And the pain at the pump due to curtailing American drilling lies squarely with Obama who advocates the utter nonsense of so-called "green" energy:
But Gas prices remain the same.
Sure would like to see that plummet. It’s plummeted like, 1 penny, in the last 6 months.
price isn’t going down, we know from reading the NY Times, that increased production doesn’t lead to lower prices.
Funny how...
Every time we increase production the media reports the price goes down.
And every time we talk about increasing production the media reports it won’t bring down the price.
Just no explaining that- since the media is honest and fair...
Is there a nice way to call these friggin liars “friggin liars”?
The price has not plummeted. They are still very high. Oil prices should be at about $30-40 if drilling was expanded.
And the pain at the pump due to curtailing American drilling lies squarely with Obama who advocates the utter nonsense of so-called "green" energy:
It is true.
We produced 194 million barrels of crude oil in March 2012.
This is the most we have produced since May 1998.
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M
Oil Tanker Rates Lowest Since 1997 as Demand in Europe Plunges
http://www.freerepublic.com/focus/f-news/2892191/posts
The headline indicates that American oil production hit a historic high, but the text indicates it is the highest in fourteen years.
At any rate, this is terrible news for the enviros and the ‘green energy’ president.
I’m. I’m not seeing it here in Fairbanks.
What price plummet? The only thing that has plummeted is the price of crude. Meanwhile the refining margins have zoomed.
In the last year crude oil has dropped about 25% from the high while gasoline has dropped only 10%. The oil industry doesn’t help their public image much when this much information is available.
http://gasbuddy.com/gb_retail_price_chart.aspx
Ping
It is an election year. Oil prices always drop in an election year.
Summer is just starting in the Northern Hemisphere...demand and prices should be going up—vacations, travel, and manufacturing should be ramping up, and demand should follow. Looks like the economy here, plus the impending collapses in Europe, make for some really dark clouds on the horizon.
It will be interesting to see how far prices drop, and whether and how much that drop may be stimulative.
I doubt such propaganda will yield much in the way of tourists recirculating the debt. Highways are relatively very quiet this summer, though not nearly as quiet as they’ll be after the bond collapse. The bond bubble situation is interesting to watch, though, as so much foreign debt is chased into our treasuries with baloney.
Without the big manufacturing base that we’re missing, the artificially, internationally propped dollar is going to eventually slap the economy down hard.
Under Obama we have seen Drilling is the USA almost halted, Oil Production has been reduced to a trickle, Oil prices have done nothing but increase and the American Oil industry Devastated.
$3.78 here in Burlington, VT