Networks Hype Rising Gas Prices 4 Times More for Bush, Than Obama

[InTheLight]

Sometimes I think you just work to be contrary for contrary's sake:

Energy Secretary Steven Chu’s

Here is the statement that needs support:

predicted before his election that he would manage to drive the prices above $4 before the end of his first term.

So where is the link BEFORE OBAMA WAS ELECTED where OBAMA said his goal was to drive up the price of gas above $4 a gallon?

 

[glfredrick]

In 2011 Obama released some oil from the Strategic Petroleum Reserve to blunt rising gasoline prices; Bush did not do so in 2008.

And Obama had no effect, fuel prices rose after he did that for he gave away his trump card early.

What alternate timeline did this happen in? The reason why gas spiked in 2008 was because of several reasons--high demand esp. from India and China, low refinery capacity, and yes, speculation on futures pricing. You really think that Bush announcing he INTENDS to try to enact reforms caused speculators to curl up in the fetal position and suck their thumbs? No, the reason why gas prices plummeted in the fall of 2008 was because of the RECESSION. People were cutting back on everything, including driving. Sheesh!

Were you living under a rock? There is always demand, and there is never a "low supply" as claimed. One can purchase as much fuel as they like, whenever they like. Even back in the early 1980s when fuel took its first big hike to prices that seem more like normal to us now, I watched as oil tankers off-loaded into huge pits in the ground where the oil was lit on fire and burned. Meanwhile everyone was waiting around the block in line to purchase $5 worth of gas. That crisis was manufactured by the oil companies.

Futures raised the cost and the cost came down dramatically right after Bush made the call to start drilling off the coast of Florida. Those who control the futures market got the word... End of game.

The recession had no real impact on LOWERING prices. There is ALWAYS a demand for fuel, if not here, then overseas.

Seriously, buy a clue. The futures market is going crazy right now because of concern over Iran closing the Straits of Hormuz. You think prices would immediately drop if Obama announces a pipeline is going to be built so that in three or four years we will have Canadian oil being refined in Texas?

Yup... Part of their fear is that there will not be a ready supply. Just announce the pipeline, start a cat and trundle it in the direction of the place where they are going to build and watch the futures market collapse.

Link, please?

http://www.youtube.com/watch?v=5M1WlV7vafk

He even KNOWS what causing Iran to shut down the Straits will do, and he is causing it anyway.

http://www.youtube.com/watch?v=8D_IL3Vwbqg&feature=related

 

[InTheLight]

Futures raised the cost and the cost came down dramatically right after Bush made the call to start drilling off the coast of Florida. Those who control the futures market got the word... End of game.

You cannot seriously believe this. Futures are purchased in monthly increments. It takes about 4 to 5 years for an offshore drilling platform to get up and running and delivering oil. You are saying that crude oil futures traders--who buy contracts that are executed 30, 60, 90, 120 days from now--were spooked because there would be a miniscule amount of oil coming out of wells off shore of Florida in five years?

The recession had no real impact on LOWERING prices. There is ALWAYS a demand for fuel, if not here, then overseas.

Wow, just wow. When the stock market tanked when the housing/banking/mortgage crisis hit, THAT is when crude oil futures contracts started plummeting. Traders knew Americans were going to be hunkering down and buying less gas, therefore $4.00 per gallon prices could not be sustained.

Yup... Part of their fear is that there will not be a ready supply. Just announce the pipeline, start a cat and trundle it in the direction of the place where they are going to build and watch the futures market collapse.

Announce a pipeline, which won't come online for four years or so and the future contract price of oil 60 days from now will collapse? The Keystone pipeline is estimated to carry about 500,000 barrels of oil per day. That would amount to about 2.5% of the daily consumption by the U.S. That is supposed to scare traders and collapse the oil futures market? Again, what alternate timeline is that happening in?

 

[glfredrick]

Isn't Obama's news from yesterday proof that even he understands that MAKING A STATEMENT can move the market? He announced that he "may" once again release the oil reserves. He is hoping that his announcement will trigger a market change.

But, he is also a really bad card player... He will eventually play his trump card too soon, as he did last time, then have no power at all to bargain because he gave away all his other cards. Last time the let him flood the market, which sent fuel all over the world, but the price didn't really drop because of the actual release of suppply. Futures dropped when it became evident that the supply from the Middle East would not be effected.

Today, an annoucement of the pipeline would see futures prices drop dramatically, even though that is a long-future event, what it signifies is a willingness to DO SOMETHING tangible to reduce prices in America because of America.

Oh, and I noticed no rebuttal of Obama's last election prediction that he would indeed cause fuel prices to raise... :smilewinkgrin:

Did you hear the news this morning? Republicans think that the pipeline would help lower costs because it signifies OUR OWN ACTIONS for OUR OWN NEEDS. Obama says, rather, that "green energy" is the answer.

Which one of those statements will actually effect the market?

And, WHAT GREEN ENERGY? :BangHead: Non-existent!

 

[Earth Wind and Fire]

Isn't Obama's news from yesterday proof that even he understands that MAKING A STATEMENT can move the market? He announced that he "may" once again release the oil reserves. He is hoping that his announcement will trigger a market change.

does this mean he wants to sell more Chev Volts?

 

[glfredrick]

Isn't Obama's news from yesterday proof that even he understands that MAKING A STATEMENT can move the market? He announced that he "may" once again release the oil reserves. He is hoping that his announcement will trigger a market change.

does this mean he wants to sell more Chev Volts?

Sure... It costs US money every time he sells one. That is surely his goal.

 

[InTheLight]

Today, an annoucement of the pipeline would see futures prices drop dramatically, even though that is a long-future event,

I guess all I can say is I think you are wrong. An event 4 years down the road is not going to make the futures market "collapse" overnight. Just not going to happen.

Oh, and I noticed no rebuttal of Obama's last election prediction that he would indeed cause fuel prices to raise... :smilewinkgrin:

There's nothing to rebut. Obama did not say his goal was to have $4.00 per gallon gasoline by the end of his first term. He said he wished that prices rising to $4.00 gallon (in the spring of 2008) would have come more gradually, and that it was too much of a shock to Americans. Nothing about his intentions to cause the market to reach $4.00 a gallon. Nothing.

 

[billwald]

$1/gallon minimum should be added as a war tax.

 

[carpro]

It's hard to hype a known policy. Democrats have advocated higher gasoline prices for years to advance their green agenda and raise dollars for them to spend.

Democrats would only be upset that the increase in prices is not due to a tax increase on gasoline, but the rusult of their energy policies, that actually hinders their ability to raise taxes.