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1) America's credit rating would get so low that it would force President Dennis Kucinich to petition the UN for donations to pay for Social Security, Medicare, and his newly implemented 350 weeks of unemployment plan. 2) There wouldn't be a Pledge of Allegiance said in schools, no one would sing the Star Spangled Banner before any sporting event, and no one would celebrate the 4th of July. 3) Gas would cost $9 a gallon. Liberals would consider this a plus because it would cause more people to get tax credits to buy government subsidized $40,000 electric cars. 4) Seven...

To combat rising gasoline prices, anonymous White House sources are reporting that President Obama will release oil from the Strategic Petroleum Reserve. When Obama was inaugurated, the average gasoline prices were $1.84 per gallon, and oil was at about $39 for a 42-gallon barrel. On Monday, refiners were paying about $96 for a barrel of West Texas Intermediate, and the average price of regular gasoline was $3.72, up from $3.45 a month earlier. The 696-million barrel Strategic Petroleum Reserve, stored in underground salt caverns in Texas and Louisiana, exists to protect America against "severe energy supply disruptions," according to the...

Even as President Barack Obama considers using U.S. oil stockpiles to halt rising gasoline costs in an election year, a Reuters/Ipsos poll released on Tuesday shows economic pain at the pump is not a big concern for voters. Fuel and gas prices ranked last among 10 factors that influence voters in evaluating Obama's job performance and the country's direction, the poll found. Healthcare, the economy and jobs top the list, with gas prices also lagging behind foreign policy, immigration and education. "Gas prices, relative to the rest of this stuff, are much less important," Ipsos pollster Chris Jackson said. "People...

As gas prices climb back toward $4 a gallon, the Obama administration -- facing a tough re-election campaign and rising Middle East tensions -- is once again considering tapping the Strategic Petroleum Reserve. For years, administrations have bought and stored oil for emergencies, in fear of a cutoff of imported oil, as happened during the Arab embargo of 1973-74. But since 2009, the U.S. government has declared most federal lands off-limits to new oil and gas exploration -- despite vast recent finds of energy and radically new means to tap it. President Obama also canceled the most vital sections of...

You may pay more than ever for a late-summer drive. U.S. drivers paid an average of $3.72 per gallon on Monday. That's the highest price ever on this date, according to auto club AAA, a shade above the $3.717 average on Aug. 20, 2008. A year ago, the average was $3.578.

US Faces Stiff Opposition to Oil Release For Political Gain Published: Saturday, 18 Aug 2012 | 5:27 AM ET President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to quell rising energy prices on Friday, with Asian allies and the head of the West's energy agency rejecting any need for action now. A day after Reuters reported that the White House was "dusting off" plans for potentially tapping the Strategic Petroleum Reserve, the executive director of the International Energy Agency, Maria van der Hoeven, was blunt in her assessment: "There is no reason for a...

The prices that Americans pay for gas at the pump may reach an all-time high this summer. The average price is $3.70 per gallon, which is an increase of 30 cents since July and the climb in price from July to August was 9 percent. The increase is particularly concerning because a reduction in global demand, caused by a persistent world-wide recession, has kept demand for gas relatively low. Some have predicted that the price of gas will reach $3.90 per gallon before Labor Day. Gas prices have risen each month for seven straight months this year.

(Reuters) - The White House is "dusting off old plans" for a potential release of oil reserves to dampen rising gasoline prices and prevent high energy costs from undermining the success of Iran sanctions, a source with knowledge of the situation said on Thursday. U.S. officials will monitor market conditions over the coming weeks, watching whether gasoline prices fall after the September 3 Labor Day holiday, as they historically do, the source said. It was too early to say how big a drawdown would be from the U.S. Strategic Petroleum Reserve and, potentially, other international reserves if a decision to...

Gasoline and oil futures surged Tuesday to the highest prices since May, as traders predicted the damage from a fire at California's third largest refinery could take months to repair. The lowest retail gasoline prices of the year may already be behind us, some traders say, especially in light of this incident as well as refinery issues around the U.S. and across the Atlantic in the North Sea. September RBOB gasoline futures briefly topped $3 a gallon Tuesday, and settled just shy of that mark, near a 3-month high. The more than 2 percent gain in gasoline futures sparked big...

A major fire at one of the country's biggest oil refineries that sent scores of people to hospitals with breathing problems will push gas prices above $4 a gallon on the West Coast, analysts said Tuesday. Story tools 21 Comments E-mail a friend Print Share on Facebook Digg this Seed Newsvine Send link via AIM Tweet this Font size : A | A | A The fire, which sent plumes of black smoke over the San Francisco Bay area, erupted Monday evening in the massive Chevron refinery about 10 miles northeast of San Francisco. It was out early Tuesday, although...

Updated at 7:05 a.m. ET: A massive fire struck at the core of Chevron's large Richmond, Calif., refinery on Monday, spewing flames and a column of smoke into the air, and threatening a prolonged outage that may increase prices of U.S. gasoline. The fire was contained by 11 p.m. (2 a.m. ET), but not extinguished, according to the company. The fire has blazed for hours after it erupted at the refinery in a densely populated industrial suburb east of San Francisco. Smoke could be seen billowing over the Bay Area and four train stations were shut. Thousands of local residents...

RICHMOND -- Crews are responding to a large fire at the Chevron refinery in Richmond. Flames and at least two large plumes of black smoke are visible from as far away as the Bay Bridge and a shelter in place warning has been issued.

Now on Fox/Stuart Varney: regular gas up 24 cents in past 30 days. Saudi Arabia now in talks with Iran to form partnership (what great friends, the Arabians). In response, Obama sending private CA company first payment of $105M in our tax money for them to create fuel from household trash. Still refusing to allow any drilling in U.S. or offshore.

While the Obama administration was taking a victory lap last week after the 5-4 Supreme Court decision to uphold the president’s signature legislative accomplishment, Obamacare, the Interior Department was using the media black hole to release a much-awaited five-year plan for offshore drilling. That plan reinstitutes a 30-year moratorium on offshore energy exploration that will keep our most promising resources locked away until long after President Obama begins plans for his presidential library. (snip) In the past three years, the government has collected more than 250 times less revenue from offshore lease sales than it did during the last year...

7 cents per Kwhr equals $2.338 per gallon. Electricity Costs for 1 GGE = 33.40 kWh For Local Rate Per kWh $/Gallon Equivalent $0.07 = $2.338 $0.08 = $2.670 $0.09 = $3.006 $0.10 = $3.340 $0.11 = $3.674 $0.12 = $4.000 $0.13 = $4.342 $0.14 = $4.670 $0.15 = $5.010 $0.16 = $5.344 $0.17 = $5.678 $0.18 = $6.012 $0.19 = $6.346 $0.20 = $6.680 $0.25 = $8.350 $0.27 = $9.018 $0.28 = $9.352 $0.29 = $9.686 $0.30 = $10.020

Question: Do you fill your car’s tank with gasoline that is part cellulosic ethanol, an environment-friendly distillate of wood chips, corn cobs, and switch grass? Let me answer for you: No, you don’t. You couldn’t if you wanted to. Petroleum products blended with cellulosic ethanol aren’t commercially available, because the technology for mass-producing cellulosic ethanol hasn’t been perfected. None of which has stopped the Environmental Protection Agency from imposing hefty yearly fines on oil refiners. According to the The New York Times, in 2011 automotive fuel producers were assessed $6.8 million in penalties. That amount is expected to climb dramatically...

Good Morning America opens with Oil Prices. Gas prices below 3.00 a Gallon. No Bad news on the reason why the economy is crashing 3.00 only in South Carolina and Virginia ( skipped New York and California.

My mom out in California is elated -- gasoline prices in her neighborhood are below $4 a gallon for the first time in four months. Less so are the world's petro-rulers, who are watching the price of oil -- their life blood -- plunge at a rate they have not experienced since the dreaded year 2008. Industry analysts are using phrases such as "devastation" and "severe strain" to describe what is next for the petro-states should prices plummet as low as some fear. No one is as yet forecasting a fresh round of Arab Spring-like regime implosions. But that's the...

Actually, I know the answer to my own question. The answer is manyfold: Hussein has lifted the drilling moratorium; Hussein approved Keystone; Hussein has opened domestic exploration, drilling, and production; Hussein has opened the "strategic reserve"; Hussein didn't actually "invest" all those billions in Brazil's, etc. petroleum industries, he invested it our petroleum industry; Hussein Obama pees oil thereby increasing domestic supply driving the price down; isn't Obama wonderful? NOT I'm not an industry economist so what did I miss? Don't tell me it's all because of Memorial Day and summer's arrival, that doesn't make sense. This is not an...

"Everyone is entitled to their own opinions, but they are not entitled to their own facts." -- Daniel Patrick Moynihan Conservatives and liberals may disagree on reasons, motivations, and excuses for Barack Obama's performance, but the facts are still facts. There may be many reasons that a pro football coach goes 1-15, but everyone can agree that his record is still 1-15, right? Well, here are some basic facts about how the country is faring with Barack Obama in the White House. Take a look at the numbers, sans commentary, and make your own judgment about whether Barack Obama deserves...