Right Wingers eating crow on price of gasoline. $1.39 in Indiana.

[Ray From Cleveland]

Ray 13028254

Prices didn't start a sharp fall until early 2014. What do you make of that?

I have not argued that gasoline prices didn't start a sharp fall until early 2014. My point still is there was no material evidence that would justify predicting $7.50 gallon gas solely because Obama would be elected twice.

Who are you arguing with?

Go Browns.

My point is to show you that there is no way to accurately predict any commodity. If somebody knows of a way to do that, they would be worth multi-millions just selling books.

What the chart shows is that yes, gasoline did go up during the time these supposed claims were made. More than likely, you can't give me a half-dozen names of people that said $6.00--$7.50 a gallon anyway.

 

[NotfooledbyW]

Ray 13029277

More than likely, you can't give me a half-dozen names of people that said $6.00--$7.50 a gallon anyway.

Doesn't matter if it was one or one hundred - the RW echo chamber thrives on this kind of hooey.

Senator Mike Lee and Mitch McConnel were called on their bogus claims by oil experts long before the election. Here is a good report on that.

Regarding Mike Lee's prediction:

""It's a shameless, irresponsible statement," said Fadel Gheit, an oil and gas analyst at Oppenheimer and Co. (*1)

(*1) see link this post

Here is why it is shameless and irresponsible according to Gheit.

".... about 75 percent of the price of gasoline comes from the price of oil, and the price of oil is skyrocketing because of speculation and fears about the possibility of war spreading in the Middle East. About the only way that prices could spike as high as Lee has estimated would be if the United States attacked Iran soon. All this war talk is putting a 30 percent higher price on oil," Gheit said. "One third of the oil price right now is totally unjustified. The more war talk, the more we're going to pay at the pump." (*1)

Lee didn't mention Middle East war talk by RW neocons and that Ilk. Lee blames Obama for then current high gas prices for not producing enough oil on US public lands.

Senate Minority Leader Mitch McConnell (R-Ky.) made sure Mike Lee was not alone:

"When it comes to the rising cost of gas at the pump, it’s my view that the administration’s policies are actually designed to bring about higher gas prices," McConnell declared, asserting that the "burdensome" regulations restrictions on drilling and the recent rejection of the Keystone XL oil pipeline from Canada are to blame for high prices. (*1)

Truth is Drilling more would do nothing

"If we stopped speculation, tomorrow we would pay 50 cents a gallon less at the pump," Gheit said, adding that if the uncertainty over Iran were removed, the price of oil would be around $80, with correspondingly lower gasoline prices. Drilling more would do nothing, however. (*1)

"...extracting even more would not affect price at the pump "one iota," Gheit said, explaining that oil is traded on an international market and that even if war fears and speculation were not issues, OPEC still can change price." (*1)


Big Oil cut Refinery Production

"We shut down three refineries in the last three months -- 710,000 barrels a day are gone, evaporated," he said, by way of explaining why gas prices have risen even as demand has fallen. (*1)

.
Mike Lee, Utah Senator, Warns President Obama's Reelection Means $6.60 Gas While Experts Scoff
Mar 07, 2012 | Updated Mar 07, 2012

Michael McAuliff Senior Congressional Reporter, The Huffington Post

WASHINGTON -- Republicans hit the accelerator on Wednesday with their charges that President Barack Obama is to blame for high gas prices, with one senator making the extreme claim that the president's reelection will push costs to $6.60 a gallon.

“When President Obama took office, gas prices were about $1.85 per gallon," said Sen. Mike Lee (R-Utah). "Now that they're up to about $3.75 per gallon, we can see a steady increase. Over this 38-month period of time of his presidency so far, gasoline prices have risen on ... average of about 5 cents per gallon per month."

"This is staggering when you think about the fact that if he's reelected," Lee said, "it's a total of an additional 58 months. With that increase, gas prices will be up at around $6.60 per gallon."

Experts have said that $5-a-gallon gas is an apocalyptic price level that is extremely unlikely to be seen.

Senator Ups Ante, Says Keeping Obama Means $6.60 Gas

From that link:

"Experts have said that $5-a-gallon gas is an apocalyptic price level that is extremely unlikely to be seen."

Unless a US war is started with Iran.

And all this time Republicans did all they could to block the Iran Nuke deal from becoming a reality. The alternative to halting Iran's nuclear threat of course could only be war.

The nuke deal will keep oil prices down for at least two years experts now say. That is unless some other major disrupting event in the ME comes into being.

So back in 2012 it was all RW'er lies to blame Obama for high gas prices on drilling permits and the Keystone pipeline not being approved.

 

[NotfooledbyW]

Little trip down memory lane for self-induced amnesia prone RW'ers here:


Gas Prices To $5 Gallon 'Not Going To Happen,' Says Oil Analyst
Mar 01, 2012 | Updated Mar 01, 2012

. But will we really see $5 a gallon gasoline? "No. No, no, no," said Tom Kloza, chief oil analyst at the Oil Price Information Service, which provides research and investment information on the cost of oil. "$5 a gallon is an apocalyptic number ... It's not going to happen."

Let's All Calm Down A Bit...

.
"It's hyperbole," Kloza said.

Kloza says he's so confident we won't see $5 a gallon gas, he promised the folks at AAA that he'll wear a clown costume to their national meeting if he's wrong. Demand for gas is at a 12-year low, he said, down by 5 to 7 percent since last year, and U.S. gas consumption in January and February was at the lowest point since 2000.

Repubs blamed it all on Obama for not enough drilling on public lands and millions of RW'ers still believe that lie even now when gas prices are way down.

 

[NotfooledbyW]

Ray 13029277

My point is to show you that there is no way to accurately predict any commodity.

I have made no argument and do not rely on an argument that there is a way to accurately predict any commodity.

Who are you arguing with?

Your point upholds mine. Republicans were lying when they predicted (without a basis) that the commodity (gasoline) would go way up if Obama were to be elected to a second term.

So as you argue with yourself it is nice to see that you are arguing against yourself.

 

[NotfooledbyW]

Ray 13029277

What the chart shows is that yes, gasoline did go up during the time these supposed claims were made.

Of course those claims were made. It's why so many industry experts were obliged to debunk all the RW'er bull crap as they were saying it.

I did not argue that the price of gasoline did not go up at the time all those RW'er claims were being made.

They needed the price to be going up to falsly blame it all on Obama / public lands & offshore drilling restrictions / Keystone Pipeline rejection.

If oil prices never went up after 2008 they would never have touched the subject.

 

[Ray From Cleveland]

Ray 13029277

More than likely, you can't give me a half-dozen names of people that said $6.00--$7.50 a gallon anyway.

Doesn't matter if it was one or one hundred - the RW echo chamber thrives on this kind of hooey.

Senator Mike Lee and Mitch McConnel were called on their bogus claims by oil experts long before the election. Here is a good report on that.

Regarding Mike Lee's prediction:

""It's a shameless, irresponsible statement," said Fadel Gheit, an oil and gas analyst at Oppenheimer and Co. (*1)

(*1) see link this post

Here is why it is shameless and irresponsible according to Gheit.

".... about 75 percent of the price of gasoline comes from the price of oil, and the price of oil is skyrocketing because of speculation and fears about the possibility of war spreading in the Middle East. About the only way that prices could spike as high as Lee has estimated would be if the United States attacked Iran soon. All this war talk is putting a 30 percent higher price on oil," Gheit said. "One third of the oil price right now is totally unjustified. The more war talk, the more we're going to pay at the pump." (*1)

Lee didn't mention Middle East war talk by RW neocons and that Ilk. Lee blames Obama for then current high gas prices for not producing enough oil on US public lands.

Senate Minority Leader Mitch McConnell (R-Ky.) made sure Mike Lee was not alone:

"When it comes to the rising cost of gas at the pump, it’s my view that the administration’s policies are actually designed to bring about higher gas prices," McConnell declared, asserting that the "burdensome" regulations restrictions on drilling and the recent rejection of the Keystone XL oil pipeline from Canada are to blame for high prices. (*1)

Truth is Drilling more would do nothing

"If we stopped speculation, tomorrow we would pay 50 cents a gallon less at the pump," Gheit said, adding that if the uncertainty over Iran were removed, the price of oil would be around $80, with correspondingly lower gasoline prices. Drilling more would do nothing, however. (*1)

"...extracting even more would not affect price at the pump "one iota," Gheit said, explaining that oil is traded on an international market and that even if war fears and speculation were not issues, OPEC still can change price." (*1)


Big Oil cut Refinery Production

"We shut down three refineries in the last three months -- 710,000 barrels a day are gone, evaporated," he said, by way of explaining why gas prices have risen even as demand has fallen. (*1)

.
Mike Lee, Utah Senator, Warns President Obama's Reelection Means $6.60 Gas While Experts Scoff
Mar 07, 2012 | Updated Mar 07, 2012

Michael McAuliff Senior Congressional Reporter, The Huffington Post

WASHINGTON -- Republicans hit the accelerator on Wednesday with their charges that President Barack Obama is to blame for high gas prices, with one senator making the extreme claim that the president's reelection will push costs to $6.60 a gallon.

“When President Obama took office, gas prices were about $1.85 per gallon," said Sen. Mike Lee (R-Utah). "Now that they're up to about $3.75 per gallon, we can see a steady increase. Over this 38-month period of time of his presidency so far, gasoline prices have risen on ... average of about 5 cents per gallon per month."

"This is staggering when you think about the fact that if he's reelected," Lee said, "it's a total of an additional 58 months. With that increase, gas prices will be up at around $6.60 per gallon."

Experts have said that $5-a-gallon gas is an apocalyptic price level that is extremely unlikely to be seen.

Senator Ups Ante, Says Keeping Obama Means $6.60 Gas

From that link:

"Experts have said that $5-a-gallon gas is an apocalyptic price level that is extremely unlikely to be seen."

Unless a US war is started with Iran.

And all this time Republicans did all they could to block the Iran Nuke deal from becoming a reality. The alternative to halting Iran's nuclear threat of course could only be war.

The nuke deal will keep oil prices down for at least two years experts now say. That is unless some other major disrupting event in the ME comes into being.

So back in 2012 it was all RW'er lies to blame Obama for high gas prices on drilling permits and the Keystone pipeline not being approved.

I have no idea what that first link was about. As for the second, congrats, you found one person that said gas could hit $6.60. Just as I stated, you probably couldn't find a half-dozen Republicans that made similar statements.

Now as for "experts" they disagree all the time. They are just as wrong on predictions as they are correct unless it's something major like a huge flood that's going to wipe out a lot of farms or something.

Here is something about long-term predictions and commodities: those targets could change when even the slightest thing goes wrong. For instance, the price of gasoline could be predicted to decrease even more. A refinery fire can change that direction in a heartbeat. The price of hogs could be predicted to go up, a swine disease could cause panic in the market changing the direction. These things happen all the time.

So given the fact that the price of gasoline did increase, it gave many people the assurance that it may increase even more.

 

[Ray From Cleveland]

Ray 13029277

My point is to show you that there is no way to accurately predict any commodity.

I have made no argument and do not rely on an argument that there is a way to accurately predict any commodity.

Who are you arguing with?

Your point upholds mine. Republicans were lying when they predicted (without a basis) that the commodity (gasoline) would go way up if Obama were to be elected to a second term.

So as you argue with yourself it is nice to see that you are arguing against yourself.

Nobody can lie on a prediction. Don't you understand what a prediction is or what it means?

A prediction is a guess. A prediction is an expectation. Nothing more. People make predictions all the time that never come true. Look at your seven day weather forecast and see how inaccurate they are come the fifth, sixth or even seventh day. Sports predictions. Why do you think Vegas takes bets on those?

You can no more call anybody a liar that predicted anything about the price of oil or gasoline than you can call your weatherman a liar or a retired quarterback that took a job as a sports announcer.

 

[Oldstyle]

A speech is less convincing than action to increase drilling. You have any proof?

I have also laid out 'actions' by Obama that prove he meant more drilling when he said 'All of the Above" and every source because that included permitting drilling in the Alaskan Arctic Federal lands.

And look what Royal Dutch Shell did with that permission. They quit. Seven billion dollars spent to drill there and they quit after one test hole didn't show much promise to keep going.

That was action. So I have words and actions - you have nothing on either.

So his action to increase oil production was a permit that wasn't acted upon? LOL!

I don't care who you are, that's funny right there.

It's even funnier, Toddster...the permit TotallyfooledbyObama was referring to wasn't even issued by the Obama Administration...it was issued nine years ago...which means it was issued by the Bush Administration.

 

[Oldstyle]

Oldstyle 13025338

"Over drilling" is not what lowered prices!

Why do you RW'ers keep on arguing with yourselves? I am not saying "over drilling" is what lowered oil prices.

Two things must be repeated like RW talk radio
hosts do, so you can catch up and hopefully remember things.

1) all those things that you describe is what lowered oil prices and therefore gasoline. But you fail to acknowledge that alternative energy and renewables have also had an effect. So I essentially agree with your limited view point in that your list of factors as the most significant conditions in bringing gasoline down to today's levels.

2) the over drilling is a result not a cause of what you mentioned in (1). It is however solid proof that there was no need the past six years to drill ever inch of US land and coastline and specifically "public lands". Obama limited nothing and in essence unawaringly did Big Oil and we consumers a favor by slowing and reducing the pace of permitting on public lands.

My point about Royal Dutch Shell quitting the Arctic Seabed drilling that it was permitted is a case in point on that. Big Oil execs lose their minds when oil prices go way up. Obama kept them from wasting billions on over developing Federal lands.

That is the point about over drilling. Try to address the points I make rather than argue with yourself just because those are the only arguments you can win.

So now you're claiming that alternative energy and renewables is what brought the price of gas down? Care to back that assertion up with facts? My guess would be that fracking was by far the biggest contributor to oil and natural gas production gains and a large price drop on oil prices by the Saudis because of fracking producing so much was the result. Alternative energy and renewables would have been a drop in the bucket.

 

[rdean]

We had the best economy in the world BEFORE Barack Obama! His lack of leadership prolonged the "Great Recession" for years in the worst recovery from a recession in modern economic history. As his second term grinds to a conclusion he doesn't even TRY to put forth an economic plan to grow the economy because he's been out of ideas on how to do that since Larry Summers left after the fiasco of the "Obama Stimulus". Under Barack Obama the Fed has been forced to keep interest rates at almost zero for the longest sustained period in history. Why? Because every time they even HINT at raising them the stock market goes into a nosedive. That's not indicative of a strong economy...that's indicative of a weak one!

Your mindless obstructionist GOP has blocked all other solutions, functional moron.

Name an Obama "solution" to economic growth that the GOP has blocked, Franco. Better yet...name an Obama "solution" to economic growth that this President has even PROPOSED!

Everything, functional moron- CHANGE THE CHANNEL. Another stimulus, infrastructure jobs bill, raise min wage, tax the rich and corps more like their fair share and invest in America, free community college and training for 3 million tech jobs going begging etc etc etc. IDIOT.

Ah yes...another stimulus like the first stimulus that wasted almost a trillion dollars and didn't produce anywhere close to the jobs that you Progressives said it would? Infrastructure spending like in the first stimulus that Obama finally had to admit didn't produce the "shovel ready" jobs that you Progressives said it would? Raising the Minimum Wage that would cost jobs? Raising taxes that would slow investment and the economy? You have no more idea how to stimulate an economy than Barry does!

You live on a total bs planet. What Reagan did and worked once temporarily is NOT what is ALWAYS needed, dupe of the greedy idiot rich GOP. What the GOP has done is wreck the nonrich (YOU) and the country, dupe.

The Demise of the American Middle Class In Numbers.

Over the past 30 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – Congratulations to Emmanuel Saez
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis (BEA)
4 = Federated Prudent Bear Fund (A): Overview
4 = FRB: Z.1 Release--Financial Accounts of the United States--September 18, 2015
5/6 = 15 Mind-Blowing Facts About Wealth And Inequality In America

Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

Those are all numbers Republicans are thrilled with. Shows that everything they have done has worked.

 

[Oldstyle]

That liberal talking point might actually stand up to scrutiny if the numbers hadn't gotten worse under seven years of Barry!

 

[francoHFW]

A US town rejected solar panels because 'they'd suck up all the energy from the sun'

 

[NotfooledbyW]

Ray 13030851

predictions and commodities: those targets could change when even the slightest thing goes wrong.

Sorry, Mitch McConnel cited Obama's record from the first term and rejection of Keystone as why prices would go way up in his second term. The liar in such high public office did not predict something slight would go wrong in the future that could be predictable and certain to be Obama's fault.

My post yesterday at 8:51 PM:

"When it comes to the rising cost of gas at the pump, it’s my view that the administration’s policies are actually designed to bring about higher gas prices," McConnell declared, asserting that the "burdensome" regulations restrictions on drilling and the recent rejection of the Keystone XL oil pipeline from Canada are to blame for high prices. (*1)


Something "slight" was not going to do it anyways. Again/ the experts in March 2012:

.
Gas Prices To $5 Gallon 'Not Going To Happen,' Says Oil Analyst
Mar 01, 2012 | Updated Mar 01, 2012 Sharon Silke Carty

But will we really see $5 a gallon gasoline? "No. No, no, no," said Tom Kloza, chief oil analyst at the Oil Price Information Service, which provides research and investment information on the cost of oil. "$5 a gallon is an apocalyptic number ... It's not going to happen."

Let's All Calm Down A Bit...


MicConnell did not predict an apocalyptic event nor was he trying to do so. He was lying about the impact of US regulation on US domestic drilling.

That is why he was and is a liar when predicting high oil prices being surely the result of Onama's second term.

 

[Kosh]

Ray 13030851

predictions and commodities: those targets could change when even the slightest thing goes wrong.

Sorry, Mitch McConnel cited Obama's record from the first term and rejection of Keystone as why prices would go way up in his second term. The liar in such high public office did not predict something slight would go wrong in the future that could be predictable and certain to be Obama's fault.

My post yesterday at 8:51 PM:

"When it comes to the rising cost of gas at the pump, it’s my view that the administration’s policies are actually designed to bring about higher gas prices," McConnell declared, asserting that the "burdensome" regulations restrictions on drilling and the recent rejection of the Keystone XL oil pipeline from Canada are to blame for high prices. (*1)


Something "slight" was not going to do it anyways. Again/ the experts in March 2012:

.
Gas Prices To $5 Gallon 'Not Going To Happen,' Says Oil Analyst
Mar 01, 2012 | Updated Mar 01, 2012 Sharon Silke Carty

But will we really see $5 a gallon gasoline? "No. No, no, no," said Tom Kloza, chief oil analyst at the Oil Price Information Service, which provides research and investment information on the cost of oil. "$5 a gallon is an apocalyptic number ... It's not going to happen."

Let's All Calm Down A Bit...


MicConnell did not predict an apocalyptic event nor was he trying to do so. He was lying about the impact of US regulation on US domestic drilling.

That is why he was and is a liar when predicting high oil prices being surely the result of Onama's second term.

Fooled by Obama is running the far left narrative again:

 

[Ray From Cleveland]

Ray 13030851

predictions and commodities: those targets could change when even the slightest thing goes wrong.

Sorry, Mitch McConnel cited Obama's record from the first term and rejection of Keystone as why prices would go way up in his second term. The liar in such high public office did not predict something slight would go wrong in the future that could be predictable and certain to be Obama's fault.

My post yesterday at 8:51 PM:

"When it comes to the rising cost of gas at the pump, it’s my view that the administration’s policies are actually designed to bring about higher gas prices," McConnell declared, asserting that the "burdensome" regulations restrictions on drilling and the recent rejection of the Keystone XL oil pipeline from Canada are to blame for high prices. (*1)


Something "slight" was not going to do it anyways. Again/ the experts in March 2012:

.
Gas Prices To $5 Gallon 'Not Going To Happen,' Says Oil Analyst
Mar 01, 2012 | Updated Mar 01, 2012 Sharon Silke Carty

But will we really see $5 a gallon gasoline? "No. No, no, no," said Tom Kloza, chief oil analyst at the Oil Price Information Service, which provides research and investment information on the cost of oil. "$5 a gallon is an apocalyptic number ... It's not going to happen."

Let's All Calm Down A Bit...


MicConnell did not predict an apocalyptic event nor was he trying to do so. He was lying about the impact of US regulation on US domestic drilling.

That is why he was and is a liar when predicting high oil prices being surely the result of Onama's second term.

I'll tell you, trying to discuss issues like this with a liberal is like trying to talk to the wall.

Like it's real hard to find people that said gasoline wouldn't go that high. Wow, what an accomplishment. And because some said prices wouldn't, that makes all Republicans a liar because you also found ONE that said it would go over $6.00 per gallon.

You also can't get through your head what a prediction is. You think a prediction is a sworn testimony of actual facts. Speaking of facts, I've shown you the charts, I've shown you a FactCheck piece that did say drilling permits were cut by over 60%. I've shown you legitimate reasons why some or even many might have made such predictions of higher fuel prices. In spite of that, you put the palms of your hands to your ears and sign aloud.

As I've always said, the best part about being a liberal is never having to say you were wrong.

 

[NotfooledbyW]

Oldstyle 13031349

That liberal talking point might actually stand up to scrutiny if the numbers hadn't gotten worse under seven years of Barry!

What numbers got worse?

 

[NotfooledbyW]

Ray 13031725

Speaking of facts, I've shown you the charts, I've shown you a FactCheck piece that did say drilling permits were cut by over 60%.

I never argued that permits were not cut 60% and don't have to. That fact still could not produce the kind of gas price hikes that RW'ers were predicting? Newt Gingrich said $10 per gal gas to be blamed on Obama. He was running for President at the time. It could not happen specifically by the amounts that were stated and it could not ever be attributed Obama for causing it. Unless the U.S. Started a war with Iran under Obama. That was never likely either.

Weather predictions that turn out wrong are not lies because 90% of the time they turn out to be correct or very close.

The Obama gas spike lies were not close and no expert agreed with any of their unscientific assumptions. Not all predictions are lies when wrong. In light of facts known at the time the RW'er predictions of 2012 were a pack of lies and nothing more.

 

[Wilbur Right]

Grest thing about being a right winger like a Ray, is never ever having to say that lies and fears spread by innuendo and ommission work very well and have the added benefit of giving the person lying and ommitting a plausible denial about what was meant.

Republican politicians are MASTERS at this tactic. Ray has learned it pretty well also.

 

[easyt65]

Republican politicians are MASTERS at this tactic. Ray has learned it pretty well also.

I find it amazing that this moronic thread is STILL going on. Funny....

 

[easyt65]

"Oil prices drop towards 11-year lows on worsening glut"
LINK: Oil prices drop towards 11-year lows on worsening glut

"Oil prices fell for a seventh straight session on Monday, coming close to 11-year lows, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non-OPEC producers."

"Oil is coming under pressure as the lack of OPEC cuts mean incessant oversupply continues," said Amrita Sen from Energy Aspects think tank.

"OPEC has been pumping near record levels since last year in an attempt to drive higher-cost producers such as U.S. shale firms out of the market."

"Iran's crude oil exports are set to hit a six-month high in December as buyers ramp up purchases in expectation that sanctions against the country will be lifted early next year, according to an industry source with knowledge of tanker loading schedules."

"On Friday, the International Energy Agency (IEA) that the global supply glut was likely to deepen next year and put more pressure on prices."

-------------

There's the reason for the low oil prices. It has nothing to do with Obama!

(Now maybe this stupid damn thread will finally die....but I doubt it. Libs are 'deniers' and will never accept the truth.)