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That was Nixon. Carter started dismantling the controls for oil.
You failed again.
Obama wants to destroy America
That was Nixon. Carter started dismantling the controls for oil.
You failed again.
GAS PRICES FACT: Republican Politicians Oppose Ending Taxpayer Handouts To Big Oil |
Every Republican presidential contender and nearly every Republican member of the House and Senate has signed a pledge to oppose ending taxpayer handouts to Big Oil — handouts that will add up to more than $40 billion over the next ten years. In addition, Republicans have repeatedly voted in lockstep to block efforts to repeal the tax giveaways to Big Oil. President Obama, however, remains undaunted and has once again included repeal of these wasteful giveaways in his budget for 2013.
http://thinkprogress.org/green/2012/...ts-to-big-oil/
Totally relevant.
piss off, ankle biter
http://en.wikipedia.org/wiki/Presidency_of_Jimmy_Carter
In 1977, Carter convinced the Democratic Congress to create the United States Department of Energy (DoE) with the goal of conserving energy. Carter set oil and natural gas price controls, had solar hot water panels installed on the roof of the White House, had a wood stove in his living quarters, ordered the General Services Administration to turn off hot water in some federal facilities, and requested that all Christmas light decorations remain dark in 1979 and 1980. Nationwide, controls were put on thermostats in government and commercial buildings to prevent people from raising temperatures in the winter (above 65 degrees Fahrenheit = 18.33 °C) or lowering them in the summer (below 78 degrees Fahrenheit = 25.55 °C).
lol you failed to read your own article.
In 1973, during the Nixon Administration, the Organization of Petroleum Exporting Countries (OPEC) reduced supplies of oil available to the world market, in part because of deflation of the dollars they were receiving as a result of Nixon leaving the gold standard and in part as a reaction to America's sending of arms to Israel during the Yom Kippur War. This sparked the 1973 Oil Crisis and forced oil prices to rise sharply, spurring price inflation throughout the economy and slowing growth. The U.S government imposed price controls on gasoline and oil following the announcement, which had the effect of causing shortages and long lines at filling stations for gasoline....
....One related measure approved by Congress during the presidency of Gerald Ford, the Energy Policy and Conservation Act of 1975, gave Presidents the authority to deregulate prices of domestic oil, and Carter exercised this option on July 1, 1979, as a means of encouraging both oil production and conservation. Oil imports, which had reached a record 2.4 billion barrels in 1977 (50% of supply), declined by half from 1979 to 1983.
He set them because they were annually reviewed by the executive branch starting with Nixon.
As noted, he also abolished them.
Last edited by RandomGuy; 02-23-2012 at 12:55 PM. Reason: not letting frustration get the better of me.
Remembered the price controls from when you were eight but forgot all about the Carter deregulation when you were ten. Looks like your memory has been getting worse for quite some time.
So, this previous point has been addressed.
Instead of "price controls", how about "reasonable profits"?
http://thehill.com/blogs/floor-actio...ompany-profits
Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what cons utes a reasonable profit.
The Gas Price e Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding "a reasonable profit." It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress.
The bill would also seem to exclude industry representatives from the board, as it says members "shall have no financial interests in any of the businesses for which reasonable profits are determined by the Board."
According to the bill, a windfall tax of 50 percent would be applied when the sale of oil or gas leads to a profit of between 100 percent and 102 percent of a reasonable profit. The windfall tax would jump to 75 percent when the profit is between 102 and 105 percent of a reasonable profit, and above that, the windfall tax would be 100 percent. The bill also specifies that the oil-and-gas companies, as the seller, would have to pay this tax.
Kucinich said these tax revenues would be used to fund alternative transportation programs when oil-and-gas prices e.
"Gas prices continue to rise, creating a hardship for the American people," he said. "At the same time, oil companies are making record profits gouging their customers. This bill would tax only the excess profits and create forward-thinking transportation alternatives."
Specifically, he said the money would be used to fund a tax credit on the purchase of fuel-efficient cars and set up a grant program for mass transit programs when oil-and-gas prices are high.
The bill does not estimate the size of these grants or the amount of money that might be collected through the tax.
Co-sponsoring the bill are five other Democrats: Reps. John Conyers Jr. (Mich.), Bob Filner (Calif.), Marcia Fudge (Ohio), Jim Langevin (R.I.), and Lynn Woolsey (Calif.).
Remember the "WIN" buttons?
Originally Posted by 1971 timeline, world oil markets
August 15: U.S. Government ins utes Phase I price controls. Invoking the powers granted to the president by the Economic Stabilization Act of 1970, President Richard Nixon orders 90-day nationwide freeze on all wages, prices, salaries and rents.
September 22: OPEC directs members to negotiate price increases to offset the devaluation of the U.S. dollar.
November: U.S. Phase II price controls begin. Plan is to allow for gradual 2-3 percent annual price increases, however, domestic petroleum prices remain at Phase I levels.
http://en.wikipedia.org/wiki/1970-19...ket_chronology
Perry: Gingrich Can Lower Oil Prices Just By Talking About It
if the perception is Newt Gingrich could be the next president of the United States, that will have a worldwide affect, I will suggest to you, on the price of oil. And people who watch these markets and people who deal with these markets understand, that when you see the type of approach that he’s talking about — opening up federal lands and waters, opening up that pipeline from Canada, clearly giving incentives to drill in America for domestic energy, and then an all of the above policy, whether it’s wind or nuclear or whatever it might be — that will have a dampening affect on the cost of oil in particular and the other energy prices as well.
http://thinkprogress.org/green/2012/...ic-gas-prices/
Stoopid is BAAAACK!!
happens with striking regularity
Once Again, Speculators Behind Sharply Rising Oil and Gasoline Prices
the price of oil and gasoline has leaped far beyond conventional supply and demand variables. Financial speculators are piling into the market, torquing the Iranian fear factor into ever-higher prices.
"Speculation is now part of the DNA of oil prices. You cannot separate the two anymore. There is no demarcation," said Fadel Gheit, a 30-year veteran of energy markets and an analyst at Oppenheimer & Co. "I still remain convinced oil prices are inflated."
Consider that light, sweet crude trading on the NYMEX changed hands at $79.20 a barrel just four months ago, but soared past $106 a barrel Tuesday afternoon, partly on news that Iran would halt shipment of oil to Britain and France. But those countries already had stopped buying Iranian oil. And Didier Houssin, the International Energy Agency's director for energy markets and security, said that "there are alternative supplies that can make up for any loss of Iranian exports," The Wall Street Journal reported.
Still, oil's price shot up because it trades in financial markets, where Wall Street firms and other big financial players dominate the trading of oil, even though they have no intention of ever taking possession of the oil whose contracts they are trading.
Since oil prices are the biggest component in the price of gasoline, pump prices are soaring. AAA said Tuesday that the nationwide average price for a gallon of gasoline stood at $3.57, compared with $3.38 a month ago and $3.17 a year ago. It takes about $6 more to fill up the tank than it did this time last year — and last year's gasoline-price surge helped take the steam out of the economic recovery.
Defining what percentage of today's high oil and gasoline prices is due to excessive speculation, driven by Iran fears, is something of a guessing game.
"I put the Iran security premium at about $8 to $10 (a barrel) at this point, which still puts crude at about $90 or $95," said John Kilduff, a veteran energy analyst at AgainCapital in New York.
The fear premium is the froth above what prices would be absent fears of a supply disruption_ somewhere in the $80 to $85 range for a barrel of crude oil. It means that even with the extra cost put on oil from Iran fears, prices are at least another $10 higher than what demand fundamentals would dictate.
Why? Financial speculators.
What should the price of oil be if left to conventional supply and demand market fundamentals? Canada's the largest supplier of imported oil to the United States, which now actually produces more than half of the oil it consumes. Production and delivery costs for a barrel of oil from Canada are about $75 a barrel. The market-fundamentals cost for a barrel of oil is in that ballpark; above that, speculation sets the prices.
"It's as simple as that,"
http://www.truth-out.org/print/12828
Lol
Translation:
"I can't even man up and admit I was talking, yet again, out of my ass."
Go sit in the corner with Cosmored.
ummmfff...
LOL...ummmfff...
What happened to it being Bush's fault?
dubya actually made gas cheaper by invading Iraq (which paid for itself with the oil) and causing democracy to bloom in the Middle East
If you want to believe that....
Gas e Takes $5 Billion From The 99 Percent And Gives It To Big Oil
Since the beginning of the year, the price for gasoline increased 29 cents per gallon. If that average increase holds true through the end of March, it will translate to $5.8 billion in additional profits for the big five.
http://thinkprogress.org/green/2012/...it-to-big-oil/
====
The oilcos, certainly playing heavily in the oil speculation game, will push up the price of oil, restrict gasoline refining and export refined oil, to keep the $100Bs pouring in. They're dreaming about declining oil production and skyrocketing oil/gasoline prices.
More Drilling Won’t Lower Gas Prices
It hasn’t worked yet. There are currently more oil rigs operating on U.S. lands and waters than in the rest of the world combined, production is at an eight-year high, and the most recent “Short-Term Energy Outlook” from the Energy Information Administration projects production to continue growing at least through 2013 based on current activity. By the end of President Obama’s recently issued five-year drilling plan, fully 75 percent of our undiscovered, technically recoverable offshore reserves will be open to drilling. All that additional activity hasn’t stemmed the recent gas price e.
If oil companies wanted to increase production, they could. In March 2011 the Department of the Interior released a report revealing two-thirds of oil-and-gas companies’ offshore leases and more than half of their onshore leases are not being produced.
http://thinkprogress.org/romm/2012/0...er-gas-prices/
dropped boutons and DarrinS in one fell swoop.
thanks, Obama!
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