Gas Prices Dropping Because Global Economy Awful. Expect That To Hurt Americans As Well.

[Redfish]

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

True, but eliminating the tax does not bring the price per barrel for shale oil down to a point where it would be profitable at $50 per barrel, the price the Saudis said they would sell crude at to put the shale producers out of business. The Saudis are still making a profit at $50 per barrel, their total upstream costs are $16+/barrel, whereas US shale is $75, Off shore crude is $51+, and on shore crude is $31+.

How much does it cost to produce crude oil and natural gas - FAQ - U.S. Energy Information Administration EIA

Yes, it costs more to produce oil in the USA than in Saudi Arabia. No one should be surprised by that. But why do we allow ourselves to be at their mercy? Why do we allow OPEC to dictate to us? Those are the real questions.

 

[nodoginnafight]

Another low-information OP

 

[Mertex]

stating facts is not spinning. would you prefer the lies spouted by MSNBC? At least Fox gives a voice to both sides.

No, you're not stating facts, you're stating talking points. MSNBC doesn't even try to make anyone think they are non-partisan, like Faux News does.

Faux News gives the right side from a positive viewpoint and the left side from a negative viewpoint. It may give voice to both sides but not in an unbiased way, and they are definitely rightwing minded.

 

[Eric Cartman]

l

Except the economy is growing and demand is increasing. The Saudis are flooding the market with reduced priced crude to cripple the shale production in the US and Canada. Shale production is only profitable when crude is over $80 a barrel. WTI is at $77 a barrel and has been as low as $75 a barrel.

Oil Price Fall Threatens US Oil Production

Oil Price Fall Threatens US Oil Production By STEVE AUSTIN for OIL-PRICE.NET, 2014/11/04

A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA's recent fracking boom will come to an end. Forces are at play to end the USA's projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA's long-term key supplier, Saudi Arabia, doesn't want to lose grip on its best customer.

High-tech US oil producers need $80 per barrel to be profitable. Saudis need only $50.

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

I thought your link was for a Texas state tax.

 

[Redfish]

stating facts is not spinning. would you prefer the lies spouted by MSNBC? At least Fox gives a voice to both sides.

No, you're not stating facts, you're stating talking points. MSNBC doesn't even try to make anyone think they are non-partisan, like Faux News does.

Faux News gives the right side from a positive viewpoint and the left side from a negative viewpoint. It may give voice to both sides but not in an unbiased way, and they are definitely rightwing minded.

if right means correct, then you are right.

 

[Redfish]

l

take the taxes off US produced oil and we would be competitive with the saudis.

Typically taxes are on profits not production so if they were selling at or below cost there shouldn't be any taxes. I am not a tax expert so feel to correct me if I am wrong.

Crude Oil Production Tax

Thanks, less than $5 per barrel when a barrel sells for $100.

times hundreds of millions of barrels. it puts a lot of money in the federal treasury.

I thought your link was for a Texas state tax.

similar rules in Louisiana and other oil producing states.

 

[Mertex]

stating facts is not spinning. would you prefer the lies spouted by MSNBC? At least Fox gives a voice to both sides.

No, you're not stating facts, you're stating talking points. MSNBC doesn't even try to make anyone think they are non-partisan, like Faux News does.

Faux News gives the right side from a positive viewpoint and the left side from a negative viewpoint. It may give voice to both sides but not in an unbiased way, and they are definitely rightwing minded.

if right means correct, then you are right.

That would be your dream.....but no, I meant right-wing.

 

[Mertex]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

 

[Redfish]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

 

[NYcarbineer]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

Gas prices fell to under 80 cents a gallon in 1986.

Was that because of Reagan's floundering economy?

 

[NYcarbineer]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

 

[NYcarbineer]

So all the high gas prices during the Carter administration were a sign of Carter's great economy?

 

[Redfish]

Gas prices soared around the time of Katrina.

Was that to GW Bush's credit? Was it his booming economy that caused that?

refineries were not operating, supply was cut----------------supply and demand, remember?

 

[Redfish]

So all the high gas prices during the Carter administration were a sign of Carter's great economy?

OPEC cut the supply, once again----------supply and demand sets the price.

 

[Redfish]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

Gas prices fell to under 80 cents a gallon in 1986.

Was that because of Reagan's floundering economy?

80 cents in 1986 plus 28 years of inflation = _____________

 

[Rozman]

Everyone knows gas prices are dropping because demand around the world is dropping for just about everything.

That means demand for people's jobs and services will drop too.

Expect the global slowdown to impact our own job market. A lower gas price won't be much consolation if more people become jobless.

The root of the problem???

Big spenders around the globe are driving their economies into the ditch. Just like Obama's doing.

I thought Obama was responsible for the price of gas dropping....
I saw a lot of Libs here thanking the President.
Well maybe in a way it was...

 

[candycorn]

Everyone knows gas prices are dropping because demand around the world is dropping for just about everything.

That means demand for people's jobs and services will drop too.

Expect the global slowdown to impact our own job market. A lower gas price won't be much consolation if more people become jobless.

The root of the problem???

Big spenders around the globe are driving their economies into the ditch. Just like Obama's doing.

I thought Obama was responsible for the price of gas dropping....
I saw a lot of Libs here thanking the President.
Well maybe in a way it was...

I made a thread about it and credited Obama in gest because for 3-4 years, Obama got blamed when the price went up although he has little to do with rises or falls in the retail gas market. One thing he actually did do was keep us out of Iraq in a big way. Gas goes up whenever we go in. So as far as that goes, he gets "credit" for something that had collateral effects.

Anyway, to "rebuke" this, the regrettable loser who started this thread first started 3 threads saying that Obama gets no credit for the drop in gasoline--it was a "good thing" 5 weeks ago.

On this one, the "economist" states that Obama didn't want low gas prices--this was back when lower prices was a good thing.
Obama Admits He Didn t Want Low Gas Prices US Message Board - Political Discussion Forum
So that makes this thread really sort of strange that all of the sudden, it's Obama's plan to hurt the nation.

"Big spenders around the globe are driving their economies into the ditch. Just like Obama's doing."

Anyway...now it's because of
Gasoline Below 3.00 A Gallon Only Because Of........ F R A C K I N G Not Obama US Message Board - Political Discussion Forum

Again, back when it was a good thing and private industry got the "credit" for this now-destructive force that is a harbinger of the oncoming world-wide depression.

According to the "economist", the cause first didn't do anything (there was a denial that prices were not even falling), then when that was no longer possible to ignore the price dropping it was because of fracking (not Obama)...now it's big spenders like Obama since the "economist" is now characterizing it as a "bad thing".

 

[Toro]

Gas prices are falling because we've found a lot of oil in the US and there is a lot of supply.

The US economy is growing at a healthy 3% clip.

 

[NYcarbineer]

Well, of course, we must blame Obama for gas prices dropping, if he was to blame for gas prices rising, then he must be to blame for them dropping!.....

OMG, do you libs understand anything? gas prices (actually crude oil prices) are driven by supply and demand, demand is usually higher in the summer because people drive more and use A/C in their homes. Supply is artificially controlled by the mid east ragheads because we let them. They can increase or decrease the flow of oil into refineries to keep the prices where they make the most money.
The US economy (somewhat controlled by the president's policies) also affects demand, a slow or stagnant economy does not raise demand so prices drop. And guess who is primarliy responsible for the economy, the government.

So, yes the president gets the blame for both rising and falling gas prices. Whether he personally caused it doesn't matter, he is the president. You fools are still blaming Bush for what is happening today, but you want obama to be blameless????? Sorry, it doesn't work that way

Gas prices fell to under 80 cents a gallon in 1986.

Was that because of Reagan's floundering economy?

80 cents in 1986 plus 28 years of inflation = _____________

Gas was about 1.30 a gallon when Reagan took office. It fell to 80 cents by 1986.

According to YOUR claims, that means that the economy sucked and Reagan was to blame for it.

Do you agree, or do you want to reveal that your claim was just partisan nonsense?

 

[NYcarbineer]

So all the high gas prices during the Carter administration were a sign of Carter's great economy?

OPEC cut the supply, once again----------supply and demand sets the price.

Oh, so now you concede that it is NOT about Obama.

So now apologize for being an asshole.