The true reason gas prices are declining..and it isn't being reported

[Synthaholic]

Yeah, unemployment is down to 5.9%, the stock market is at 16,986 and gas prices are finally under $3.00/gallon...The country is soooooo much worse off than 2009 when unemployment was 10% and the stock market was 6443.

Don't worry, Republicans are about to take over & piss off OPEC, destroy the US dollar, jobs & economy. They will hike payroll tax on workers to fund another wallstreet tax cut to destroy jobs in the USA.

Get back to us when that actually happens.

It happens every time they get power.

 

[thereisnospoon]

Too bad it isn't as low as it was when butthead took over the presidency.

It was only low because of the Bush Financial Crash, which sharply lowered demand.

Either you know this and you're just a dishonest piece of shit, or you're just a dumbass. I think you may be both.

What was the price on the day Lehman Brothers crashed?

Since you ARE a dishonest piece of shit, I'll answer it for you:

Lehman announced Chapter 11 on September 15, 2008.

Gas on September 15, 2008 was $3.84

Average gas prices September 15 2008

Since the economy never fully or even significantly rebounded from that time the price should have stayed low based upon that reasoning. It didn't. It went up for the same reason it dropped; supply side plans and restrictions.
Obama has kept the price high and hurt our economy as a result.

Name the action Obama took that has kept oil prices high.

Blocking Keystone XL for purely political reasons.
Chasing away over 50 Gulf Oil rigs which NEVER came back.
His general animosity to the fossil fuel industry.
Those so called oil land leases he released....Not productive enough to make it worth while for investors to touch them.
If you're going to insist Obama is a friend to the oil and gas business you're either a liar or a fool.
We already know you're an Obama suck up sycophant.
We also know you will vote for every lefty moon bat progressive liberal on your polling place's ballot.
Any more drive by comments?

 

[thereisnospoon]

Rosh, the green energy initiative has forced fossil fuel energies to be more competive. Along with the fall in demand by China, India, and Brazil, the prices have fallen.

I know you hate Obama, but on this issue you are cray cray.

Spinning a loss into a win? Please

 

[thereisnospoon]

"America has become in the last several years an energy-producing powerhouse. And sorry, Mr. President, I’m not talking about the niche “green energy” sources you are so weirdly fixated with.
Oil prices are falling because of changes in world supply and world demand. Demand has slowed because Europe is an economic wreck. But since 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years."

"Without this energy blitz, the U.S. economy would barely have recovered from the recession of 2008-09. From the beginning of 2008 through the end of 2013 the oil and gas extraction industry created more than 100,000 jobs while the overall job market shrank by 970,000."

The True Reason Gas Prices are Falling Hint It s Not Because of Green Energy

While this is all true, there is more to the story.

Saudi Arabia has not reacted to lower prices. This seems strange. Russia and Venezuela are in serious economic trouble as a result of falling oil prices. Iran is also feeling the pinch, to a lower degree. So why has SA - and by extension OPEC not reacted? The answer is a belief that they can actually push oil prices down to a level that shale extracted oil is not profitable. They think they can break the backs of the Frackers. It is unlikely to succeed, as Fracking in North Dakota has a break even of about $60 a barrel - far below the $83 break even for SA.

Further reading at;

Exclusive Privately Saudis tell oil market- get used to lower prices Reuters

There are other factors than just supply and demand.
In fact, over the last decade, supply and demand fundamentals have had very little to do with oil and gasoline market prices.
Two major contributors.....One, as compared to 20 years ago, there is about 100 times more cash invested in these markets. Investment comes from private traders in ETF's. Banks and other financial institutions looking for better returns on their cash as interest rates are not helping.
Oil is the new gold. As the value of the US Dollar fluctuates, money either goes into ( when the USD value falls) oil. Or when the value of the USD rises, money leaves the oil and gas markets and into The Dollar.
Typically as the US Dollar loses value, market prices automatically rise because oil and gasoline are traded in US Dollars.
In the past gold buying would increase on geopolitcal concerns. Over the last 10 years, oil and gas have been added to this .

 

[thereisnospoon]

In spite of Obama, huh? Sweet!

Are you claiming that Obama has supported and promoted Fracking?

Yer kidding, right?
Has Obama opened up and federal lands to fracking? No.
If it were politically possible for Obama to get away with, he'd do whatever he could to stop fracking.
I also believe he is capable, again if politics permitted, he'd jack the federal gas tax up by at least a dollar per gallon.
Everything Obama does is measured for the potential of political fallout or to his political benefit.

 

[thereisnospoon]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

Obama has nothing to do with increased domestic production; it is happening on private land not federal land.

And a huge part of the price decrease is because OPEC wants to halt this very domestic production by lowering the price enough to shut down marginally profitable US production.

But to give Obama any credit is a complete joke or a complete lie.

Ahh..Very good point. OPEC exists because the US allows it to exist.
OPEC has a vested interest in the throttling of US oil and gas production/ exploration.
Should the US become virtually oil independent, OPEC would be forced to sell it's product elsewhere. And with the US responsible for 25% of world consumption, that leaves the OPEC cartel in a world of shit.
If the US closes OPEC out of it's domestic market, the middle east would experience a dramatic political shift. One benefit is those rogue nations which use oil money to fund Islamic terror groups, would soon have to close the money tap. Helping to defund those savages.

 

[thereisnospoon]

Thank you President Barack Hussein Obama (D)

Can you tell us WTF Hussein had to do with it?

The OP is just pulling your chain. Do not engage the Obama sycophant

 

[thereisnospoon]

Democrats deserve retaining control of the Senate for low gas prices.

Newsflash....There is no "deserve"....Everything should be "earned" Including opportunity.

 

[rdean]

Fox News Slams Obama For Low Gas Prices After Slamming Him For High Gas Prices US Message Board - Political Discussion Forum

USMB Republicans better get on board. The talking points have changed. You need to run to "catch up".

 

[RoshawnMarkwees]

Too bad it isn't as low as it was when butthead took over the presidency.

It was only low because of the Bush Financial Crash, which sharply lowered demand.

Either you know this and you're just a dishonest piece of shit, or you're just a dumbass. I think you may be both.

What was the price on the day Lehman Brothers crashed?

Since you ARE a dishonest piece of shit, I'll answer it for you:

Lehman announced Chapter 11 on September 15, 2008.

Gas on September 15, 2008 was $3.84

Average gas prices September 15 2008

Since the economy never fully or even significantly rebounded from that time the price should have stayed low based upon that reasoning. It didn't. It went up for the same reason it dropped; supply side plans and restrictions.
Obama has kept the price high and hurt our economy as a result.

Name the action Obama took that has kept oil prices high.

Bush-era offshore drilling plan shelved - US news - Environment NBC News

 

[JakeStarkey]

And because the President and Congress haggled over the various issues of energy independence.

Any neo-con who all of sudden starts hailing "energy independence" as a plank of neo-conservatism is a liar.

Another pile of talking points seasoned with non-sequiturs

Thank you for your honesty in admitting that any neo-con talking about "energy independence' is a walk non-sequitur.

 

[JakeStarkey]

And because the President and Congress haggled over the various issues of energy independence.

Any neo-con who all of sudden starts hailing "energy independence" as a plank of neo-conservatism is a liar.

Another pile of talking points seasoned with non-sequiturs

Thank you for your honesty in admitting that any neo-con talking about "energy independence' is a walk non-sequitur.

Noticed Fox jumps on BHO when prices are high and when they are low.

There is your non-sequitur.

 

[KissMy]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

The POTUS hasn't done a God damned thing. All of the oil and gas production which is a major contributor to the additional production is done by private sector companies on private or state lands. The federal government has been marginalized. As it should.
And guess what.....Keystone XL is going to be completed. Obama is going to be furious because he won't be able to stop it.

You retard, Obama has not been stopping Keystone Pipeline.

- Keystone Pipeline Phase I, delivering oil from Hardisty, Alberta, to Steele City, Wood River, and Patoka, was completed in the summer of 2010 under Obama.

- Keystone Pipeline Phase II, the Keystone-Cushing extension, was completed in February 2011 under Obama. The pipeline from Steele City to storage and distribution facilities at Cushing, Oklahoma. These two phases have the capacity to deliver up to 590,000 barrels per day (94,000 m3/d) of oil into the Mid-West refineries.

- Keystone Pipeline Phase III, the Gulf Coast Extension, which was opened in January 2014 under Obama. It has capacity up to 700,000 barrels per day (110,000 m3/d).

Until this year there was no Bakken to WTI oil price spread creating a need for Keystone Pipeline Phase IV. You retards wanted the president to confiscate land from private US citizens before there had proven a need might exist for it. Yet oil & gas prices have fallen the most in the past year without Phase IV, because it has not been a vital part of the US recovery.

Obama has been a great president. He restored 10 million of the 18 million jobs Republicans destroyed. Ebola has not killed any US citizens in this country on his watch. Terrorist are not killing hundreds or thousands of US citizens on his watch as they did under previous presidents. US oil production has risen rapidly on Obama's watch instead of declining like it did on Reagan, Bush1 & 2.

 

[Rotagilla]

 

[JakeStarkey]

Kiss My makes the far right out of the mainstream reactionaries look like idiots.

 

[Ava]

And because the President and Congress haggled over the various issues of energy independence.

Any neo-con who all of sudden starts hailing "energy independence" as a plank of neo-conservatism is a liar.

Another pile of talking points seasoned with non-sequiturs

Thank you for your honesty in admitting that any neo-con talking about "energy independence' is a walk non-sequitur.

Noticed Fox jumps on BHO when prices are high and when they are low.

There is your non-sequitur.

Not so fast:

 

[JakeStarkey]

If Fox is telling it objectively, bout time.

 

[Pogo]

And because the President and Congress haggled over the various issues of energy independence.

Any neo-con who all of sudden starts hailing "energy independence" as a plank of neo-conservatism is a liar.

Another pile of talking points seasoned with non-sequiturs

Thank you for your honesty in admitting that any neo-con talking about "energy independence' is a walk non-sequitur.

Noticed Fox jumps on BHO when prices are high and when they are low.

There is your non-sequitur.

Not so fast:

Damn! Fox Noise agrees with me

Guess I told them.

 

[JakeStarkey]

As long as Fox is getting it right, finally, that's good.

 

[Synthaholic]

Too bad it isn't as low as it was when butthead took over the presidency.

It was only low because of the Bush Financial Crash, which sharply lowered demand.

Either you know this and you're just a dishonest piece of shit, or you're just a dumbass. I think you may be both.

What was the price on the day Lehman Brothers crashed?

Since you ARE a dishonest piece of shit, I'll answer it for you:

Lehman announced Chapter 11 on September 15, 2008.

Gas on September 15, 2008 was $3.84

Average gas prices September 15 2008

Since the economy never fully or even significantly rebounded from that time the price should have stayed low based upon that reasoning. It didn't. It went up for the same reason it dropped; supply side plans and restrictions.
Obama has kept the price high and hurt our economy as a result.

Name the action Obama took that has kept oil prices high.

Blocking Keystone XL for purely political reasons.
Chasing away over 50 Gulf Oil rigs which NEVER came back.
His general animosity to the fossil fuel industry.
Those so called oil land leases he released....Not productive enough to make it worth while for investors to touch them.
If you're going to insist Obama is a friend to the oil and gas business you're either a liar or a fool.
We already know you're an Obama suck up sycophant.
We also know you will vote for every lefty moon bat progressive liberal on your polling place's ballot.
Any more drive by comments?

Environmental reasons.

Or are you going to next argue that Nebraska is a Liberal state?

BP fucks up the Gulf, and you want to give them carte blanche to do so again?

Of course you do - you're a Republican.