Gas prices soar after Iran cuts supply (Just like Obama planned)

abc 7 ^ | 2/20/2012 | staff

[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."

[Diogenesis]

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.

[Ann Archy]

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

[PubliusMM]

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.

[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.

[traditional1]

“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.

[DeaconRed]

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. . . . .

[Vaduz]

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

[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?

[wayoverontheright]

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.

[ProudFossil]

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.

[freedomfiter2]

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.

[raybbr]

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.

[Eye of Unk]

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.

[bert]

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

reference please

[relictele]

Is it time for another bow?

[DeaconRed]

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.

[wolfcreek]

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

[bert]

drivel...... pure unadulterated drivel

[Alberta's Child]

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.