Posted on 06/14/2014 7:29:57 AM PDT by MeshugeMikey
And thank goodness we’re going to send more gas to the EU.
The morons of America are going to learn one way or the other.
Thank God we built all those new refineries.
Saw a news report about higher gas prices because of Iraq, watching it with an Obama supporter...they retorted back to the TV “Ha! The oil companies will use any excuse to jack up prices more!”
I nearly wretched at the ignorance of basic laws of economics.
The “expert” is speaking of a worldwide increase, but I’m not convinced it would have a great affect in the US.
Crude oil exports are restricted to: (1) crude oil derived from fields under the State waters of Alaska's Cook Inlet; (2) Alaskan North Slope crude oil; (3) certain domestically produced crude oil destined for Canada; (4) shipments to U.S. territories; and (5) California crude oil to Pacific Rim countries. Totals may not equal sum of components due to independent rounding. See Definitions, Sources, and Notes link above for more information on this table. Release Date: 5/29/2014
see #26
it is the worldwide demand that creates the problem with supply...
The DOE annual budget request for 2014... $28.41 Billion dollars.
Nearly 40 years later and we're still workin' on solving the problem.
Bush’s fault for gas prices soaring while he was in office.
Bush’d fault once again 6 years after he left office.
Bush’s fault.
Bush’s fault.
thats the words from Nasty Pelosi’is office
If I had an EBT care....I could get me some OBAMA GAS!!!
It's a global market. US producers will sell their resources to the highest bidder.
Bad idea. We will only get the lowest average prices when there is no reserve. Of course there will be spikes and people will kvetch, but prices will quickly drop as new resources come online.
When was the last time Obama was questioned about gas prices, 2010?
I cant remember...but given that ...it must have been a WHILE back!
He lacks the COURAGE...to make the same sort of statements about OIL...that he’s mad about COAL...
It’s a win/win for Obama and fanatical Democrats.
I’m not sure the democrat party will be so happy with this come fall elections. It will point the blame directly had his worthless ass and at democrats. No Keystone, no drilling, no coal, all at the hands of the democrat party.
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You are right. Problem is, Republicans can’t seem to hammer that message as well as you can. They can’t seem to drill the message down to the basics.
Obama - that’s why we need solar powered light rail. I today am signing an executive order empowering the EPA to take all the private land in the USA for such rail right of way.
All the Democrats need now is for the saying, ‘’Drill, Baby, Drill!’’ to be taken out of mothballs and become the rallying cry for Republicans in the next two election cycles. That would just about do it for the Donkey Party.
But will American gasoline prices, which are tied to global oil-futures prices, rise enough to create such a situation?
On the one hand, every time during his presidency that global oil prices have threatened to rise above a certain level — approximately $107 a barrel, where it is now — Obama has opened our Strategic Oil Reserves to flood the market in order to keep the American people from angrily running for their pitchforks.
So, will he open the floodgates again as chaos continues to engulf Iraq and spread to its neighbors? In fact, is there anything left in our Strategic Oil Reserves at the moment, or has selfish Obama, now firmly ensconced in a second term and unable to run for a third, failed to replenish it since it won’t affect his own political fortunes?
On the other hand, three of the world’s top oil-producing nations — Nigeria, Venezuela, and Iraq — have been in a state of civil chaos for months; the only difference now is that the chaos in one of them — Iraq — has reached the oil fields. That’s serious. But will global investors THINK it’s serious?
If investors thought it was serious on Friday, they’d have bid oil prices up then, since they wouldn’t have wanted to risk being left out of a major price rise if the Iraq situation deteriorated too much over the weekend. But they DIDN’t bid the price up by much on Friday.
So maybe we’ll have to wait until the al-Qaeda version operating in Nigeria disrupts Nigeria’s oil fields sufficiently before investors get serious enough about the global oil situation to inflict $10-a-gallon on us at the pump.
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