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To: bray
When he entered office it was 1.80 per and then he closed down the Gulf.

In 2000, the average price was 1.52.
In 2004, 1.89.
In 2007, 2.85.
In July 2008, 4.06.
In Jan 2009, 1.61
Today, about 3.48

Source: eia.gov historic view and eia.gov recent annual view

When Obama took office, gas was between 2.86 (Dec 2007) and 3.11 (Feb 2008), not 1.80.

Source: Gasbuddy.com historical chart
18 posted on 02/14/2012 6:26:37 AM PST by TomGuy
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To: TomGuy
Between Dec 2007 and Feb 2008? I believe Obama was inaugurated in Jan of 2009!
27 posted on 02/14/2012 6:52:41 AM PST by MissP-38
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To: TomGuy

Gasoline prices did drop momentarily, as you note, down to $1.61 (I think I paid $1.49 at one point). We know how to do it — crash the world economy. Not sure that’s a good idea now.

Oil prices have to come down significantly to get to $2 gasoline. We could produce everything we know about in the U.S., and wouldn’t get $2 gasoline. In fact, if oil prices were low enough to get $2 gasoline, it wouldn’t be economically feasable to produce new oil in this country. Certainly not mile-deep deepwater wells in the gulf, or shale oil conversions in the midwest.

THe only way I can think of to get to $2 gasoline is if I take all my money and invest it in oil companies. Last time I invested in an oil stock, the price dropped to 95 cents. :-)


46 posted on 02/14/2012 12:45:35 PM PST by CharlesWayneCT
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