Obama responsible for bringing $5 per gallon gasoline

Interesting. So you want to create a problem so that you can elect a politician to fix the problem that didn't exist before? Facts kind of suck, I know:


U.S. net petroleum imports have fallen to about 47% of the nation's consumption, down from a record 60.3% in 2005, Energy Information Administration statistics show. It's been 15 years since the nation's reliance on foreign oil has been this low.

Several factors figure into the import decline, but a big one is a little surprising: U.S. petroleum exploration is experiencing a quiet renaissance with the help of technology and new drilling techniques.

The number of oil rigs in production in the U.S. has reached a 24-year high, according to oil field services company Baker Hughes. In 2005, domestic production was 1.89 billion barrels. This year, experts say, production is expected to surpass 2 billion barrels.

 

Perhaps I should have been clearer. If Obama allows gasoline prices to reach $6 per gallon (or even $5 for that matter) and remain at that level for even a few months, he will be run out of D.C. on a rail regardless of who runs against him.

As far as "we both know he will be re-elected," we BOTH don't believe that.

 

insight? It's on the 'about us' page of their website:

In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.


http://www.opec.org/opec_web/en/about_us/23.htm

 

Allow? What are the President's tools of manipulation? Strategic reserves?
Jawboning the Saudi's?

If he could do that, he should let prices run up, then in October make them come back down. (Bwhahahaha eveil genius!)

 

Major, I am not advocating creating a problem -- I'm just taking the current fuel disaster to it's extremes. You do that all the time.

Gasoline prices have doubled since Obama took office. The reason domestic oil production is going up is not because of Obama but in spite of him. Drillers are using new techniques to recover oil from private property rather than public leases. Obama can't stop private property production, but he can and has stalled exploration on drilling areas he controls.

 

Tools? How about the EPA and the Bureau of Land Management as well as all the other bureaucracies he controls.

 

You and I disagree on almost everything but I have to say that I respect that you actually respond in a logical way. You may be sanest/smartest republican I know....there's always room on the other side of the aisle. Just sayin'.

 

One learns to more thoroughly examine issues through debate and argument (formal definition as opposed to "quarreling"). Thanks for the compliment.

 

I think you have it the other way around: refining is not an issue, the issue is oil demand is greater than supply.

Personally I am going to blame the Ford Explorer, Walmart and Americans' general conspicuous-purchasing attitude ($30K millinionaires) for the recent advancements in oil prices.

Overall, blame Nixon. Tricky-Dicky went to China 40-years ago...and so with him did thousands of American jobs; thus began the fiat currency era of the US, OPEC reserves exclusively in US dollars, an increase in oil consumption of the baby boomers, and the peaking of US crude oil production.

Here is a debate between a UT Engineering professor and a former Shell CEO/President about world oil supply.
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This is correct.

This is not. At all. Unless you really think that not going to China would have somehow kept a billion plus people out of the global economy. And I've argued with goldbugs too many times already.

I've heard Bachmann say this, but is this really true? Personally, gas prices have seemed more or less the same compared to four years ago.

 

Demand is a long term trend, but it hasn't shot up the last several weeks when we've had this recent run up that has sparked fears of $5 gas. What has happened is tension with Iran and some refineries shutting down.

http://www.cleveland.com/business/index.ssf/2012/01/line_east_coast_refinery_shutd.html

 

Technically yes, because of a convenient measuring point in the midst of an economic collapse. When someone says something like this, it's to score a political point rather than to seriously discuss the issue - which explains why Bachmann says it so often:

 

Why were they so low when he took office? It's amazing to me how much credit Bush and Obama get on gasoline prices.

 

hey kojirou - you support mitt romney, right? may i ask why? what policies of his do you support?

ive asked you this question several times in different threads, including a thread that you started. why are you so scared to explain what it is you like about your preferred candidate? you have pages and pages of posts tearing down ron paul and his supporters - why is it so hard for you say what you like about romney?

 

Good point. I have been hearing about that, but would the bigger consequence be regional price change in the East or a nation wide trend? And $5 per gallon? Didn't we hear the $5 fear when ethanol subsidies ended at the end of 2011?

We are also experiencing an unsusually warm winter. Could this have an effect on gasoline blends? Winter blends generally include higher butane levels but are lowered in the summer because of Reid Vapor Pressure. I am not very knowledgable about downstream production but ethanol is an oxygenating agent and replaces butane during the summer, as far as I know.

http://www.usatoday.com/money/indus...2-01-03/ethanol-subsidy-gas-prices/52355056/1

Of course that never happened.

Also, in 2011 the US was producing record amounts of distillates and gasoline leading to a few months of net exports.

http://www.eia.gov/todayinenergy/detail.cfm?id=4470

 

Its almost like clockwork every 4 years or so the drill baby drill idiots start their election year crusade, only to inevitably have it blow up in their faces. Sometimes literally.

 

obama wanted to do the pipeline, the people of nebraska don't. get your facts straight

 

oil price is actually down $50 from the summer of 08. you don't know the facts and that's the problem

oil is a global commodity. price somewhere effects price everywhere.

what has obama done to stop drilling other than halting it when BP ****ted on the gulf