Obama done it again!

The president does play a role in what happens to oil prices via speculators. When the president intentionally drags the permit process along, which he's being held in contempt for, the futures market rises as the speculators recognize a lack of future supply. The driving force behind higher gas prices I would agree is the world economic stage. Global demand, the recession, and inflation all contribute.

It was in my original link and it's also in one of the EIA reports they link regarding previous administrations. You know that thing leftists always say about "drilling now will have no effect until X time." Well, his policies/permits have started to have an effect.

Yet another reason speculators have increased the value of crude. Supply already isn't even as good as it should be.

See above.

 

Still no proof Obama saying Bush caused the rise in gas as the OP claimed? Even after 8 pages? Wonder why that is?

 

The Cartel is controlled by individuals who can profit personally from the selling and re-selling of the 'glut' of oil that is trickled out to the gas pump albeit through an inadequate refinery capacity in the U.S.

The lack of adequate refineries here in the U.S. coupled with a moratorium on drilling has everything to do with enviro/government forces. Example: A relatively minor oil spill in the Gulf prompted Obama to shut down ALL drilling so as to placate the 'environmental' vote.

Such absolute control (by central powers) make the market react oddly...like now when there is a lot of oil but prices are skyrocketing.

The fact we are selling oil to foreign markets is because there is more profit in doing that than refining, reformulating, etc for U.S. consumption.

I am sure there are many more factors involved but, one thing is for sure, if you look at a market where there is an over-supply, you expect prices to lower not raise and anytime you see that there is manipulation going on.

 

So Obama is not responsible for oil production turning around and increasing for the first time in years, but is responsible for gas prices going up, because he is responsible that oil production didn't increase fast enough, even though it increased for the firt time in years.

Sure. Feel free to prove your not just spouting biased, baseless, nonsense.

You mean all those policies/permits the Obama administration could have stopped but didn't?

It didn't make sense to start drilling and fracking when oil was less than $40/bbl.

What about demand?

 

Because it was fabricated, most probably.

It's a common phenomenon in conservative posts, most likely from the conservative propaganda media most of them listen to.

 

I wouldn't be surprised if he did but there is no way I will jump on him if there is no proof he said what the OP claims.

So far there is nothing so I am calling the OP's claim bull (*)(*)(*)(*).

 

After 8 pages and 3 requests and no meat, you start to get the idea that there's not of substance to it.

 

I am confident there is no substance to it.

 

Oil production turned around because of permits issued by previous administrations. I don't get what's so difficult to understand about that.

I already said the driving force behind higher prices was the economy. The part that you don't want to accept is that Obama has not helped matters by denying permits for future drilling/exploration which affects the futures market. I'm not saying we'd be paying $1.50 at the tank if it weren't for him, nor have I ever. Speculators are betting the cost of the derivative (oil) will go up. Obama's actions have caused them to bet they'll go up that much more. To what extent? I have no idea, but to deny at least a marginal impact is simply ignorant. I don't think you can understand oil speculation and not see the link so here's:

http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

When a president's inaction is reason for applaud you know something is wrong with his administration.

Here's where, yet again, speculation comes into play. We aren't dealing with a real market anymore. It's all about perceived value. When it was $40/bbl who would have thought we'd have seen the increase in global demand we've seen today? I've already said demand plays a role. I think you're being unnecessarily confrontational and arguing about things I agree with you about. I'm sure WatcheroftheGate knows more about this than I, he seems to be up on his big oil news and inner-workings.

 

They've alwasy had permits. So what is different now?

Thanks. That's all we need to know.

Why?

Your the one who claimed Bush not Obama gets credit for supply going up and Obama gets blame for prices going up. I'm asking you to defend you positions. Sorry if you view that as confrontational.

 

Funny how this is completely irrelevant to the thread. Nobody here brought up abortion, contraception, or marriage. Get back to the issue

 

im not going to waste my time looking for something you can easily find yourself... Espeicially since it was one of the biggest parts of his election campaign.

 

I looked for it and couldn't find it. You made the assertion. The fact you cannot back it up says all we need to know.

 

I'm already late for a date so I'll have to keep this somewhat short. It seems to me you should look into the oil exploration and drilling process and the permits they require. I was operating under the assumption that you had an understanding of how they worked. It should help you understand what I've been trying to get across. If this thread is still going tomorrow, I'll try to chime in again.

We're dealing with an artificial market. Speculators in the past did not see the sudden increase in demand we have now and placed their bets on supply based on what they perceived was going to happen. Then we have an economic down-turn and an increase in global demand which caused prices to go up. Bush's permits/policies allowed for increased supply. It was supposed to be even higher if it continued on at the pace it was going which would have caused speculators to assume a higher future supply. Instead, this administration has been dragging its feet on federal permits. Now, when a speculator bets on the market, he perceives resistance from the White House to U.S. oil exploration/drilling in addition to all the things happening on the global economy. Thus, they bet that prices will rise, making today's oil that much more valuable.

It's a complete sham and there are many groups seeking to end oil speculation, but it's the world we live in.

 

Yes he did, although I will admit he didn't say Bush was the ONLY problem. Just a big problem. He also said Bush's deficits were unamerican, when his debt is already higher than Bush's 8 year debt. Then he said he didn't receive a single penny from lobbyists in the same speech in Indianapolis. Really? What a load of CRAP. He said he would make government more transparent, but I've never seen such a secretive government. He talked down about the wars in the middle east, but Obama has now had more than his fair share of "military action". He. Is. A. Hypocrite.

 

Please provide a source of Obama saying Bush caused the rise in gas prices.

You've been asked this repeatedly. You're failure to back up your assertion at this point supports the conclusion that you fabricated the facts. The fact that you have now once again repeated the assertion, without back up, and with an attempt to deflect with other assertions, leads to the conclusion that you are simply dishonest.

Feel free to prove these conclusions are wrong by citing to a reliable source to support your assertion.

 

San Fran Nancy pelosi practically screamed it out like
a commercial.Even held a Press Conference insisting so.
Come on ... you can't be this clueless.
You obviously subscribe to The Nation or Mother Jones.

 

I don't subscribe to either.

Did you have anything relevant you wanted to add to the discussion?

 

Yeah! You are absolutely right! Anyone who would blame gas prices on the president is obviously a hypocrite! Excellent post.

 

You made the claim you need to back it up. You can't and that is why you wont.

 

Show the quote of Obama saying Bush caused the gas price increase. That is what you said in your OP.

 

And that is another thing.
Just Who put YOU in charge of determing "relevance" ?
I get it ... liberals.
Liberals decide what is relevant or not.
Talk about getting outted.
Now don't you feel just a wee bit silly.
With all yer Liberal intolerance at bay.

 

That is what they call green energy my friend!!

 

Actually I hear that government gets more in taxes per gallon of gas than the oil companies.

 

You did when you responded to my post.

Did you have anything relevant you wanted to add?