I thought I had seen it all, and then came this

[JRK]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

 

[zzzz]

It can't be because of an oil shortage. We have an oil glut in Cushing Oklahoma, the infrastructure is not big enough to handle all the incoming oil. just think if they had the Canadian pipeline, the oil could not be pumped because they have no room for it.

The oil industry is one crazy place. First it was no refineries, now it is limited operational capacity for incoming oil to distribute to refineries. The infrastructure for the US energy industry is a joke. Makes one wonder if there is a conspiracy to introduce these problems to keep fuel prices high and profits at maximum.

 

[JRK]

It can't be because of an oil shortage. We have an oil glut in Cushing Oklahoma, the infrastructure is not big enough to handle all the incoming oil. just think if they had the Canadian pipeline, the oil could not be pumped because they have no room for it.

The oil industry is one crazy place. First it was no refineries, now it is limited operational capacity for incoming oil to distribute to refineries. The infrastructure for the US energy industry is a joke. Makes one wonder if there is a conspiracy to introduce these problems to keep fuel prices high and profits at maximum.

8% profit is not seen as a maximum profit in most circles
Exxon says profit margin comparable to other firms - MarketWatch
CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI
with respect to your opinion
To start with its about jobs
in addition
take way ones excuse, then lets see where they are then

Pipe-lines
refinaries
etc...
drill baby = jobs baby

 

[Mr.Nick]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

I have read Chicago Tribune articles that claim high gas prices are due to "a growing economy." Then a few days later they tried to paint growing gas prices on hybrid vehicles.

Progressives are just grasping at straws now...

They'll do anything and say anything to justify high oil prices...

 

[JRK]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

I have read Chicago Tribune articles that claim high gas prices are due to "a growing economy." Then a few days later they tried to paint growing gas prices on hybrid vehicles.

Progressives are just grasping at straws now...

They'll do anything and say anything to justify high oil prices...

I was listening to the radio, ABC news comes om and said this with a straight face (I assume, sounded dead serious) I thought at first it was a "skit"
I still am at a loss for words

 

[Ravage]

Banks hold 70% of all oil futures.

I find it HILARIOUS that conservatives champion CAPITALISM, when CAPITAL is what is buying oil futures, inflating the price, then selling at a profit. THAT is the VERY DEFINITION of capitalism.
You pay about $700 out of pocket EVERY YEAR due to this speculation. Good going.


The issue of unbridled and unregulated oil derivatives speculation by a handful of big banks is not a new issue. A June 2006 US Senate Permanent Subcommittee on Investigations report on “The Role of Market Speculation in rising oil and gas prices,” noted, “…there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices.”
Behind The Oil Price Rise

Remember ENRON?
This is the remnants of how you legalized Enron's shennanigans.
But heaven forfend we clean it up. NO! House Republicans have fought EVERY effort to re-regulate the financial sector.

 

[Londoner]

The liberal biased media

Big Media is divided between a handful of mega-corporations who want lower taxes and fewer regulations. They overwhelmingly support Republican causes.

This includes the New York Times, which supported the Iraq War and refused to release Bush's illegal wiretapping activities prior to the 2004 election.

You have been lied to. Turn off Talk Radio. They repeat the same lie every day so that they can color any news story which does not favor the right as biased.

Gas prices are high because the nation chose Reagan and Big Oil rather than Carter an alternative energy in the late 70s. We were asked to move toward alternatives and conservation, both of which would allow us to avoid the coming $5 gallon. We were asked to make a temporary sacrifice during the transition to less petroleum dependence. We chose Reagan and his offer of zero sacrifice. We chose big oil.

Prices are high because of the supply/demand problem posed by China/India, as well as speculators, which allows Wall Street to bid up the price.

Turn off Talk Radio and Fox News. We are begging you.

 

[Truthseeker420]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

Gas was $5 dollars a gallon during Bush presidency.

 

[JRK]

Banks hold 70% of all oil futures.

I find it HILARIOUS that conservatives champion CAPITALISM, when CAPITAL is what is buying oil futures, inflating the price, then selling at a profit. THAT is the VERY DEFINITION of capitalism.
You pay about $700 out of pocket EVERY YEAR due to this speculation. Good going.


The issue of unbridled and unregulated oil derivatives speculation by a handful of big banks is not a new issue. A June 2006 US Senate Permanent Subcommittee on Investigations report on “The Role of Market Speculation in rising oil and gas prices,” noted, “…there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices.”
Behind The Oil Price Rise

Remember ENRON?
This is the remnants of how you legalized Enron's shennanigans.
But heaven forfend we clean it up. NO! House Republicans have fought EVERY effort to re-regulate the financial sector.

Read the fu--ing the link next time
its about credit card fees, not speculation you, never mind
High Gas Prices: Should You Blame Your Bank? - ABC News
Typical lib
mis informed, re peat the lie

 

[KevinWestern]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

I'm not saying you're right or wrong, but I think it’s misleading to say that “when Bush was the president and gas was $1.80/gal” like that was some sort of a normal price during the Bush years. I can also spin the data this way:

When Bush took office in 2001, the price of gas was $1.48/gal. By June of 2008 (the very tail end of his Presidency) the price of gas had skyrocketed to $4.00+/gal.

See how statistics can be spun in a misleading way?

Also, as I’ve stated before, I don’t think you can blame the price of gas on a single person, especially when you consider that the President is working alongside the Senate and House of Representatives who also have a say on what type of policy will and won’t get passed.

Yes, the President and Chu did have their wild cap-and-trade dreams, but that was shot down in 2010.

You can't blame everything on the President; you have to think more broadly at all of the economic forces at work behind these prices.

Scapegoating is easy, but it rarely gets us anywhere....
.
.
.

 

[JRK]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

Gas was $5 dollars a gallon during Bush presidency.

as it is today in places due to tax rates
now you want to talk avg and legth of time it was at 4?
When BHO took office it was 1.80 also
do your DD
this is called a link
Gas Price Historical Price Charts - GasBuddy.com
google it next time and stop lying about GWB when the trith about BHO is worse

 

[KevinWestern]

Read the fu--ing the link next time
its about credit card fees, not speculation you, never mind

I think the point that Ravage was trying to get across was that speculation plays a much stronger role in determining the price of gas than any single President ever could. This is a direct response to your OP, where you suggest that Obama's unwillingness to support a pipeline or oil exploration is somehow the reason for the high gas prices today:

Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands

You also mocked the idea of "evil banks" controlling gas prices, which was another thing Ravage refuted:

it is the evil banks causing this also

Where I'm getting at is that you try to make it seem like Ravage is off topic, when really he's not; he's directly responding to your post.

Also, I believe that speculation has a LOT to do with determining the price of oil, yet you discount Ravage as a “typical lib”, “mis informed”, and repeating a “lie”. Do you not think that speculation plays a role? How do you justify your comment, exactly?

.
.
.

 

[JRK]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

I'm not saying you're right or wrong, but I think it’s misleading to say that “when Bush was the president and gas was $1.80/gal” like that was some sort of a normal price during the Bush years. I can also spin the data this way:

When Bush took office in 2001, the price of gas was $1.48/gal. By June of 2008 (the very tail end of his Presidency) the price of gas had skyrocketed to $4.00+/gal.

See how statistics can be spun in a misleading way?

Also, as I’ve stated before, I don’t think you can blame the price of gas on a single person, especially when you consider that the President is working alongside the Senate and House of Representatives who also have a say on what type of policy will and won’t get passed.

Yes, the President and Chu did have their wild cap-and-trade dreams, but that was shot down in 2010.

You can't blame everything on the President; you have to think more broadly at all of the economic forces at work behind these prices.

Scapegoating is easy, but it rarely gets us anywhere....
.
.
.

Gas Price Historical Price Charts - GasBuddy.com
I dont spin anything
It fit the ABC article to a tee
talk about spin, it just completed the thread better than anything else

 

[Mr.Nick]

Banks hold 70% of all oil futures.

I find it HILARIOUS that conservatives champion CAPITALISM, when CAPITAL is what is buying oil futures, inflating the price, then selling at a profit. THAT is the VERY DEFINITION of capitalism.
You pay about $700 out of pocket EVERY YEAR due to this speculation. Good going.


The issue of unbridled and unregulated oil derivatives speculation by a handful of big banks is not a new issue. A June 2006 US Senate Permanent Subcommittee on Investigations report on “The Role of Market Speculation in rising oil and gas prices,” noted, “…there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices.”
Behind The Oil Price Rise

Remember ENRON?
This is the remnants of how you legalized Enron's shennanigans.
But heaven forfend we clean it up. NO! House Republicans have fought EVERY effort to re-regulate the financial sector.

We don't practice true capitalism, we practice crony capitalism..

We haven't practiced the model in over 100 years...

Keynesian ideas only stunt true capitalism.

 

[JRK]

Read the fu--ing the link next time
its about credit card fees, not speculation you, never mind

I think the point that Ravage was trying to get across was that speculation plays a much stronger role in determining the price of gas than any single President ever could. This is a direct response to your OP, where you suggest that Obama's unwillingness to support a pipeline or oil exploration is somehow the reason for the high gas prices today:

Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands

You also mocked the idea of "evil banks" controlling gas prices, which was another thing Ravage refuted:

it is the evil banks causing this also

Where I'm getting at is that you try to make it seem like Ravage is off topic, when really he's not; he's directly responding to your post.

Also, I believe that speculation has a LOT to do with determining the price of oil, yet you discount Ravage as a “typical lib”, “mis informed”, and repeating a “lie”. Do you not think that speculation plays a role? How do you justify your comment, exactly?

.
.
.

He is 180 degress off topic
The level the left wingmedia is going to take this election is mind boggling, it has started
To kill a mokinbird being used as a re elect BHO because of his race to this in hours

BTW
4.00 a gallon gas has nothing to do with the millions of people out of work who had jobs when he took office
Its not about the price of gas to me (pipelines, etc...) its about the jobs

2008...... 136,790 114,281 21,334 767 7,162 13,406
2009...... 130,807 108,252 18,557 694 6,016 11,847

2010...... 129,818 107,337 17,755 705 5,526 11,524

ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt
BHO has not even got this country back to where we where in 2008
not even close

GWB created millions
2000...... 131,785 110,995 24,649 599 6,787 17,263
2001...... 131,826 110,708 23,873 606 6,826 16,441
2002...... 130,341 108,828 22,557 583 6,716 15,259
2003...... 129,999 108,416 21,816 572 6,735 14,510
2004...... 131,435 109,814 21,882 591 6,976 14,315
2005...... 133,703 111,899 22,190 628 7,336 14,226
2006...... 136,086 114,113 22,531 684 7,691 14,155
2007...... 137,598 115,380 22,233 724 7,630 13,879
2008...... 136,790 114,281 21,334 767 7,162 13,406
ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt

 

[KevinWestern]

I dont spin anything

Saying when gas prices "were $1.80" during the Bush years is a spin. It's misleading.

talk about spin, it just completed the thread better than anything else

?

 

[Ravage]

Banks hold 70% of all oil futures.

I find it HILARIOUS that conservatives champion CAPITALISM, when CAPITAL is what is buying oil futures, inflating the price, then selling at a profit. THAT is the VERY DEFINITION of capitalism.
You pay about $700 out of pocket EVERY YEAR due to this speculation. Good going.


The issue of unbridled and unregulated oil derivatives speculation by a handful of big banks is not a new issue. A June 2006 US Senate Permanent Subcommittee on Investigations report on “The Role of Market Speculation in rising oil and gas prices,” noted, “…there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices.”
Behind The Oil Price Rise

Remember ENRON?
This is the remnants of how you legalized Enron's shennanigans.
But heaven forfend we clean it up. NO! House Republicans have fought EVERY effort to re-regulate the financial sector.

Read the fu--ing the link next time
its about credit card fees, not speculation you, never mind
High Gas Prices: Should You Blame Your Bank? - ABC News
Typical lib
mis informed, re peat the lie

Yes...let's concentrate on something that costs us 7cents a fillup, instead of over a dollar a gallon.

Way to go! Way to solve the BIG PROBLEM! You've complaining about banks skimming 7 cents a fillup, when you are paying over a dollar a gallon more because of bank speculation?

Go ahead...call me STUPID again.

Let me know when you have the reason why gas prices are so high when demand is low, hmm?

 

[BlindBoo]

The liberal biased media now blames 4.00 a gallon gas on credit cards. Could you imagine this article being wrote when W was the president and gas was 1.80 a gallon?
High Gas Prices: Should You Blame Your Bank? - ABC News


Govt adds an avg of 46 cents a gallon
Exxon makes about 1/2 of that in profit per gallon, or 7%
Oil exploration in this country along with new and modern refinaries are not on Obamas radar, lets not forget a much needed pipe-line that would connect Texas and there refinaries with Canada and there Oil Sands
Nope, Obama has nothing to do with it, it is the evil banks causing this also

Damn that liberal media reporting on a damn report and then giving us a different perspective.....

"The new report by the National Association of Convenience Stores says it’s those so-called swipe fees at gas stations."

"The credit card industry, as might be expected, begs to differ. In a statement, Ken Clayton....."

How dare they not blame President Obama!

There is already a pipeline from canada to the US and a new section will be built from the depot in Ok. to the refineries of the gulf coast. Oil production hit a 13 year high in Jan 12(even on federal land it has increase 15%). While the number of refineries had dropped, the capacity has remained stable(and with the reduction in US consumption we are now exporting refined products).

Who was President Bush blaming in 2008 for the 4.00+ gasoline? Of course......

President Bush blames Democrats for high gas prices
By Associated Press
Saturday, August 23, 2008

http://www.bostonherald.com/news/national/politics/general/view.bg?articleid=1114685&srvc=rss

 

[KevinWestern]

He is 180 degress off topic

He’s definitely not, he directly addressed comments you made in your original post. You're the one that mentioned "evil banks", right?

BTW
4.00 a gallon gas has nothing to do with the millions of people out of work who had jobs when he took office
Its not about the price of gas to me (pipelines, etc...) its about the jobs

….

BHO has not even got this country back to where we where in 2008
not even close

Do you realize, JRK, that when Barack Obama took office the country was losing jobs at a rate of 700,000/month! That was the environment and the landscape the President was handed. That was 2008. Are we losing 700,000 jobs a month anymore? I don’t think so, so we’ve at least seen some improvement.

 

[JRK]

I dont spin anything

Saying when gas prices "were $1.80" during the Bush years is a spin. It's misleading.

talk about spin, it just completed the thread better than anything else

?

to state that gas had went to 1.80 a gallon is as much spin (how ever true) as stating that credit card fees have an effect on Obamas policies and the state of the market when it comes to gas futures
It made my point
It was by intent (how ever true) stated as spin
You will find a link showing the 10 year gas price history
ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt
This link is about the job market, my real issue with his policies and Oil production