Obama: No Easy Answers to Lowering Pump Prices (Yes there is! Pipeline, Drill, New Refineries)

abc ^ | 2/25/2012 | ANNE GEARAN / Associated Press

[troy McClure]

We should call him Barack “POND SCUM” Obama.

[duckman]

Don't forget seasonal and geographical multi blends? I don't know the reason for multi blending, maybe it's necessary.

[Popman]

Obama and his ilk will not be happy until we are living in the dark due to high energy costs and driving volts or bicycles like N Koreans

He will gladly have us on our knees to prove how smart he is...

Words do not describe how much I loathe this fool

[dragnet2]

How about telling employers who use tens of millions of people to sit at a desk/cubicles all day simply to use a telephone and computer and set them up at home.

It's absolutely stupid to allow this to happen and does nothing but waste oceans of fuel.

Give the GD employers incentives to do this, whatever it takes.

We could save BILLIONS of gallons a fuel, and eliminate most traffic jams etc. We have the technology to do this RIGHT NOW.

[DeaconRed]

There is one real easy answer. . . . .
Replace ZERO. . . . . .

[Wuli]

“(Yes there is! Pipeline, Drill, New Refineries)”

That’s two-third’s right.

Is there a supply shortage of refined gasoline in the U.S. that is constricting the retail supply of gasoline? That depends. Is there supplies of crude massed in storage that would be dumped - under current market conditions - into refineries if only there was more refineries? No. If more oil was drilled domestically, would more oil be refined domestically? Not necessarily. If more oil came down the pipeline to the U.S. from Canada, would more oil be refined domestically. Not necessarily.

Why? Current refineries are able to produce as much gasoline as the domestic market requires. More refineries might just mean that excess capacity would be produced, with the affect of either creating U.S. produced gasoline for export, or increasing domestic gasoline supply at the domestic retail level with the results of lower retail gasoline prices AND lower profitability of U.S. refinery operations - not a likely objective of the owners of the refineries.

In as much as U.S. domestic refineries are keeping up with domestic gasoline supply demands, the most likely positive result of more domestic drilling will not be, or require, or depend on more U.S. refineries, but will help make the U.S. again a major exporter of crude oil AND of refined oil products as well.

At the retail level, more domestic drilling and getting more crude oil from Canada will not automatically mean radically lower retail gasoline prices, but will help reduce domestic price volatility of retail gasoline prices.

As U.S. begins to actually export oil again, foreign domestic supply disruptions and demands COULD affect domestic retail refined-oil product prices, as exporting for those disruptions and demands could increase the profitability to doing so and decrease U.S. domestic crude going to U.S. refiners.

It is you see, whether in the area of crude oil or its refined products, a global, not simply a domestic market.

What is the biggest reason for “drill, drill” and the pipeline from Canada? The U.S. retail price of gasoline? No. It’s jobs, and U.S. private enterprise gains, which translates to U.S. investors gains and U.S. GDP gains, no matter what it does or does not do vis-a-vis the retail price of gasoline.

A former boss once told me: Keep your eye on the donut, not the hole.

[snowtigger]

Republicans proved how easy it is to lower pump prices when they were last this high. Let Islam know that we will produce our own energy, to the total exclusion of their energy

BINGO!!! Starting Keystone and ANWR, along with the Western shale oil deposits will scare OPEC into lowering their prices to the point it's not feasible to continue these projects. IMHO