Gas prices, thank you President Obama!

[Redfish]

It wasn't $1.89 in January?

It was $1.35 on January 11, 2009.

a barrel of oil was $24 in 2000

three factors between then and now-------supply, demand, and inflation.

 

[Siete]

It was $1.35 on January 11, 2009.

a barrel of oil was $24 in 2000

three factors between then and now-------supply, demand, and inflation.

futures traders/speculation/consumer sentiment supply/demand

in that order IMO


I was close ..

Unlike most products, oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination. Cyclical trends in the commodities market may also play a role. Regardless of how the price is ultimately determined, based on its use in fuels and countless consumer goods, it appears that oil will continue to be in high demand for the foreseeable future.

 

[Redfish]

a barrel of oil was $24 in 2000

three factors between then and now-------supply, demand, and inflation.

futures traders/speculation/consumer sentiment supply/demand

in that order IMO

we just said the same thing, but you don't realize it

 

[Siete]

three factors between then and now-------supply, demand, and inflation.

futures traders/speculation/consumer sentiment supply/demand

in that order IMO

we just said the same thing, but you don't realize it

What Determines Oil Prices?

 

[Avorysuds]

Obama controls the price of gas? The things you can learn here...

The joke is that so many claimed Bush controlled gas prices when he was President, that's why costs were so high. Now under Obama while gas costs more, liberals want to claim a President has no control over fuel costs.

Do you really need me to dig up old news as proof? I will, but I'll also know that you're an idiot if you need it.

 

[Avorysuds]

Wut? I've read on this forum numerous times that Obama is responsible for the price of gas.

Fail.

It was $1.89 when he took office.

there was a recession when he took office, demand was nearing all time lows

So thanks to Bush???

 

[Siete]

Obama controls the price of gas? The things you can learn here...

The joke is that so many claimed Bush controlled gas prices when he was President, that's why costs were so high. Now under Obama while gas costs more, liberals want to claim a President has no control over fuel costs.

Do you really need me to dig up old news as proof? I will, but I'll also know that you're an idiot if you need it.

bla bla bla

Oil is set by global markets
Gasoline is set by REGIONAL markets

the POTUS controls NEITHER !!!!!

gawd, people are D-U-M-B ... they OMIT FACTS and quote BS...

GASOLINE !!

http://www.eia.gov/energyexplained/index.cfm?page=gasoline_factors_affecting_prices

What are the main components of the retail price of gasoline?

The retail price of gasoline includes four main components:
The cost of crude oil
Refining costs and profits
Distribution and marketing costs and profits
Taxes


Retail pump prices reflect these costs, as well as the profits (and sometimes losses) of refiners, marketers, distributors, and retail station owners.


What determines the cost of crude oil?

The cost of crude oil as a share of the retail gasoline price varies over time and also varies among regions of the country. Crude oil prices are determined by both demand and supply. World economic growth is the most significant factor affecting demand. A major factor on supply is the Organization of the Petroleum Exporting Countries (OPEC), which can sometimes exert significant influence on prices by setting an upper production limit on its members. OPEC produced about 43% of the world’s crude oil in 2013. OPEC countries maintain nearly all of the world's spare oil production capacity, and possess almost three fourths of the world’s estimated proved crude oil reserves. Oil prices often spike in response to disruptions in the international and domestic supply of crude oil.


how STUPID do all of you OBAMMY bashers feel right about now?

DURRRRRRRRRRRRRRRRRR !

 

[boedicca]

This has nothing to do with Obama. Prices have dropped due to increased supply (thank you ND frackers) and CA refineries running a full capacity. In the past few years, there have been frequent periods where refiners were offline or running at lower capacity for maintenance issues, which lowered production capacity. That's not the case now.

Also, fairly soon, CA will switch to winter grade gas which is cheaper to produce.

 

[Redfish]

futures traders/speculation/consumer sentiment supply/demand

in that order IMO

we just said the same thing, but you don't realize it

What Determines Oil Prices?

your cite confirms what I said, and what you said. Are you on something this morning?

 

[Redfish]

Obama controls the price of gas? The things you can learn here...

The joke is that so many claimed Bush controlled gas prices when he was President, that's why costs were so high. Now under Obama while gas costs more, liberals want to claim a President has no control over fuel costs.

Do you really need me to dig up old news as proof? I will, but I'll also know that you're an idiot if you need it.

bla bla bla

Oil is set by global markets
Gasoline is set by REGIONAL markets

the POTUS controls NEITHER !!!!!

gawd, people are D-U-M-B ... they OMIT FACTS and quote BS...

GASOLINE !!

Factors Affecting Gasoline Prices - Energy Explained, Your Guide To Understanding Energy - Energy Information Administration

What are the main components of the retail price of gasoline?

The retail price of gasoline includes four main components:
The cost of crude oil
Refining costs and profits
Distribution and marketing costs and profits
Taxes


Retail pump prices reflect these costs, as well as the profits (and sometimes losses) of refiners, marketers, distributors, and retail station owners.

The actions of a president can have an impact. blocking offshore drilling, blocking keystone, blocking fracking-----all done by obama and all impacting supply. OPEC can also affect prices by slowing production.

Its not just the "evil" speculators and futures markets. Politics does factor in.

 

[Harry Dresden]

They were as wrong as you. No sitting President is responsible for gasoline and oil prices, it's the rich guys that back Republicans.

of course none of those rich guys back Democrats....

Sure, but were not the greedy ones that would fuck-over their family to make a buck. We tend to be pro-middle class since we know that the way to a healthy economy is a strong middle class. Were pro-minimum wage hike. Were against corporate inversion. We know that lowering the corporate tax rate will allow corporations to pay zero tax and receive the use of services that taxpayers pay for zero cost.

anyone who believes a rich Lefty is any different than a rich Righty is rather naive...they both have something in common...MONEY.....and if push came to shove they would do everything they could to protect that wealth...including fucking the "common" guy over....

 

[Harry Dresden]

Here's your chart

The ONLY way to bring gasoline prices down is to cap at the pump. The only way that is going to happen is by getting rid of Republicans.

here it is again....its those nasty Republicans....

Everything that makes it difficult for middle class workers has been brought to you by the Republican Party.

oh you mean like they have done in my State....hey i hear ya....

 

[Siete]

The joke is that so many claimed Bush controlled gas prices when he was President, that's why costs were so high. Now under Obama while gas costs more, liberals want to claim a President has no control over fuel costs.

Do you really need me to dig up old news as proof? I will, but I'll also know that you're an idiot if you need it.

bla bla bla

Oil is set by global markets
Gasoline is set by REGIONAL markets

the POTUS controls NEITHER !!!!!

gawd, people are D-U-M-B ... they OMIT FACTS and quote BS...

GASOLINE !!

Factors Affecting Gasoline Prices - Energy Explained, Your Guide To Understanding Energy - Energy Information Administration

What are the main components of the retail price of gasoline?

The retail price of gasoline includes four main components:
The cost of crude oil
Refining costs and profits
Distribution and marketing costs and profits
Taxes


Retail pump prices reflect these costs, as well as the profits (and sometimes losses) of refiners, marketers, distributors, and retail station owners.

The actions of a president can have an impact. blocking offshore drilling, blocking keystone, blocking fracking-----all done by obama and all impacting supply. OPEC can also affect prices by slowing production.

Its not just the "evil" speculators and futures markets. Politics does factor in.

then we agree to disagree .. everything you say Obama has done has only increased supply, so

so there
http://online.wsj.com/news/articles/SB10001424052702303825604579517221453119730

 

[BlindBoo]

It must be liberal magic. Barry goes golfing and gas prices drop six cents. When Bush left office gas was around $1.84.

Except that during Bushes 8 years in office the price of gas steadily increased, until the Bush Recession hit and then it jumped right back up after a few months.

Gasoline Price History

 

[BlindBoo]

It was $1.89 when he took office.

Two weeks before the election in 2008 gas prices were still around $3.50 a gallon.

Oil was 50.00 Brl on October 20th, 2008 or 2 weeks before the 08 election. Gasoline averaged 1.89 - $2.15.

The major increase in gas prices happened while Bush was in office.

Gasoline Price History

 

[BlindBoo]

The average U.S. price of gasoline has dipped 6 cents a gallon in the past two weeks and prices in California have fallen 9 cents in the same time period.

Survey: US Gas Prices Down 6 Cents a Gallon - ABC News

Kudos where kudos are due

Are you fucking high? They are almost double what they were under Bush and you think a 6 pennie roll back is a big deal? Go suck on someone else's cock if you want to impress someone.

The Highest prices were under Bush. Gas prices skyrocketed under Bush between 2005 and 2008. The only reason they dropped after Oct.2008 was the vast number of layoffs that occurred during the Bush recession.

Gasoline Price History

 

[BlindBoo]

Good lord, some people are so mentally impaired that they still believe Obama has anything to do with the price of gas. He'd make it 10 bucks a gallon if he could but he can't.

Wut? I've read on this forum numerous times that Obama is responsible for the price of gas.

Fail.

I remember reading numerous times on this same forum Bush was responsible for the price of gas I also recall in November of 2008 when Obama was elected gas here was down to $1.35 a gallon it is currently $3.25 a gallon.

09/29/2008 12.504 48.75 3.8990
10/19/2008 13.434 47.01 3.4990
11/04/2008 13.872 31.06 2.2390
11/24/2008 13.954 26.22 1.8790
12/16/2008 13.593 23.77 1.7490
12/19/2008 10.630 21.25 1.9990
12/24/2008 4.336 7.58 1.7490
12/29/2008 13.380 21.26 1.5890
01/22/2009 13.809 25.39 1.8390
02/11/2009 13.731 27.31 1.9890

http://www.randomuseless.info/gasprice/gasprice.txt

 

[healthmyths]

Obama controls the price of gas? The things you can learn here...

The joke is that so many claimed Bush controlled gas prices when he was President, that's why costs were so high. Now under Obama while gas costs more, liberals want to claim a President has no control over fuel costs.

Do you really need me to dig up old news as proof? I will, but I'll also know that you're an idiot if you need it.

bla bla bla

Oil is set by global markets
Gasoline is set by REGIONAL markets

the POTUS controls NEITHER !!!!!

gawd, people are D-U-M-B ... they OMIT FACTS and quote BS...

GASOLINE !!

Factors Affecting Gasoline Prices - Energy Explained, Your Guide To Understanding Energy - Energy Information Administration

What are the main components of the retail price of gasoline?

The retail price of gasoline includes four main components:
The cost of crude oil
Refining costs and profits
Distribution and marketing costs and profits
Taxes


Retail pump prices reflect these costs, as well as the profits (and sometimes losses) of refiners, marketers, distributors, and retail station owners.


What determines the cost of crude oil?

The cost of crude oil as a share of the retail gasoline price varies over time and also varies among regions of the country. Crude oil prices are determined by both demand and supply. World economic growth is the most significant factor affecting demand. A major factor on supply is the Organization of the Petroleum Exporting Countries (OPEC), which can sometimes exert significant influence on prices by setting an upper production limit on its members. OPEC produced about 43% of the world’s crude oil in 2013. OPEC countries maintain nearly all of the world's spare oil production capacity, and possess almost three fourths of the world’s estimated proved crude oil reserves. Oil prices often spike in response to disruptions in the international and domestic supply of crude oil.


how STUPID do all of you OBAMMY bashers feel right about now?

DURRRRRRRRRRRRRRRRRR !

HOW stupid of YOU that you don't comprehend the cost of the components of a gallon of gas!
YOU are guessing so much it is unbelievable!
If you just used the internet you would UNDERSTAND that the following:

Why don't you CHECK this below FEDERAL web page For the FACTS!!!
What do I pay for in a gallon of regular gasoline? - FAQ - U.S. Energy Information Administration (EIA)

What do I pay for in a gallon of regular gasoline?

The national average retail price of a gallon of regular gasoline in June 2014 was $3.69.
The four main components of the retail price and approximate shares of the total price were

Crude Oil: 67%.The cost of crude oil as a share of the retail price varies over time and among regions of the country.
Refiners paid an average of about $104.00 per barrel of crude oil, or about $2.47 per gallon.

Refining Costs and Profits: 14%

Distribution, Marketing, and Retail Costs and Profits: 8%

Taxes: 12%. Federal excise taxes were 18.4 cents per gallon and state excise taxes averaged 23.52 cents per gallon.
Last updated: July 24, 2014


So 67% of the cost is based on the cost of CRUDE OIL!
What would be the biggest benefit in increasing the supply of CRUDE OIL????
Lowering the price of crude oil!

What has Obama done to prevent INCREASING THE SUPPLY OF OIL by US oil companies thus decreasing 2/3rds the cost of gallon of gas?
In other words what has Obama done to keep more oil from being produced?

Plus remember with his pen COULD sign more federal oil land exploration leases but has he???

In fiscal year 2010, 36 percent of our nation’s oil production took place on federal lands.
36%!!! 2010 OIL production from Federal lands!

Due to Obama Administration policies, by 2013,
only 23 percent of our nation’s oil production took place on federal lands.

Production on non-Federal lands, in contrast, is skyrocketing as hydraulic fracturing and horizontal drilling have increased production dramatically.
Oil production on non-Federal lands increased by 21 percent in fiscal year 2013 from fiscal year 2012 levels—an increase of almost one million barrels per day.

Likewise, natural gas production on Federal lands has been steadily declining, while natural gas production on non-Federal lands has been steadily increasing. In fiscal year 2013, natural gas production on non-Federal lands increased by 3 percent—654 billion cubic feet—and natural gas production on Federal lands declined by 9 percent—392 billion cubic feet.

Oil and Gas Production on Federal Lands Still a Disappointment - IER

So it is so simple...
Obama has LOWERED the Federal land oil production by 13% from 2010 to 2013!
Again.. if 2/3rds of cost of gas comes from crude oil price... then more crude oil would lower the price of crude oil and hence lower gas prices!

 

[healthmyths]

So above is the proof that Obama who stated:
I'd like higher gas prices, just not so quickly" LiveLeak.com - Obama: Id like higher gas prices, just not so quickly
he WANTS higher gas prices!
Again.. HE has reduced his Federal land oil leases from ADDING to the supply but has reduced the amount from 36% to 23%!
Again proof Obama WANTS to destroy America because as he has stated "I'd like higher gas prices"... and one way he can make
that happen is by NOT signing Federal oil production leases!

 

[regent]

Since American presidents have to assume the responsibility for gas prices, should the price of gasoline be a power given to presidents? Would the oil companies accept the president setting the price of gasoline?