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Gas prices..who's fault is it now

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Gas prices..who's fault is it now

Old 02-20-2012, 07:00 PM
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Default Gas prices..who's fault is it now

I remember in 2008, before the election, Nancy Pelosi screaming about how the party in the White House was responsible for the high price of gasoline.

Who's fault is it now?

http://articles.cnn.com/2008-07-17/p..._s=PM:POLITICS


'Two oil men' to blame for high gas prices, Pelosi says

OIL EXPLORATION


July 17, 2008


House Speaker Nancy Pelosi Thursday blamed the "two oil men in the White House," President Bush and Vice President Dick Cheney, and their Republican allies in Congress for gas prices exceeding $4 a gallon.
Pelosi, a California Democrat, said multiple initiatives intended to lower high energy costs have passed the Democratically controlled House only to "run into a brick wall" in the Senate because they did not receive the 60 votes needed to overcome Republican filibusters.

"The price of oil is... is attributed to two oil men in the White House and their protectors in the United States Senate," Pelosi said in an interview with CNN's Wolf Blitzer.





Pelosi said she would continue to oppose two policy changes that President Bush and congressional Republicans have been advocating: lifting the ban on offshore drilling and opening the Arctic National Wildlife Refuge for oil exploration.

Pelosi said she had no plans to allow votes to lift a ban on offshore drilling despite widespread support for the move. A recent CNN poll conducted by the Opinion Research Corp. found that 72 percent of those polled supported more offshore drilling. About a quarter -- 27 percent -- backed Pelosi's position. The poll, conducted June 26-29, has a margin of error of plus-or-minus 3 percentage points.

Pelosi said there are plenty of opportunities that oil companies should explore before environmentally sensitive areas such as ANWR are open to drilling, pointing to the 33 million acres that have already been approved for offshore drilling and the 68 million acres of federal land in the lower 48 states that is open to exploration.

"The impression that the White House has given you is that if you could drill in these protected areas, the price of gasoline will come down," Pelosi said. "Even the president in his press conference the other day acknowledged that that was not the case."

Pelosi's renewed opposition to more drilling comes as two bipartisan groups -- one in the House, the other in the Senate -- are trying to rekindle stalled energy legislation by forging a compromise to expand domestic oil and gas drilling.
The compromise would include new domestic drilling to satisfy Republicans and promote conservation and alternative energy sources to satisfy Democrats, lawmakers said.


No need to turn this into a politcal $hit dump, just pointing out the hypocrisy that is our political scene, on both sides!
Old 02-20-2012, 10:06 PM
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Who's fault is it? It is yours and mine for buying the stuff every minute of every day regardless of the price.

How quickly do you think things would change if everyone said I will not use a penny's worth of gas/ fuel for one week......the government would change it's tune awfully damn fast I'll tell you.
Old 02-20-2012, 10:22 PM
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nm
Old 02-20-2012, 10:58 PM
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Originally Posted by Garett View Post
Who's fault is it? It is yours and mine for buying the stuff every minute of every day regardless of the price.

How quickly do you think things would change if everyone said I will not use a penny's worth of gas/ fuel for one week......the government would change it's tune awfully damn fast I'll tell you.
probably one of the dumbest "understandings" of economics out there

you realize a massive portion of the worlds oil is controlled by cartel members....they don't have to pump it if there is no demand they can just keep it on the ground

refineries are a volume and margin business.....when you don't buy enough one of them or more goes off line because without the volume their small margin does not cut it so they shut down.....like the one in the Virgin Islands owned 50% by Venezuela.....so gas prices could actually increase

how do you think anyone anywhere will get anything done without burning fuel

what happens the next week to prices when everyone burns twice as much gas to get done what they put off the week before.....and refineries are not back on line yet

and china will buy all the oil and gas they can get their hands on if the price drops....which prevents the price from dropping.....take the smart guys in Iran......they decided to break up with Europe first before Europe could break up with them in July......now china is in Iran as we speak beating Iran down on the price because they have no other market for their oil.....and Iran still needs refined products in return.....that china will be glad to sell them back with a nice markup........Europe just sources their oil from the people that china used to buy from at regular market rates while china beats down the price for Iranian oil......so the real loser in breaking up first.....it Iran.....because they are forced to sell their oil to china for a lower price than they could get from Europe or the market in general and they are stuck taking inflated chinese refined products in return....it is like obama is running Iran or something

are there really people that can use the internet that still have such a total and complete lack of understanding of the basic oil economy ;?

here is another great example of liberal stupidity and lies and fear mongering

http://www.sfgate.com/cgi-bin/articl...UGQ9AO59V1.DTL

in 2005 when Bush was in office and after being enviroed to death Shell was going to shut down a refinery in Bakersfield.....so there was a demand for an FTC and state investigation of price fixing

http://www.bakersfield.com/news/busi...ing-operations

now in jan of 2012 when the obongos is soiling the Whitehouse and this refinery actually has more production......and gas prices are getting out of control.....and a big evil oil company like Shell ( a Dutch company by the way not American) no longer owns it....suddenly the closing of the same exact refinery will have "no meaningful impact on prices"

say what you want about others, but democrats are just complete and total piles of crap across the board
Old 02-20-2012, 11:12 PM
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Gasoline is actually being exported because the US has excess refining capacity. We can't use all the gas we refine so it gets sold to other countries.

Oil is a commodity and is based on the price per barrel. Oil speculators via the stock market dictate the price of a barrel of oil. With all the middle east turmoil the speculators have driven the price of oil up. It's as simple as that. Speculators love turmoil and uncertainty in the market as it always drives the price up. So are gas prices based on real events? Nope! They are artificial. Just like everything else in the market... the tech bubble, the housing bubble, and now the artificial price of oil.
Old 02-21-2012, 12:41 AM
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Originally Posted by ThreeLittleFish View Post
Gasoline is actually being exported because the US has excess refining capacity. We can't use all the gas we refine so it gets sold to other countries.

Oil is a commodity and is based on the price per barrel. Oil speculators via the stock market dictate the price of a barrel of oil. With all the middle east turmoil the speculators have driven the price of oil up. It's as simple as that. Speculators love turmoil and uncertainty in the market as it always drives the price up. So are gas prices based on real events? Nope! They are artificial. Just like everything else in the market... the tech bubble, the housing bubble, and now the artificial price of oil.
this is correct the USA does export refined products currently and we do have excess capacity
Old 02-21-2012, 02:56 AM
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I have two theories, not proven just my ignorant ideas that make me feel better

1- WE are paying, like I said we would, for BP's F***UP in the GOM. Yea they bent over backwards saying what all they would do knowing all along they could manipulate the market to drive price back up to cover their losses

2-REPUBLICANS( don't send to bilge please and I have always sided with Republicans for most part) They see NO WAY IN HELL they gonna beat current Administration so they figure only chance they have to win is have gas prices SKY HIGH through summer with risk of putting our finally starting to thrive again economy back in the crapper

Just my opinions , you will never make me believe the oil futures is not being manipulated by somebody
Old 02-21-2012, 04:10 AM
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One big reason that the speculators are driving up prices, is the so-called "Green Agenda" of the current administration. It is obvious to anyone that they are hell-bent to get the US off of carbon fuels regardless of the consequences.

1st, since the Gulf spill, only limited permits have been approved. Unfortunately, these have gone to foreign companies.

2nd, the refusal to approve the pipeline from Canada. This is a win-win for anyone, except for the current administration. It WILL NOT use ANY taxpayer $$$ to construct, will put 10's of thousands of workers back to work (directly, many more indirectly), and will insure the US has 1st dibs on the rich Canadian reserve.

Additionally the Libs want to continue to paint a picture of the "Oil Companies" being the bad guys. What better way, than to do everything in their power to make fuel prices go through the roof. Then they will turn around and associate the oil companies with "everything that is wrong with Big Business and the Republican party".

Of course the speculators are driving up the prices...

I agree that we need to look into alternative energy, however, we should do everything in our power to insure a steady supply of the critical resources that we are so dependent on, 1st.
Old 02-21-2012, 04:27 AM
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Fuel prices would not be where they are if true supply and demand were allowed to set the market.

Unfortunately our great gov't makes (or prevents) policy to further it's own agenda.
Old 02-21-2012, 04:28 AM
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Originally Posted by Garett View Post
Who's fault is it? It is yours and mine for buying the stuff every minute of every day regardless of the price.

How quickly do you think things would change if everyone said I will not use a penny's worth of gas/ fuel for one week......the government would change it's tune awfully damn fast I'll tell you.
Oh, things would change alright! My economy would come to a screachin' hault!
Old 02-21-2012, 04:32 AM
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So, how many states have driven up the price of gasoline by increasing per-gallon taxes? We're currently paying 57.8 cents/gallon, 5th highest in the nation. The highest-tax state, New York, is almost 10 cents higher.
http://www.easy-tax-information.com/...ine-taxes.html

Gotta balance the state's budgets, and with gasoline consumption dropping every year since 2006...
Old 02-21-2012, 04:47 AM
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I say it's time Piglosi explains it to us again, then we'll know.
Old 02-21-2012, 05:03 AM
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"The US now exports more energy than it imports." Most crude is distilled into aircraft fuels that are exported to Asia, Asia minor, and (I forget the 3rd area). There is more profit in exporting jet fuel than selling gasoline domestically. At least that is what I heard on new-talk radio yesterday.
Old 02-21-2012, 05:32 AM
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As I recall, the third area is Latin America.
Old 02-21-2012, 06:08 AM
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It's still Bush's fault...........always will be.
Old 02-21-2012, 07:25 AM
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Originally Posted by ThreeLittleFish View Post
Gasoline is actually being exported because the US has excess refining capacity. We can't use all the gas we refine so it gets sold to other countries.

Oil is a commodity and is based on the price per barrel. Oil speculators via the stock market dictate the price of a barrel of oil. With all the middle east turmoil the speculators have driven the price of oil up. It's as simple as that. Speculators love turmoil and uncertainty in the market as it always drives the price up. So are gas prices based on real events? Nope! They are artificial. Just like everything else in the market... the tech bubble, the housing bubble, and now the artificial price of oil.
Since its in demand worldwied, sounds like a good time to build some more refineries and put people to work.
Old 02-21-2012, 07:41 AM
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#1 Iran for creating unrest in the middle east and disrupting European oil markets

#2 US refineries for shutting down

#3 Bush
Old 02-21-2012, 08:00 AM
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Old 02-21-2012, 08:06 AM
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up up and up! Lets bring on the next rescission!! Hope and Change baby, Hope and Change!!! We dont need to drill here in the USA!!! We can rely on pixie dust and unicorn horns!!
Old 02-21-2012, 08:23 AM
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Originally Posted by gonepecan View Post
Since its in demand worldwied, sounds like a good time to build some more refineries and put people to work.
X 1000 but instead we want to build new nuclear facilities.

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