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Monday, March 05, 2012
USA Today Picks Up The Mantle That Obama’s Not At Fault For Gas
Anyhow
What can U.S. do to halt rising gas prices? Not much
Rising gas prices are always a bad thing for an incumbent president, especially one heading into a tough re-election battle.
But President Obama admitted in a speech in Miami recently that there’s not all that much he can do to blunt the impact of prices, which some analysts think could be heading toward $5 per gallon nationwide this summer.
“The amount of oil that we drill at home doesn’t set the price of gas by itself,” Obama said. “The oil market is global. Oil is bought and sold in a world market. And just like last year, the single biggest thing that’s causing the price of oil to spike right now is instability in the Middle East— this time, around Iran. When uncertainty increases, speculative trading on Wall Street increases, and that drives prices up even more.”
See, when Obama’s President, it’s always Someone/thing Else’s Fault. And, let’s be honest, Obama can only have so much of an effect, there are market forces that happen that are out of his control. That wasn’t the case when Bush was POTUS.
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6 comments:
It is Mickey Mouse's fault, anybodies fault but Obama. I am so tired of Obama blaming anybody but himself for all that is happening with the economy. For God's sakes he has been in office for three years. If he had not been President our economy would have rebounded by now. But all of his stupid actions has remained to keep us down. That wss his agenda to ruin our country and start over with total government control. He sides with the environmentalist just so he can kill jobs and stop or not drill for oil in the USA. Then he gives billions of our taxpayers money to other countries to drill for oil that we have to turn around and buy from them. He comes up with slush funds that he calls stimulus to pay back people that got him elected. He gives billions of our money to green companies going bankrupt. Oh yeah and they just happened to be owned by his supporters or Pelosi's brother in law. Come on be a man and take responsibility for your own actions. Not even mentioning 19 vacations and golf trips, and parties at the white house with entertainers like Paul McCartney and Mick Jagger.
It is only world market fault when you make us dependant on world market butthead.. Let us drill our own resources and let the world markey affect the others.
Takes areal wizard to figure that out huh?
It was not Bush's fault (according to his water-carriers) so its not Obama's either.
Get the specualtors out of the game, explain to the American people in simple terms that the greatest foreign sources of our oil are Canada and Mexico, and then have a real discussion. We are chasing boogymen and taking our eye off the ball.
If the Republican party was serious about doing something about our dependance on foreign oil, they would have started this process during the Reagan years, and we would be 30 years down the road on fixing the issue (likewise, the Dems could have insituted change during the Clinton years and we'd be 20 years toward a change.)
This is a systematic problem rooted in profits (that the rest of us will never see) and politics
(that the rest of us are being lied to about.)
So I suppose that if McCain had become President gas wouldn't cost so much. Get real! If the U.S. drilled and drilled and drilled the resultant oil would still be sold on the World Market and the price would be the same. Why would you expect it to cost any less?
There is also the fact that the only reason we can extract oil from shale is because the price of oil is so high. If it drops, oil shale becomes a non-starter because there would be no profit in it.
Do away with futures. If you want to buy oil, take delivery on it the same day. Why does the cost of gas that was manufactured yesterday have it's cost based on what oil might cost 6 months from now. It's not this President's fault of any previous or future President's fault. The price is driven by the greed of people that make entirely too much money for doing very little.
Futures dealers buy something today for X and sell it tomorrow for XYZ. They haven't produced anything, they haven't touched anything, all they have done is bought and sold and top it off they claim it as capitol gains and pay a low tax rate on the money they do make. Wall Street and the like will be the death of this Country. They tried to sell us out a few years ago and they will continue to try until they do. They are the robber barons of the 21st centry.
10:29, I see you took your dum dum pills this morning.
The US is already one of the top producers in the world, yet we still have to import more oil than anyone else in the world. Been this way for decades through multiple admin. Yet you still think we can just drill our way out huh?
The problem is as much that the dollar has been depreciated so much by our insane money printing.If our debt ratios were lower the price of oil would be lower. This is economics 101 folks.
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