Skip to comments.President Says High Gas Prices Are Sign of Prosperity
Posted on 10/20/2012 1:05:51 PM PDT by navysealdad
In a desperate effort to try to persuade voters that the economy is starting to recover, President Obama touted high gas prices as proof that things are better than most people think they are.
Rising demand is what pushes prices up, Obama explained. The fact that gasoline prices have more than doubled since I took office shows that people must be driving more. Since studies show that driving to work accounts for the bulk of most folks' travel I think it's safe to say that
(Excerpt) Read more at angelfire.com ...
More satire from John; had my BP going once again.
Haha, but it’s not satire - he said this during the town hall debate.
Sadly, there’s so much economic ignorance out there that this gem from Ødious will resonate with far too many airheads.
Mr President, please make gas $10 per gallon so our economy will soar.
And the creation of money out of thin air is one of the causes of higher demand. mv=d, or in other words, money supply times velocity equals demand.And the increase in money supply leads to increase in demand.
Wonder what fuel costs in Greece when translated into US dollars.
Would be an interesting comparison.
OMG; really? I watched but missed that comment. OMG, OMG, OMG...
Price in Greece is 1.769 Euro’s a liter, the average in the rest of the EU is 1.5 somthing.
3.785 liters per gallon,
.7679 Euro per Dollar
3.785L X 1.769Eu =6.696 Euros x .7679 = 5.14 cents a gallon.
The rest of europe is at around $4.50 a gallon.
So Obama kept a campain promise, to make the price of gasoline in America the same as Europe.
And that IS a Change.
And this from our “green” president who goes around in a bullet and bomb proof limo that gets 3 mpg and Air Force One that costs $180,000 per hour to run? All of this with OPM [other people’s money’.] Sounds like the perfect role model. Right!
So Greece, with a collapsing economy, it chugging right along at superspeed according to Obama’s maxim of higher fuel price equaling a better economy.
Rising demand? How about insufficient supply and instability in the middle east? He shut down the gulf for a few years and helped overthrow leaders in Eqypt and Libya and refuse to support increased drilling. Obama has directly caused high oil prices and it was by design.
What a chump.
Mr. Obama, go visit the truck stops across the country and tell our truckers how “PROSPEROUS” they are! My son has gotten home TWICE this year - on the road just to survive. When the truckers call it quits, the shelves will be empty!
JOBS! JOBS! JOBS! Let’s keeep the ones we already have. These liberals want jobs, but hate the job makers! Can’t have it both ways.
I can’t even call him president anymore.
This may be intended as satire, but I am not so sure that Obama doesn’t believe it! It sounds like typical lib logic to me!LOL
I despite/hate the subhuman marxist/muslim/liar/racist/traitor/POS-in-chief. I can't even stand to hear that arrogant, hate-America voice.
The demand isn’t up. It is scarcity of product driving up prices in CA. Stupid regulations and refinery failures.
US use of gasoline is down about 6% from the peak year of 2007. It’s dropped from about 3.389 billion barrels in 2007 to 3.290 billion barrels in 2008 to 3.283 billion barrels in 2009 up to 3.297 billion barrels in 2010 and
back down to 3.190 billion barrels in 2011. So since it’s obvious that the amount of gasoline use has not only not
increased since Obummer took office but decreased we need to find another reason for the price more than doubling.
Could that reason be QE1, QE2 and QEinfinity.....adding $4 trillion new dollars to the mix will make all the existing dollars worth less. I’d say that most of the reason gas costs more is due to inflationary policy’s of the Fed and this administration.
Here is an exerpt:
It's true that when Obama took office, gas cost about $1.81 a gallon, and it's more than double now. And how did gas prices get so low in late 2008 and early 2009? Because there was a global economic catastrophe -- gas was cheap because the economy had fallen off a cliff. As the economy improved, demand went up, and the price of gas started climbing. It's Economics 101.
As Matt Yglesias explained a while back, "It turns out that driving to work, ferrying stuff from the warehouse to the store, hauling containers across the Pacific Ocean, and flying around to meetings all takes oil. If you manage to orchestrate a situation in which millions of people lose their jobs, retail sales plummet, stores close, and economic activity generally grinds to a halt, this frees up a lot of extra oil."
Demand went down, supply went up, so gas prices went down. Then the economy improved, demand went up, supply went down, so gas prices went up. It doesn't mean we're watching a flawed energy policy fail; it means there's a global market that's affected by recessions and recoveries.
John, I thought this was your work, but knew you could do more to this BS.
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