Oil Slick Stuff

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nnuut said:
HISTORY:cool:
In Pictures: Bush Vs. Obama On Gas Prices

Rory Cooper
March 4, 2011 at 4:00 pm


The Effect of Obama's Energy Policies on Gas Prices
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Oh, that's hilarious.

Do you care to show the gap between 2003 and 2009? That would be interesting to see.

The highest price ever was when G.W. was in office- but somehow your Heritage Foundation graph conviently forgets to mention that part....

Oh, wait- maybe I have a copy of that here- showing when oil hit $149 a barrel under G.W. Bush. Let's not forget that small little fact, ok?

gas=72 month.jpg

Bottom line- short of a WAR--or some idiot move to attack Iran, NOTHING any President does has major impact on the price of oil. The price of a oil, and the price of a gallon of gasoline, is far more variable based on market conditions. The global economy and the value of the dollar affect the price at the pump far more than anything any President does.

But if you really want to see gasoline sky-rocket- just send some jet bombers over Iran and take out a few suspected nuclear sites. THEN you'll see how quickly we can get to $10 a gallon gasoline.
 
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It's speculation my friend.
:cool:
BushSays Drill, Drill, Drill — and Oil Drops $9!
By Larry Kudlow

Comments1




In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.
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Learn how to read and not spin..Your graph shows exactly what Norm said..Let me print again for you..

It all goes back to consumer confidence. Back in 2008 when gas prices were at it's peak George Bush opened up up Drilling in the GOM, Atlantic coast, pacific coast, Alaska and government owned property in the United States, the result was a huge drop in prices, speculators stopped speculating because they knew we had a REAL PLAN and prices continued to drop until the current Administration took control and stopped drilling on the East coast, West coast, GOM, Continental USA and most of Alaska. The result is what you have now, look it up, I get tired of repeating myself.
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  • It don't matter Norm...there will always be those that think you can pick up a turd from the clean end.
 
Incredible. Absolutely incredible revisionist history.

No, the price of oil DID NOT fall because G.W. Bush announced he would open up more drilling.

The price of oil plummeted because the ECONOMY PLUMMETED.

Perhaps you might recall what was taking place in the August- October 2008 time frame:

Destruction of the Wall Street entities, and Home Mortgage Giants Fannie and Freddie? Remember them?
fed.jpg


The S&P 500 tumbled from 1280 down to 809 in the period of July 30, 2008 to January 21, 2009, if you recall.

THAT is what drove the price of oil down. The economy tanked. Th price of oil falling had NOTHING to do with Bush saying he was going to open more areas to drilling. Are you kidding?
 
Here- another chart that shows what happened to our economy- the Bush summer-2008 mega-slide killed the economy and caused months and months of destruction:

6088811219_7177d24faa.jpg

You can see the U-turn in job destruction after President Obama got into office, and in March, 2008, was able to begin to implement economic policies that saved our economy.

And it's only been the last two years that the economy is recovering enough for positive job growth, and with that recovery, the price of oil is recovering as well.

Oil prices collapsed because the economy collapsed. Now that the economy is recovering, world-wide demand for gasoline, and the price of gasoline is going back up.

bushoil.jpg
 
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But hey- none of that matters today.

Today, West Texas Intermediate is at $109.62

.
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I have a feeling we're headed much higher in the not too distant future, if those advocating for some Iranian action get their way.
 
James48843 said:
Here- another chart that shows what happened to our economy- the Bush summer-2008 mega-slide killed the economy and caused months and months of destruction:

You can see the U-turn in job destruction after President Obama got into office, and in March, 2009, was able to begin to implement economic policies that saved our economy.

And it's only been the last two years that the economy is recovering enough for positive job growth, and with that recovery, the price of oil is recovering as well.

Oil prices collapsed because the economy collapsed. Now that the economy is recovering, world-wide demand for gasoline, and the price of gasoline is going back up.
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Quick question, which party had the majority in the Senate and the House during those years? As FWM likes to point out so much, how much control does the President have?
 
RealMoneyIssues said:
Try not to sound so gleeful, James...
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Not being gleeful. Just being realistic.

Here is some updates on Chinese demand-

demand.jpg

The good news is that U.S. consumption is down a tad, and European consumption is down too, as drivers move to better fuel efficiency vehicles.

The bad news is that lower US and European demand is offset by increased demand in China. Continued Chinese growth means demand will continue to be tight, and that will press prices higher.
 
Norm, seriously man: Drive these vermin from your thread. They will not stop until they have consumed all the thread's precious resources. They are parasitic and will not stop until the host is dead. For the love of god and country Norm, drive the vermin out of your thread. You know I'm right.
 
Minnow said:
Norm, seriously man: Drive these vermin from your thread. They will not stop until they have consumed all the thread's precious resources. They are parasitic and will not stop until the host is dead. For the love of god and country Norm, drive the vermin out of your thread. You know I'm right.
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:p

I am not Vermin, just curious...
 
Minnow said:
Norm, seriously man: Drive these vermin from your thread. They will not stop until they have consumed all the thread's precious resources. They are parasitic and will not stop until the host is dead. For the love of god and country Norm, drive the vermin out of your thread. You know I'm right.
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Jeezz! their running amok as I sleep. :eek:
 
RealMoneyIssues said:
Nope, we are use to these high prices. Now that they have consolidated at $3.50 for so long (doubled in 2 years), they will head up and will now probably level off around 4.25-4.50 for about a 6-9 months, then do it again for $5.50 by next spring...

It is going to be some great earnings quarters as energy stocks report fantastic earnings, causing their stocks to go up. Other transportation costs will be passed on (to the consumer, and like good sheep, pay it) and those stocks will go up. Add that to QE 2.5 and QE3 (probably going on now) and we have a huge up year for 2012 and 17k DJIA by the end of 2013.

It's written in the stars !!
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RMI do you remember this, I do? :laugh:
Your post this morning:
 
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