| Name: |
lotowner
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| Subject: |
$1.81/gallon in Jan. 2009
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Date:
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12/12/2010 5:25:57 PM
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Gas prices have risen $1 since just after President Obama took office in January 2009 and are now closing in on the $3 mark, prompting an evaluation of the administration's energy record and calls for the White House to open more U.S. land for oil exploration.
The average price per gallon across the U.S. hit $2.81 this week, according to the Energy Information Administration. That was up from $1.81 the week of Jan. 26, 2009, just after the inauguration, and marks the highest price since Oct. 20, 2008.
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| Name: |
Talullahhound
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| Subject: |
$1.81/gallon in Jan. 2009
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Date:
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12/12/2010 6:03:49 PM
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The price of gas is dependent upon supply and demand (as any good Conservative should know). Has nothing to do with who is in the WH. Blame China.
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| Name: |
lotowner
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| Subject: |
$1.81/gallon in Jan. 2009
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Date:
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12/12/2010 6:32:35 PM
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I'm assuming based on your comment that the current price of $2.89 is a supply issue and not influenced by traders on the NYSE.
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| Name: |
GoneFishin
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| Subject: |
HEY LOTTIE
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Date:
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12/12/2010 6:49:20 PM
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First you state the increased gas price is the result of the need to open more U.S. land for oil exploration. As you well know it is a combination of the need for more drilling and the trading of oil futures. You should have been more forthcoming in your original post and rather than blame it on Obama state that traders play a big part. Watch the price of oil on the commodity market and fill up if you see a spike in price before the pump price increases.
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| Name: |
water_watcher
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/12/2010 7:40:23 PM
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Suppy is up, demand is down. that is not what is driving gas prices. Since we import the majority of oil we use ... it is the weak dollar that is driving up the price. The foriegn price stays fixed, it takes more US dollar now to import.
So while a weak dollar drives more exports and may create some jobs ... a weak dollar is inflationary for anything we import.
So it is Obama and the dems policies that is driving gas prices.
Now when it really was supply and demand under Bush since the economy was much stronger, prices were high partly do to a weak dollar ... but compared to today it was strong, the dems back then wanted to say Bush was driving up gas prices because it helped big oil ... hmmmm ... now what are the dems saying.
So the answer is more domestric oil and less imports to control the price of gas.
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| Name: |
alahusker
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| Subject: |
$1.81/gallon in Jan. 2009
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Date:
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12/12/2010 8:38:38 PM
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Well, I'm not an economist.. but what I read earlier this week was that the price at the pump increase was directly related to a devaulated US dollar.. Ergo, cost of crude is spiking.. Kinda sounds like inflation, which could be the result of printing too much money, which could be the result of policy decisions, which George Bush made?? I really don't know, gives me a headache.. help me out gonefishing..
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| Name: |
Talullahhound
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/12/2010 8:44:59 PM
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Agree with you about the weak dollar. But I think you are really stretching for this one.
Everything I am reading indicates that Chinese increasing demands for oil are increasing the price. I have not read anything about a lessening of demand.
I should know by now that some of you would blame Obama for anything that happens or doesn't happen. It's going to be interesting when the new Speaker of the House takes control of the House. Everytime I watch him, I just go away shaking my head. Old Washington at it's best.
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| Name: |
comrade
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/12/2010 9:08:25 PM
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Isn't blaming those in power (or just removed from power) part of this administration's M.O.?
Hypocrisy??
I'll bet there is a great explanation......
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| Name: |
Talullahhound
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/12/2010 10:42:31 PM
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I have seen some, but I don't see any more than any other Administration. In fact, I haven't seen more or less of anything in this Administration than any other Administration. I think a lot of people have some very short (and selective) memory.
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| Name: |
GoneFishin
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/12/2010 11:50:54 PM
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As the global economy improves, the demand will increase faster than the supply. I don't believe we will see gas prices coming down.
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| Name: |
water_watcher
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| Subject: |
Facts .. lets agree
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Date:
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12/13/2010 6:23:25 AM
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Under Obama, supplies high (weak economy lower demand), but weak dollar(much lower than under Bush) is driver of high prices
http://www.commodityonline.com/futures-trading/tradingtips/Crude-oil-rises-on-weak-dollar-10619.html
http://www.boston.com/business/articles/2010/10/21/oil_prices_lifted_by_stocks_weak_dollar/
Under Bush ... demand high, but weak dollar is the driver of high prices
http://www.politico.com/news/stories/0608/10940.html
http://www.econbrowser.com/archives/2007/10/does_dollar_wea_1.html
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| Name: |
MartiniMan
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| Subject: |
Hound ... I am disappointed in you
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Date:
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12/13/2010 9:30:58 AM
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Hound, the number one factor for the U.S. regarding gasoline pricing is a combination of the value of the dollar and how much oil we import. As the dollar weakens the actual cost of imported oil goes up. Since the amount of imported oil is a function of domestic production (more of this means less imports) and demand it is true to say that the price is partially a function of the dollar and demand. However, domestic production is impacted heavily by government policy as was evidenced by the embargo on deep water drilling in the Gulf. Lots of other ways domestic exploration and production has been hampered over the last two years.
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| Name: |
MartiniMan
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| Subject: |
Want to bet?
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Date:
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12/13/2010 9:37:18 AM
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GF, I will bet you $10,000 that gas prices will go down again at some point in the future. Every time prices rise I hear prognostications about them never going down again. We heard that the last time the dollar went limp combined with the hurricanes impacting production in the gulf states and yet prices did drop when the dollar strengthened and production increased. It boggles the mind to hear people say such things about a natural resource because it defies all history.
I still remember when I worked in the oil industry in the mid 80s and was in Oklahoma at a restaurant and saw a really old, yellowed cartoon that read, "Dear God, please give us another oil boom, we promise not to piss this one away". It is a natural resource impacted by the value of the dollar and supply and demand and until its all gone, which isn't happening anytime soon, it will go up and down in price and I am willing to bet a lot of money on that.
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| Name: |
Talullahhound
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| Subject: |
Prediction
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Date:
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12/13/2010 4:58:30 PM
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I think gas will come close to $3 a gallon by Christmas, but I do believe it will come down again. The interesting thing is that Americans don't drive less when the price goes up.
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| Name: |
GoneFishin
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| Subject: |
Want to bet?
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Date:
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12/13/2010 11:45:31 PM
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Does you wife now that you are such a big gambler? I thought Catholics only played bingo. I reread my post and I did leave off two words "anytime soon". Makes somewhat of a difference. Thanks for keeping me honest.
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