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$5 Gas Predicted Under Obama -- What, No Pitchforks?
Townhall.com ^ | December 30, 2010 | Larry Elders

Posted on 12/29/2010 10:30:35 PM PST by Kaslin

Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely. The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. In one month, the price rose 13 cents, up 35 cents year to year.

Where are the calls to sic Obama's Justice Department on Big Oil to hold the oil companies accountable for "market manipulation"? Why aren't we hunting down the amoral "oil speculators" responsible for repealing the law of supply-and-demand in order to line their pockets?

During President George W. Bush's administration, we constantly heard demands to hold the President accountable for "Big Oil's price gouging." House Speaker Nancy Pelosi, D-Calif., just two years ago, knew exactly whom to blame for "skyrocketing" oil prices: "The price of oil is at the doorstep; $4-plus per gallon for oil is attributed to two oilmen in the White House and their protectors in the United States Senate."

In 2007, when the average national price ranged from $2.17 to $3.22, then-Sen. Barack Obama demanded that the Federal Trade Commission investigate Big Oil for "price manipulation." In 2008, presidential candidate Obama urged the Justice Department "to open an investigation into whether energy traders have been engaged in illegal activities that have helped drive up the price of oil and food."

Obama also called for "a windfall profits penalty on oil selling at or over $80 per barrel." As of Christmas 2010, a barrel of oil sold at slightly above $90. What happened to the windfall profits tax?

Yes, back then the average price per gallon was four bucks. But blaming "oilman" Bush for high prices began when the average price was well below today's $3.05 national average.

The average price was $1.72 on March 5, 2003, when CBS News posted a story online with this headline: "Dems Blame Bush For High Oil Prices." It referred to an investigative report by Sen. Carl Levin, D-Mich. Levin blamed Bush's post-9/11 decision to increase the amount of oil in the Strategic Petroleum Reserve by 40 million barrels in 2002 -- bringing the total to 600 million. Levin said, "We're confident this had a significant impact on the price of oil in 2002." Never mind that the Bush administration called the amount of oil diverted too small to matter.

The average price was $2.80 on April 22, 2006, when USAToday.com posted an article with the headline "Democrats blame Bush for high gas prices": "Consumer gasoline prices continue to soar as the Bush administration places too much emphasis on drilling reserves and not enough on alternative fuels, Democrats said." The article quoted Sen. Bill Nelson, D-Fla., who praised Brazil's "energy independence." "In Brazil," Nelson said, "drivers are filling up their cars with ethanol instead of gasoline."

Not exactly, Sen. Nelson.

Brazil may be "energy independent" in that it imports only a small percentage -- 649,000 barrels per day in 2009 -- of the oil it consumes. But that makes Brazil the 19th-highest oil-importing country in the world. Its economy relies heavily on oil that is domestically produced and consumed. Brazil is the seventh-largest consumer of oil in the world and the ninth-largest producer. Its famous -- and heavily government-subsidized -- sugar cane-based ethanol fuel is actually a blend that uses approximately 75 percent gasoline.

As for U.S. ethanol, which is made from corn, Nobel laureate environmentalist Al Gore recently called it a bad deal: "It is not a good policy to have these massive subsidies for first-generation ethanol. First-generation ethanol, I think, was a mistake. The energy conversion ratios are at best very small. ... The size, the percentage of corn particularly, which is now being (used for) first-generation ethanol definitely has an impact on food prices. The competition with food prices is real." Why did he once support ethanol? He admitted that he'd wanted to help farmers in Iowa, site of the nation's first caucus, since he "was about to run for president."

The silence over the recent price run-up is yet the latest example of left-wing hypocrisy. It was always about bludgeoning Bush rather than a sincere conviction that Big Oil was cheating. How else to explain the absence of demands for investigations?

America could achieve "energy independence" if producers were allowed to drill in Alaska, the lower 48 and offshore, where substantial amounts of untapped oil remain off-limits. Obama, who currently squanders hundreds of billions of taxpayer dollars by "investing" in alternative energy, possesses no more control over the law of supply-and-demand than did "evil" Oilman Bush.


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: bush; gasprices; hypocrites; oil
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To: 1_Rain_Drop
"There has to be an untraditional way we can get them where it hurts."

Avoid buying anything that you don't really need. Become more self-sufficient each month. Learn set up to manufacture something of necessity (mechanical part, electrical part, piece of wool clothing,...). Grow some food. Such actions will contribute well to killing the beast, while it's wounded.


41 posted on 12/30/2010 1:18:03 AM PST by familyop (cbt. engr. (cbt), NG, '89-' 96, Duncan Hunter or no-vote.)
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To: 1_Rain_Drop

BTW, pitchforks are too advanced for me. I’ll be shocking hay by hand in the field (high altitude alpine place). ;-)


42 posted on 12/30/2010 1:21:06 AM PST by familyop (cbt. engr. (cbt), NG, '89-' 96, Duncan Hunter or no-vote.)
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To: Kaslin

Obama wants $6/gallon gas. He has said as much. I don’t feel like searching for the YouTube video.


43 posted on 12/30/2010 2:13:18 AM PST by Freedom_Is_Not_Free (We be Fooked.)
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To: pieceofthepuzzle

This rise in prices for energy will hit the poor hardest. The people who thought Obama was on their side—better think again. Sarah Palin has her issue now—Drill, Drill, Drill, Mine, Mine, Mine, Dig, Dig, Dig. US oil for USA Cars! Lets not forget Nukes too! Dump the windmill foolishness, and turning corn into gas. We better start thinking USA first and not the UN and some fat, stupid, “scientists” and their global warming scare tactics —Kick the whole lot of them out of their Ivory Towers and let them get real jobs for a change.


44 posted on 12/30/2010 2:14:36 AM PST by Forward the Light Brigade (Into the Jaws of H*ll)
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To: The Cajun

Locking up land. Democrats.
Anti drill. Democrats.
Anti refine. Democrats.
Anti gas. Democrats.
Anti mine. Democrats.
Anti nuke. Democrats.
Anti wood burn. Democrats.
Pro gas tax. Democrats.
Anti car/truck. Democrats.

Conclusion?

Bush’s fault. Right wing, pick up driving, gun owning, bible reading bitter clingers.


45 posted on 12/30/2010 2:40:41 AM PST by Leisler (They always lie, and have for so much and for so long, that they no longer know what about.)
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To: Kaslin

The “price” of oil is rising mostly because all the “QE” from the Fed is reducing the value of the dollar. The Dem’s ain’t about to bitch about that.


46 posted on 12/30/2010 3:18:00 AM PST by PogySailor (The ruling class will not go down easily. And neither will their paid hacks.)
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To: Kaslin

I think there is no pitchforks at this time because it is PREDICTED. When and IF it becomes reality, people will speak out against it.


47 posted on 12/30/2010 3:18:25 AM PST by napscoordinator
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To: Kaslin

I predict free gas cards for the parasite class.


48 posted on 12/30/2010 3:24:28 AM PST by Fresh Wind
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To: Kaslin
It's Bushs' fault.
Hey it's worked before, ZERO will continue blaming Bush until he reaches room temperature.
49 posted on 12/30/2010 4:24:39 AM PST by DeaconRed (I could waltz across Texas with You. . . . . . . . .)
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To: taxtruth

That is what bama wants. Destroy the nation.


50 posted on 12/30/2010 4:32:35 AM PST by GlockThe Vote (Who needs Al Queda to worry about when we have Obama?)
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To: gleeaikin

OPEC had NOTHING to do with the fuel shortages during the Carter fiasco. It was caused by Carter imposing a windfall profits tax on imported and domestic oil. The Oil companies could no longer produce oil at a profit, so they shut down production to keep from going bankrupt. (And several companies did anyway.)


51 posted on 12/30/2010 4:41:20 AM PST by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: Kaslin; P-Marlowe

The price of oil is what initially killed the economy under President Bush. Now that a more conservative Congress is in place to hopefully restore the American economy, there is a specualator’s resurgence to raise the price of oil again.

It will kill economic growth.

It is as if some group with the ability to affect oil prices does not want America economically strong.

After all, that has always been America’s second greatest strength. And our greatest strength has long been under attack: Our Faith in God.


52 posted on 12/30/2010 4:48:56 AM PST by xzins (Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
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To: xzins

Agree totally.


53 posted on 12/30/2010 4:57:16 AM PST by John W (Natural-born US citizen since 1955)
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To: xzins
I respectfully disagree with your claim that oil prices are what started the economic problems under Bush.

The problem was caused by Derivatives and sub-prime mortgages under the financial sector. The Banks started to drop like leaves in November. Small business lost their support and started laying off people in droves. Then, the housing market crashed shortly there after and Real Estate values tanked. People who had bought homes at radically inflated prices, suddenly found themselves hopelessly in the red and paying massive payments with their earnings cut in half.

The increase in fuel prices only raised the cost of commuting by under 5% in regards to most family budgets. Of course, the media likes to blame “Oil Man” Bush by wrongly claiming that it was high fuel prices to blame.

You seem to have bought that lie with interest yourself.

54 posted on 12/30/2010 5:04:50 AM PST by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: PSYCHO-FREEP

I appreciate the respectful disagreement. My contention is not one that would be studied by those who study such things. My evidence is anecdotal.

Families that were on the line and small businesses that were on the line were very hard hit by the high costs. Such families and businesses have very small margins and virtually no savings. In addition to the price at the pump claiming its extra hundreds per month, there were surcharges placed on the delivery of the very types of things that families and small businesses buy.

It ignited the fire at their level that put them behind. They had no capacity to operate from behind, nor any to increase their income. Something had to be underpaid, and mortgages payments become one of those things.

Those on the margin pay their mortgage, their utilities, their transportation and their food. There are no luxuries there. Utilities are quick to pounce and transportation and food are pay as you go.

If you look at that list, there is only one that will allow just enough rope to get you behind.


55 posted on 12/30/2010 6:12:05 AM PST by xzins (Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
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To: sickoflibs

RE: What, No Pitchforks?

What can a dirty capitalist like myself do in a situation like this when one knows that this administration is DELIBERATELY setting things up to make conventional energy more expensive?

Why BUY ETF’s that are tied to these energy sources of course.

Here are the ETF’s that track the price of Crude (OIL) and US Oil (USO).


56 posted on 12/30/2010 6:14:21 AM PST by SeekAndFind
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To: PSYCHO-FREEP

Your part about my “buying the lie” doesn’t fit with your claim about “respectfully” disagreeing.

However, my comment was NOT about big oil. You can refer to my long history of posting to verify that.

I was referring to some group that was engaging in market manipulation via speculation to drive up prices.


57 posted on 12/30/2010 6:15:37 AM PST by xzins (Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
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To: Kaslin

Here’s the thing, we know the MSM lies, distorts, sins of omission, etc., but our side is STUPID. We go on the Sunday talk shows, we have cameras in our faces (not that often), and we don’t mention fuel prices...why are the Republicans so stupid. I’ve said it before, call Boehner’s office, email him that it is unacceptable to not make this the driver of the economy issue...chain reaction to inflation and thus not hiring anyone.

CALL BOEHNER’s OFFICE! Email him!


58 posted on 12/30/2010 6:29:08 AM PST by CincyRichieRich (Keep your head up and keep moving forward!)
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To: GreatJoeMcCarthy
This Progressive eurocentric Obama administration will then explain that America has long enjoyed the lowest gas prices on the planet at the expense of the rest of the world.....

Whereby true, red blooded Americans will say "So what?"

America is the breadbasket to the world. Without America hundreds of millions of people would be starving right now. The vast majority of life saving medicines, medical devices, and medical procedures are born from American ingenuity. Without America, hundreds of millions of people would be dying of curable diseases. America also has shed more blood to defend more innocent people than any nation in the history of the world. Without America, the whole of Europe and Asia would be living under a Facsist/Communist tyrannical dictatorship.

I think those things are worth the rest of the world chipping in so that brave, productive, innovative Americans can have cheap fuel so we can do what we do best. Lead the way to prosperity!

59 posted on 12/30/2010 6:47:06 AM PST by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: Kaslin

Was just talking to a friend about this the other day. Remember the beating GWB took when prices got to $2.50??? And now, the MSM is strangely silent...


60 posted on 12/30/2010 6:48:22 AM PST by rintense (The GOP elite & friends can pound sand.)
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