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Gas prices soar after Iran cuts supply (Just like Obama planned)
abc 7 ^ | 2/20/2012 | staff

Posted on 02/20/2012 3:52:52 AM PST by tobyhill

It doesn’t look like the pain at the gas pump will be easing anytime soon since prices have soared in the past month due to tension in the Middle East.

Iran cut off oil to European countries, as a pre-emptive strike for the European Union's tough new sanctions over its nuclear program.

As a result, over the past month, gas prices have soared 18 cents a gallon, and it might get even worse.

Experts predict they could reach $5 a gallon by Memorial Day.

“It's already hurting the economy and it's going to continue as long as they go up."

(Excerpt) Read more at wjla.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 02/20/2012 3:52:56 AM PST by tobyhill
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To: tobyhill

Undocumented Obama and Sec. Chu have already
said they support $10 a gall gasoline.

The DNC is so against America, only equaled
by the GOP which is ON ITS KNEES to help.


2 posted on 02/20/2012 3:55:40 AM PST by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: tobyhill

Amen.....they WANT HIGH gas prices, but stupid people will not be able to believe Obama is that evil.


3 posted on 02/20/2012 4:01:27 AM PST by Ann Archy ( ABORTION...the HUMAN Sacrifice to the god of Convenience.)
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To: tobyhill

And, this could have been completely avoided. Development of domestic resources over the past 30 years would have moderated the global markets while still keeping supplies and reserves intact.
It’s time to tell the tree huggers and the Chicken-Little enviro nuts to shut up and sit down. It’s time for the adults to take over.
Current technology can well support responsible drilling and transport of crude oil.


4 posted on 02/20/2012 4:08:40 AM PST by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2013: Change we can look forward to.)
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To: Diogenesis
We can stand a temporary rise. It just solidifies the Rat defeat in November. Prices will start coming down in August or September when the defeat of the POS becomes certain. Offshore drilling will return to full production, the gas shale reserves will be freed from the restraint of the enviro-wackos, exploration of North Dakota oil fields will explode and by then there may not be an economically justified reason to even build the Canadian pipeline.
5 posted on 02/20/2012 4:12:30 AM PST by immadashell
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To: tobyhill
“It's already hurting the economy and it's going to continue as long as they go up."

Yeah; with the Un-Employment published numbers plumetting (LOL), this will ruin the EFFECTIVE recovery Plan of The Messiah, and give him the excuse when the bottom falls out and the REAL numbers show up.......

What a joke; this is all geared toward Re-Election of The Messiah, whatever cost to Americans who actually pay their own way, and we continue to heap extra vote-buying funds on the parasites in the inner-city tribal areas, while opening the gates to let illegals flood the job market at the same time.

6 posted on 02/20/2012 4:14:01 AM PST by traditional1
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To: tobyhill
That damn Bush, I swear. . . .
He keeps pushing up the cost of gas and ZERO is trying to keep the cost low. . . .
For the people. . . . .
7 posted on 02/20/2012 4:14:35 AM PST by DeaconRed (Cold War Veteran. . . . US Army Security Agency 1964-1968)
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To: tobyhill

Maybe Obama going to give us a horse for his green plan?.
Horse for clunkers program?.


8 posted on 02/20/2012 4:22:06 AM PST by Vaduz
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To: tobyhill

We’re exporting more oil than we’re importing. Gasoline consumption has dropped off the table. How does Iran play into our price for gas?


9 posted on 02/20/2012 4:24:33 AM PST by ILS21R (Never give up.)
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To: tobyhill

Iran didn’t cut sales to Europe until they had contracts to sell it elsewhere. World supply remains the same. Europe will still get oil, it’s a world market, and even the Iranians can’t stop the ultimate allocation.

Admittedly this recent spike is probably due to the disruption from the Iranian moves, but don’t expect it to last long, with North Dakota, Brazil, Canada, and Iraq all increasing production significantly, while the world economy is still in the tank. Supply. Demand.


10 posted on 02/20/2012 4:33:40 AM PST by wayoverontheright
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To: ILS21R
We’re exporting more oil than we’re importing. Gasoline consumption has dropped off the table. How does Iran play into our price for gas?

I tend to agree. Right now (5:30 am MST) DOW futures are up to 13,000 and Europe is going up. All the talk about Greece, oil, etc., is beginning to look like a bunch of BS. If it is so bad why aren't the markets crashing instead of having the best year in the last 10?

The doom and gloomers have been predicting chaos for months and all we have is better and better conditions. We spent this last weekend in Santa Fe, New Mexico. We expected to have it nice and quiet. The town is booming, not as much as in the summer, but the hotel was full, the art galleries had shoppers, traffic was heavy. And Santa Fe is an expensive town. If it is so bad where did all these people come from?

Don't get me wrong. I think Obama is a disaster. I do think if the president and Congress had done it right we would be 10 times better now. I think it is the American people who are fixing things, not that jerk in the white house and the idiots in Congress.

I can make an analogy to those who predict disaster. Look at all the credit the "aliens from space" get for helping people build the pyramids, Easter Island, Nazca Lines, etc. Those who believe that cannot give credit to those who deserve it, the people. And the same with today's doom and gloomers.

11 posted on 02/20/2012 4:35:35 AM PST by ProudFossil (" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
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To: ILS21R

We’re exporting more oil than we’re importing. Gasoline consumption has dropped off the table. How does Iran play into our price for gas?

Thanks to globalism we have to compete on the world market to buy our own oil.


12 posted on 02/20/2012 4:36:12 AM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: immadashell
We can stand a temporary rise. It just solidifies the Rat defeat in November. Prices will start coming down in August or September when the defeat of the POS becomes certain. Offshore drilling will return to full production, the gas shale reserves will be freed from the restraint of the enviro-wackos, exploration of North Dakota oil fields will explode and by then there may not be an economically justified reason to even build the Canadian pipeline.

First, we have to get Obama out. Second, I don't see anyone in the national spotlight that will actually do all those things. There are too many lily-livered republicans who cave to the special interest groups.

Personally, I don't think things will change much till we take to the streets and eliminate the dregs of society. If the GOP finally grows a spine and drastically cuts the socialist safety net those who have relied their whole lives on the govt. will act like what we have seen in Greece, England, etc.

The welfare state is holding us hostage and the feds suffer from the Stockholm Syndrome. They have become symbiotic with the welfare state. It will take some form of war to excise the welfare state from our system.

13 posted on 02/20/2012 4:40:01 AM PST by raybbr (People who still support Obama are either a Marxist or a moron.)
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To: tobyhill

Bought a new motorcycle helmet yesterday, will need to get some cold weather insulated bibs and maybe some heated grips for the Star bike as it appears I will just park my dually at work and use it for getting parts and such and then just ride the bike to work more often rain or shine.

I’ll be dammed if I will ever consider buying any green car like a Volt, I would rather hitch a team of mules to my Silverado dually first.


14 posted on 02/20/2012 4:40:47 AM PST by Eye of Unk (Liberals need not reply.)
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To: ILS21R

————We’re exporting more oil than we’re importing-——

reference please


15 posted on 02/20/2012 4:43:09 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: tobyhill

Is it time for another bow?


16 posted on 02/20/2012 4:44:42 AM PST by relictele (We are officially OUT of other people's money!)
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To: tobyhill
Iran is just an excuse for Bush and his cronies to jack up the price.
That was then this is now and they will still blame Bush somehow.
17 posted on 02/20/2012 4:45:38 AM PST by DeaconRed (Cold War Veteran. . . . US Army Security Agency 1964-1968)
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To: tobyhill

*1* worse case scenario realized...now proceed with the bombing.


18 posted on 02/20/2012 4:45:38 AM PST by wolfcreek (‘closed eye’ mentality is the reason for our current reality)
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To: Voter#537

drivel...... pure unadulterated drivel


19 posted on 02/20/2012 4:48:17 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: ProudFossil
It's worth noting that much of the "strength" we see in various sectors of the U.S. economy is likely tied to a decline in the value of the U.S. dollar against many world currencies as well as against "currency surrogates" that signify the value of the currency through prices of non-monetary things. Look at the prices of almost every commodity today as measured in U.S. dollars, and you'll see that they are at or near historic highs. For some of these commodities produced in abundance here in the U.S., the high prices are being driven by record exports.

Basically, what has happened here is that it is becoming increasingly difficult for U.S. consumers to afford the things we produce right here.

20 posted on 02/20/2012 4:49:54 AM PST by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: tobyhill
But the Obama Administration claims it is a sign of a booming economy for gas prices to soar.

And they also claim it is because of Bush, Japanese earthquakes, Iran, Midle East, bad luck.

And the MSM just keeps on covering things up and not asking the real question:"How has Anything Obama has done, made us less dependent on foreign oil?

21 posted on 02/20/2012 4:52:00 AM PST by N. Theknow (Kennedys=Can't drive, can't ski, can't fly, can't skipper a boat, but they know what's best for you.)
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To: ILS21R
We’re exporting more oil than we’re importing.

We had been using 20+ million barrels per day and producing around 8 million barrels per day. There might have been some change, but I doubt we're now exporting more crude oil than we're importing.

I think there was a report that we are now exporting more finished petroleum products than we now import.

22 posted on 02/20/2012 4:53:15 AM PST by Will88
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To: Will88
I think there was a report that we are now exporting more finished petroleum products than we now import.

True. "Data released last week by the U.S. Energy Information Administration shows that the U.S. sent abroad 753.4 million barrels of gasoline, diesel and other oil-based fuels in the first nine months of 2011, while taking in only 689.4 million barrels."

Read more: http://www.foxnews.com/us/2011/12/05/us-on-pace-to-become-net-fuel-exporter/#ixzz1mvT3dfKS

23 posted on 02/20/2012 5:07:25 AM PST by ILS21R (Never give up.)
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To: ILS21R

Right. There’s a huge difference between crude oil and oil-based fuels, though. As others have posted here, I’m sure the U.S. still imports far more oil than we export.


24 posted on 02/20/2012 5:11:08 AM PST by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: ILS21R
But this statement from #9 is incorrect.

We’re exporting more oil than we’re importing.

We are not exporting more crude oil than we are importing. When most people refer to "oil", they mean crude oil and not finished petroleum products.

25 posted on 02/20/2012 5:13:28 AM PST by Will88
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To: tobyhill

This only helps Obama if oil and gas prices drop again around labor day and he is seen to have done something.


26 posted on 02/20/2012 5:13:57 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: tobyhill
Try this: http://www.nytimes.com/2010/12/31/world/middleeast/31leviathan.html Wars for gas not oil. *Note link may take you to an ad which can be skipped.
27 posted on 02/20/2012 5:21:35 AM PST by Bronzy (Send a NEWTron to Obama!)
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28 posted on 02/20/2012 5:27:51 AM PST by deoetdoctrinae (Gun-free zones are playgrounds for felons)
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To: sickoflibs
This only helps Obama if oil and gas prices drop again around labor day and he is seen to have done something.

This is exactly right. And prices will fall...just in time.

29 posted on 02/20/2012 5:49:07 AM PST by ILS21R (Never give up.)
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To: tobyhill

It ain’t puttin a dent in the Obama’s vacations.


30 posted on 02/20/2012 6:00:57 AM PST by crosshairs (Liberalism is to truth, what east is to west.)
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To: ILS21R
RE :”This is exactly right. And prices will fall...just in time.

I figure around Labor day when demand starts to drop he will make a big announcement, like moving forward with the pipeline, and releasing the strategic oil reserves at the same time. And that will send oil prices crashing again. Then if he wins the election he can make believe he never said he would do anything.

Israel could throw a wrench in Obama's plans by keeping Iran making threats during that time period.

31 posted on 02/20/2012 6:03:03 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: sickoflibs

That sounds plausible, but 6 months of high gas prices might send consumers back into the bunkers again, and they will refuse to spend. Talked to a coworker the other day who was contemplating buying a new SUV. I just wonder what he’ll be thinking if it’s costing him a crisp $100 to fill that tank during the summer. I still have my 80 mpg scooter; I’m ready.


32 posted on 02/20/2012 7:09:07 AM PST by throwback ( The object of opening the mind, as of opening the mouth, is to shut it again on something solid)
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To: sickoflibs
I figure around Labor day when demand starts to drop he will make a big announcement, like moving forward with the pipeline, and releasing the strategic oil reserves at the same time. And that will send oil prices crashing again. Then if he wins the election he can make believe he never said he would do anything.

Precisely. He announces that he will lift the drilling moratorium in the Gulf of Mexico, approve the Keystone Pipeline, and open the strategic reserve. Prices fall on the expectations, he wins re-election and never implements any of it.

33 posted on 02/20/2012 7:14:02 AM PST by TexasNative2000 (Jimmy Carter's incompetence + Richard Nixon's paranoia = Barack Obama)
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To: tobyhill
I just filled up my oil tank this AM. $3.629/gal

I can see diesel at the Marina this summer being close to $5/gal.-Tom

34 posted on 02/20/2012 7:44:47 AM PST by Capt. Tom
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To: tobyhill

We don’t buy oil from Iran. We produce a lot of our own oil and buy from Mexico, Canada and Venezuela.


35 posted on 02/20/2012 9:25:03 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: tobyhill

Don’t blame Iran, blame Obama. The XL pipeline fiasco needs to be hung around his neck like a millstone.


36 posted on 02/20/2012 9:38:03 AM PST by TexasRepublic (Socialism is the gospel of envy and the religion of thieves)
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