Video: Get ready for big hike in gasoline prices

Hot Air ^ | February 15, 2012 | Ed Morrissey

[C19fan]

Until now, Barack Obama has had some mildly good news on the economy, with weekly jobless claims sticking around the 350k-370K range and a boost in job creation in January. Unfortunately for Obama and all of us, the same problem that strangled the economy in 2008 and 2011 is about to hit the US again. NBC’s Today show reports on the significant price hikes coming in the price of gasoline:

[C19fan]

From Obama's viewpoint, the bad part is the **** will hit the fan before November. He and his buddies are happy gasoline will hit $5+ per gallon so we will be forced to buy his POS cars like the Volt.

[dirtboy]

Gas demand is tanking at this price yet the price is heading towards $5/gallon?

[cuban leaf]

The achilles heel of my job is the 98 mile round trip commute.

[GOPJ]

Get ready? It's been happening since Obama was elected... See tag: GAS WAS $1.85 per gallon on the day Obama was Inaugurated!

[albie]

“Until now, Barack Obama has had some mildly good news on the economy”

...can someone please share with me what that “good news” is? Gas is up almost 100% since this idiot sat his skinny, Marxist can in the oval office. Food Stamps are through the roof. Unem. is through the roof. Groceries are through the roof.

[FReepaholic]

...Gas demand is tanking at this price yet the price is heading towards $5/gallon?...

That's what I don't understand. Reports are that demand is falling.

Every summer they blame it on the retooling of refineries to satisfy all the different blends demanded by California but it's only February. They can't have started that already.

[DuncanWaring]

For The Won, all that is good news; he’s been raised from his mother’s knee to hate Western Civilization in general and this country in particular.

Anything bad for this country he perceives as good.

[dirtboy]

I watched the first part of the Today Show video and they blamed refinery shutdowns, increasing gas exports and soaring demand in Asia.

Of course, in 2008, they blamed it on soaring demand in Asia that never was, which is why the speculative bubble popped and drove the price down to a buck fifty.

I think the same players have another bubble engineered for this summer. If the price of gas is affected that much by exports, the exports will end up staying here instead. Meanwhile, tanking demand would counter refinery shutdowns. This reeks of manipulation.

[Signalman]

NY Times headline coming soon:

“GAS Prices Reach $6.00 per Gallon. Woman and Minorities Hardest Hit”.

[Myrddin]

Demand is falling, but so is supply. Supply is being choked off by Obama's anti-oil policies and the specter of a hot war with Iran squeezing supplies further.

[null and void]

I've been putting this sticker on gas pumps:

"Somehow we have to figure
out how to boost the price of
gasoline to the [$8-$10/gal]
levels in Europe." - Barack Obama's
Energy Secretary Steve Chu. Had enough yet???

I've sized mine to fit twelve to a sheet of bumper sticker stock...

[AAABEST]

Wow. So in other words, gas prices have gone up 100% - or doubled - since Obama has been in office.

A campaign ad with that factoid alone should be enough to get Maobama sent back to Chicago.

[MichaelP]

Mine is 106 miles. I've resisted, but I have to buy something that gets great fuel mileage. My Trailblazer is costing me $100 a week at $3.50 a gallon. I might buy a Sonic!

Mike

[dirtboy]

Obama's oil policies suck, but they are not driving this phenomenon, oil output has increased recently due to Libya coming back on-line.

This is about gasoline supply. When one week I read about gasoline use utterly tanking, and the next week I see the usual babbling talking heads trying to come up with reasons why the price of gas will skyrocket despite severely declining domestic demand, I smell BS.

[thackney]

Gas demand is tanking at this price yet the price is heading towards $5/gallon?

Global oil prices are climbing. US gasoline is less than 9% of the world petroleum market. The total global oil market is no longer falling, it is growing.

Oil is fungible. Beyond the transportation costs, our prices will vary with theirs. Just as our economy going into 2008 was helping to drive their prices.

[DownInFlames]

I just quit my sales job. Since jan 1, I have racked up $1,600 in mileage w few sales.

[thackney]

Demand is falling, but so is supply.

What supply do you think is falling?

Our domestic production of oil is climbing, we are refining more petroleum than we use, making us a net exporter of products. We still import too much oil, but the global supply is climbing, not falling.

There is a short term risk of an interruption of supply creating a spike in prices while refineries around the world try to top off their stocks prior to that happening, if they believe it likely.

But the global demand is growing and that is the biggest impact on the world oil price trends.

[Rich21IE]

Gas demand is tanking at this price yet the price is heading towards $5/gallon?
________________________________________________________
Strange how that works.........isn’t it?

[thackney]

Gasoline prices are not separated from the global oil prices. We still import a lot of oil and are part of that global market.

Our gasoline demand is falling, but the overall global petroleum market is growing.

[Myrddin]

After Obama trashed the oil leases in Utah, Wyoming and Nevada, then screwed up the Gulf with the permit moratorium, the resources for domestic production took a pretty big hit. If we are increasing output in spite of all that intentionally inflicted damage, I'm surprised.