plain English and say what you mean the first time, because what you said is this:

"...yes the president gets the blame for both rising and falling gas prices..."

So, that means Reagan gets the BLAME for falling prices in the eighties.

Bush gets the BLAME for rising prices in the 2000's. And he gets the BLAME when prices fell back.

Two grossly incompetent presidents when it comes to gas prices.

Correct?

 

[Mertex]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

And, the President is totally responsible for Republicans in Congress sitting on their butts and not approving anything he tries to pass that could change some things? Of course, because you have a Faux News spin for everything.

 

[Mertex]

So all the high gas prices during the Carter administration were a sign of Carter's great economy?

OPEC cut the supply, once again----------supply and demand sets the price.

Oh, I thought you just said Obama's policies were responsible.........

 

[Mertex]

Everyone knows gas prices are dropping because demand around the world is dropping for just about everything.

That means demand for people's jobs and services will drop too.

Expect the global slowdown to impact our own job market. A lower gas price won't be much consolation if more people become jobless.

The root of the problem???

Big spenders around the globe are driving their economies into the ditch. Just like Obama's doing.

I thought Obama was responsible for the price of gas dropping....
I saw a lot of Libs here thanking the President.
Well maybe in a way it was...

Gas prices are falling because we've found a lot of oil in the US and there is a lot of supply.

The US economy is growing at a healthy 3% clip.

Not exactly.....

The US economy’s bounce-back last quarter from a dismal winter was even faster than previously thought, a sign that growth will likely remain solid for rest of the year.

The economy as measured by gross domestic product grew at a 4.6 per cent annual rate in the April-June quarter, the Commerce Department said today. It was the fastest pace in more than two years and higher than the government’s previous estimate of 4.2 per cent.

US economy growing faster than previously thought

 

[Mertex]

And just to make conservatives even more irate:



Since World War II, there's been a strikingly consistent pattern in American politics: The economy does much better when a Democrat is in the White House.

More specifically, since 1947, the U.S. economy has grown at an average real rate of 4.35 percent under Democratic presidents and just 2.54 percent under Republicans:

The U.S. economy does better under Democratic presidents is it just luck - The Washington Post

 

[Eric Cartman]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

Gas prices fell to under 80 cents a gallon in 1986.

Was that because of Reagan's floundering economy?

80 cents in 1986 plus 28 years of inflation = _____________

CPI Inflation Calculator

 

[Eric Cartman]

l

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

I thought your link was for a Texas state tax.

Except the economy is growing and demand is increasing. The Saudis are flooding the market with reduced priced crude to cripple the shale production in the US and Canada. Shale production is only profitable when crude is over $80 a barrel. WTI is at $77 a barrel and has been as low as $75 a barrel.

Oil Price Fall Threatens US Oil Production

Oil Price Fall Threatens US Oil Production By STEVE AUSTIN for OIL-PRICE.NET, 2014/11/04

A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA's recent fracking boom will come to an end. Forces are at play to end the USA's projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA's long-term key supplier, Saudi Arabia, doesn't want to lose grip on its best customer.

High-tech US oil producers need $80 per barrel to be profitable. Saudis need only $50.

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

Do state taxes always go to the federal treasury?

 

[Redfish]

l

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

I thought your link was for a Texas state tax.

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

Do state taxes always go to the federal treasury?

of course not, did anyone say they did?

 

[NYcarbineer]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

So it wasn't a good economy?

lol, so why are you trying to claim that it's now a bad economy that's lowering gas prices? And it's Obama's fault.

Are you really this stupid, or are you simply trying to play to the stupidity of your fellow RWnuts?

your stupidity is legendary on this message board. There are many factors that affect the price of oil. the actions of the president on the economy is one of them. Acts of God is another, OPEC is another, the number of drilling permits issued by the govt is another, right now shale production is increasing supply, that coupled with a stagant economy has brought the price down.

I never said it was all on the president, but some of it always is, no matter who sits in the oval office.

Maybe you should learn plain English and say what you mean the first time, because what you said is this:

"...yes the president gets the blame for both rising and falling gas prices..."

So, that means Reagan gets the BLAME for falling prices in the eighties.

Bush gets the BLAME for rising prices in the 2000's. And he gets the BLAME when prices fell back.

Two grossly incompetent presidents when it comes to gas prices.

Correct?

Comon now, let's not always see the same hands...