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

[bripat9643]

lol

Yeah, 'cause everyone knows that the best way to get reelected is to drive up the price of gas and piss everyone off.

Obama said he wants the price of gas to go up so his various "green energy" scams will become practical.

No one ever won an election by promising to raise taxes, but that appears to be obama's plan as well.

 

[CRStar]

Bottom line, Obomination does not have a plan, he never had a plan and will never have a plan. This is the CHANGE the dim witted left voted for.

 

[Uncensored2008]

Bottom line, Obomination does not have a plan, he never had a plan and will never have a plan. This is the CHANGE the dim witted left voted for.

Sadly he does have a plan, just as Brian posted. His plan is to drive the cost of oil so high that the "green" boondoggles become viable.

Gasoline at $17 a gallon will make ethanol viable. Obama is dedicated to making this a reality.

 

[sinister59]

Look, public union members get what they get because they EARNED it.

In the same way that Al Capone got what he got because he earned.

Fraud and coercion are legitimate in the minds of the pigs feeding from the public trough.

prove it

 

[Uncensored2008]

prove it

Pay your toll? I don't think so little troll...

 

[KissMy]

Bottom line, Obomination does not have a plan, he never had a plan and will never have a plan. This is the CHANGE the dim witted left voted for.

Sadly he does have a plan, just as Brian posted. His plan is to drive the cost of oil so high that the "green" boondoggles become viable.

Gasoline at $17 a gallon will make ethanol viable. Obama is dedicated to making this a reality.

Ethanol is already viable. We are exporting it with no tax credits or subsidies & turning a profit.

 

[CRStar]

LMAO...OOOPS, my bad....I forgot about his plan to send the defict into trillions...maybe he wants us to be like a third world country...gee...Kenya comes to mind

 

[sinister59]

prove it

Pay your toll? I don't think so little troll...

we don't have toll road , thats for chumps .
but back to it how again do you say unions are the same as a criminal like Capone ? a little proof with you name calling please .
say do you work ? do you like the 40 hour week or prefer you employer have that say ? I know work comp is a bag of shit and when they show you the people cart and identify your limbs like cuts of meat . but at least we have something , not a teabagger telling you be happy you had a job .

holidays ? like them ? a minimum wages not what ever your boss want to pay you , thats good right ?

then say thank unions .

 

[Annie]

Even Dems from oil producing states are getting ticked at the nonsense coming from the administration:

Cole: "The president doesn't know squat about energy production" | Mark Tapscott

By Mark Tapscott
Created Apr 27 2011 - 12:38pm
Cole: "The president doesn't know squat about energy production"
Comments (0)

Oklahoma is one of the nation's top energy states, so it's no surprise that its senators and representatives are opposed to President Obama's energy and environmental policies. What is surprising, however, is the intensity of their reactions to Obama's proposal to do away with $4 billion worth of energy industry tax breaks.

The proposal was contained in a letter from the president to Congress, but Sen. Jim Inhofe, the Sooner state's senior senator, noted that the Democratic Senate has voted 61-35 against the idea just a few months ago. "He now wants Congress to do exactly the opposite," Inhofe told the Daily Oklahoman. "His letter is merely a distraction from what every American knows can help restrain rising prices: increase supply, that is, increase American energy production."

Similarly, Rep. Tom Cole, minced no words, saying Obama "doesn't know squat about energy production." As a result, Cole added in an interview with the Oklahoman, "we get great politics out of the White House. We just don't get great policy" because the president doesn't understand the differences in operations and priorities between an Exxon Mobil and a small independent producer.

Similarly, Rep. Dan Boren, Cole's Democratic colleague on the Oklahoma delegation, told the Tulsa World that the president should either lead in the right direction on energy issues or get out of the way so somebody else can do it: "Americans are tired of empty rhetoric on both sides and want a real plan. If the president doesn't want to stand up and be a leader, then his silence would be appreciated from people who are trying to find solutions.''

...

Institute for Energy Research vice president Dan Kish isn't from Oklahoma, but he know energy issues as well as anybody in the nation's capital. He's not impressed with Obama's call on OPEC to remember that higher energy prices hurt the U.S. economy (a reminder that no doubt elicited a flood of crocodile tears from its recipients).

Here's Kish:

“The president now says his administration is pushing major oil producers to increase oil output in an effort to lower prices. What he really needs is to have someone tell the government of the world’s third largest oil producer to boost output. In case he is unaware, that oil producer is the United States.

“He could do that at his next cabinet meeting by telling EPA to stop holding up Shell’s drilling in Alaska and by telling Secretary Salazar to stop closing access to our nation’s energy supplies, which the Congressional Research Service says are larger than any country on earth.

“The president is beginning to look like the Ugly American in his attempts to point the finger of blame anywhere but his record, which includes seeking higher taxes on energy and stopping energy production wherever possible. It requires a suspension of disbelief to accept his protests about higher energy prices when that is his policy. His chickens are coming home to roost.”

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2173rank.html

So how far is the US behind #2?

This entry is the total oil produced in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.

The IER would be a good place for some of the administration minions to spend some time:

Institute for Energy Research | Institute for Energy Research

 

[Modbert]

Oil production has nothing to do with the current rising gas prices. It's due to the manipulation of the commodities market on Wall Street. It's the same thing that happened back in 2008.

Those who are saying that the U.S need to catch up to the rest of the world and drill more oil are ignorant on the subject.

http://www.photius.com/rankings/economy/oil_production_2011_0.html

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2176rank.html

#3 in the World in Oil Production, #13 in Oil Exporting.

And Saudi Arabia and Libya supposedly being the countries we import oil from the most? Forget about it.

Vehicle Technologies Program: Fact #664: February 28, 2011 2010 U.S. Petroleum Imports by Country

The U.S. imported almost 12 million barrels per day in 2010, according to data for the first ten months of the year. Canada, Mexico and other non-OPEC countries are the top three places from which the U.S. imported petroleum. Saudi Arabia, Nigeria, and Venezuela – which are all OPEC nations – each provided the U.S. with about one million barrels per day of petroleum. Libya, also part of OPEC, provided the U.S. with only 76 thousand barrels per day.

Libya provides 76,000 barrels per day. And that's supposedly the cause of the increase in oil to the point where it's at? Anyone who believes that, I have a bridge in Brooklyn to sell you cheap.

 

[Mr. H.]

It was Clinton that sent his toady Richardson on a world tour, hat in hand, requesting the same.
Freakin' Democrats.

 

[Mr. H.]

Oil production has nothing to do with the current rising gas prices. It's due to the manipulation of the commodities market on Wall Street. It's the same thing that happened back in 2008.

Those who are saying that the U.S need to catch up to the rest of the world and drill more oil are ignorant on the subject.

http://www.photius.com/rankings/economy/oil_production_2011_0.html

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2176rank.html

#3 in the World in Oil Production, #13 in Oil Exporting.

And Saudi Arabia and Libya supposedly being the countries we import oil from the most? Forget about it.

Vehicle Technologies Program: Fact #664: February 28, 2011 2010 U.S. Petroleum Imports by Country

The U.S. imported almost 12 million barrels per day in 2010, according to data for the first ten months of the year. Canada, Mexico and other non-OPEC countries are the top three places from which the U.S. imported petroleum. Saudi Arabia, Nigeria, and Venezuela – which are all OPEC nations – each provided the U.S. with about one million barrels per day of petroleum. Libya, also part of OPEC, provided the U.S. with only 76 thousand barrels per day.

Libya provides 76,000 barrels per day. And that's supposedly the cause of the increase in oil to the point where it's at? Anyone who believes that, I have a bridge in Brooklyn to sell you cheap.

True, yet there is much to be said about increasing domestic oil and gas production as a means of reducing imports, keeping petro-dollars within our own borders, and increasing jobs.

After all, weren't we sold up the river re: ethanol as a means of reducing oil and products imports? And what are we doing now? We're exporting record amounts of ethanol.

 

[Annie]

Oil production has nothing to do with the current rising gas prices. It's due to the manipulation of the commodities market on Wall Street. It's the same thing that happened back in 2008.

Those who are saying that the U.S need to catch up to the rest of the world and drill more oil are ignorant on the subject.

http://www.photius.com/rankings/economy/oil_production_2011_0.html

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2176rank.html

#3 in the World in Oil Production, #13 in Oil Exporting.

And Saudi Arabia and Libya supposedly being the countries we import oil from the most? Forget about it.

Vehicle Technologies Program: Fact #664: February 28, 2011 2010 U.S. Petroleum Imports by Country

The U.S. imported almost 12 million barrels per day in 2010, according to data for the first ten months of the year. Canada, Mexico and other non-OPEC countries are the top three places from which the U.S. imported petroleum. Saudi Arabia, Nigeria, and Venezuela – which are all OPEC nations – each provided the U.S. with about one million barrels per day of petroleum. Libya, also part of OPEC, provided the U.S. with only 76 thousand barrels per day.

Libya provides 76,000 barrels per day. And that's supposedly the cause of the increase in oil to the point where it's at? Anyone who believes that, I have a bridge in Brooklyn to sell you cheap.

True, yet there is much to be said about increasing domestic oil and gas production as a means of reducing imports, keeping petro-dollars within our own borders, and increasing jobs.

After all, weren't we sold up the river re: ethanol as a means of reducing oil and products imports? And what are we doing now? We're exporting record amounts of ethanol.

Modbert's argument that we're #3 so stop already just doesn't make sense. Huge source of U.S. oil: North Dakota's Bakken - Mar. 9, 2011

Increase our output and build more refineries. That doesn't mean that companies shouldn't look for breakthroughs on what are being called 'green' alternatives, but are in reality just alternatives.

 

[Modbert]

True, yet there is much to be said about increasing domestic oil and gas production as a means of reducing imports, keeping petro-dollars within our own borders, and increasing jobs.

After all, weren't we sold up the river re: ethanol as a means of reducing oil and products imports? And what are we doing now? We're exporting record amounts of ethanol.

Ethanol was a terrible decision. Focusing on just increasing domestic oil does little to nothing. This is not a supply and demand issue. This is a Wall Street manipulating the prices issue.

Simply saying "drill, baby, drill!" is the same thing as giving a heroin user a needle and saying the exact same thing. What the U.S needs to do is follow France's example and capitalize on nuclear energy. Plus, look to making other forms of alternative fuels possible. Oil addiction is a lose-lose situation for the U.S.

 

[ROBESPIERRE]

I am afraid the USA is headed for serious inflation, and high inflation during a resession is the worst possible senario for the economy. It means a permanent lowering of the standard of living in America.

​

 

[Modbert]

Modbert's argument that we're #3 so stop already just doesn't make sense. Huge source of U.S. oil: North Dakota's Bakken - Mar. 9, 2011

Increase our output and build more refineries. That doesn't mean that companies shouldn't look for breakthroughs on what are being called 'green' alternatives, but are in reality just alternatives.

Did I say that? Nope. I'm merely pointing out that the oil price is not a supply and demand issue. In fact, going back to last year there was a weak demand for oil but high price.

See here:

Oil Tops $84 a Barrel, Despite Weak Demand - CBS News

From Jan 2009:

Did Speculation Fuel Oil Price Swings? - 60 Minutes - CBS News

"Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions," Gilligan explained.

In a five year period, Masters said the amount of money institutional investors, hedge funds, and the big Wall Street banks had placed in the commodities markets went from $13 billion to $300 billion. Last year, 27 barrels of crude were being traded every day on the New York Mercantile Exchange for every one barrel of oil that was actually being consumed in the United States.

(CBS) As it turns out, not even J.P. Morgan's chief global investment officer agreed with him. The same that day Eagles testified, an e-mail went out to clients saying "an enormous amount of speculation" ran up the price" and "140 dollars in July was ridiculous."

"Did China and India suddenly have gigantic needs for new oil products in a single day? No. Everybody agrees supply-demand could not drive the price up $25, which was a record increase in the price of oil. The price of oil went from somewhere in the 60s to $147 in less than a year. And we were being told, on that run-up, 'It's supply-demand, supply-demand, supply-demand,'" Greenberger said.

"From quarter four of '07 until the second quarter of '08 the EIA, the Energy Information Administration, said that supply went up, worldwide supply went up. And worldwide demand went down. So you have supply going up and demand going down, which generally means the price is going down," Masters told Kroft.

The invisible hand of the free market choking the life out of the average consumer, and meanwhile people are offering up the solution of just producing more oil. Again, this is not a supply and demand issue. Therefore, increasing demand will do nothing. Libya provides 76,000 barrels a day, tops. This would not nearly have the impact on oil prices as we've been led to believe. This is basic economics.

 

[Annie]

Modbert's argument that we're #3 so stop already just doesn't make sense. Huge source of U.S. oil: North Dakota's Bakken - Mar. 9, 2011

Increase our output and build more refineries. That doesn't mean that companies shouldn't look for breakthroughs on what are being called 'green' alternatives, but are in reality just alternatives.

Did I say that? Nope. I'm merely pointing out that the oil price is not a supply and demand issue. In fact, going back to last year there was a weak demand for oil but high price.

See here:

Oil Tops $84 a Barrel, Despite Weak Demand - CBS News

From Jan 2009:

Did Speculation Fuel Oil Price Swings? - 60 Minutes - CBS News

"Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions," Gilligan explained.

"Did China and India suddenly have gigantic needs for new oil products in a single day? No. Everybody agrees supply-demand could not drive the price up $25, which was a record increase in the price of oil. The price of oil went from somewhere in the 60s to $147 in less than a year. And we were being told, on that run-up, 'It's supply-demand, supply-demand, supply-demand,'" Greenberger said.

"From quarter four of '07 until the second quarter of '08 the EIA, the Energy Information Administration, said that supply went up, worldwide supply went up. And worldwide demand went down. So you have supply going up and demand going down, which generally means the price is going down," Masters told Kroft.

The invisible hand of the free market choking the life out of the average consumer, and meanwhile people are offering up the solution of just producing more oil. Again, this is not a supply and demand issue. Therefore, increasing demand will do nothing. Libya provides 76,000 barrels a day, tops. This would not nearly have the impact on oil prices as we've been led to believe. This is basic economics.

So the speculators are doing what with this commodity? Where's the hording going? Yeah I know not in their backyards, but needs to be accountable somewhere. Demand down, but prices up?

One thing we do know, increasing the supply, even the threat to do so will lower costs.

 

[Spoonman]

President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:

Both Obama and Bromwich either are purposely lying or they simply don't know what they are talking about. Check out the chart that accompanies this post. Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?

Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter.

In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."

Read all here: Government can't do anything about gas prices? Then why did this happen in 2008? | Mark Tapscott | Beltway Confidential | Washington Examiner

That means this hike in oil prices is DELIBERATE, because Obama could end it tomorrow with a stroke of his pen.

Liberals can argue otherwise, but what are they going to say? It's not deliberate, Obama is just that stupid?

And where is all the liberal outrage we heard the last time Gas went abouve $4? Remember all the claims of oil man bush lining his pockets? The liberal hypocriscy is really showing as obama stumbles over the same pitfalls bush encountered and their cries are silent.

 

[Mr. H.]

True, yet there is much to be said about increasing domestic oil and gas production as a means of reducing imports, keeping petro-dollars within our own borders, and increasing jobs.

After all, weren't we sold up the river re: ethanol as a means of reducing oil and products imports? And what are we doing now? We're exporting record amounts of ethanol.

Ethanol was a terrible decision. Focusing on just increasing domestic oil does little to nothing. This is not a supply and demand issue. This is a Wall Street manipulating the prices issue.

Simply saying "drill, baby, drill!" is the same thing as giving a heroin user a needle and saying the exact same thing. What the U.S needs to do is follow France's example and capitalize on nuclear energy. Plus, look to making other forms of alternative fuels possible. Oil addiction is a lose-lose situation for the U.S.

No one in the petroleum industry advocates "just increasing domestic oil" production. Nor does the industry deride alternatives/renewables as non-issues. And it wasn't them who coined the phrase "drill baby drill".

What they do do (in the wee wee hours) is make the argument for a balanced and rational approach that encompasses a variety of energy sources. But developing alternatives with massive direct government funding at the expense of conventional fuels is not the path to take. And that is exactly what Obama proposes to do do.

Sure we use lots of oil in this country, but we do lots of things. Consuming 25% of the world's petroleum begets 25% of the world's GDP. Hydrocarbons are not the energy of losers, they're the energy of choice for a reason.

 

[Lasher]

prove it

Pay your toll? I don't think so little troll...

we don't have toll road , thats for chumps .
but back to it how again do you say unions are the same as a criminal like Capone ? a little proof with you name calling please .
say do you work ? do you like the 40 hour week or prefer you employer have that say ? I know work comp is a bag of shit and when they show you the people cart and identify your limbs like cuts of meat . but at least we have something , not a teabagger telling you be happy you had a job .

holidays ? like them ? a minimum wages not what ever your boss want to pay you , thats good right ?

then say thank unions .

Unions suck, and union members are suckers who want a job and not have to work at it.