OPEC controls world oil supply. If we maximized our drilling production,
trampling over every sensitive area and accepting that we are going to have a
lot more catastrophic oil spills, it still wouldn't make any difference in the
price of gas. OPEC would just produce a little less. They know what they are
doing and don't want price of oil to go down.Prices are going up at
the pump now, so people feel we must do something. It does not matter if that
something has no effect; it still feels like action. "We better drill; the
more holes we poke in the ground the better." That won't work because the
task of lowering the world price is just too big. Unfortunately, Republican
candidates realize that most Republican voters aren't that sophisticated. They
know their electorate doesn't realize oil goes on the world market; their voters
think we can lower the price of gas just within the US and aren't very concerned
about how much we trash our environment.
Just like peas in a pod, milk and cookies, wheels on a bicycle and matching
socks, most things in life are better in twos. Romney will be speaking at an
event sponsored by the Koch brothers. These are the same guys who made their
billions by jacking up prices at the pump and have already spent millions
spreading lies about climate change science. It's good to remember that, while
President Obama has outlined a strategy to ease gas prices, Romney quintupled a
tax on gas as governor on top of the gas tax Massachusetts motorists were
already paying. Gold climbs upward to $1779.00 per ounce, Silver $35.61 per
ounce, the dollar drops lower, it costs MORE dollars to buy oil then, a major
factor that people may not be thinking about is the weakening dollar, which has
been losing value over at least the past 10 years. Cause throughout the world,
when people trade in oil they trade in the dollar. There's no way to separate
oil from the dollar right now. So if the dollar is worth less, has less spending
power than it used to, it buys less oil. Countries that sell oil in dollars
and exchange it to their currency, end up with less money because of the
weakened dollar. So they charge more. And that higher price gets passed on to
Obama shot himself in the foot when he got all cranky and cut down Keystone.
The most important thing to remember is his defeat this fall.
Hmmm? If gas prices go up, it's because of Iran and George Bush.If
gas prices go down, it's because Obama is a great president.A
president with no faults, is changing our country.
@ Mike W. Gasoline prices are at record highs in much of the country for this
time of the year, never been this high with no end in sight as oil prices are
going up everyday! I do not doubt for a minute that Newt can get gas
prices to $2.50/gal or lower. All he would have to do is issue more drilling
permits, open Anwer and approve the Kesytone pipeline and watch oil prices fall
almost as if by magic! We could then tell Iran go ahead and close the straights
of Hormuz! We can tell the Saudi's to take a hike and be energy independant! Now
re: MountanmanI don't think Obama is even the worst president of the
last decade! You seem to forget how much prices rose 2001-2008. The majority
of oil pricing is out of the president's control and is dictated by
"speculation" and wall street greed more than Obama, Bush... for
Gingrich to promise $2.50 gas shows how much a desperate politician will lie to
try and get what they want.
The only way oil prices will ever return to economically sustainable levels is
through the elimination of speculation. Demand for oil in America is actually
falling, and has been for several years now as people drive less and cars become
more efficient. Yet the price keeps on rising.If I were a gas
company I'd be really scared right now. Despite all their efforts a real,
viable, affordable electric car for the average commuter is only 10-15 years
off. Keep hiking those prices and you may find that people don't need your
product in very short order.
@ Utahbluedevil. Thanks for your comments. Let me try to explain it this way.
Suppose you are in the oil business and its your job to buy future oil contracts
for delivery to refiners in the US. You see that Obama vetoed the Keystone
pipleline, vetoed drilling in Amwar and cut drilling permits by nearly half(the
drilling permits in N. Dakota were approved by GWB) compared to previous
administrations.These are the hard facts. Your competition knows it too so you
start bidding against each other for a decreasing supply of oil and an
increasing demand worldwide. The future supply of oil for you to buy is not
increasing as fast as the demand so, what do you think will happen to the price?
So, yes, it is a worldwide market but so is corn, wheat, rice and metals sold on
a world market and the reason those prices are at least stable is we produce
MORE to meet the demand so the price is stable. Oil is no different! Obama wants
to control the demand by controlling the supply, no matter how much it costs and
no matter how much economic suffering he causes! Remember cap and trade? That
tells you all you need to know about Obama and the future of energy in the US.
Mountainman - the only way a president can control what gas prices are is
through price controls. Even if we drilled every orafice this planet has, we
don't here in this country control global demand, and therefor have little if
any ability to manipulate prices. Commodity prices are driven by perceived long
term availability - a very free market and capitalist way to view the world.
Anything short of that is to have the US president play the role of Huge
Chavez.Brazil has worked har to dimminish its reliance on oil, and
therefor control its own destinany through drilling expansion, and aggressive
investments in alternatives to shift the demand equastion. Americans don't have
the courage or foresight to head down that path. Rather, they want to beleive
all he have to do is do the same thing, but more of it, and the problem will go
away. Like taxes, raising the amount of it doesn't reduce the demand side, if
anything it increases it. Why is it conservatives get that
principle with taxes, but not with oil?
Economy improving, that is very bad for the party of Doom and gloom. Maybe Glenn
Beck can stir up some unrealistic fear to drive up his gold sponsors income.
Obama has stated he wants high gas prices to create demand for green projects
and to force smaller, more fuel efficient cars. It will be interesting if people
will give him a pass on this rather than acknowledging his policies (not Bush)
are causing the high prices. He is purposefully not drilling in the U.S.
Barrack Obama= Jimmy Carter in the race for the worst president in the history
of America! So very similar in their failures, run away energy prices being just
Gingrich is promising $2.50 gallon gas if he gets elected. Like that is the
magic path to happiness in America...