In case you haven't noticed gas prices approaching record highs...

[thereisnospoon]

Umm the market is near all time highs.
But of course gasoline commodity trading has nothing to do with inflating gas prices does it?

And the cheap gas in the end of the Bush admin was due to the recession.

I posted the links to illustrate the thoughts of commodities traders. DUH!
The fact that crude and gasoline futures prices are indexed to the US Dollar is the main reason prices are rising.
As the US Dollar continues to lose value vs major currencies, the commodity prices for these products rise outside of market fuindamentals. Those being supply and demand.
It is Washington's fiscal policy which is in part driving the cost of gasoline at the pump.

 

[Papageorgio]

A REPUBLICAN House committee is not a viable source for anything other than misinformation for the Misinformation Voter. The GOP has no credibility.

I guess it's a pretty difficult fact for you to accept: The House Committee on Natural Resources membership consists of 47 Representatives, 26 Republicans and 21 Democrats

In the House a simple majority rules, the Dems have no say in the taxpayer funded GOP propaganda the committee puts out.

Is that anything like the taxpayer funded Democratic Party propaganda the Senate puts out?

 

[Papageorgio]

Umm the market is near all time highs.
But of course gasoline commodity trading has nothing to do with inflating gas prices does it?

And the cheap gas in the end of the Bush admin was due to the recession.

I posted the links to illustrate the thoughts of commodities traders. DUH!
The fact that crude and gasoline futures prices are indexed to the US Dollar is the main reason prices are rising.
As the US Dollar continues to lose value vs major currencies, the commodity prices for these products rise outside of market fuindamentals. Those being supply and demand.
It is Washington's fiscal policy which is in part driving the cost of gasoline at the pump.

We keep printing money, the prices will continue to escalate, it is a problem that Washington has and it is getting worse, and guess who this hurts the most?

 

[Oldstyle]

How do any of you expect the economy to "grow" unless we pay more for things we already buy?

Wow...you really just scared me with that comment! Do you really think the only way an economy grows is by inflation? Where did you go to school?

 

[Spoonman]

Gas prices take bigger bite of Americans' income - Feb. 4, 2013


inflation has to be running at least 10 pct, and yet obama wants more or your money

funny how that happens when the election is secured for another 4 years. also funny how those speculators are still around who he promised to put an end to

 

[Oldstyle]

High crude oil prices (and consequently high gasoline prices) are funding the resurgence in two of the very, very few industries that are booming... and hiring. And creating much needed economic activity that contributes to the GDP, reduces imports, contributes exports, puts money in state and federal treasuries, etc. etc.

You're getting bang for your buck. Get over it.

Sure...fracking. Something that elements in the Obama Administration are now trying to stop to placate the environmental lobby which loaths everything remotely connected to fossil fuels.

The truth is...Obama has no energy policy that seeks to lower the price of oil or gas. The "resurgence" that you speak of has occurred where progressives have no control. Production is up on State owned and privately owned land while it is down substantially on land owned by the Feds.

Good points. But the goal of energy policy should not be to drive down prices, but to create a regulatory and taxing environment that encourages production.

And why do we want to increase production? Hint hint...supply and demand? The more oil we produce...the lower the cost "should" go. There's also the advantage of having a strong domestic oil production capability so that we aren't so dependent on oil coming from trouble spots like the Middle East. An energy policy that encouraged that instead of discouraged it would be a good thing. Too bad this Administration is more worried about placating the environmentalist wing than how precarious the situation IS in places like Iran and Iraq. If the shit DOES hit the fan over there we could see some horrendously high prices for oil that will destroy our economy.

Of course for the totally clueless...like USCitizen...those high prices will "grow the economy" (eye-roll)

 

[edthecynic]

Sure...fracking. Something that elements in the Obama Administration are now trying to stop to placate the environmental lobby which loaths everything remotely connected to fossil fuels.

The truth is...Obama has no energy policy that seeks to lower the price of oil or gas. The "resurgence" that you speak of has occurred where progressives have no control. Production is up on State owned and privately owned land while it is down substantially on land owned by the Feds.

Good points. But the goal of energy policy should not be to drive down prices, but to create a regulatory and taxing environment that encourages production.

And why do we want to increase production? Hint hint...supply and demand? The more oil we produce...the lower the cost "should" go. There's also the advantage of having a strong domestic oil production capability so that we aren't so dependent on oil coming from trouble spots like the Middle East. An energy policy that encouraged that instead of discouraged it would be a good thing. Too bad this Administration is more worried about placating the environmentalist wing than how precarious the situation IS in places like Iran and Iraq. If the shit DOES hit the fan over there we could see some horrendously high prices for oil that will destroy our economy.

Of course for the totally clueless...like USCitizen...those high prices will "grow the economy" (eye-roll)

Production has been up during the last 4 years, so there goes that bullshit. The more we produce the more we EXPORT!!!! The more we export the higher the price at home.

 

[BlindBoo]

Record highs?

$3.279 here yesterday.

Was higher than that under Bush.

Spread some fear with more truth in it next time.

true,after katrina gas prices sky rocketed ,and then Bush lifted the ban on off shore drilling and gas prices plummeted . gas was about $1.80 a gallon when Bush left office,and one of the dear leaders 1st actions in office was to reinstate the ban which helped cause fuel prices to soar during a economic downturn .

Katrina happened in 2005. President Bushes EO lifting the executive ban did nothing, congress had to act. They did in late Sept of 08. Lifting that ban had nothing to do with the price of gas. President Obama didn't ban deep water drilling until after the BP blowout. That ban was lifted in Oct of 2010.

 

[Oldstyle]

Good points. But the goal of energy policy should not be to drive down prices, but to create a regulatory and taxing environment that encourages production.

And why do we want to increase production? Hint hint...supply and demand? The more oil we produce...the lower the cost "should" go. There's also the advantage of having a strong domestic oil production capability so that we aren't so dependent on oil coming from trouble spots like the Middle East. An energy policy that encouraged that instead of discouraged it would be a good thing. Too bad this Administration is more worried about placating the environmentalist wing than how precarious the situation IS in places like Iran and Iraq. If the shit DOES hit the fan over there we could see some horrendously high prices for oil that will destroy our economy.

Of course for the totally clueless...like USCitizen...those high prices will "grow the economy" (eye-roll)

Production has been up during the last 4 years, so there goes that bullshit. The more we produce the more we EXPORT!!!! The more we export the higher the price at home.

Production has been up during the last four years (no thanks to the Obama Administration...but despite it!) but demand overseas has also increased, especially in China and India. That's where the bulk of our exports are heading. You would appear to think that increasing production hasn't helped to keep prices from rising even higher than they have in the US. Try cutting it and see what happens.

 

[Oldstyle]

Record highs?

$3.279 here yesterday.

Was higher than that under Bush.

Spread some fear with more truth in it next time.

true,after katrina gas prices sky rocketed ,and then Bush lifted the ban on off shore drilling and gas prices plummeted . gas was about $1.80 a gallon when Bush left office,and one of the dear leaders 1st actions in office was to reinstate the ban which helped cause fuel prices to soar during a economic downturn .

Katrina happened in 2005. President Bushes EO lifting the executive ban did nothing, congress had to act. They did in late Sept of 08. Lifting that ban had nothing to do with the price of gas. President Obama didn't ban deep water drilling until after the BP blowout. That ban was lifted in Oct of 2010.

The Obama Administration banned both deep water drilling and shallow water drilling (despite a safety record for shallow drillers that was amazing). The ban was "lifted" officially in Oct. of 2010 but the Obama Administration continued to stonewall drilling permits well after that date and continue to do so. Federal drilling permits are down 36% under the Obama Administration.

 

[Mr. H.]

Good points. But the goal of energy policy should not be to drive down prices, but to create a regulatory and taxing environment that encourages production.

And why do we want to increase production? Hint hint...supply and demand? The more oil we produce...the lower the cost "should" go. There's also the advantage of having a strong domestic oil production capability so that we aren't so dependent on oil coming from trouble spots like the Middle East. An energy policy that encouraged that instead of discouraged it would be a good thing. Too bad this Administration is more worried about placating the environmentalist wing than how precarious the situation IS in places like Iran and Iraq. If the shit DOES hit the fan over there we could see some horrendously high prices for oil that will destroy our economy.

Of course for the totally clueless...like USCitizen...those high prices will "grow the economy" (eye-roll)

Production has been up during the last 4 years, so there goes that bullshit. The more we produce the more we EXPORT!!!! The more we export the higher the price at home.

Exports bring hard cash into this country and reduce the trade deficit. Exports also mean more jobs here at home.

Why are we paying record prices for groceries while agriculture is allowed to export millions of metric tons of food and grains each year?

 

[edthecynic]

true,after katrina gas prices sky rocketed ,and then Bush lifted the ban on off shore drilling and gas prices plummeted . gas was about $1.80 a gallon when Bush left office,and one of the dear leaders 1st actions in office was to reinstate the ban which helped cause fuel prices to soar during a economic downturn .

Katrina happened in 2005. President Bushes EO lifting the executive ban did nothing, congress had to act. They did in late Sept of 08. Lifting that ban had nothing to do with the price of gas. President Obama didn't ban deep water drilling until after the BP blowout. That ban was lifted in Oct of 2010.

The Obama Administration banned both deep water drilling and shallow water drilling (despite a safety record for shallow drillers that was amazing). The ban was "lifted" officially in Oct. of 2010 but the Obama Administration continued to stonewall drilling permits well after that date and continue to do so. Federal drilling permits are down 36% under the Obama Administration.

Neither deep water nor shallow water drilling was ever banned. Yet another GOP lie fed to the gullible Misinformation Voter.

All NEW drilling permits were frozen temporarily on May 6, 2010 but the drilling moratorium did not affect the 4,515 shallow-water wells, and it did not affect 591 producing deepwater Gulf wells, and the moratorium on NEW permits was lifted one month later for shallow water drilling.

 

[Dubya]

Record highs?

$3.279 here yesterday.

Was higher than that under Bush.

Spread some fear with more truth in it next time.

true,after katrina gas prices sky rocketed ,and then Bush lifted the ban on off shore drilling and gas prices plummeted . gas was about $1.80 a gallon when Bush left office,and one of the dear leaders 1st actions in office was to reinstate the ban which helped cause fuel prices to soar during a economic downturn .

Katrina happened in 2005. President Bushes EO lifting the executive ban did nothing, congress had to act. They did in late Sept of 08. Lifting that ban had nothing to do with the price of gas. President Obama didn't ban deep water drilling until after the BP blowout. That ban was lifted in Oct of 2010.

Actually the BP blowout caused a ban on deep water drilling and that's SOP for any blowout and major leak. It's automatically suspended while safety and operational recommendations are reviewed. There was plenty of lying back in those days with claims the administration wasn't issuing permits and I was posting Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) reports on how many permits they were issuing, including deep water permits. This aren't really just misinformation campaigns by right-wing think tanks, they are campaigns to blatantly lie about things figuring more people will hear and believe the lie than see it refuted. It's been happening since the Bush became President on a massive scale.

 

[Samson]

that increases gas prices

Under the Clean Air Act, the EPA specifies a certain volume of cellulosic biofuels each year that it requires refiners to blend into gasoline based on "the projected volume available." Volumes of cellulosic biofuel that would enable refiners to meet the EPA threshold under the RFS -- 8.65 million gallons for 2012 and a proposed 14 million gallons for 2013 -- are not commercially available. As a result, the EPA has required refiners to buy credits to comply with the cellulosic mandate or face fines for noncompliance.

"Requiring industry to use millions of gallons of a substance that does not exist and in turn fining them for noncompliance is irrational and unfair," said Sen. Mike Crapo (R-Idaho).

DownstreamToday.com - News and Information for the Downstream Oil and Gas Industry