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

[bripat9643]

Sure, if you agree that Obama is a Marxist thug who is bent on destroying this country.

Can you point out to me what makes you think Obama doesn't believe in private property?

How about where he confiscated the private property of GM bondholders and stockholders?

 

[Spoonman]

dude you are totally off the wall. you are the only one here playing games. keep on making you wild ass assumptions. and now let me ask you the same request you made of me. how about some links to back up your facts. or are you just interested in partisan politics and not having a serious discusion? get of your soapbox bro and get real

I've been using links all along. Don't know where you get the idea I haven't been posting any. In case you haven't noticed, I put the blame on the current situation squarely on both parties. But somehow I'm the one playing partisan politics?

Listen to yourself dude. Simply trying to parrot what I said back at me in the form of "I'm rubber, your glue" isn't going to work.

mmmm wrong again. I say oild demand is increasing, you say it's delining. we disagree. i'm sure not parroting you. i post actual current demand, you post future speculation. mmmm maybe you should try listening to what others are actually saying instead of listening to only yourself and making assumptions on where they are coming from

 

[Spoonman]

Sure, if you agree that Obama is a Marxist thug who is bent on destroying this country.

Can you point out to me what makes you think Obama doesn't believe in private property?

How about where he confiscated the private property of GM bondholders and stockholders?

with our money no less

 

[Modbert]

mmmm wrong again. I say oild demand is increasing, you say it's delining. we disagree. i'm sure not parroting you. i post actual current demand, you post future speculation. mmmm maybe you should try listening to what others are actually saying instead of listening to only yourself and making assumptions on where they are coming from

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.

 

[bripat9643]

can we all agree, now, that the president has very limited control over gas prices?

Sure, if you agree that Obama is a Marxist thug who is bent on destroying this country.

Can you point out to me what makes you think Obama doesn't believe in private property?

This isn't about proving your point. it's simply about mindless demands for agreement.

 

[KissMy]

In any case driling in ANWR would not solve the oil issues either in supply or price.

Bullshit!!! How do you explain these facts uscitizen?

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. 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.

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.

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

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.

 

[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, so what do events in Japan have to do with anything?

 

[Spoonman]

MB, take another look at the date of the article from WSJ. It's for tomorrow! Long term, (reason 2000 shows up as a starting point), the US has been decreasing it's consumption. Long term China and all Asia has been increasing consumption voraciously. It's the reason their economy or the result of their economy booming.

I'm not disagreeing with you however that China, India, and other Asia countries have been increasing their consumption in great amounts. I'm merely pointing out that due to recent events that China and India will be cutting back on demand for at least the short term.

i'd agree that certain types of refined products will see a temporary slowdown, but overall oil demand will continue to increase. factory orders are way up. factories and manufacturing run on oil.

 

[uscitizen]

Can you point out to me what makes you think Obama doesn't believe in private property?

How about where he confiscated the private property of GM bondholders and stockholders?

with our money no less

Obama did all that by himself?

 

[Modbert]

Oil is not used to produce electricity, so what do events in Japan have to do with anything?

I'll repeat what I said just a few posts ago.

China's demand for most oil products will likely slow down in the next two or three months in the wake of the massive earthquake in Japan and laggard adjustment of oil price in Chinese market, according to market analysts with China's major oil companies

In details, the monthly average demand for kerosene will be about 1.45 million tonnes, up 6.0 percent year on year. The economic recovery and holiday travels will provide a support to the kerosene consumption, but demand for jet fuel declines, as the earthquake in Japan weighs on flights from China to Japan, which account for 23 percent of China's total international flights.

Demand for fuel oil will decrease from a year earlier, because the laggard oil price adjustment in China hurt enthusiasm of small refineries in processing fuel oil for diesel when international oil price surges. Demand for LPG will also see limited growth due to warm weather and the high price

 

[elvis]

Sure, if you agree that Obama is a Marxist thug who is bent on destroying this country.

Can you point out to me what makes you think Obama doesn't believe in private property?

How about where he confiscated the private property of GM bondholders and stockholders?

I agree. Bailing GM out was a bad idea. It sets a bad precedent. But what makes you think because he bailed GM out that he wants you and I to lose our private property? GM has to pay the loan back, does it not?

 

[bripat9643]

How about where he confiscated the private property of GM bondholders and stockholders?

with our money no less

Obama did all that by himself?

Yes. Do you ever read the papers?

 

[Modbert]

i'd agree that certain types of refined products will see a temporary slowdown, but overall oil demand will continue to increase. factory orders are way up. factories and manufacturing run on oil.

My only point was that China and India will see a decrease in demand in the short run. It would be insane to deny that India and China have seen huge increases in demand for oil over the past decade and more. It would be even more insane to deny that there won't be huge increases in demand for oil in these areas in the future. All I'm pointing out however is that the current crisis is not driven by these issues. It's not a supply and demand issue. Just like it wasn't back when oil prices were this high in 2008.

 

[bripat9643]

How about where he confiscated the private property of GM bondholders and stockholders?

I agree. Bailing GM out was a bad idea. It sets a bad precedent. But what makes you think because he bailed GM out that he wants you and I to lose our private property? GM has to pay the loan back, does it not?

GM does not have to pay the bondholders or the stockholders back. In a conventional bankruptcy, they would have been first in line to get repaid.

Obama just stole the money they had at stake in the company and gave it to the UAW thugs. It's as simple as that.

Obama is a thief and a Marxist thug.

 

[Modbert]

I agree. Bailing GM out was a bad idea. It sets a bad precedent. But what makes you think because he bailed GM out that he wants you and I to lose our private property? GM has to pay the loan back, does it not?

Clearly Obama bailing out capitalist companies is part of his evil plan to get rid of private property. Can't you see that Elvis?

 

[Annie]

MB, take another look at the date of the article from WSJ. It's for tomorrow! Long term, (reason 2000 shows up as a starting point), the US has been decreasing it's consumption. Long term China and all Asia has been increasing consumption voraciously. It's the reason their economy or the result of their economy booming.

I'm not disagreeing with you however that China, India, and other Asia countries have been increasing their consumption in great amounts. I'm merely pointing out that due to recent events that China and India will be cutting back on demand for at least the short term.

What 'might occur' hasn't. Yet, supplies (reserves) are down now, due to demand. A scenario you said wasn't happening, leading to your assumption of speculation and dismissing increasing supplies here. I got that right now?

 

[Spoonman]

i'd agree that certain types of refined products will see a temporary slowdown, but overall oil demand will continue to increase. factory orders are way up. factories and manufacturing run on oil.

My only point was that China and India will see a decrease in demand in the short run. It would be insane to deny that India and China have seen huge increases in demand for oil over the past decade and more. It would be even more insane to deny that there won't be huge increases in demand for oil in these areas in the future. All I'm pointing out however is that the current crisis is not driven by these issues. It's not a supply and demand issue. Just like it wasn't back when oil prices were this high in 2008.

ok, i will agree this is more speculation than supply and demand. and the reason I will agree to that is because even though demand is steadily increasing it stilll hasn't rebounded to 2008 levels. Demand is increasing, but so is the economy and they are trying to squeeze every dollar out they can. in addition it's up for increased summer driving.

i still fault obama for doing nothing because it was his pledge to do something. that has nothing to do with partisan politics. I'd be blaming mccain if he were in office. but obama is in office and he is the one who has to be held responsible for no action.

 

[The T]

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, so what do events in Japan have to do with anything?

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

 

[sinister59]

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.

you mean those great people that deserved all that bonus money ?

 

[Nosmo King]

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.