The problem with having a substantive debate on a fact based topic like this one
(influences on the price of oil both here and on the global market, is that
people who have the expertise to know the real answers are given the same size
megaphone as a school dropout or any of the numberless zealots and blind eyed
partisans who live in Utah. They are not interested in facts...they know the
truth and if you just listen to them they will share it with you. Nothing a Phd
economist with a specialty in the petroleum marketplace can say will change
their beliefs. Finally, they scream from the rooftops to "get the government
off our backs!" and then when the price of gas rises their scream changes
to: "why doesn't the government do something?"
Some of you are misunderstanding my previous posts. I know the President
doesn't have a whole lot to do with global oil prices, although the
President has put a damper on oil development in public lands.But
$3.00+ gasoline prices have become the new normal. In the present context I
only highlight the rhetoric we heard from Obama, Pelosi, and other Democrats
when gas prices shot up in what turned out to be a short-lived spike.They did not blame government spending or the war. They blamed
"oilmen" Bush and Cheney for kowtowing to oil company lobbyists and
letting big oil essentially write the national energy policy.Candidate Obama told us that under his "green energy" policies, the
problem of "high fuel costs" would be solved "once and for all."
He called the high gas prices in 2008 "bordering on a crisis" and that
families were being hurt. He blamed Bush directly. But now he's not
rushing to the microphone to mention high gas prices is he?My post
is simply exposing the rhetoric once employed by Obama and the Left. It should
tell us something about how far we can trust the rhetoric now.
2bits: "I know the President doesn't control oil prices. . . ."Central Texan: "WE certainly know how gas prices are at the mercy of
global markets, etc., etc. But do the Democrats?""Seems Pelosi
never got the memo on how oil prices are controlled by world markets."Oh, so you guys are saying that oil prices are set by the world markets
and the president doesn't have control over it. Hmnn. Okay. 2Bits: "When you say it's a GOOD thing for energy prices to
skyrocket, and your policy will be to see to it that they skyrocket. . . and at
the same time YOU PRETEND YOU HAD NOTHING TO DO WITH ENERGY PRICES INCREASING
(bold mine)... it just seems intellectually dishonest to me."Central Texan: " but under Obama we now have prices above $3.00 for 32
months in a row now, and counting."Wait!? What!? So you guys are
also saying the president (or just this president?) DOES have control over oil
prices?! What?! And in the same posts? Oh my. -Richards:
"The parallels between him and the "Kings" of Europe are too great
to ignore."The kings of Europe? Really? Care to be specific
"I thought the media was owned by liberals?"Really, Freedom
fighter? Okay, since you know who owns the media why don't you tell us who
the top six largest media owners are in this country? Now you have to do this
with out looking it up because you claim to already know. So this should be easy
for you. No cheating. Tell us the names of the owners. Tell us either the name
of the owner, or if it is a corporation tell us the name of the CEO and those
sitting on the board. Also tell us the politics of each of these people. Thanks
in advance. I'm sure this should be easy for you after your claim. Or are
you just another low information voter repeating whatever you hear on talk
@Mike RichardsSouth Jordan, UtahObama has no desire to help
America. His only desire is to eat cake while the rest of us grovel for crumbs
from his table. The parallels between him and the "Kings" of Europe are
too great to ignore. He thumbs his nose at us from the golf course, from Air
Force One, from Martha's Vineyard, from the "Rose Garden".7:42 a.m. Aug. 23, 2013Mike RichardsSouth Jordan, UtahLDS Liberal,Surely you jest if you're going to blame
Bush for high gas prices in 2007 and 2008. ========Meanwhile, here we have you blaming "King Obama" for everything
under the sun.Surely you jest...
"Surely you jest if you're going to blame Bush for high gas prices in
2007 and 2008. Have you already forgotten who controlled Congress in 2007? Hint,
it wasn't the Republicans. The Democrats, with their tax and spend
philosophy started spending us into oblivion. The world oil market reflected
total shock at what the Democrats were doing and prices went through the
roof."Probably one of the most creative - non fact based
interpretation of events. The Lengths Mike will go to in his ever expanding
quest to blame someone is an amazing things to watch. The idea
that the world was in "shock" over our spending.is what caused the
spike.... the jump from 2.7 Trillion to to 2.8 billion.... that jump.... shocked
the world. The jump from from 1.9 Trillion when Bush took over to 2.7
Trillion..... not shocking. 2.7 to 2.8.... shocking. That jump by .1 - that
was the start of tax and spend.Mike - you do realize as a percentage
growth, spending increased Less in the final three years under Bush then it did
in the first 5 years. Blame or credit who you like, but Its simple math Mike.
I don't particularly like Pres. Obama. No, I don't think he is a
socialist. Rather he seems to have some scary right wing tendencies.Anyhow, I don't think that the US is going to be energy independant. But
we are moving pretty hard in that direction. It might be in spite of Obama, but
it is happening on his watch.US oil demand has been around 15
million barrels a day for about 40 years. Oil imports have been on the rise due
to depleting domestice production. Alaska's North Slope has seen better
days. It is a waning field.But, with fracking in North Dakota,
there has been an upsurge of 1 million barrels of production of light sweet
crude in less than a year and it will go up by 2-3 million barrels in the next
few years. That is enough for there to be a long term downward trends in the
world oil prices.This is a game changer. In 20 years we'll be
seeing some crude oil production or price graph with time and there is going to
be a dip or spike which will be labelled "North Dakota Bakken Crude".
Mike Richards said, "Surely you jest if you're going to blame Bush for
high gas prices in 2007 and 2008. Have you already forgotten who controlled
Congress in 2007?"And who is controlling Congress now, Mike?
And don't even think about mentioning that Democrats control the Senate.
The unprecedented use of the filibuster by Republicans in the Senate and the
outrageous obstruction of anything associated with the president in the House by
the Republicans puts all the blame for what's going on now squarely in
Republican's lap. So who should the letter writer complain about?
The real truth is that the press, otherwise known as the media, is owned and
operated by businessmen for businessmen. When Obama made the promises to the
American people he like everyone else had no inkling of the opposition and
deliberate disasters that he would face by trying to do something for people
that might harm business profits. Even though business was fat
with cash from the long period of rising prices and flat wages business dug in
their heals and made good their threat to defeat Obama well after the election
was over. Their fat bankroll allowed them to slow down their businesses thus
putting workers out. Their dislike for the President when well beyond mere
disagreement.So President Obama didn’t do the things he
promised. But he real fault lies at the feet of those who were willing to do
harm to Americans just to feed their cause.
LDS Liberal,Surely you jest if you're going to blame Bush for
high gas prices in 2007 and 2008. Have you already forgotten who controlled
Congress in 2007? Hint, it wasn't the Republicans. The Democrats, with
their tax and spend philosophy started spending us into oblivion. The world oil
market reflected total shock at what the Democrats were doing and prices went
through the roof.When BUSH announced that we would be drilling for
our own oil instead of paying the oil cartels, prices dramatically went down.
(Ask Flying J what caused their great losses.) When OBAMA revoked those leases,
prices went right back up.Can you see the cause/effect relationship?
Can you see what happens when Democrats demand that we stop drilling? Can you
see the effects clearly? Anybody can Google for themselves the times, the
prices, and compare the price with the party in power.Just because
the media has abandoned its responsibility to report the truth does not mean
that anyone else has a license to distort reality.
"But do the Democrats? Does Barak Obama? They were certainly making hay over
the spike in gas prices that occurred during the last year of the Bush
Administration."@Central Texan.... this prices spike during Bush
because of war in the region which threatened a good deal of the worlds oil
supply. Yes.... conflict in the area impacts perceived availability of
products. A we serious that in Central Texas - that side of supply / demand
was not understood. You start a war... prices of oil go up. It has happened
every time.Or is this because some how we want to make this a
partisan issue.... not matter what it takes.Just so you feel
better.... when Democrats are in office.... and there is unrest in that
area..... prices spike then too. Doesn't matter who started it... fear of
shortages causes futures prices to rise.
If you're going to blame President Obama for gas prices above $3 a gallon,
why not also credit him for keeping U.S. gas prices well below the $6+ per
gallon paid by the Europeans? Both make equal (non)sense.
@Mike RichardsSouth Jordan, UtahWhat a bunch of smoke and
mirrors from those who site world-wide prices as the reason that gas costs so
much today. Gas costs more because the dollar is worth less. ======== Mike, Then how do you account for $5 a gallon
gasoline, when GW Bush was President, and the U.,S. was at an all time high?You can't.Your opinion is flat out wrong.Sorry,
try again.Besides, Whos to stop an oil company pumping oil out
of Utah, and selling it to Communist China?Your opinion is -
nothing, no one, free market, no regulation.I beg to strongly
Why should we think, when we can just blame the guy who tried to make it
better?Why should we forget that our side spends most of its time trying
to thwart him, putting aside the business of the American people, and
perpetuating resentment?Why should we forget that GWB was more or less a
puppet of Cheney, the Kochs, etc? Why should we forget that this is
AMERICA and we should support the President we have?---- and maybe we
should notice that some of excuse rude treatment of this President because he
represents the end of the "White men run everything" era?
"The public is better informed than it was ten years ago,” said
Republican pollster and strategist Mike McKenna. “There’s a better
understanding of how oil is priced, better information, better coverage in the
media.”While gas prices were almost a dollar higher when we
polled this question this year, the rate of increase was higher under Bush, and
the shock of that shift might have affected people’s positions.Bush also likely gets more blame because he launched the war in Iraq. During
his presidency, Americans named the war as a top reason for high gas prices. On
this, the facts support public opinion: While short-term administration policies
cannot really affect the price of gas, political events in the Middle East
can."(Washington Post 2012)
What a bunch of smoke and mirrors from those who site world-wide prices as the
reason that gas costs so much today. Gas costs more because the dollar is worth
less. Obama's administration has increased the deficit by well over
$5,000,000,000,000 since he took office. He's had to borrow money to cover
that excess spending. The Federal Reserve borrows $85,000,000,000 in bonds per
month to cover that spending.Our money is becoming worthless on the
world-wide market. Oil has become the new "dollar". We pay through the
nose because Obama has spent trillions more than he has received.No
amount of spin changes that fact. When the value of the dollar decreases,
things purchased from other countries cost more. Instead of producing our own
oil, instead of providing jobs in America, instead of increasing revenues from
income tax from those jobs, Obama has closed off drilling on "public
lands". Does he still not understand that the Federal Government does not
own Utah, Wyoming and Colorado? They are not part of the District of Columbia,
which is all the land that the Federal Government can own.
Remember Nancy Pelosi in 2008 when the gas prices zoomed above %3.00 per gallon?
She claimed that "multiple initiatives intended to lower high energy
costs" had been passed by the House, only to "run into a brick wall"
in the Senate. Pelosi went on Wolf Blitzer's show to proclaim, "The
price of oil is attributed to two oil men in the White House and their
protectors in the United States Senate."Seems Pelosi never got
the memo on how oil prices are controlled by world markets. Or maybe she was
just feeding us a huge load of political baloney.
I love the in depth study provided to DN readers by our informed commenters. WE
certainly know how gas prices are at the mercy of global markets, etc., etc.But do the Democrats? Does Barak Obama? They were certainly making hay
over the spike in gas prices that occurred during the last year of the Bush
Administration.You might have forgotten how then candidate Obama
stood in front of a gas station in Indiana to tell us how the high prices at the
pump were a "huge problem, bordering on a crisis." The spike in prices
above $3.00 as gallon lasted 8 months during the Bush years, but under Obama we
now have prices above $3.00 for 32 months in a row now, and counting.Candidate Obama never mentioned global markets then -- he blamed oilmen Bush
and Cheney for their "failed energy policies." "It's not
surprising," candidate Obama scolded, "that the laws that have come out
of Washington have been good for the oil companies, not so good for
consumers." He promised that, as President, the crisis of high fuel costs
would be solved "once and for all"
MaverickRe: "Do repubs know how oil is traded"?This
made me laugh so hard. Because I remember posting the same thing a few years
ago (and getting castigated by you guys blaming it all on President Bush).I guess it all just depends on which foot to shoe is on. If it's
a Democrat President... You defend him. If it's a Republican President...
It's his fault. That's partisanship for you.I know the
President doesn't control oil prices (hint neither did the Evil Bush and
Cheney). But they can do some to influence the United State's Energy
Policy. And President Obama's stated agenda is... "To see energy
prices skyrocket". And to him (and his radical GW buddies) that's a
GOOD thing!When you say it's a GOOD thing for energy prices to
skyrocket, and your policy will be to see to it that they skyrocket (because it
gets applause from your Global Warming fan-base)... and at the same time you
pretend you had nothing to do with energy prices increasing... it just seems
intellectually dishonest to me.
First you can do, don, is tell us what the president can personally do to reduce
fuel prices, since apparently you know what he has not done.
The United States in 2011 exported more petroleum products, on an annual basis,
than it imported for the first time since 1949. Petroleum products were ranked
second in value of all U.S. exports during 2011 at $111.1 billion, up 60% from
2010, according to U.S. Department of Commerce trade data. Why You
Are Paying So Much For Gas?The Commodity Futures Modernization Act,
allowed (among other things) speculation in a market that had previously been
dominated by actual end users of oil.The law, because it allowed
financial market participants to treat oil futures as just another investment
like Wal-Mart or Exxon stock, caused gas prices to become tightly linked to
stock market prices. This means that every time the stock market rises, oil and
gas prices get pulled up, too, and vice versa. (Forbes)
Ok... I work in the oil industry and I am really tired of really ill informed
statements like"it does matter whether it is on public or
private land."Even on private late, permits must be pulled. EPA
filings must be met. OSHA requirements must be complied with. There are rules
about transportation, permitting for transportation.... the list goes on and on
and on. Just like because you own a piece of land, doesn't mean you can
build what ever you want there.This has nothing to do with liberal
or conservative... it has to do with long term national economic security. If
our policy is to go off in some self indulgent rush to pump every available
barrel of out under US territories..... we become more exposed to foreign
leverage. Protecting our own reserves is a key part of securing long term
stability.This eat, drink and merry mentality - that there will not
be an economic impact of depleting our own reserves is about as short sighted as
it gets.If actual knowing the industry makes me a
"liberal"... fine so be it.... its better than rhetoric based on who
knows what... "drill baby drill"... good grief.
Two of the biggest factors in gasoline prices are crude oil "spot"
prices and crude oil "futures" prices. Changes in oil production by
Saudi Arabia have the greatest impact on spot prices, as they are by far the top
exporter of oil. Besides Saudi Aramco, other large petroleum companies
(ExxonMobil, BP, Shell, Chevron, etc.) have the ability to strategically
manipulate gasoline prices to some extent.Futures prices are
primarily driven by economic and political conditions in oil-producing
countries, so unrest in Egypt, Syria, and elsewhere in the Middle East, and
political uncertainty in Venezuela all have an impact on oil futures prices, and
by extension, on gasoline prices.I guess what I am saying is that
U.S. energy policy of ANY administration has minimal impact on the price at the
pump. That's not to say that it has zero impact, but it certainly
doesn't have major impact, either.
Was Obama President in 2007 when gas prices doubled to $4 dollars per gallon?
Darn that Obama! He thinks he's such a king! And he hates
America! And oil corporations. I'm guessing he has already taken away
billions in oil subsidizes to EXXON. How is EXXON supposed to survive?
Obama can only be blamed for bad things. The good things that happen
are because of Bush... Or job creators... Or Reagan.Those the the
rules.If you don't agree to those then you're an
anti-American Commie brainwashed by the main stream media. Thank goodness for
"Great Americans" on AM radio and Fox to inform us.
I thought the media was owned by liberals? So why then would they be
right in bashing Obama? Why would they even bash Obama in the first place if
they're all owned by liberals?
BlueDevil, JoeBlow,it does matter whether it is on public or private land.
Sorry you do not know the difference. But then, to tried and true liberals,
there are no such things as individual property rights.giving BO
credit for more oil production when he has little to no control on the private
land where the drilling is taking place is hero-worship in its worst form. A
better measure for giving credit or affixing blame for the level of domestic
production would be how much is being done on public land. Even then, the world
price effects whether or not it is easier to produce at home or import from
Do repubs know how oil is traded?If it is drilled here what is
keeping it from being sold in the open market to Asia? Do we realize
that our #1 export is fuel? "Energy Independence" is a pipe
dream. The only way we become independent is to nationalize our fuel and have
the federal government take control of our oil industry. Otherwise, drilling
more only means that there will be more to sell to other countries.
I don't care so much about the price of gas. I can control my use of gas
(not drive). But what I CAN'T control is the increase in cost for food,
etc.Has anybody noticed the price of ANYTHING you buy has gone up?
A LOT! I'm a bargain hunter, so I have a price_points in mind for
products I use. But you don't see those prices you used to see frequently
anymore. And the normal price of everything is also way higher than it was
before Obama.I can control my consumption of gas, but I need food.
The price of food and every item I need to live is climbing. And
this is the beginning, not the end. When economic_easing and the government
printing pretend money ends, the stock markets will tank. When liberals get
their Cap&Trade system they have wanted desperately, and President Obama
delivers on his promise to bankrupt the American Coal Industry... as President
Obama himself has said, "Energy prices will necessarily skyrocket".That doesn't mean only the prices of ENERGY will necessarily
skyrocket. The prices of EVERYTHING will necessarily skyrocket.
This letter writer is viewing his little knothole view of the world through
foggy rose colored glasses.1. Gas prices were HIGHER 7 years ago
during GWBush.2. The U.S. is producing MORE gas now than it was under
GWBush.3. If you want to drill and burn with lower prices, then
Nationalize the Oil industry, and stop selling it on the Global Markets --
because THAT'S what drives the prices, NOT a black Democrat sitting in the
Too funny Star."Gas prices when Pre Bush left office was below
$2.00!So we have more oil being drilled now - want to know who's land
it's on? Private Land-not owned by the gov!"You have all
the info you need to make a much more intelligent conclusion.You
agree we are drilling more than under Bush (what difference does it make whether
it is public or private lands) and that prices have risenWouldn't logic suggest that the amount of drilling in the US is not the
most critical factor, based on your own information?You do realize
that 6 months prior to Bush leaving office, gas was at an all time high
($4.00+)Please give me your explanation for that?
Oil is priced in dollars worldwide. As the value of the dollar declines due to
over-printing, in an attempt to prop up the economy, the price of oil rises to
adjust to the lowering value of the dollar. There are countries that are making
plans to replace the dollar in pricing oil, most notably Russia and China.
Bottem line is we are not paying more for gas so much as our money is worth less
and less so it takes more for a gallon.
Remember when 0bama said "energy prices would necessarily skyrocket!"
Yep, that's what he's doing. He refuses to take the money out of the
middle east & give it to our neighbor to the north who is not trying to blow
us up.I am speechless when I read the comments from our DN neighbors. Gas prices when Pre Bush left office was below $2.00!So we have more oil
being drilled now - want to know who's land it's on? Private Land-not
owned by the gov!Embarrassed Utahn: Gee we are looking at different
stories. We are the laughing stock of the world. No one can count on our word,
or our support. Have you been watching, reading, listening to what is going on
in Egypt? Have you been reading their signs. They get it! They know who 0bama
supports in the middle east and it isn't the people. Christian Copts are
being slaughtered by the MB & where is the voice of reason saying,
"stop?" I'm amazed & appalled.
Yes, lets waste more money on Solyndra!
One vote,Electricity does not actually grow on trees. It is made
mostly by burning fossil fuels, Despite the vast amount of tax money wasted on
green sources or electricity, it still can't be harvested from trees.
(Which makes taking a joy ride in the mountains risky in an electric car)
$1,000,000,000 per day is being sent to the Middle East to buy oil. Over
$2,000,000,000 per day is being spent on our military budget, a large part being
used to secure those oil fields and to fight terrorism paid for by oil money.None of that oil money pays for American jobs. None of that money is
collected in income taxes paid by working Americans. If we paid
Canada $1,000,000,000 per day for oil, would we have to secure delivery with our
military? Would Canada waste its money on terrorism?If we drilled
for oil in Utah, Colorada and Wyoming, all of that oil money would cycle through
our economy, benefiting Americans. Income taxes would be received by the
government instead of welfare being paid out from the government.Obama has no desire to help America. His only desire is to eat cake while the
rest of us grovel for crumbs from his table. The parallels between him and the
"Kings" of Europe are too great to ignore. He thumbs his nose at us
from the golf course, from Air Force One, from Martha's Vineyard, from the
The funny thing is the US has the highest oil production now - the highest in
decades - as well as the most diversified energy portfolio than it ever has.
Obama's impact on this - either way - has been marginal. The
biggest driver - oil over $80 a barrel makes a lot of the advanced extraction
techniques economically justifiable. If you were to see a measurable and
impactful decrease in the price of oil, you would also see a lot of these new
plats halt new exploration. The ironical thing is the thing that
will keep oil prices in check, is a diversified energy policy, something certain
branches of the conservative movement fight against daily. As stated above
Demand drives prices. US demand for oil has been ebbing for the last 6
years.... recession or not. I personally drive a new diesel to work - now
averaging nearly 50 mpg versus the 17-18 I used to get. I used to refuel
multiple times a week...now its more than two weeks between fill ups. I am not
alone. If you want cheap gas.... support alternatives to oil... and
we all will enjoy cheap gas for decades.
Buy an electric General Motors vehicle.
The President really doesn't have much power to impact oil prices because
it is a global commodity influenced by global forces... To blame Obama is
silly.First of all, gasoline prices fell with the economy's
collapse under President Bush -- unemployment skyrocketed, people weren't
driving to work, commerce came to a halt, and gasoline prices fell. If
anything, the rising price of oil and gasoline are in direct response to an
improving economy. Sad but true, but when oil consumption goes up, its price
goes up (law of supply and demand). Our first taste of $4 gas in 2008 was
during the Bush years.Second, oil production has actually increased
during the Obama years. Despite this increased production, oil prices have
continued to rise. Increased supply, consequently, hasn't kept prices down
because demand around the world is even higher. Third, natural gas
prices have fallen significantly during the Obama years. Do we blame or give
credit to him for that? No... actually, fracking (an invention developed by
tax-payer-supported innovations at the Department of Energy) led to a gas boom,
long in the making.Want price stable energy? Try wind and solar...
electric vehicles go hand-in-hand.
"I don't know if I can say directly what the president has done to
raise gas prices"So, you don't know what he has done to
raise gas prices, but you will blame him anyway.Wouldn't it be
more logical to research the causes of oil price fluctuation than to blindly
jump to a conclusion? The information is out there and fairly easy to find.Do you realize that the all time high ($4.12 in 2008) gas prices were
under G W Bush?Did you write in to the newspaper about Bush?Let me help you out.Oil is the largest component of gas prices.
Oil is a commodity. It WILL be sold to the highest bidder in the market, and
the market sets the price based on supply and demand. That is capitalism. Now, in 2009, we had a low of $1.61, also under Bush. Any idea what
happened in that short time to drop gas prices by that huge amount?Well, we had a global economic crisis. It caused demand to dry up. Blaming Bush for $4 gas is crazy. Crediting Bush for $1.60 gas is also
misplaced.Same goes for Obama.
In 2016 we'll bring on the next rational adult president. President Obama
is doing a terrific job helping America regain its status as respected world
leader. He's also done more for our energy independence than the last 3
Republican presidents combined. It was Bush, who through fraud and
incompetence, wasted trillions on unnecessary wars and freedom spreadin'
and corportate welfare for Dick Cheney's old pals at Halliburton. Next
time you want to find fault with someone over the decline of our nation, check
your own voting record.