An Obama supporter who knows incredibly rich speculators dealing on the Commidity Board are jacking up oil prices. Since we are a capitalist society, Obama cannot do much about that.
It’s simple supply and demand. Our government is not allowing us to help meet the increasing global demand for oil that is driving up the price. We could be selling more oil, reducing both the price of oil and the trade deficit, but our government won’t allow it.
@David McQ: Obama has increased domestic drilling on federal lands compared to the previous administration. Our overall domestic demand for oil has decreased. Gasoline is now being exported from our country. And you seriously think the President wants to raise gas prices during an election year? Your comment goes along with the question the Faux Gnus reporter asked the President yesterday and may indicate a serious lack of thought and reality on your part. You should probably have it checked out because it could lead to serious problems.
All the oil that was going to come down the pipeline to the United States was going to ship overseas. The oil companies are raising prices to make Obama look bad so their brother 1%er Romney will win
There is an excess of supply. This excess is being exported The price of gasoline is high because it is now the largest export we do and those being exported to are willing to pay the higher price. Slap an export tax (to be paid by the purchaser) and the demand will drop. Problem with that is the reduction in balance of payments.We need to adopt the system Alaska has on a national scale.
YOU bought the Hummer. Obama is responsible for avoiding further BP “events”. He’ll get blamed for another BP, and he’ll get blamed for prices. In short, he’ll get blamed for…just about anything. Too bad. If he loses, this nation will become Mississippi.
I don’t understand these people that says that we need to drill more. When most of that oil gets shipped overseas. And we still have to pay the oil companies the market rate for our oil.
Off shore drilling won’t produce oil for our country for 10 – 15 years. we DO NOT need to build a pipeline. What we need is to develop alternative sources of energy. Building a pipeline and off shore drilling are “enabling” us to maintain our addiction to oil, oil that will run out someday. If you want to shake our dependence upon foreign oil, develop alternative sources of energy. Sad to say, hon a and Mercedes already have hydrogen fuel cell vehicles in this country but problems have to be resolved before widespread use. Nobody in GM, Ford, Chrysler/Fiat is doing anything like that.
Electric cars are not the answer. the landfills are not capable of handling the hybrid batteries coming out in large numbers. Pure electric cars make it worse. A report a few years ago stated that if 1/3 the people driving cars switched to electric, the city would have brownouts at night!. the infrastructure is not there to support it.
We need alternative energy sources, not to drill for more oil.
70% of the people trading oil on the international markets are pure speculators who never intend to take ownership of their oil—-just take a slice of profit. Some estimate that they run the price of oil up by about 60cents.. Note that the actual cost of production, including profits is about $75 per barrel, so all the rest is gravy being creamed off by Wall Street speculators. http://www.youtube.com/watch?v=5CXLUMWJN78 or just google ‘oil speculators.’
Try looking at it from the outside folks. The US “High prices” are still at least $1.50/gal cheaper than the rest of the world. Stop buying gas guzzling SUV’s that never go off road and you stop complaining about the cost to drive.
DavidMac about 12 years ago
It’s Obama who doesn’t want to allow drilling. It’s Obama who wants higher gasoline prices. Yet, people still support Obama. Go figure.
Nebulous Premium Member about 12 years ago
A couple of years ago, BP tried to give away a bunch of oil to Americans, but everybody got upset about it.No idea why.
TexTech about 12 years ago
An Obama supporter who knows incredibly rich speculators dealing on the Commidity Board are jacking up oil prices. Since we are a capitalist society, Obama cannot do much about that.
midaswelby about 12 years ago
It’s simple supply and demand. Our government is not allowing us to help meet the increasing global demand for oil that is driving up the price. We could be selling more oil, reducing both the price of oil and the trade deficit, but our government won’t allow it.
William Bednar Premium Member about 12 years ago
As long as “we”, i.e. humans, depend on the internal combustion engine, there may never be a solution!
eepatt about 12 years ago
@David McQ: Obama has increased domestic drilling on federal lands compared to the previous administration. Our overall domestic demand for oil has decreased. Gasoline is now being exported from our country. And you seriously think the President wants to raise gas prices during an election year? Your comment goes along with the question the Faux Gnus reporter asked the President yesterday and may indicate a serious lack of thought and reality on your part. You should probably have it checked out because it could lead to serious problems.
garysr87 about 12 years ago
All the oil that was going to come down the pipeline to the United States was going to ship overseas. The oil companies are raising prices to make Obama look bad so their brother 1%er Romney will win
dahawk about 12 years ago
There is an excess of supply. This excess is being exported The price of gasoline is high because it is now the largest export we do and those being exported to are willing to pay the higher price. Slap an export tax (to be paid by the purchaser) and the demand will drop. Problem with that is the reduction in balance of payments.We need to adopt the system Alaska has on a national scale.
Call me Ishmael about 12 years ago
YOU bought the Hummer. Obama is responsible for avoiding further BP “events”. He’ll get blamed for another BP, and he’ll get blamed for prices. In short, he’ll get blamed for…just about anything. Too bad. If he loses, this nation will become Mississippi.
grenjello about 12 years ago
I don’t understand these people that says that we need to drill more. When most of that oil gets shipped overseas. And we still have to pay the oil companies the market rate for our oil.
Uncle Joe Premium Member about 12 years ago
None of the Drill Baby, Drill-heads seem to understand that mining the tar sands isn’t profitable if gas is selling for $2.50/gallon.
Sportymonk about 12 years ago
Off shore drilling won’t produce oil for our country for 10 – 15 years. we DO NOT need to build a pipeline. What we need is to develop alternative sources of energy. Building a pipeline and off shore drilling are “enabling” us to maintain our addiction to oil, oil that will run out someday. If you want to shake our dependence upon foreign oil, develop alternative sources of energy. Sad to say, hon a and Mercedes already have hydrogen fuel cell vehicles in this country but problems have to be resolved before widespread use. Nobody in GM, Ford, Chrysler/Fiat is doing anything like that.
Electric cars are not the answer. the landfills are not capable of handling the hybrid batteries coming out in large numbers. Pure electric cars make it worse. A report a few years ago stated that if 1/3 the people driving cars switched to electric, the city would have brownouts at night!. the infrastructure is not there to support it.
We need alternative energy sources, not to drill for more oil.
vhammon about 12 years ago
70% of the people trading oil on the international markets are pure speculators who never intend to take ownership of their oil—-just take a slice of profit. Some estimate that they run the price of oil up by about 60cents.. Note that the actual cost of production, including profits is about $75 per barrel, so all the rest is gravy being creamed off by Wall Street speculators. http://www.youtube.com/watch?v=5CXLUMWJN78 or just google ‘oil speculators.’
dt2499 Premium Member about 12 years ago
Try looking at it from the outside folks. The US “High prices” are still at least $1.50/gal cheaper than the rest of the world. Stop buying gas guzzling SUV’s that never go off road and you stop complaining about the cost to drive.