"Sorry, Mitt [and Newt], the President Doesn't Get to Set Gas Prices.

[Ibby]

http://www.nytimes.com/2012/03/18/op...myth.html?_r=2

Originally Posted by ROBERT B. SEMPLE Jr, NYT Editorial Page

If only the president had the power to give us $2.50-a-gallon gasoline, as Newt Gingrich promised to do if he got to the White House. It is ridiculous to think that a president can.

...

One can sympathize with consumers feeling the pain of higher gas prices. But the fundamental truth is that those prices are tied to the price of oil, set by world markets. There are peaks and valleys, but their causes — a worldwide recession, an embargo or conflict in the Middle East — are beyond the control of any one country. As the chart below shows, gasoline prices rise and fall in the same pattern throughout the world. Americans historically pay much less at the pump because they pay lower taxes; when the price of a gallon spikes at $3.70 in the United States, it is closer to $8 in, say, Germany.

Because oil is a global commodity, increasing domestic production will do very little to bring down retail prices, although it does help narrow the trade deficit as America spends less on imports. On this score, America is doing much better than the Republicans will admit. In 2005, oil imports accounted for nearly 60 percent of America’s daily consumption. In 2010, for the first time in recent memory, imports were less than half of consumption, and last year, imports were only 45 percent — 8.6 million barrels a day of the 19 million consumed. There are two reasons for this welcome shift: production is up and oil consumption is down. Production of crude oil and other liquid fuels, onshore and offshore, reached about 10.3 million barrels daily in 2011, its highest level since the late 1980s.

[Spexxvet]

Oh, come on. Obama is responsible for everything negative and nothing positive.

[infinite monkey]

My darling Bob had a nice closing commentary about gas prices this past Sunday:

http://www.cbsnews.com/video/watch/?...in;contentBody

[ZenGum]

Well, of course they don't set the actual prices, but they can influence the conditions. All they need to do is invade Iran, Saudi and Venezuela, seize the oil, and ship it back, while making it illegal to export petroleum from the US. Which they probably will.

Simple, really.

[classicman]

That has never stopped the "other party" from bitching.

The Democrats did and do the same thing.



There are plenty more of them if you'd like to see them.

[infinite monkey]

Originally Posted by classicman

That has never stopped the "other party" from bitching.

The Democrats did and do the same thing.


There are plenty more of them if you'd like to see them.

This is true. And of course I think an oil family like the Bushes would be more likely to be at fault that is why I posted Bob's commentary. He said the same thing that you said. It's always happened.

But we can blame Putin!

[classicman]

Also note that the 14 BILLION dollar plan she directed didn't do shit to lower prices.
jus sayin.

[Lamplighter]

Originally Posted by classicman

Also note that the 14 BILLION dollar plan she directed didn't do shit to lower prices.
jus sayin.

How can you say that ?

Pelosi (the Nazi witch, and source of all evil) was speaking in 2007,
and then, less than 18 months later the U.S. saw a precipitous drop
in gas prices from $4+ to less than $3 per gal.

Then, the GOP gained the House in 2010, and back
up went gas prices again to more than $4 per gal.

Nevermind any financial crises or OPEC production levels, the spells of
witches and correlations like that just can not be denied.
.

[classicman]

Well in your scenario the 14 BILLION lowered prices for a grand total of 6 months...
Woo Hoo - Not.

[ZenGum]

How about the $1 Trillion plan known as operation Enduring Freedom?

[HungLikeJesus]

Originally Posted by classicman

Well in your scenario the 14 BILLION lowered prices for a grand total of 6 months...
Woo Hoo - Not.

You seem bitter.

[classicman]

Me? not at all. Just thought about it after watching the video.

[Lamplighter]

Originally Posted by classicman

Well in your scenario the 14 BILLION lowered prices for a grand total of 6 months...
Woo Hoo - Not.

Classic, I'm sure you know I was kidding.
I certainly don't believe Pelosi caused the 2009 drop in gas prices,
or that the GOP caused them to go back up again in 2010.

And likewise, I don't think Pelosi, Reid and/or Obama are
the sources of all things evil.

Higher or lower gas prices being attributed, one way or the other,
during an election year is a faux-issue.

[classicman]

Yes Lamp. I knew. I do not however think that Ibby was aware that "his team"
did the same thing and the "other team" before and that its been going on for decades.

[tw]

Put $35 of gas in your car. Something like $5 moves the car. The rest is wasted as heat, noise, and pollution. If gasoline was so expensive, then we would have addressed this problem. We don't for one good reason. Gasoline remains cheap. Not if one is emotional. But the facts and numbers are that damning. Gas is so cheap that we waste that much of it.

Worry more about the price of milk - also approaching $4 per gallon.

Some organizations sell future contracts. They must have the fuel. When instability or fear exists, then these organizations consume and store fuel for crisis conditions. That also causes price swings. Normal and mostly trivial price changes that still get so many to become emotional.

If really concerned about gas prices, then never buy WaWa, Sheets, Hess, grocery store, US Gas, etc products. Because the actual price is something like 29 cents higher than its posted price per gallon. But again, many are only emotional. ignore facts. They buy convenience store gas because the price looks smaller. Add 29 cents to the posted price. That is what you are really paying if replacing feelings with facts.