Charts that prove Obama doesn't set gas prices

Mar 22, 2012 | Posted by: Mr_Bill | Full story: globalpublicsquare.blogs.cnn.com

The public understands Obama isn’t to blame for high gasoline prices, as recent polls make clear. Even the Wall Street Journal and Cato Institute agree: “It’s not Obama’s fault that crude oil prices have increased.”

The Times put together some great charts using EIA data. They make clear 1) oil prices are set on a global market and 2) the strategy of “Drill, Baby, Drill” adopted by the GOP and President Obama has succeeded at increasing production and decreasing dependency on foreign oil — but it has unsurprisingly failed at affecting global markets.

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Since: Feb 07

Whitman,Ma

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#1
Mar 22, 2012
 

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mybe he dont set the price,but he has a lot of control over the price of gas. The democrats blame bush for high gas prices and Obummer is in the same position. I would say he is to balme if Bush was to blame. How about that Pipeline to Nowhere?

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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Mar 22, 2012
 

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Wake up USA wrote:
mybe he dont set the price,but he has a lot of control over the price of gas. The democrats blame bush for high gas prices and Obummer is in the same position. I would say he is to balme if Bush was to blame. How about that Pipeline to Nowhere?
Under Bush, we saw the huge growth of speculation in basic commodities markets, with hedges and futures, especially oil.

I certainly wouldn't have expected Bush to put a crimp in this, but I do expect that President Obama should have. He didn't. Obsms is to blame in that he did not put it to congress to enact a 100% profits tax on income from oil hedges and futures.

We are being gouged and raped.

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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Mar 22, 2012
 

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Oh the reich nows the President doesn't set gas prices in a free market. If that was the case prices would have remained the same under Dubya, but as they cyclical gas prices go, they still went up and down.

They went so high that Bush decided to tap our reserves...which doesn't reduce gas prices, it just makes the public think something is being done.

Meanwhile, even American oil companies will sell to the highest international bidder. Which is what they should do in a free market.

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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Mar 22, 2012
 

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Wake up USA wrote:
mybe he dont set the price,but he has a lot of control over the price of gas. The democrats blame bush for high gas prices and Obummer is in the same position. I would say he is to balme if Bush was to blame. How about that Pipeline to Nowhere?
Tell us how Bush showed control. Does this mean Bush allowed prices to rise, when he had the ability to stop if from rising?
hmmmmmm

Albuquerque, NM

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Mar 22, 2012
 

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then why was the lib dem smear machine in such an uproar in 2008 blaming bush for the hike then ? wasn't the data from this chart available then also ?
.
double standard much ?
hmmmmmm

Albuquerque, NM

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#6
Mar 22, 2012
 
the only govt action that can affect the price at the pump is a moratorium of frd and state govt taxes on refined gasoline. That would have an immediate price reduction of about $1.00 a gallon. But, don't hold your breath on that happening till the month before the general election as a vote ploy as that could have been put in effect months ago when it hit $3.00.

“Happiness comes through giving”

Since: Feb 08

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Mar 22, 2012
 

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hmmmmmm wrote:
the only govt action that can affect the price at the pump is a moratorium of frd and state govt taxes on refined gasoline. That would have an immediate price reduction of about $1.00 a gallon. But, don't hold your breath on that happening till the month before the general election as a vote ploy as that could have been put in effect months ago when it hit $3.00.
Great idea! I hope Obama is listening.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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Mar 22, 2012
 

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hmmmmmm wrote:
the only govt action that can affect the price at the pump is a moratorium of frd and state govt taxes on refined gasoline. That would have an immediate price reduction of about $1.00 a gallon. But, don't hold your breath on that happening till the month before the general election as a vote ploy as that could have been put in effect months ago when it hit $3.00.
Wrong.

A 100%(or 1000%) income tax on profit from oil futures or hedges would do the trick very nicely.

A tax holiday would only increase national & state debt, and have to be paid back later, with interest. That's Reaganism.
Yeah

Honolulu, HI

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Mar 22, 2012
 

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lol! Cons just want to nationalize gas and oil.

So much for their claim of capitalism!

“i hope we can change this!”

Since: Aug 08

usa

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Mar 22, 2012
 

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hmmmmmm wrote:
then why was the lib dem smear machine in such an uproar in 2008 blaming bush for the hike then ? wasn't the data from this chart available then also ?
.
double standard much ?
they have no recollection.

“i hope we can change this!”

Since: Aug 08

usa

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Mar 22, 2012
 

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Yeah wrote:
lol! Cons just want to nationalize gas and oil.
So much for their claim of capitalism!
the voices are back..aren't they.
Makes sense

Dearborn Heights, MI

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#12
Mar 22, 2012
 
What, he doesn't rule the world? There isn't a free market? LOL
Gas Tax Junkies

Sherrard, IL

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#13
Mar 22, 2012
 

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The States and Local Governments don't want a decrease in Gas Prices. In Fact the higher the price the better for them. They're like Crack Addicts and can't get enough into their coffers. Guess it makes them Gas Tax Junkies!

“no one told me”

Since: Dec 07

Denver

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Mar 22, 2012
 

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Lawrence Wolf wrote:
<quoted text>Great idea! I hope Obama is listening.
He's not, he's busy trying to fool idiots like you into believing he's actually pro oil, sadly he'll succeed, but on the brightside most of us know he's a lying sack of shit.

“no one told me”

Since: Dec 07

Denver

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Mar 22, 2012
 

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Yeah wrote:
lol! Cons just want to nationalize gas and oil.
So much for their claim of capitalism!
retarded asslikker, cons want no such thing.
U ND HLP

Meadville, PA

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Mar 22, 2012
 

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dont snow me wrote:
<quoted text>
He's not, he's busy trying to fool idiots like you into believing he's actually pro oil, sadly he'll succeed, but on the brightside most of us know he's a lying sack of shit.
Doesnt/didnt bush's family own oil manufacturing companies? he would have no vesting interest in the price of crude oil, would he?!
DENG

Zhenjiang, China

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Mar 22, 2012
 

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“Drill, Baby, Drill”

TRY DRILLING UNDER IOWA AS RUMORS HAVE PERSISTED FOR YEARS OF VAST POOLS OF OIL UNDERGROUND THERE.
jon

Eatontown, NJ

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#18
Mar 23, 2012
 
oil stocks and refiners are down while gasoline is up! total disconnect. i heard we use 360 million gallons a day. exxon wanted out of its downstream markets and was selling stations. iran and india or just goldman chicanory?
Les Claypool

Denver, CO

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#19
Mar 23, 2012
 
Supply/demand upset (i.e. Iran sanctions), increase demand in Asia, devaluation of the dollar (stimulus money printing), US export increase.
.
.
.
or it could just be Bush's fault again.

Since: Jul 07

Newport News, VA

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#20
Mar 23, 2012
 
A Congressional Research Service report shows 96 percent of increased oil production past 5 years occurred on non-federal lands the president doesn’t control, and that in 2011, production on federal land including offshore more than 3 miles out declined while production increases on non-federal land outpaced that decline. This means that under the newly-self-proclaimed hero for oil independence, oil production on the lands he controls has declined.

What can a President do? Well, he could drill in the Arctic National Wildlife Refuge, for starters. The ANWR consists of 19 million acres in Alaska. Of that land, which is owned by the government, only 2000 acres,(.0001%) of that land has been requested for drilling. The Energy Information Administration estimates that there are possibly 16 billion barrels of oil there, enough to free us from oil dependency on Saudi Arabia for up to three decades.

To be sure, President Obama is now making noises about supporting the Keystone XL pipeline. Now if he’d only focus on drilling for oil rather than merely moving it, we’d be in business.

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