Government can't do anything about gas prices? Then how did Bush lower it in 2008?

[Nosmo King]

Seriously. I find it hard to believe this person can operate a computer and find the internet with logic like that.

Surely one can recognize a "natural" amount of oil seepage and a dangerous amount? Holy hell. Let's just **** up the planet and ask for a reset?

Do you even know what the natural amount of seepage is? How much is "dangerous?"

I find it hard to believe this person can operate a computer and find the internet with smug ignorance like that.

Hey! BP! Are you trying to sell the absurdity that the Deep Water Horizon accident is comparable to 'natural seepage"? What contempt you have for the intellects of the human species!

 

[DaGoose]

I said oil demand in China and India is going to decrease in the short term due to increases in prices and recent events in Japan. I never said anything about long-term demand.

Oil is not used to produce electricity..........

Uhhh.....yes it is in some power plants.

.

 

[NYcarbineer]

U.S. 2008 oil demand to drop most since 1980: EIA

WASHINGTON | Wed Nov 12, 2008 1:53pm EST

WASHINGTON (Reuters) - The weak U.S. economy will slash America's oil demand this year by 1.1 million barrels per day, or 5.4 percent, the first time annual oil consumption will fall by more than 1 million bpd since 1980, the federal Energy information Administration said on Wednesday.

U.S. 2008 oil demand to drop most since 1980: EIA | Reuters

 

[bripat9643]

Do you even know what the natural amount of seepage is? How much is "dangerous?"

I find it hard to believe this person can operate a computer and find the internet with smug ignorance like that.

Hey! BP! Are you trying to sell the absurdity that the Deep Water Horizon accident is comparable to 'natural seepage"? What contempt you have for the intellects of the human species!

So tell us, genius, how much natural seepage is there in the Gulf and how much oil from spills is "dangerous?" Feel free to provide a liberal quantity of cites to support your claims.

 

[bripat9643]

I said oil demand in China and India is going to decrease in the short term due to increases in prices and recent events in Japan. I never said anything about long-term demand.

Oil is not used to produce electricity..........

Uhhh.....yes it is in some power plants.

.

Perhaps in backup generators in hospitals. Natural gas is far cheaper. Coal is cheaper still. Why would anyone use oil to make electricity?

 

[NYcarbineer]

Do you even know what the natural amount of seepage is? How much is "dangerous?"

I find it hard to believe this person can operate a computer and find the internet with smug ignorance like that.

Hey! BP! Are you trying to sell the absurdity that the Deep Water Horizon accident is comparable to 'natural seepage"? What contempt you have for the intellects of the human species!

So tell us, genius, how much natural seepage is there in the Gulf and how much oil from spills is "dangerous?" Feel free to provide a liberal quantity of cites to support your claims.

I think the amount of money that BP is paying in damages should prove the point.

 

[bripat9643]

So tell us, genius, how much natural seepage is there in the Gulf and how much oil from spills is "dangerous?" Feel free to provide a liberal quantity of cites to support your claims.

I think the amount of money that BP is paying in damages should prove the point.

All that proves is the ability of a Marxist thug to extort money from private corporations using the full force of the United States.

Don't think anyone failed to notice that you posted no figures on natural seepage. What a surprise!

Since you and nimrod are too lazy to look it up, I'll provide the figures for you:

Putting the Gulf Oil Spill into perspective - Natural oil seepage from the oceans' floor is common!

The truth is oil is a natural part of our oceans. In the Gulf of Mexico alone, over 5,000 barrels of oil a day (220,000 gallons a day, over 80 million gallons a year!)seeps out from vents in the earth into the ocean. It’s part of the natural cycle, but few will speak of this truth today.

 

[Modbert]

*WHOOPS* Looks like young Padiwan Clodbert isn't paying attention.

Looks like neither of you are paying attention to what I've posted twice now.

 

[Annie]

Commodities markets are regulated.

What does that have to do with anything?

Why should someone hold a chair on the market or trade on the floor if they do not intend to actually receive the goods? The markets can go on trading freely among
CONSUMERS not profiteers. It's a simple, easily enforced and reasonable solution.

if 'A' wants to sell 1000 barrels of oil to 'B' and doesn't require 'B' to take delivery of it, what business of yours is it? What right to you have to interfere in a totally voluntary transaction that both parties believe to be in their best interest? Do you think you should also be allowed to prevent the guy down the street from selling his house?

The guy selling his house down the street can 1) affect my property value but, more to the point 2) most likely sells his house to the resident of that home.

When profiteers ratchet up the cost of commodities just to make a buck, those costs are passed on to the final consumer of the commodity. If they do not intend to actually buy and take delivery of a commodity, why should their activities (which only benefit them) raise the cost for the consumer? Read my convenience store/Snicker's bar analogy.

Except there's no proof from any of you or Obama that the speculators are at the bottom of this, any more than in 2008. In fact, the last 3 pages or so, finally we all came to the conclusion that supplies are down due to Asian demands. Which contrary to speculation on the board, hasn't shown signs of easing soon. The only solution to lowering prices is increasing supplies, which we have the capability of doing and should do so.

 

[KissMy]

Obama Admits No Plan To Reduce Gas Prices

[ame="http://www.youtube.com/watch?v=OKzPMIu8zhk&feature=related"]Obama Admits No Plan To Reduce Gas Prices[/ame]

Obama's answer to Gas Prices caused prices to keep on rising.

[ame="http://www.youtube.com/watch?v=v8fkbEuCQss"]Obama's answer to Gas Prices caused prices to keep on rising.[/ame]

Obama Supports High Gas Prices!

[ame="http://www.youtube.com/watch?v=t4Tmi_fpUHs"]Obama Supports High Gas Prices![/ame]

George Bush's answer to gas prices caused prices to plummet $112 down to $33.

[ame="http://www.youtube.com/watch?v=FusqAtX0OJ8&NR=1"]George Bush's Answer / Oil Prices Fall $112[/ame]

I like GWB's answer the best. Bam! Oil falls $112

 

[The T]

What does that have to do with anything?



if 'A' wants to sell 1000 barrels of oil to 'B' and doesn't require 'B' to take delivery of it, what business of yours is it? What right to you have to interfere in a totally voluntary transaction that both parties believe to be in their best interest? Do you think you should also be allowed to prevent the guy down the street from selling his house?

The guy selling his house down the street can 1) affect my property value but, more to the point 2) most likely sells his house to the resident of that home.

When profiteers ratchet up the cost of commodities just to make a buck, those costs are passed on to the final consumer of the commodity. If they do not intend to actually buy and take delivery of a commodity, why should their activities (which only benefit them) raise the cost for the consumer? Read my convenience store/Snicker's bar analogy.

Except there's no proof from any of you or Obama that the speculators are at the bottom of this, any more than in 2008. In fact, the last 3 pages or so, finally we all came to the conclusion that supplies are down due to Asian demands. Which contrary to speculation on the board, hasn't shown signs of easing soon. The only solution to lowering prices is increasing supplies, which we have the capability of doing and should do so.

And to which OBAMA refuses to do...he instead imposes moratorium. EPA tells Shell Oil to **** off regarding ALASKA...and smugly Obama tells us to "Get used to it"...?

Unelected EPA bureaucrats tell an Oil Comapny NO?

Really?

 

[The T]

Obama can LOSE his re-election on this issue ALONE.

 

[Toro]

Sure I have little doubt that on the day that when Bush made that announcement the price of oil went down. It may have in fact triggered the top. However to ascribe the subsequent decline and collapse is absolutely assinine. It would take 5 to 10 years to start drawing large amounts of oil out of the new blocks in the Gulf. That isn't going to trigger a collapse in oil. We long knew of the gas in shale but that didn't stop nat gas from rising to $17. It was only once fracking became widespread did we see natty really collapse. Simply knowing it's there doesn't cause a plunge. Only when it becomes feesible to pull it out of the ground does it really affect prices. FFS Cushing is swimming in oil and WT is at $113. The market worries more about the upcoming shoulder season or the next inventory report than some hypothetical supply source a decade out.

No, oil didn't collapse because of Bush's announcement. It collapsed for the same reason why all commodities collapsed - because of an enormous debt deflation caused by the collapse of one of the biggest asset bubbles of all time. Trying to play politics betrays an enormous ignorance of economic history.

This thread is a testament to mankind's gullibility and willingness to believe anything as long as it confirms with one's own beliefs.

How do you explain these facts Toro?

In the previous months leading up to Bush lifting the OCS ban these events transpired & prices continued to soar.

- Candidate Obama & many Democrats threatened to tax oil & oil companies.
- Congress & Bush opened the Strategic Petroleum Reserve for Oil (SPRO).
- Congress signaled it's intent to let the OCS Ban expire.
- Congress threatened & held investigations into high oil prices.

Like I said all of these events I listed above transpired & prices continued to soar.

So explain how when all the oil numbers & report only come out on Wednesdays. That means when oil stocks, draw downs, supply & demand were tallied up & the Cushing Oklahoma oil storage was lower than expectations on Wednesday July 9th 2008 so the oil speculators drove prices up over the next 2 days culminating in a new all-time high $147.27 trade on Friday July 11th 2008. These traders were willing to head into the weekend holding the most expensive oil ever purchased because they knew that Monday July 14th 2008 was going to bring even higher oil prices & that following Wednesdays lower oil inventories were going to drive prices even higher.

Except when that Monday July 14th 2008 came around President Bush had a big surprise waiting for these crude oil speculators. Bush lifted the Executive Order banning drilling in the OCS & at that moment crude oil fell & kept falling. Oil prices slid $112 & remained at those mid $30 lows until Obama took office. Note that Obama said during his campaign he preferred higher oil prices. All in all President Obama's plan closed more areas of America’s OCS than it opened, and the areas it opened are only open after study periods and subject to Congressional approval.

DECEMBER 12, 2008 WSJ: Times Tough for Energy Overhaul

President-elect Barack Obama plans soon to introduce his energy and environment team, which will include Nobel Prize-winning physicist Steven Chu as energy secretary and former Environmental Protection Agency Administrator Carol Browner as White House energy adviser. The team's makeup shows that Mr. Obama plans to put a heavy emphasis on combating climate change and promoting technologies to wean the U.S. off imported oil...

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

Bill Clinton: Drilling delays 'ridiculous'

Former President Bill Clinton said Friday that delays in offshore oil and gas drilling permits are “ridiculous” at a time when the economy is still rebuilding... Bill Clinton reportedly criticized delays in oil drilling permits since last year's spill in the Gulf.

Everything else is just smoke & mirrors. The economy & oil demand did not collapse before Bush opened the OCS. The Lehman collapse was on September 15th 2008, Bush opened the OCS & oil dropped more than 2 months earlier on July 14th 2008. These big banks were heavily invested in crude oil. They own more crude oil than the oil companies do. The sharp drop in oil price hit the banks hard & likely triggered their collapse.

 

[The T]

What Obama hasn't LEARNED YET is that telling a REAL AMERICAN that they can't DO something is like playing with dynamite with a lit fuse...

 

[Modbert]

It's not letting me rep you but thank you bringing reasonable points to the discussion as always Toro.

 

[Annie]

To quote a not so long ago President, it's the economy, stupid:

The American Spectator : Obamaflation Arrives

Obamaflation Arrives

By Jeffrey Lord on 4.26.11 @ 6:09AM

President Obama will not be re-elected. Period.

Why?

Obamaflation has arrived, and this is what it looks like.

Milk. A gallon of skim. At the local Giant in Central Pennsylvania:

January 11, 2011: $3.20
February 28, 2011: $3.24
March 6, 2011: $3.34
April 23. 2011: $3.48

That would be a 28 cent rise in a mere 102 days, from January to April of this year. The third year of the Obama misadventure.

Then there's the celery. Same sized bag. Same store.

January 11, 2011: $1.99 a bag.
March 6, 2011: $2.49 a bag.

A rise of 50 cents in 54 days.

And the gas price during the administration filled with those who think "drill baby drill" is so yesterday? As one Internet photo had it, the numbers for regular, premium. and diesel were replaced with "LOL," "OMG," and "WTF!" Thus be it to governments who seem not to understand that energy is what makes the economic engine -- and your car -- hum.

What does this mean? It means Barack Obama is not going to be re-elected president of the United States. Period...

Now one can assume the milk costs might be local or temporary. Food prices? Not with gasoline where it is. Not with Obama administration determination not to open reserves or open drilling.

 

[CRStar]

Gas will always be a weapon of any govt. They blame speculators, Gadaffi, Katrina, a broken pipe line in AZ or anything To make an excuse to raise the price, this corrupt failed govt has an excuse, they are trying to recover a few trillion that the Messiah blew out the door.

 

[Charles_Main]

Why are we not talking about the Vast Natural Gas Deposits just opened up by new Technology right here in are own back yard. 100 Years worth they say in this one find. Why are we not converting more Vehicles to burning natural gas? What is the road block? Cleaner burning than Gas, and Abundant here at home.

Whats not to like?

 

[The T]

To quote a not so long ago President, it's the economy, stupid:

The American Spectator : Obamaflation Arrives

Obamaflation Arrives

By Jeffrey Lord on 4.26.11 @ 6:09AM

President Obama will not be re-elected. Period.

Why?

Obamaflation has arrived, and this is what it looks like.

Milk. A gallon of skim. At the local Giant in Central Pennsylvania:

January 11, 2011: $3.20
February 28, 2011: $3.24
March 6, 2011: $3.34
April 23. 2011: $3.48

That would be a 28 cent rise in a mere 102 days, from January to April of this year. The third year of the Obama misadventure.

Then there's the celery. Same sized bag. Same store.

January 11, 2011: $1.99 a bag.
March 6, 2011: $2.49 a bag.

A rise of 50 cents in 54 days.

And the gas price during the administration filled with those who think "drill baby drill" is so yesterday? As one Internet photo had it, the numbers for regular, premium. and diesel were replaced with "LOL," "OMG," and "WTF!" Thus be it to governments who seem not to understand that energy is what makes the economic engine -- and your car -- hum.

What does this mean? It means Barack Obama is not going to be re-elected president of the United States. Period...

Now one can assume the milk costs might be local or temporary. Food prices? Not with gasoline where it is. Not with Obama administration determination not to open reserves or open drilling.

It's a HUGE part of his plan to take us down. A country without energy ceases to exist.

Obama is OK with it.

 

[CRStar]

Long live nuclear power. Ha....one nuclear tablet in my gas tank and I can drive forever.