Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Rising Gas Prices: All Signs Point to Obama
The Sunshine State News ^ | March 1, 2011 | Kenric Ward

Posted on 03/01/2011 3:15:30 AM PST by 2ndDivisionVet

Media reports blame rising gasoline prices on Mideast turmoil, but industry analysts say the real reasons are closer to home -- at the White House and the Federal Reserve.

President Barack Obama's moratorium on drilling and his anti-oil policies continue to rattle energy markets and fuel ongoing price hikes at the pump. And no one -- least of all Obama -- is surprised.

On the campaign trail in 2008, then-candidate Obama called for cap-and-tax policies under which energy prices would "necessarily skyrocket." Studies have since questioned the environmental and economic value of such policies.

Undaunted, the Obama administration canceled hundreds of gas- and oil-drilling leases in Western states. Obama then slapped a series of bans on offshore drilling.

Two federal courts have struck down portions of these moratoriums, but, as with the ongoing implementation of Obamacare (declared unconstitutional by a U.S. district judge), the administration flouts the courts and continues to choke off domestic oil production.

American Solutions, a conservative Washington, D.C., think tank chaired by former House Speaker Newt Gingrich, says Obama's actions have "ultimately led drillers to relocate their rigs (and hundreds or even thousands of good-paying jobs) to other parts of the world, and the long-term impact on domestic production will no doubt be devastating for consumers."

By contrast, the University of Alaska at Anchorage estimates that drilling for oil and gas off Alaska's coast could create more than 50,000 new jobs per year, in addition to producing more than 10 billion barrels of oil and 15 trillion cubic feet of natural gas.

There are another 86 billion barrels of oil in America's Outer Continental Shelf, yet the Obama administration has banned most production there. Not a single new drilling permit has been issued in the United States since last October.

Still, Obama's Interior Secretary Ken Salazar said the government feels "no pressure to hurry its permitting process.”

Ironically, administration policies that drive higher gas prices are helping the very industry that Obama tries to demonize. While rising petroleum costs threaten to tank the U.S. economy, Exxon Mobil's fourth-quarter profits soared 53 percent.

Then there's the Federal Reserve, whose "reflation" policies are driving down the value of the dollar.

In an analysis of recent oil prices, the Wall Street Journal noted, "It's important to keep in mind that oil was already trading in the $85 to $90 a barrel range before the recent irruption in the Arab world. The run-up to that price territory began in earnest last year after the Federal Reserve embarked on its QE2 strategy of further monetary easing."

"QE2" is "quantitative easing, which, in effect, pumps more money into the economy. But in doing so, the Fed devalues the greenback and triggers speculation on things like oil.

The Fed claims that rising oil prices are simply a reflection of higher demand. But, the Journal found that demand is "not enough to explain what has been a nearly across-the-board spike in prices for dollar-traded commodities."

"The Fed will use the Libya turmoil as another alibi, but there's no doubt that oil prices include a substantial [Fed Chairman] Ben Bernanke premium."

Obama's Treasury Secretary Timothy Geithner seems nonchalant. "The world's got a lot of experience in managing the tensions that could come with short-term impact on commodity prices," Geithner told reporters last week. He added, "It's not rocket science."

But since the U.S. consumes about 7.5 billion barrels of oil a year, every $10 a barrel increase costs the U.S. economy about $75 billion. And, notes the Journal, "Since over half of that oil is imported, the benefit flows to foreign producers."

Industry analysts argue that the Fed's monetary policy and the Obama administration's energy policy are the two biggest factors in the rising price of gasoline.

Obama maintains that his "green" polices that impose higher fees and charges on the petroleum industry will "break our dependence on oil."

Energy economists say such a strategy is ultimately counterproductive.

"If the president is truly serious about raising revenue, then he should eliminate all energy-related tax preferences and let all sources compete," said Robert Bryce, a senior fellow at the conservative Manhattan Institute.


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: 7dollargas; bho44; bhofascism; bhotyranny; democrats; drillheredrillnow; economy; energy; envirofascism; gasoline; gasprices; govtabuse; liberalfascism; libya; obama; obamatruthfile; oil; recession; tyranny
Navigation: use the links below to view more comments.
first 1-5051-100101-109 next last
It's like someone held a "president for a day" contest and a loony-left smarmy tree-hugging college sophomore won and won't leave the oval office.
1 posted on 03/01/2011 3:15:34 AM PST by 2ndDivisionVet
[ Post Reply | Private Reply | View Replies]

To: 2ndDivisionVet

With all of his experience as an executive, I guess, Mr. Obama knows exactly what he is doing. I sure can imagine his self esteem has plummeted. Heck, I feel bad when I screw up and purchase a plane ticket on the wrong day. How would you feel if you knew you were the one who screwed up a an entire country?


2 posted on 03/01/2011 3:28:30 AM PST by rovenstinez (.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rovenstinez
How would you feel if you (Obama) knew you were the one who screwed up a an entire country?

You apparently don't get it.

Obama is there to destroy as much of America as he can.

No Drilling

Open borders, flood the hospitals, schools, welfare, ....

Let all the "peaceful" Muslims in

ETC.

If you wanted to destroy America, you'd do everything Obama is doing. It's being done ON PURPOSE.

3 posted on 03/01/2011 3:36:21 AM PST by politicianslie (A taxpayer voting for Obama is like a chicken voting for Colonel Sanders)
[ Post Reply | Private Reply | To 2 | View Replies]

To: 2ndDivisionVet

All the more reason why Obama will be a one-term President just like Jimmy Carter was.


4 posted on 03/01/2011 3:40:40 AM PST by RayChuang88 (FairTax: America's economic cure)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

But he has a nice smile,
And by electing obammy it will wipe away all that white guilt for American slavery (which ended over 150 years ago.
Obammy is after all a “magic negro”.

Obammy is an unAmerican marxist p.o.s.


5 posted on 03/01/2011 3:41:31 AM PST by Joe Boucher ((FUBO))
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Pump


6 posted on 03/01/2011 3:43:55 AM PST by GlockThe Vote (Who needs Al Queda to worry about when we have Obama?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rovenstinez

World oil production is about 32 billion barrels a year. Another billion or so from the US would have very little impact on prices. The high prices are largely driven by higher consumption in developing countries; many people in China and India are now able to buy cars.


7 posted on 03/01/2011 3:45:50 AM PST by proxy_user
[ Post Reply | Private Reply | To 2 | View Replies]

To: 2ndDivisionVet

I think it would be more accurate to say; all signs point to the current administration


8 posted on 03/01/2011 3:47:22 AM PST by stuartcr (Everything happens as God wants it to...otherwise, things would be different)
[ Post Reply | Private Reply | To 1 | View Replies]

To: politicianslie

Ageed, we are under attack by our federal government, we the people need to strip them of their power to raise money and declare martial law, should be handled by the states..


9 posted on 03/01/2011 3:49:13 AM PST by aces
[ Post Reply | Private Reply | To 3 | View Replies]

To: RayChuang88

Dont be so sure a Billion dollars buys a Lot of Propaganda. Case in Point the Front Page of the NY Tomes TODAY,Americans By a 60 to 33 Percent Favor Government Union Employees keeping thier Collective Bargaining Rights to Screw Tax Payers. Explain that to Me and say Obama Wont be Reelected


10 posted on 03/01/2011 3:49:54 AM PST by ballplayer
[ Post Reply | Private Reply | To 4 | View Replies]

To: rovenstinez
How would you feel if you knew you were the one who screwed up a an entire country?

If you were Obama, PROUD.

11 posted on 03/01/2011 3:54:01 AM PST by ProtectOurFreedom
[ Post Reply | Private Reply | To 2 | View Replies]

To: politicianslie
You apparently don't get it.

Obama is there to destroy as much of America as he can.

No Drilling

Open borders, flood the hospitals, schools, welfare, ....

Let all the "peaceful" Muslims in

Both parties as well as the media have had a hand in this. I guess treason and sedition just don't really mean what they used to in this country.

All these problems could be fixed, the thing is, no one on either side really wants them fixed.

Socialists/communists on one side and globalists on the other side and your typical hard-working patriotic American stuck in between. What to do?

I know, let's vote Republican next time and everything will be ok. You might as well be watching WWF.

12 posted on 03/01/2011 3:57:10 AM PST by Envisioning (Call me a racist,........one more time.....)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ixtl; waterhill

Gas prices (((ping))).


13 posted on 03/01/2011 3:59:38 AM PST by Envisioning (Call me a racist,........one more time.....)
[ Post Reply | Private Reply | To 12 | View Replies]

To: politicianslie; rovenstinez
You are so correct...and we do know, it's just so difficult for the mind to process that someone would be insane enough to actively pursue a "destruction of America" agenda.

It will affect his own children one way or another. He is working to diminish the future of even his own family!

What a sick, twisted freak.

14 posted on 03/01/2011 4:03:22 AM PST by Caipirabob ( Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: 2ndDivisionVet

Remember this woman?

http://www.youtube.com/watch?v=P36x8rTb3jI


15 posted on 03/01/2011 4:05:56 AM PST by Straight Vermonter (Posting from deep behind the Maple Curtain)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Envisioning
Both parties as well as the media have had a hand in this.

Yes, they have. :(

16 posted on 03/01/2011 4:14:29 AM PST by muggs (Hope and Change = Hoax and Chains)
[ Post Reply | Private Reply | To 12 | View Replies]

To: 2ndDivisionVet; Nachum

American Idol president


17 posted on 03/01/2011 4:20:04 AM PST by Loud Mime (If it is too stupid to be said, people will listen to it, if sung - - Voltaire)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet
Will we survive as a Nation... I think not... we may survive in one form or another... but this union is broken and the pieces cannot be put back together. Half of America welcomes communism and sharia. I pray that I am wrong and I pray for GOD to actively help save our once Great Nation.

LLS

18 posted on 03/01/2011 4:25:24 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: proxy_user

Actually... that is just what the left wants you to believe. There is corruption and manipulation going on and it is worldwide and in every government.

LLS


19 posted on 03/01/2011 4:26:59 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: politicianslie

BINGO!

LLS


20 posted on 03/01/2011 4:27:33 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: rovenstinez

He laughs at people like you... and people that think like you do have enabled him... some even voted for him.

LLS


21 posted on 03/01/2011 4:30:07 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: stuartcr

Only if you fall for the old Clinton ruse that the executive branch members are just out there on their own pursuing their own agenda in their respective departments. The headline is correct.


22 posted on 03/01/2011 4:32:12 AM PST by John W (Natural-born US citizen since 1955)
[ Post Reply | Private Reply | To 8 | View Replies]

To: ballplayer
It is the communist mainstream American newspaper... Americans no longer trust the slimes... and they are going bankrupt because of it... and Gallup and Rasmussen have polls that disprove these propaganda minister's droolings... and obama will be defeated. It may be too late to save America however.

LLS

23 posted on 03/01/2011 4:33:06 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Envisioning

Double BINGO!

LLS


24 posted on 03/01/2011 4:34:05 AM PST by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 12 | View Replies]

To: All

Obama: My Plan Makes Electricity Rates Skyrocket

http://www.youtube.com/watch?v=HlTxGHn4sH4


25 posted on 03/01/2011 4:35:43 AM PST by sheikdetailfeather ("Kick The Communists Out Of Your Govt. And Don't Accept Their Goodies"-Yuri Bezmenov-KGB Defector)
[ Post Reply | Private Reply | To 18 | View Replies]

To: rovenstinez
How would you feel if you knew you were the one who screwed up a an entire country?

The sad thing is... Obama thinks he's winning!

26 posted on 03/01/2011 4:39:50 AM PST by April Lexington (Study the Constitution so you know what they are taking away!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: John W

I disagree. I think that whoever is in office will have the signs pointt to them.


27 posted on 03/01/2011 4:42:32 AM PST by stuartcr (Everything happens as God wants it to...otherwise, things would be different)
[ Post Reply | Private Reply | To 22 | View Replies]

To: proxy_user
Another billion or so from the US would have very little impact on prices.

Since Libya only produces ~650 million barrels a year, their complete shutdown would have little impact on prices as well???

28 posted on 03/01/2011 4:42:38 AM PST by thackney (life is fragile, handle with prayer (biblein90days.org))
[ Post Reply | Private Reply | To 7 | View Replies]

To: 2ndDivisionVet
no mention of the boy printing money like it's going out of style...
29 posted on 03/01/2011 4:43:45 AM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: stuartcr

By whom? Hopefully not you and certainly not me. Maybe the MSM. But, we have the big bad oil men out of the White House and as the headline and the article clearly state, this president’s policies are driving up the cost of fuel.


30 posted on 03/01/2011 4:59:07 AM PST by John W (Natural-born US citizen since 1955)
[ Post Reply | Private Reply | To 27 | View Replies]

To: 2ndDivisionVet
Interesting tidbit (to me, anyway): Earlier today Fox & Friends interviewed a guy who was evacuated from Libya via the Obama Express Ferry (toot! toot!). When asked what he was doing there in the first place, he said he was affiliated with some sort of BP oil exploration project there.

Interesting, because BP was "Bad People" in the Gulf of Mexico spill last year and why Obama was able to issue the moratorium on drilling. Zero hates the Brits for their "colonial occupation" of his birth country (Kenya tell where I'm going here?). No wonder he supports the "revolution" in Libya. (The fact that Libyans want their Islamic freedom---heard that in an interview last night---is icing on the cake for him.)

I'm going way tinfoil here: was the BP oil rig explosion sabotage?

31 posted on 03/01/2011 4:59:11 AM PST by arasina (So there.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RayChuang88

The question is how long will the term be? Until the remainder of the 4 year cycle is over or a try for a lifetime term as lord 0, the wun, of the failed states of America?


32 posted on 03/01/2011 5:01:25 AM PST by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
[ Post Reply | Private Reply | To 4 | View Replies]

To: John W

I believe by the general public.


33 posted on 03/01/2011 5:03:20 AM PST by stuartcr (Everything happens as God wants it to...otherwise, things would be different)
[ Post Reply | Private Reply | To 30 | View Replies]

To: 2ndDivisionVet

Barack Obama: “I think that I would have preferred a gradual adjustment.”


34 posted on 03/01/2011 5:04:27 AM PST by FreeAtlanta (Obama and the left are making a mockery of our country.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Caipirabob

It will affect his own children one way or another. He is working to diminish the future of even his own family!

###

Oh, don’t worry about his kids, they will be privately taught and grow up in an liberal environment where they will continue to be worshiped as icons. Heck, I bet someday they will be encouraged to run for political office.


35 posted on 03/01/2011 5:06:07 AM PST by reaganbooster (The democrat party symbol should be the grim reaper instead of the donkey.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: 2ndDivisionVet

It is hie end game high gas prices will move America to
Green Energy more windmills, solar panels
High Speed rail
Electric cars

he is utilizing the assumption that Social engineering will work.
He tried through ligislation and executive orders and bullying the American public through bailouts and stimulus packages - he is thrown out everything including the kitchen sink.

Nothing has worked, utilize the perceived crisis in the Middle East and the perceived limited attepts to end the Oil Moratarium (he psined something to allow some Houston based company to drill beyond 13,000 feet, real limited but it is his way of saying the Moratarium is lifted - Blame the Oil Companies again.

End Game the federal Government is the only one whom can fix the problem. Yes Oil will rise, gas prices will rise and Obama will masterfully manipulate everything to get his Game Plan he will win. That is his goal the x’s and o’s mean love and kisses and He will supply everything to achieve the love and adoration from the public.


36 posted on 03/01/2011 5:10:17 AM PST by hondact200 (Candor dat viribos alas (sincerity gives wings to strength) and Nil desperandum (never despair))
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Our toothless Congress and Supreme Court are too scared to say anything as this punk rules like a king. George Washington graciously refused the authority, though he was certainly worthy of it, but this wet-nosed Chicago Communist has the typical affirmative action attitude that our country owes him this, and no one stands up to him but the grandmothers and grandfathers in the TEA Party. Shameful.


37 posted on 03/01/2011 5:12:16 AM PST by kittymyrib
[ Post Reply | Private Reply | To 1 | View Replies]

To: Joe Boucher
Obammy is after all a “magic negro”. Obammy is an unAmerican marxist p.o.s.

The Messiah is closer to being half Arab than half black. The Messiah is basically an anti American Arab witha somewhat milder disposition than those Egyptians who raped Lara Logan, calling her a dirty Jew and American bitch.

38 posted on 03/01/2011 5:14:33 AM PST by Stepan12 (Palin & Bolton in 2012)
[ Post Reply | Private Reply | To 5 | View Replies]

To: 2ndDivisionVet

And let’s not forget that high gas prices are supposed to drive the public to buy the union-made Volt. There’s a lot the Obama stash invested in that modern Edsel...


39 posted on 03/01/2011 5:21:11 AM PST by PIF (They came for me and mine ... now it is your turn ...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: proxy_user
As my dear grandfather was so fond of saying throughout his life ... "Can't never could do nothin'!"
40 posted on 03/01/2011 5:29:49 AM PST by The Duke
[ Post Reply | Private Reply | To 7 | View Replies]

To: RayChuang88
All the more reason why Obama will be a one-term President just like Jimmy Carter was.

I hope your right, but I still think America doesn't get it. People only read papers and take them for the honest truth. Same with all the MSM.

41 posted on 03/01/2011 5:31:46 AM PST by justice14 ("stand up defend or lay down and die")
[ Post Reply | Private Reply | To 4 | View Replies]

To: politicianslie

“If you wanted to destroy America, you’d do everything Obama is doing. It’s being done ON PURPOSE.”

Cloward Pivens...collapse the economy...collapse America. This man is pure evil and disgusts me. What is even more disturbing are the morons who defend this azzclown.


42 posted on 03/01/2011 5:33:37 AM PST by oust the louse (Mr. Obama is a left-wing ideologue who believes in the greatness of Fedzilla.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: 2ndDivisionVet

What kind of trouble would you get in for putting small stickers on gas pumps stating “0bama wants $8 gas”.


43 posted on 03/01/2011 5:34:34 AM PST by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Joe Boucher

“Obammy is after all a “magic negro”.

Let’s not forget he is a Magic Muslim as well....


44 posted on 03/01/2011 5:34:39 AM PST by oust the louse (Mr. Obama is a left-wing ideologue who believes in the greatness of Fedzilla.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: 2ndDivisionVet

Obama’s brillaint idea? Fund a union to build ANOTHER failed rail system.


45 posted on 03/01/2011 5:43:19 AM PST by cake_crumb (Obama=Evil Spawn)
[ Post Reply | Private Reply | To 1 | View Replies]

To: oust the louse
What is even more disturbing are the morons who defend this azzclown.

-----------------------------------

B.O. More Damaging Than BP

Obama-responds-to-Gulf-oil-crisis-06-15-10a

46 posted on 03/01/2011 5:44:12 AM PST by BobP (The piss-stream media - Never to be watched again in my house)
[ Post Reply | Private Reply | To 42 | View Replies]

To: 2ndDivisionVet

Obama isn’t going to do crap to lower the oil price.

He’s an ideologue who believes in Global Warming.

Get used to it.

And get used to his followers blaming everyone else for the high price of oil.


47 posted on 03/01/2011 5:45:30 AM PST by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: proxy_user

No, it would ake little difference in SUPPLY, not price. The trading price on the futures market would see an immediate drop as soon as the Obama administration started REALLY issuing permits, not just the token one just issued in an attempt to beat the contempt of court charge.


48 posted on 03/01/2011 5:49:07 AM PST by cake_crumb (Obama=Evil Spawn)
[ Post Reply | Private Reply | To 7 | View Replies]

To: BobP

He knows exactly what he´s doing. It´s jihad.


49 posted on 03/01/2011 5:50:05 AM PST by onedoug (If)
[ Post Reply | Private Reply | To 46 | View Replies]

Comment #50 Removed by Moderator


Navigation: use the links below to view more comments.
first 1-5051-100101-109 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson