Gasoline Increased 100% Since Obama Became President

[Bear12feet]

“The day that the president became president gasoline was $1.79 a gallon. Look at what it is today,” she said at an event in Greenville, S.C.. “Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.”

The average price for a gallon of gasoline is currently $3.58 per gallon, according to AAA.

Americans will save at the pump if Michele Bachmann is elected president, the Minnesota Republican said Tuesday.

Bachmann: I'll get gas under $2 - Dan Berman and Molly Ball - POLITICO.com

 

[Bear12feet]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

 

[Moonglow]

Gas was higher during Bush. But it is not the president who sets gas or oil prices. It is out of their control.

 

[edthecynic]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because oil is a monopoly, and as such can charge any price they want. Supply is up and demand is down but the price is high, proving that market forces do not control prices when a monopoly is in place.

 

[expat_panama]

Gasoline Increased 100% Since Obama Became President

If that makes Obama bad then gas prices falling since last month or since 2008 makes him good?

 

[Mr. H.]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because oil is a monopoly, and as such can charge any price they want. Supply is up and demand is down but the price is high, proving that market forces do not control prices when a monopoly is in place.

That's nonsense.

 

[Immanuel]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because oil is a monopoly, and as such can charge any price they want. Supply is up and demand is down but the price is high, proving that market forces do not control prices when a monopoly is in place.

That's nonsense.

I hate to give any indication that I agree with Edthecynic in any way shape or form, but how is that nonsense?

Well, technically, Big Oil is not a monopoly. Technically the oil companies are price fixing which is, I believe, illegal so it is in fact not a monopoly. Phew! I don't agree with Ed! Thank goodness.

Immie

 

[edthecynic]

Because oil is a monopoly, and as such can charge any price they want. Supply is up and demand is down but the price is high, proving that market forces do not control prices when a monopoly is in place.

That's nonsense.

I hate to give any indication that I agree with Edthecynic in any way shape or form, but how is that nonsense?

Well, technically, Big Oil is not a monopoly. Technically the oil companies are price fixing which is, I believe, illegal so it is in fact not a monopoly. Phew! I don't agree with Ed! Thank goodness.

Immie

You patted yourself on the back just a little too soon. While it is illegal to OWN a monopoly, it is quite legal to CONTROL one. If you remember, when the government tried to break up the Rockefeller oil monopoly, John D the first simply switched control from his holding company to his bank. Banks are immune from antitrust laws. Banks have accounts like pension funds and they buy stock which is OWNED by the pension fund but the bank VOTES the stock proxies. Thus the Rockefeller family still CONTROLS their oil monopoly without owning it.

 

[Mr. H.]

For all the Congressional hearings over the years, it's yet to be proven there is a monopoly or even prices manipulation.

 

[edthecynic]

For all the Congressional hearings over the years, it's yet to be proven there is a monopoly or even prices manipulation.

The Rockefeller family controls Congress and BOTH parties, so what else would you expect.

After the Standard Oil monopoly was supposedly broken up, some shareholders tried to oust John D from the board. After divestiture on paper Rockefeller only owned 25% of Standard Oil, but in the vote whether to keep him on the board, he VOTED 60% of the proxies. The Rockefeller family has never relinquished their hold on their oil monopoly.

 

[Bear12feet]

Reply to me:

Obama raised the price to get you to buy an electric from government motors. You got the communism you voted for.

There is definately some manipulation going on in gasoline price and crude oil price.

 

[expat_panama]

...There is definately some manipulation going on in gasoline price and crude oil price.

Before anyone runs to get their tinfoil hats on we need to think about just who it is that we're seeing doing all this manipulation:

Obama banned drilling.

Obama signed gas taxes.

Obama pushes curbs on fuel use.
​

OK, so Obama also blames price hikes on oil producers who're competing to lower prices, but we need to face the reality that if Obama reversed his anti gas policies the price would plummet over night.

 

[yidnar]

Gas was higher during Bush. But it is not the president who sets gas or oil prices. It is out of their control.

BULL !!gas jumped up in prices temporarily because of a disruption in supply caused by Katrina...Bush lifted the ban on additional offshore drilling and that caused gas prices to plummet...One of the 1st things the economic killing commy libtard Obama did is re.instate the ban!!

 

[editec]

Gasoline Increased 100% Since Obama Became President

Yeah, so?

Isn't the invisible hand of the market in charge of that?

 

[edthecynic]

Gas was higher during Bush. But it is not the president who sets gas or oil prices. It is out of their control.

BULL !!gas jumped up in prices temporarily because of a disruption in supply caused by Katrina...Bush lifted the ban on additional offshore drilling and that caused gas prices to plummet...One of the 1st things the economic killing commy libtard Obama did is re.instate the ban!!

Bullshit!
The price was high because speculators were buying and storing the commodity keeping it off the market to force the price up. The price started to plummet when there was no more storage facilities left, before Bush's token lifting of the ban which was meaningless because Congress and states had not lifted their bans.

Obama is allowing offshore drilling to all companies who can do it safely, and oil production is up from the time Obama took office. Production is up and demand is down, so supply and demand have nothing to do with current high prices.

 

[edthecynic]

...There is definately some manipulation going on in gasoline price and crude oil price.

Before anyone runs to get their tinfoil hats on we need to think about just who it is that we're seeing doing all this manipulation:

Obama banned drilling.

Obama signed gas taxes.

Obama pushes curbs on fuel use.
​

OK, so Obama also blames price hikes on oil producers who're competing to lower prices, but we need to face the reality that if Obama reversed his anti gas policies the price would plummet over night.

[ame="http://www.youtube.com/watch?v=cTpHxhZqpgE"]Obama Administration Says No To Gas Tax Increase - YouTube[/ame]

Obama Won
Obama Won’t Propose Gas-Tax Increase to Build Roads, LaHood Says


By John Hughes - Jan 26, 2011 2:05 PM ET
President Barack Obama’s upcoming budget won’t include a gasoline-tax increase to fund highway construction, U.S. Transportation Secretary Ray LaHood said.
Lahood told reporters today in Washington that the administration has always opposed gas-tax increases and “that still stands.”

 

[expat_panama]

Gasoline Increased 100% Since Obama Became President

Yeah, so? Isn't the invisible hand of the market in charge of that?

Basically that's my take too. Sure Obama didn't lower the price any with his gas taxes, drilling bans, industry attacks, but as bad as all that the bottom line is that Obama just isn't that important.

 

[edthecynic]

Gasoline Increased 100% Since Obama Became President

Yeah, so? Isn't the invisible hand of the market in charge of that?

Basically that's my take too. Sure Obama didn't lower the price any with his gas taxes, drilling bans, industry attacks, but as bad as all that the bottom line is that Obama just isn't that important.

You gotts just love CON$, no matter how many times you expose their bullshit, they just pile it on some more!

 

[Mr. H.]

Ed, I'm interested in why you think gasoline hit $1.00/gallon back in 1999.

Also, if there's a "controlled" market out there why isn't it $5.00/gallon? After all, it would reap some really big profits for the oil industry.

 

[edthecynic]

Ed, I'm interested in why you think gasoline hit $1.00/gallon back in 1999.

Also, if there's a "controlled" market out there why isn't it $5.00/gallon? After all, it would reap some really big profits for the oil industry.

If gas was $5 per gallon, demand would fall through the floor, and alternate energy would be cost effective. Independent producers would be able to compete with the oil monopoly.

The oil monopoly controls the supply and the price, and no amount of increased drilling will change that because whenever there is a new find, the new wells are capped rather than the new oil going on the market. Just think back to the BP Deepwater Horizon leak. That was a huge find, but it was capped rather than put on the market. The cap was faulty leading to the explosion, and then the well was recapped. The only oil ever to go on the market from that well was the oil skimmed from the leak.

That is why Obama outsmarted the oil monopoly and helped Brazil produce oil. Brazil will put the oil they find on the market, much to the dismay of the oil monopoly and CON$ervatives!!!