Skip to comments.Three Reasons Gas Prices are High
Posted on 04/10/2012 6:09:52 AM PDT by Kaslin
The blatant hypocrisy and arrogance of president Obama, Nancy Pelosi, and Hillary Clinton in the video below is simple stunning.
Caroline Baum on "Obama the Omniscient"
Inquiring minds are reading Bloomberg columnist Caroline Baum's article
(Excerpt) Read more at finance.townhall.com ...
three reasons gas prices are high... government regulations, government taxes and government interference....
1. weak dollar
2. weak *resident
3. lack of domestic production
This country has a history of Robber Barons. Now the robber barons are in the government and taking over the high profit industries.
I have no great love for the Arab Oil Sheiks to whom Obama bowed when he bowed to the king of mecca.
They are the ones making out like bandits, but nary a peep of that comes out of the mouth of the one.
Hypocrisy ... thy name is 0bama.
One reason for the current price of gasoline is that the price at the pump is at the intersection of ‘Supply and Demand,’ plus 10 cents a gallon to Oil Companies, and 40 cents a gallon to Local, State and the damned Federal Government.
Since 95 % of the supply of Crude Oil in the world is directly controlled by governments foreign to the USA, it is fair to say that 95 % of the price of Gasoline is controlled by foreign Governments.
If all taxes paid at the pump by consumers were removed for the rest of the year, politicians would have lowered lowered gasoline prices by 10 %.
BTW, the politicians recently gave us a partial payroll tax holiday, so why not a Gasoline and Diesel Tax Holiday?
2) Termination of most oil drilling on Coast Waters (including devastated Louisiana)
3) Termination of the XL Pipeline with Canada.
All Policies of the Obama Administration to increase Energy Costs.
1. opec is a monopoly that sets the world supply of oil
2. opec funds ecology branch of dem party to limit US production
3. opec dabbles in world disorder to keep price high when they
mess up on supply calculations
1. Weak Dollar/Inflation
2. Wall Street Bailouts/Speculation
3. Lack of Production/Protection
Read history, this is why OPEC was formed in the 1960's- oil prices were flat yet the Western Countries were running high inflation. The Arab economies based primarily on natural resource exploitation (oil) had to increase prices to keep up with the inflation of the value added products they imported. The same is happening today. When the dollar doesn't go as far, you need more dollars.
You have it backwards. "Industry" LOVES a guaranteed bigger return without having to invest. That's why their owners on Wall Street gave Zero so much money.
What are they making per barrel of oil? I keep seeing how much they make per gallon of gasoline but that isn’t the only place oil is used. In searching I only find quotes of the per gallon of gasoline. I found one site that listed $80 a barrel of oil but it was a dubious source.
February 4, 2009 Just months after Obamas Energy Secretary said, Somehow we have to figure out how to boost the price of gasoline to the levels in Europe, the Regime begins scrapping leases for oil-shale development and cancels 77 leases for oil and gas production in Utah. Gas is $1.91 a gallon.
March 7, 2009 ABC News says the White House is closely monitoring the expedited Solyndra loan project even as it was delaying new American energy production that would help make us less dependent on foreign energy. Gas is $1.94 a gallon.
June 27, 2009 - Obama urges the Senate to adopt House Democrats cap and trade national energy tax the same plan O once admitted would cause electricity rates to necessarily skyrocket. Gas is $2.50 a gallon.
January 7, 2010 The Regime announces new bureaucratic hurdles to American energy production that Secretary Salazar admitted could add delays to the leasing and drilling process. Gas is $2.67 a gallon.
March 31, 2010 Instead of opening new areas to energy exploration and development, Obama blocks deep-ocean energy production on 60% of Americas Outer Continental Shelf. Gas is $2.80 a gallon.
December 1, 2010 Obama re-imposes and expands the moratorium on offshore energy production. Gas is $2.86 a gallon.
January 2, 2011 TIME reports that the Obama Regime issued the first in a series of regulations designed to unilaterally impose a national energy tax. Gas is $3.05 a gallon.
May 5, 2011 The Regime issues a formal statement opposing House-passed Restarting American Offshore Leasing Now Act (H.R. 1230), and Putting the Gulf of Mexico Back to Work Act (H.R. 1229) legislation designed to jumpstart American energy production, address rising gas prices, and help create new jobs. Gas is $3.96 a gallon.
June 21, 2011 - The Regime opposes the House-passed Jobs & Energy Permitting Act that would unlock an estimated 27 billion barrels of oil and 132 trillion cubic feet of natural gas. Gas is $3.65 a gallon.
November 8, 2011 The Regime releases a plan for a five-year moratorium on offshore energy production, placing some of the most promising energy resources in the world off-limits, according to the House Natural Resources Committee. Gas is $3.42 a gallon.
January 18, 2012 Obama rejects the bipartisan Keystone XL pipeline and the more than 20,000 jobs that would come with it. Gas is $3.39 a gallon.
April 10, 2012 Average price of gas: $3.95
The ONLY place the democrats want to drill is the wallets of the American people.
If an oil company is not replacing their reserves, they are going out of business. For every barrel sold, a new barrel must be added either through acquisitions of someone else's reserves, or spending the dollars on exploration and building new production facilities. And as the dollar weakens, they spend more dollars on those replacement barrels.
The following link is the average price paid by US refineries to bring in a barrel of oil. That is the average price an oil company sells their oil for in the US. Included in that price is the cost of the transportation.
These two links shows the variation of oil prices based upon quality and location.
Domestic Crude Oil First Purchase Prices for Selected Crude Streams
Landed Costs of Imported Crude for Selected Crude Streams
How do you figure that? The Robber Barons were active in the late 1800s and early 1900s putting competing railroads and oil companies out of business. It was the only time the unions were useful getting reasonable working conditions and wages. The banking robber barons took over the banking industry and caused the depression to make a fortune. This was all before Obama the late comer.