Skip to comments.***The Economy Blame Goes To Bama's Gas Prices. Period***
Posted on 02/02/2013 8:07:29 AM PST by The Wizard
Let's be both honest and clear: it's the price of foreign fuel from all sources that is killing the economy....
You authorize the pipeline, drill and control the EPA and it's out of control regulations, free up the coal industry and gas drops to $2/gal.
Gas prices effect everything in America....trucking, food prices, energy prices etc.
And all the propaganda about electric cars....all BS...they act like the electricity will be free......not happening....so instead of the oil companies, it will be your local electric company....
Bama is an out of control and over his head president who is doing everything he can to harm America because he hates it. Just take the time to read his up bringing, and it will be clear.....
And beside, Valerie Jarret is the real president, someone totally unelected.
get gas to $2/gal and then talk to me.....
Just went up about 10-15 cents in the past week or so.
Gas prices aren’t going up
Dollar is going down
Two sides of the same coin - has the same effect.
Internationally oil is traded in US dollars. When the dollar goes down in value the price of oil goes up. When the dollar strengthens the price of oil goes down. Thanks to Bernanke and the Federal Reserve the dollar is going to continue to lose value so look for the price of oil to go up.
“Gas prices arent going up
Dollar is going down”
True, that is a factor, but don’t tell us that that is the sole factor. If what the poster says came to pass, you would see a marked drop in fuel prices. As for EV’s, what a load of crap they are. They have the utility of a golf cart!
Prices are goin up due to dollar going down. Fixed it.
Oil’s traded internationally. And since we liberalized our trade laws, and started sending tons of money to Asia for manufactured goods, there are now far more oil consumers than there were 20 or even 10 years ago.
Oil consumption in Pacific Rim countries has more than doubled since 2000. That means we have alot more competition every single day for every barrel of oil coming up out of the ground. Per-capita oil consumption in Pacific Rim countries remains low compared to US standards, but they a whole lot more ‘capita’. Pac Rim Asia now consumes more oil than the US by a fairly large margin. So really, it’s Asian demand more than anything else setting global prices for crude (and most other commodities) right now.
So when you combine the new overseas demand with all the new money creation going on here in the US, it’s really a wonder we’re not paying more than we are.
$2/gal gas is gone for good absent some major worldwide deflationary event (like a genuine global economic crash). And really, 5 years from now I think we’ll be looking at today’s $3/gal as being “the good ole days”. Wouldn’t surprise me a bit to see $5/gal unleaded come New Year’s Day 2015.
It is what it is. If we want to point fingers, we can thank Fed monetary policy over the last 15 years, globalization, Clinton, Bush, and Obama (and Wall St). Plenty of blame to go around.
“It is what it is. If we want to point fingers, we can thank Fed monetary policy over the last 15 years, globalization, Clinton, Bush, and Obama (and Wall St). Plenty of blame to go around.”
NO question that monetary policy has had a major impact on oil prices. But I doubt that that’s the entire story. This administration has done everything it could to stifle any meaningful way that we could increase our domestic supply. Plus they are whoring up the major sources of food with all this nonsense of putting corn-derived alcohol into our motor fuels. That is screwing the consumer in several other ways. Higher food prices because corn producers get more for their crops selling it for fuel than is the case for foodstuffs. And since the heat content of alcohol is a lot lower than gasoline, people are getting poorer mileage to say noting of the potential for substantial costs due to corrosion in their engines.
I’d love for Obama to get out of the way, too. But my motivation is employment, not oil prices. Fact is, those are set mostly by Asian demand at this point.
If the global market will clear at $100/barrel, then that’s what we have to pay. Drill, baby, drill (for jobs if nothing else). Neither bumping up US oil production by 25% nor building the proposed pipeline projects is going to drive gasoline prices back under $2.50/gal again. That would take a massive falloff in overseas demand and strengthening of the dollar.
I do agree with you that REQUIRING a portion of our agricultural output to be turned back in to fuel (at a net negative EROEI probably) is insane. We mostly have farm state senators to thank for that nonsense.