Gas Prices Heading Down

[Dan Kone]

They are just playing games. If you havent noticed it is be nice to Obama season.

Funny what killing Bin Laden will do to your popularity.

Fact is we are going to hit the debt ceiling on about 5/29/2011. at which point they will raise the debt limit. This is not being talked about period.

Because it's already happened more than 70 times before? lol. Also it's being talked about more now that it ever has in our history, so you're just talking about nothing here.

It happened 10 times during the Bush administration. Do you know how many republicans voted against raising it during that time? zero. Not a single decent. Now all of a sudden because it's Obama, they threaten to vote against it.

It's a stupid political game. GJ falling for cheap rhetoric without understanding it.

 

[newatit2010]

Well on local news in Georgia just now said gas up 3 cents. And the mofo just added 3 cent tax on gas. So much with gas going down.

 

[jeff f]

I'm pretty sure Obama isn't an energy futures trader and he didn't blow up the libyan oil fields nor is he in charge of OPEC.

What exactly was he supposed to do about it? He attacked Libya when for blowing up oil fields, he can't take over OPEC, and I imagine you would be hysterically screaming about socialism if he shut down the energy futures market. So what would you like him to do about it? Use his magic powers?

Oil prices are based on the world market. I'm pretty sure he didn't get elected king of the world.

You might as well be blaming Obama for the nuclear meltdown in Japan.

i got an idea, how about he tell the world we are going on an energy mining extravaganza? we are going to use our own energy and we are going to help any businessman who wants to participate. we are gonna dig, drill, nuke, windmill every square inch of this nation so the rest of you can go straight to hell.

but no, we get him saying....evil oil companies, we need to tax these "winfall" profits.

how about that instead of your propaganda about "he isnt god" bullshit?!?!

 

[mame]

i got an idea, how about he tell the world we are going on an energy mining extravaganza? we are going to use our own energy and we are going to help any businessman who wants to participate. we are gonna dig, drill, nuke, windmill every square inch of this nation so the rest of you can go straight to hell.

but no, we get him saying....evil oil companies, we need to tax these "winfall" profits.

how about that instead of your propaganda about "he isnt god" bullshit?!?!

You should check out the enviromental effects that fracking would have... Especially on water supply. Cancer is fun!

nevermind it wouldn't even help in the first place... For example, opening an Alaska wildlife refuge to oil development would only slightly reduce America’s dependence on imports and would lower oil prices by less than 50 cents a barrel, according to an analysis released in 2004 by the Energy Department. Here's a little perspective on that number: a $1 change in the price of crude oil is supposed to translate into 2.5ish cents per gallon at the pump... crude oil per barrel rose from ~$30 to well over $100 in Bush's presidency alone. Drilling at home will do very little to reduce prices and poses serious risks - not only to our environment - but to our health.

 

[tojothetoker]

eh, windmills are always a good option. kinda stupid how some people bitch about them "ruining the scenery" though...maybe ill switch to hydrogen cars xD $4 a gallon in an 01' cavalier isnt the most economical..

 

[NoDrama]

... crude oil per barrel rose from ~$30 to well over $100 in Bush's presidency alone. Drilling at home will do very little to reduce prices and poses serious risks - not only to our environment - but to our health.

I thought it funny you would bring this statistic up. Lets see what other TRUE observations we may make about this data shall we? When Bush took office oil was at $40 a barrel, when he left office it was at $42 a barrel. When Obama took office it was at $42 and is now at $98, but got as high as $110. It took Bush nearly 7 years to go from $40's to $100's, it only took Obama 30 months to do the same.

Now how much of these price drops and hikes do you think were the fault of the Presidents at that time? Do you really think its Obama's fault Oil is $100 a barrel? Im sure attacking Libya didn't help, but I really don't think it was him directly responsible for fuel prices, just like it wasn't really Bushies either.

The price of oil will still be going up over the mid and long terms, inevitable.

 

[mame]

I thought it funny you would bring this statistic up. Lets see what other TRUE observations we may make about this data shall we? When Bush took office oil was at $40 a barrel, when he left office it was at $42 a barrel. When Obama took office it was at $42 and is now at $98, but got as high as $110. It took Bush nearly 7 years to go from $40's to $100's, it only took Obama 30 months to do the same.

Now how much of these price drops and hikes do you think were the fault of the Presidents at that time? Do you really think its Obama's fault Oil is $100 a barrel? Im sure attacking Libya didn't help, but I really don't think it was him directly responsible for fuel prices, just like it wasn't really Bushies either.

The price of oil will still be going up over the mid and long terms, inevitable.

I used the numbers purely for perspective, I'm not trying to bash any presidents i just used bush's term as an example. The point I was trying to make is that domestic drilling isn't really going to curb costs hardly at all. I'm def. not implying that presidents have anything to do with the price of gas.

I guess I could have easily said, "in the span of a decade gas prices went from as low as $30 to higher than $110 a barrel(obviously at $98 atm), domestic drilling near the Alaskan wildlife refuge would only serve to lower this per barrel price by 50 cents... effectively less than a 2 cent decrease per gallon at the pump... Considering health and environmental concerns, the costs are greater than the beneifits even with $5 a gallon gas."

Could've just left presidents names out of it, and should have, lest people think presidents actually have anything to do with gas prices (too bad people beleive this anyway!).

 

[NoDrama]

probably 50% of all US citizens believes it is the presidents responsibility for everything that happens. Like he by himself is running the whole country. LOL

 

[ink the world]

probably 50% of all US citizens believes it is the presidents responsibility for everything that happens. Like he by himself is running the whole country. LOL

Unfortunately you are right nodrama, too many of our fellow countrymen have no clue what really happens or why.

 

[jeff f]

You should check out the enviromental effects that fracking would have... Especially on water supply. Cancer is fun!

nevermind it wouldn't even help in the first place... For example, opening an Alaska wildlife refuge to oil development would only slightly reduce America’s dependence on imports and would lower oil prices by less than 50 cents a barrel, according to an analysis released in 2004 by the Energy Department. Here's a little perspective on that number: a $1 change in the price of crude oil is supposed to translate into 2.5ish cents per gallon at the pump... crude oil per barrel rose from ~$30 to well over $100 in Bush's presidency alone. Drilling at home will do very little to reduce prices and poses serious risks - not only to our environment - but to our health.

So you are fine with record oil company profits? And you are fine sending a majority of our dollar to other countries? And you don't really care how much granny has to pay to heat and cool her house?

Nice!

 

[jeff f]

probably 50% of all US citizens believes it is the presidents responsibility for everything that happens. Like he by himself is running the whole country. LOL

Nd you know that's total bullshit. So your saying quadafi farts and prices go up 30%% in 3weeks, but the potus has no control?

The Moon is made of green cheese!

 

[mame]

So you are fine with record oil company profits? And you are fine sending a majority of our dollar to other countries? And you don't really care how much granny has to pay to heat and cool her house?

Nice!

Believe me I care very much about granny it's just that I realize there is nothing the U.S. government can really do to drop prices. Dont kid yourself... Drilling more wont help. It seems the best way to reduce our dependance on foreign oil is to reduce our consumption of oil via using alternative sources.

 

[redivider]

just saw a report on CNN, you know oil companies are in hearings fighting to keep their tax credits in spite of record-breaking profits.

well, an oil exec admitted that supply/demand has little to do with the price of oil. if there was a direct correlation prices should be 60-70 bucks a barrel, not 100.

turns out speculation really is the reason our oil price is so high.

for the brain-dead:

he's basically admitting that no matter how much oil is drilled (supply), the price goes up b/c of speculation....


BOOOOOOOOOOOOOOOOOOOOM

 

[NoDrama]

The US Government could overnight bring the cost of oil to near the cost of getting it out of the ground. All they have to do is force all the commodity exchanges to do away with margin trades and make all the trading limited to liquidation orders only. In other words traders would only be able to sell oil, not buy it. Eliminate buyers, eliminate demand (Temporarily until black market trading takes over) crash the price.

Its been done before, to save the COMEX from defaulting on Silver on Monday, January 21st, 1980.

Rising prices of oil is not JUST speculation, there is rising demand and fear of inflation also.

 

[Dan Kone]

The US Government could overnight bring the cost of oil to near the cost of getting it out of the ground. All they have to do is force all the commodity exchanges to do away with margin trades and make all the trading limited to liquidation orders only. In other words traders would only be able to sell oil, not buy it. Eliminate buyers, eliminate demand (Temporarily until black market trading takes over) crash the price.

Its been done before, to save the COMEX from defaulting on Silver on Monday, January 21st, 1980.

Rising prices of oil is not JUST speculation, there is rising demand and fear of inflation also.

excellent post

 

[Dan Kone]

just saw a report on CNN, you know oil companies are in hearings fighting to keep their tax credits in spite of record-breaking profits.

well, an oil exec admitted that supply/demand has little to do with the price of oil. if there was a direct correlation prices should be 60-70 bucks a barrel, not 100.

turns out speculation really is the reason our oil price is so high.

for the brain-dead:

he's basically admitting that no matter how much oil is drilled (supply), the price goes up b/c of speculation....


BOOOOOOOOOOOOOOOOOOOOM

It really doesn't matter how much more oil we drill for, it will do nothing for gas prices because of our refining capacity. Those who are under the false impression that we can reduce gas prices by more drilling should really be yelling "refine baby refine". All new drilling would do is increase profits for energy companies.

The whole oil market is a sham anyways. When it's not speculators keeping the prices high, it's opec holding back supply. The idea that there is a drilling solution to a cartel controlled market is just laughable. If we somehow produced an extra 5% of the worlds oil supply, opec would just scale prices back 5% to keep the price where it is. These people aren't in a hurry to sell their oil. If new oil is drilled, they'll just sell less to compensate. They know they will sell it all eventually. New drilling might make a dent in their short term profits, but it makes no dent in their long term profits at all. Since most middle eastern oil fields are owned by families who do not need to explain quarterly profit reports to their shareholders, selling that oil over the next 50 years works out just as good as selling it over the next 10 years.

Drilling for oil really is just about the dumbest solution to our long term energy consumption problem we could possibly do.

 

[Dan Kone]

Nd you know that's total bullshit. So your saying quadafi farts and prices go up 30%% in 3weeks, but the potus has no control?

The Moon is made of green cheese!

Correct except for the green cheese part.

We don't produce as much oil as Libya. When Khadaffi farts, speculators buy up as much oil as possible because they see a potential oil shortage in the future.

 

[jeff f]

Correct except for the green cheese part.

We don't produce as much oil as Libya. When Khadaffi farts, speculators buy up as much oil as possible because they see a potential oil shortage in the future.

thats bullshit. so americans are just limited to sitting here and watching opec manipulate the market and we have to pay the higher prices cuz thats the way it is?

total bullshit. thats not the way it works at all. sure, thats the way it works with this crowd in office, but everytime a president says, lets get our own oil, the market nosedives. reagan, bush both did it.

you are being clowns on this and you know it. you want high oil prices cuz you think that means alternatives. well you aint getting alternatives for at least a decade probably a lot longer. all you are doing by folding your arms, is giving up the fight.

energy is a world wide fight worth having.

instead, you are happy with the dog and pony show in congress where we get people who are actually producing something, the oil companies, and run them through the mud cuz they are making a profit.

your attitude is defeatest and pathetic. and class warfare at its finest. pussies.

further, who gives a fuck if we let companies drill for more domestic oil, gas, coal? the only thing that will do is employ more americans at high wage jobs throughout the country. and who wants high wage jobs in this country? dopes.

 

[redivider]

thats bullshit. so americans are just limited to sitting here and watching opec manipulate the market and we have to pay the higher prices cuz thats the way it is?

total bullshit. thats not the way it works at all. sure, thats the way it works with this crowd in office, but everytime a president says, lets get our own oil, the market nosedives. reagan, bush both did it.

you are being clowns on this and you know it. you want high oil prices cuz you think that means alternatives. well you aint getting alternatives for at least a decade probably a lot longer. all you are doing by folding your arms, is giving up the fight.

energy is a world wide fight worth having.

instead, you are happy with the dog and pony show in congress where we get people who are actually producing something, the oil companies, and run them through the mud cuz they are making a profit.

your attitude is defeatest and pathetic. and class warfare at its finest. pussies.

further, who gives a fuck if we let companies drill for more domestic oil, gas, coal? the only thing that will do is employ more americans at high wage jobs throughout the country. and who wants high wage jobs in this country? dopes.

no. we are not limited to basically suck on opecs large oil producing c*ck.

we can start developing alternative energy sources for our vehicles.

we don't want high oil prices.

HIGH PRICES ONLY BENEFITS OIL COMPANIES WHO BASICALLY DESTROYED THEIR PROFIT PROJECTIONS. OVER A TRILLION DOLLARS IN PROFIT BETWEEN THE LARGEST 5 COMPANIES.

dog and pony show, haha.... great. the dog and pony show is how you are getting jacked around believing that somehow drilling for oil will reduce price. hahaha...

class warfare?? why??? because we don't want to give half a billion dollars in tax expenditures to the most profitable industry on record????

your attitude is holding us back from real progress.

the only thing that drilling for more domestic oil, gas and coal will have is continue to foster 100 year old technology and leave america with an antiquated energy infrastructure.

we need more alternative energy sources, we need to invest in the FUTURE. not the past......

 

[beardo]

Correct except for the green cheese part.

We don't produce as much oil as Libya. When Khadaffi farts, speculators buy up as much oil as possible because they see a potential oil shortage in the future.

We produce more oil than Libya