Memories are so beautiful and yet.................
Remember how the left wing said that Obama had nothing to do with gasoline prices, it was a magical time.
Remember how the left wing said that supply had nothing to do with prices?
You don't need to remember for them to say the same thing about the Keystone pipeline.
Of course a drop now and them saying it was Obama's fault they were high are two different things. Maybe this drop proves Obama was the cause for an artificially high price.
"Remember how the left wing said that supply had nothing to do with prices? "'
PLEASE link that for me? LOL
My Pleasure, LOL: Mr. Obama’s market analysis is more remarkable and worth quoting at length: “So there’s no—I won’t say ‘no’—there is very little impact, nominal impact, on U.S. gas prices—what the average American consumer cares about—by having this pipeline come through. And sometimes the way this gets sold is, let’s get this oil and it’s going to come here. And the implication is, is that’s going to lower gas prices here in the United States. It’s not. There’s a global oil market. See also the next reply)
Obama on Oil Markets - WSJ
"You don't need to remember for them to say the same thing about the Keystone pipeline"
.
In Keystone’s weirdonomics, the pipeline would actually increase prices of gasoline for much of the country, according to at least three studies that have looked into it. Keystone would divert crude from Midwest refineries to Gulf Coast refineries, where it would then be shipped to more expensive markets. Bypassing heartland refineries could drive up prices at home.
"[P]roduction in the United States really does not matter much for the price of gas," wrote Dean Baker of the Center for Economic and Policy Research, who said that the U.S. could increase its output by a third without meaningfully reducing fuel prices. "Oil prices in the United States depend on the world market, not just supply and demand in the United States.” 3 gasoline Drilling for oil brought down prices.
For people living in the Midwest, Great Plains and Rocky Mountains, it could add 20 cents a gallon to the price at the pump.
The assumption underlying this is that there is indeed a discount on crude delivered to the mid-West.
There’s so much of it floating around, there’s not enough pipeline capacity to send it elsewhere
Keystone XL Won t Lower Gas Prices It Might Raise Them - Forbes
Keystone Oil Pipeline Seen Raising Gas Prices in Midwest
Keystone Oil Pipeline Seen Raising Gas Prices in Midwest Energy - Bloomberg
September 17, 2009: According to TransCanada’s own analysis, the Keystone XL tar sands pipeline will be a boon for corporate profits, but a burden for American consumers.
TransCanada, in
testimony to the Canadian National Energy Board, “Existing markets for Canadian heavy crude, principally [the US Midwest], are currently oversupplied, resulting in price discounting for Canadian heavy crude oil. Access to the [US Gulf Coast] via the Keystone XL Pipeline is expected to strengthen Canadian crude oil pricing in [the Midwest market] by removing this oversupply.
This is expected to increase the price of heavy crude to the equivalent cost of imported crude.”
December 31, 2009: TransCanada admits Keystone XL would raise gas prices.
TransCanada submits its first permit application. In the
appendix to its application to the Canadian National Energy Board, the company writes,
“A Canadian heavy crude producer is expected to realize an increase in the heavy crude price of approximately $3.00 per barrel by avoiding a discount at the [United States Gulf Coast].”
TransCanada s Long List Of Flip Flops On Keystone XL ThinkProgress