High Gas Prices: Obama's Half-Truths vs. Reality

[TeyshaBlue]

Current and legacy energy policies have a piece of the price drop. Prices are relatively predictable until external stimuli are applied..ie wars, disasters or market manipulation ala current price dumping by the Saudis to counter rising US market share.
The rise in US oil production has the Saudis dancing right now.

[boutons_deux]

The one thing I MIGHT credit St Ronnie with, and it was his people, not his diseased self, was contributing to the collapse of Russia via a hard (dollar) liquidity shortage, with OPEC's necessary, decisive lead, of letting the price of oil drop, OIL AS WEAPON, robbing Russia of $100Bs of hard currency (ruble was not tradeable) they needed to keep screwing themselves in Afghanistan.

Oil as weapon now also hurts Russian protege-Syria and ISIS, as well as hurting US antagonists Russia and Iran.

meanwhile:

Big Oil’s Not-So-Scary Halloween: Industry Leaders Treated to Another Quarter of High Profits

http://www.americanprogress.org/issues/green/news/2014/10/31/100064/big-oils-not-so-scary-halloween-industry-leaders-treated-to-another-quarter-of-high-profits/

[FuzzyLumpkins]

haven't seen spursncowboys in a long time. Hope he didn't have to go back downrange again.

[TeyshaBlue]

Yeah....been wondering about him too.

[Blake]

I never pay credit. And if I 'have' to I will go to the cash machine.

banks and charging vendors 3% and the like. Leeches.

I don't either but I use my check card which charges the same fee to the vendor as a credit card. I'd rather do that than pay a cash machine fee.

[spursncowboys]

FuzzyLumpkins TeyshaBlue Hey guys. I appreciate the concern. I got out of the Army this year and moved me and my little ones back to God's country. Hope everyone is doing ok. Have I missed anything? Did DOK hang himself attempting erotic asphyxiation?

[ElNono]

good to have you back

[spursncowboys]

good to have you back

How have you been?

[ElNono]

How have you been?

Looking at the world around us, can't complain too much, tbh...

[Spurminator]

Welcome back snc

[TeyshaBlue]

Hey...SNC! Good to see ya.

[spursncowboys]

Hi Spurminator and TB. Hope life has been going good.

[Winehole23]

there he is! welcome back, snc.

[RandomGuy]

Hi Spurminator and TB. Hope life has been going good.

Welcome back. Good to see you made out ok.

[spursncowboys]

WH RG: Good to see you guys are still here.

[boutons_deux]

Saudi Arabia and UAE blame oil rout on countries outside Opec

Saudi Arabia and the United Arab Emirates on Sunday blamed the oil price rout on producers outside Opec and reaffirmed their stance to keep output at current levels.

Ali al-Naimi, Saudi Arabia’s oil minister, said he was “100 per cent not pleased” with the near 50 per cent slide in crude oil prices since the middle of June, but said it was a lack of non-Opec co-operation that was a key contributor to the sharp decline.

“The kingdom of Saudi Arabia and other countries sought to bring back balance to the market, but the lack of co-operation from other producers outside Opec and the spread of misleading information and speculation led to the continuation of the drop in prices,” he said at an energy conference in Abu Dhabi, according to Reuters. “Let the most efficient producers produce.”

http://www.ft.com/intl/cms/s/0/39472...#axzz3MZ0PvBrn

[Winehole23]

friend of mine recently said and I agree:

In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $5.45 per gallon by the start 2015. Lee said that gas prices would rise 5 cents for every month Obama was in office, ultimately reaching $6.60 per gallon.


Lee was not alone. Newt Gingrich, running for the GOP nomination, predicted that if Obama was reelected he would push gas to “$10 a gallon.” Gingrich said he would reduce gas prices dramatically by reversing Obama’s energy policies. Gingrich flanked himself with campaign signs promising $2.50 gas if he was elected.



FYI


A lot of the reasons for the decline in gas prices are well beyond the PotUS control — including weak international demand and OPEC’s failure to reduce supply. But the policies that Lee, Gingrich and others criticized — the failure to approve the Keystone XL pipeline, more EPA regulation and limiting drilling on public land — have not gotten in the way of low gasoline prices.

[boutons_deux]

friend of mine recently said and I agree:

Repugs got nothing but LIES, PROPAGANDA, and FUD. They are NEVER right, and ALWAYS LYING and FUDding their base, which WANTS to be lied to.

"drill here drill now", which has happened/is happening, didn't crater the price of gas/diesel which are tied to the world price, which was cratered by Saudis attacking USA for glutting the market.

My last gas at Costco was $1.799 ( then another "fidelity" -5% annually for a black costco card subscription)

[TeyshaBlue]

Do you even read your rants?
Drill here drill now absolutely factored in the Saudi response.
Holy .

[boutons_deux]

Do you even read your rants?
Drill here drill now absolutely factored in the Saudi response.
Holy .

dhdn didn't lower the gas price BEFORE the Saudis attacked.

[scott]

Saudi Arabia and UAE blame oil rout on countries outside Opec

Saudi Arabia and the United Arab Emirates on Sunday blamed the oil price rout on producers outside Opec and reaffirmed their stance to keep output at current levels.

Ali al-Naimi, Saudi Arabia’s oil minister, said he was “100 per cent not pleased” with the near 50 per cent slide in crude oil prices since the middle of June, but said it was a lack of non-Opec co-operation that was a key contributor to the sharp decline.

“The kingdom of Saudi Arabia and other countries sought to bring back balance to the market, but the lack of co-operation from other producers outside Opec and the spread of misleading information and speculation led to the continuation of the drop in prices,” he said at an energy conference in Abu Dhabi, according to Reuters. “Let the most efficient producers produce.”

http://www.ft.com/intl/cms/s/0/39472...#axzz3MZ0PvBrn

LOL, Saudi oil minister with a sweet OPEC recruiting pitch. "It's the fault of all those guys not in our cartel who aren't listening to us!"

[TeyshaBlue]

dhdn didn't lower the gas price BEFORE the Saudis attacked.

goalpost move.

Go see what your masters tell you to say about the Saudis reacting to losing market share to increased US production.

boutons

[Agloco]

How have you been?

Glad to see that you are well!

[RandomGuy]

Repugs got nothing but LIES, PROPAGANDA, and FUD. They are NEVER right, and ALWAYS LYING and FUDding their base, which WANTS to be lied to.

"drill here drill now", which has happened/is happening, didn't crater the price of gas/diesel which are tied to the world price, which was cratered by Saudis attacking USA for glutting the market.

My last gas at Costco was $1.799 ( then another "fidelity" -5% annually for a black costco card subscription)

(winces)

Not quite. The US becoming a net exporter really did tip the balance in the price point. The Saudis actions do have an affect, but both in conjunction have been causing the shifts.

[boutons_deux]

"The US becoming a net exporter really did tip the balance in the price point."

The US has been forbidden for 40+ years to export crude. BigOil cheats by slightly refining to "de-crude" for export. Likewise, not enough US LNG export terminals to affect the world price.

I expect the Repugs will vote to permit and accelerate export of crude and LNG, stuff we're going to miss when it starts to run out, but BigOil will by then have its profits.