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

[KissMy]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

Your Dear Leader Bush signed EO-12777 in 1991 banning most of our offshore drilling for 20 years.

It wasn't until after Obama was elected that boundary setback regulations from previous administrations were lifted so fracking would flourish.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

As you can see, you are wrong in both cases.

Tuesday, July 15, 2008

President Bush yesterday lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gas prices.

Lifting the presidential moratorium has no immediate effect on exploration because Congress has enacted its own prohibitions on offshore drilling every year since the 1980s as part of the Interior Department's appropriations bill, and congressional Democrats yesterday vowed to do so again.
Bush Rescinds Father s Offshore Oil Ban

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

Horizontal fracking new wells into tight oil shale was not profitable until boundary setbacks were removed under Obama's administration. That is why US oil production declined thought the entire Bush administration. Eco-Pad drilling exploded under Obama only because boundary setbacks were removed, reducing Bakken oil break even production price as low as $58/barrel. Then Obama "Fast Tracked" the lower Keystone Pipeline to efficiently get US land locked oil to market.

One more time.

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

Eco-Pad horizontal hydraulic fracturing was made most profitable only after boundary setbacks were removed under Obama. US oil production declined during Bush's entire term in office, because the 2005 Safe Drinking Water Act exemption that was later subject to repeal in 2010 had almost no effect on profitability. This is why US oil production only exploded after the 2009 removal of boundary setbacks under Obama. Eco-Pad drilling made more profitable by the 2009 removal of boundary setbacks, is much safer for drinking water & the environment.

 

[Pogo]

It's a combination of increased domestic extraction -- in spite of obama and the green fascists -- and the fact that the Saudis have lowered their price in addition to pumping as much into the supply as possible. Their reasoning having something to do with weakening Iran.
All in all, it's a supply and demand issue, the very thing that Obama has used against our own economy since he was inaugurated.
Impeach and exile obama.

Number one, gas prices aren't set by 'supply and demand' like widgets. They're set by speculation on the international market.
Number two, neither the Saudis nor O'bama nor anybody else "lowers their price" (see above). What OPEC (not "the Saudis" but OPEC) might do is raise or lower production to try to steer that market, although it's like guiding a barge in a strong current.
Number three, OPEC (again, not "the Saudis" but OPEC) isn't "pumping as much into the supply as possible"; on the contrary they've been expected to cut production, though that hasn't happened during this slide, but speculation on that IS what drives gas prices.

Impeach and exile your post. Oh wait -- I just did.

 

[Pogo]

Not to mention ISIS selling on the black market millions of barrels of oil, heavily discounted, since they've captured large sectors of Iraq's oil fields!

You are stupider than a bag of hammers. No shit.

 

[Roudy]

Because winter is coming and demand is less dummy.

Link?

 

[Pogo]

"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

Funny, gas has went up twenty cents a gallon in the last week where I live. Although the news has reported it going down, it has done the opposite.

Take your time machine in for a tune-up, because that's pretty much impossible. It's been plummeting everywhere. Some places it's under $2.50.

 

[Pogo]

Because winter is coming and demand is less dummy.

Link?

Here ya go.

 

[chikenwing]

It's a combination of increased domestic extraction -- in spite of obama and the green fascists -- and the fact that the Saudis have lowered their price in addition to pumping as much into the supply as possible. Their reasoning having something to do with weakening Iran.
All in all, it's a supply and demand issue, the very thing that Obama has used against our own economy since he was inaugurated.
Impeach and exile obama.

Number one, gas prices aren't set by 'supply and demand' like widgets. They're set by speculation on the international market.
Number two, neither the Saudis nor O'bama nor anybody else "lowers their price" (see above). What OPEC (not "the Saudis" but OPEC) might do is raise or lower production to try to steer that market, although it's like guiding a barge in a strong current.
Number three, OPEC (again, not "the Saudis" but OPEC) isn't "pumping as much into the supply as possible"; on the contrary they've been expected to cut production, though that hasn't happened during this slide, but speculation on that IS what drives gas prices.

Impeach and exile your post. Oh wait -- I just did.

Which is still driven by supply and demand,even after your attemt at spin.

Speculators speculate;ate based on supply/demand,it that simple.
The major cause of declining oil prices,is the world demand is down,

 

[Pogo]

It takes not just any idiot but a special type of idiot to think Obama helped these prices go down.

Correct. Gas prices, up or down, are neither because of nor in spite of a POTUS.

So how come you started this thread?

Oopsie.

 

[Roudy]

Because winter is coming and demand is less dummy.

Link?

Here ya go.

Wow, a link telling me what winter is. Energy usage and costs usually go up during winter due to heating costs.

National Grid projects a 37 percent increase for winter electricity rates - Business - The Boston Globe

 

[Vigilante]

Not to mention ISIS selling on the black market millions of barrels of oil, heavily discounted, since they've captured large sectors of Iraq's oil fields!

You are stupider than a bag of hammers. No shit.

Well, That makes me 3X smarter than you, OCD Boy! ...What the fuck do you think is done with that oil?

"A visiting fellow at the Brookings Doha Centre, Luay Al Khatteeb, said that Isis is reportedly smuggling around 30,000 barrels of oil per day, in comparison to Saudi Arabia's 9 million barrel production per day.
Khatteeb also noted that: "Though the quantity is small, it is alarming and significant. It is able to generate $2 million per day through the sale of oil and finance its operations......"

That was back in August, since then ISIS has EXPANDED it's oil operations! YOU seem to have gotten dumber as you get older, want to discuss the KKK and Democrats again?

ISIS Sells Stolen Crude Oil Raising Over 1 Million Per Day

 

[Pogo]

Because winter is coming and demand is less dummy.

Oh yeah. People always demand less heating oil in the winter.

Actually people stock up on that in the summer. When demand is lower. The fuel companies encourage it.
That's what I did with my propane, although I have to wonder what I might have saved had I waited until now...

 

[Pogo]

Because winter is coming and demand is less dummy.

Link?

Here ya go.

Wow, a link telling me what winter is. Energy usage and costs usually go up during winter due to heating costs.

National Grid projects a 37 percent increase for winter electricity rates - Business - The Boston Globe

Summer is always a time of higher demand -- for gasoline. Which is what the thread's about. Not "heating". Nice try though.

I thought maybe you weren't aware of what season it is...

 

[Care4all]

Because winter is coming and demand is less dummy.

Oh yeah. People always demand less heating oil in the winter.

Actually people stock up on that in the summer. When demand is lower. The fuel companies encourage it.
That's what I did with my propane, although I have to wonder what I might have saved had I waited until now...

me too! wish I had not filled up my oil tank in summer, and had waited....

 

[Pogo]

Too many different factors contribute to gas prices to blame one cause.

A couple of reasons is demand is way down and refineries are switching back to cheaper Winter grades. It does seem a bit strange that this is happening right before an election.

How convenient.

Since elections always happen in early November --- how could it time any other way?

 

[Pogo]

Because winter is coming and demand is less dummy.

Oh yeah. People always demand less heating oil in the winter.

Actually people stock up on that in the summer. When demand is lower. The fuel companies encourage it.
That's what I did with my propane, although I have to wonder what I might have saved had I waited until now...

me too! wish I had not filled up my oil tank in summer, and had waited....

They gave me a real good price -- in August. Wonder if I should ring them up and inquire what it would have been today.

 

[Uncensored2008]

Is Obama abusing the First Pooch?

The idea that someone would name their dog on their own initials is something out of a bad, teenage comedy....

 

[Uncensored2008]

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

Even though they did everything in their power to block the things that created low gas prices, right Saul?

 

[KissMy]

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

Even though they did everything in their power to block the things that created low gas prices, right Saul?

That's a damn lie!

 

[koshergrl]

It's a combination of increased domestic extraction -- in spite of obama and the green fascists -- and the fact that the Saudis have lowered their price in addition to pumping as much into the supply as possible. Their reasoning having something to do with weakening Iran.
All in all, it's a supply and demand issue, the very thing that Obama has used against our own economy since he was inaugurated.
Impeach and exile obama.

Number one, gas prices aren't set by 'supply and demand' like widgets. They're set by speculation on the international market.
Number two, neither the Saudis nor O'bama nor anybody else "lowers their price" (see above). What OPEC (not "the Saudis" but OPEC) might do is raise or lower production to try to steer that market, although it's like guiding a barge in a strong current.
Number three, OPEC (again, not "the Saudis" but OPEC) isn't "pumping as much into the supply as possible"; on the contrary they've been expected to cut production, though that hasn't happened during this slide, but speculation on that IS what drives gas prices.

Impeach and exile your post. Oh wait -- I just did.

Which is still driven by supply and demand,even after your attemt at spin.

Speculators speculate;ate based on supply/demand,it that simple.
The major cause of declining oil prices,is the world demand is down,

I'm sure the fact that we've increased our oil output by 50 percent has nothing to do with anything.

Mmm hm.

 

[Uncensored2008]

That's a damn lie!

So Obama and the democrats have supported Fracking?

Care to amend your answer?

You are as absurd as some 16th century Bishop claiming the Pope deserved credit for the work Galileo. You seek credit for that which you failed to stop, despite your best efforts.

Normally, you leftists just lie your way out of things, but I don't think anyone will buy that you AGW cultist fucks "were for fracking all along."