Barack Obama saysgas prices were low when he took office was because the economy was so bad

America's Watchtower ^ | 10/17/12 | Steve Dennis

[CPOSharky]

But, but.. After the crash of 1929 didn’t gas cost about a nickel a gallon? See, there’s the proof. (libtard logic OFF)

[um1990]

My question is this:

We are in the middle of the worst “recovery” in decades; i.e. the economy is still terrible.

If low prices were due to low demand due to poor economy, which we also have now, then;

When the economy actually does recover, are you saying, Mr. Presidont, that we will have gas prices like Europe, at $8-$10/gallon?

Which is what you’ve said are needed to help push us toward “alternative” energy sources Mr. Presidont? And by the way, electricity is not an energy source, it requires an energy source.

[Pres Raygun]

The premise to Obama’s argument is true, but his conclusion doesn't follow from that premise. Gas prices fell in 2009 from the 2008 highs because worldwide demand collapsed. The world economy did bounce back to some degree in 2010 due simply to the normal business cycle rebound. But then the debt crisis in Europe and Obama’s huge deficits stagnated growth. Current demand is too low to explain high gas prices. The reason gas prices are high today is because the dollar has fallen substantially over the last four years due to QE1, QE2 and now QE3. Over this last summer gas prices were starting to fall due to the softening of the economy, but that trend was reversed when QE3 started. The current high prices today are due to inflation caused by the Fed monetizing Obama’s trillion dollar deficits and not due to increased demand from a booming economy.

[Pres Raygun]

The premise to Obama’s argument is true, but his conclusion doesn't follow from that premise. Gas prices fell in 2009 from the 2008 highs because worldwide demand collapsed. The world economy did bounce back to some degree in 2010 due simply to the normal business cycle rebound. But then the debt crisis in Europe and Obama’s huge deficits stagnated growth. Current demand is too low to explain high gas prices. The reason gas prices are high today is because the dollar has fallen substantially over the last four years due to QE1, QE2 and now QE3. Over this last summer gas prices were starting to fall due to the softening of the economy, but that trend was reversed when QE3 started. The current high prices today are due to inflation caused by the Fed monetizing Obama’s trillion dollar deficits and not due to increased demand from a booming economy.

[Roccus]

Just gassed up...we are all the way down to $3.879 now. With my .03 discount from my Sheetz loyalty card, I had the privledge of paying $50.00 for 12.990 gallons of 84 (with 10% ethanol)