Don't thank the fuckwit President. Thank the Saudis for the low gas prices. But don't thank em too much. This is just a ploy to put American oil producers out of business. Current extraction methods such as fracking, are very expensive methods. American oil producers will struggle to survive on $50 a barrel or less.
However, the Saudis and other oil producing nations can survive on very low barrel prices. So don't get too excited, if American oil producers start going out of business, expect gas prices to rise again.
It was the lure of $100 barrel oil that spurred the technology that increased the output (supply) that dropped the prices, not the Saudis. Low prices mean no new exploration which will lead to less output and a rise in prices.......repeat.
No, the Saudis are just driving prices down to put American producers out of business. Fracking and other extraction methods, are very expensive. American producers can't survive on $50 a barrel or less. They need a minimum price of about $65 a barrel.
So i guess we'll see if American producers survive this. The Saudis are betting they won't. But hey, enjoy the low gas prices. I know i will. But it's certainly no thanks to the fuckwit President.
"Gas prices go up, blame the fuckwit President... gas prices go down,
don't blame the fuckwit President"
Life so simple down dere in Duh Bubble.
Don't thank the fuckwit President.
--- too late. Your title here already did.
Talk about having it both ways. Prices go up under Obama, you Libs refuse to blame him in the same manner you did Bush for the SAME thing. Prices go down under Obama, you give him credit yet fail to do the same for Bush for the SAME thing.
Having it both ways: Priceless.