Yeah, you guys over in GB would be dancing in the streets if gas was $4 a gallon.

Now you know why we are blaming the government and current administration.

We don't want what you guys have....

 

Price of oil still going down.

Thanks President Obama, the Democrats, and David Cameron.


http://www.bloomberg.com/energy/

U.S., U.K. Discuss Tapping Oil Stocks

http://online.wsj.com/article/SB10001424052702304692804577283151083100924.html?mod=googlenews_wsj

 

America's dependence on automobile transportation is a national problem that makes us dependent on the whims of leaders of countries that do not like us, and that causes us to become involved in military adventures in the Mid East.

 

DL, American's love of the car, the ability to go where they want when they want, and have land between their houses is NOT a problem just because oil prices are high.

The problem is the oil prices and that obama doesn't want to do anything about it because he's trying to strangle the population into any other energy form. He'll lose this battle.

 

I thought you said Obama had no control over the cost of oil?

Why do you claim Obama is responsible when the price of oil goes down, but not responsible when the price goes up?

 

The price of oil is determined almost entirely by Saudi Arabia. They balance their need for profits vs the break point at which alternative energy will become profitable and /or consumption drops. This is somewhere in the $115-$130 per barrel range. When oil hit $150 per barrel in 2002 or so, the consumption dropped so much that profits declined and they lowered the price. The US President has no control over any of this. Current US production is so high and drilling so high that we are exporting oil. This has no effect on the international price since our totals are a smallish percentage of the whole. The Chinese are spending big bucks on improving the efficiency of solar panels (they have got the price low enough to crimp our production and totally put Indias panel out of business) and that will further put a limit on the upside price of oil. This entire business is a delicate balancing act and not a function of US politics or how you may feel about Obama (remember that in 2004 Gingrich in defense of Bush declared that the president has no power to affect the cost of oil in any way).

 

I heard about it more tonight out drinking...

9 billion dollar project....I do think it is real....

 

What you have to realise is that over here fuel duty is 60-64% of the price of a litre, and a litre of fuel cost me £1.35 last week.

So at £1.35 I paid £0.83 in duty.

Then I have to pay VAT on the cost of the fuel and the duty.

So VAT on £1,35 is £.029

Therefore the government is taking £1.12 of tax and duty out of my £1.35, leaving the oil company and the petrol station £0.23 to make a profit.

I heard that the petrol station only makes around £0.03 for every litre sold so that leaves the oil company £0.20 to refine the oil and make a profit.

The biggest winner here is the government, but if they dropped the duty then they would need to make up the shortfall of X billion somewhere else which could mean a rise in VAT, income tax, or the budgets of some public departments would have to drop, so the Dept of Health could lose money, or the MoD, or the UK Border Angency, or the police.

It is a fucker and I don't like the government fucking robbing me every time I put petrol in my car, but I do not know where to make savings to redress the situation. Unless of course we pull our troops out of Afghan, don't buy the trident nukes.

 

That's a flat out lie and you know it. The Obama Administration has actually been pro-oil and pro-drilling but not so much allowing record blowouts.

Didn't you just contradict yourself. You blamed President Obama for the increase in oil prices. But he's not to be thanked if the price of oil goes down?

I didn't say anyone was responsible. What I said is thanks to the political maneuvering on the part of President Obama, the Democrats, and now UK Prime Minister David Cameron (which you tried to claim President Obama had a terrible relationship with) they are brilliantly keeping the speculators at bay and causing the price of oil to stabilize or decrease by simply issuing a series of mixed messages.

Which if you weren't a brainwashed parrot and actually looked at what I posted you would know.

Because after Ruter's announced Cameron and Obama had reached an agreement to tap the stratigic reserves the price of oil dropped $4 per barrel.

Followed by this statement from the White House:

U.S.: No Deal to Release Oil Reserves

This is a really good post but I wanted to highlight just a couple things I know are not true. Saudi Arabia and US oil companies go back way further than OPEC. In fact the Bush Family and the Saudis go back to the 1950's. OPEC was formed as a protest against Israel. And had an oil embargo that actually lasted all of two weeks.

There is no real Saudi Arabia, there is no OPEC, not really. Its the same good ol' boy oil monopoly that's existed for more than 100 years and it just went global.

On the record price of oil that was the first time in history the speculators took off with the price of oil and surpassed the world oil monopoly. In fact OPEC even increased production to try and bring the prices back down but since the speculators were already trading 20% more oil than actually existed it didn't work.

Then the Rip off by wall street and the bankers and insurers became apparent, the world economy collapsed and then it was pay back time on the speculators who took a bath when the price of oil dropped.

But everyone has to notice this. The oil companies because they actually still own the refineries make more money when the price of oil drops because the price of gasoline and diesel never drop by the same percentages.

 

I don't doubt it. But are you sure its for export?

I haven't bothered to post them but I've seen a couple stories that between Harry Reid and T. Boone Pickens they've got the fix in for converting all our long and short haul diesels to LNG.

Which is actually a great idea. Just about 60% of everything we buy is hauled by trucks at some point.

 

The stagflation of the 1970s was caused by the OPEC oil embargo that followed the Yom Kipper war on 1973, and the Iranian Revolution of 1979. These were transitory causes, and the price of petroleum began to decline in 1982.

http://www.inflationdata.com/inflation/Inflation_Rate/Historical_Oil_Prices_Table.asp

The present increase is caused by depletion of known oil reserves, and demand pull inflation because more people in China and India are buying cars. The price will fluctuate, but it will continue to fluctuate upward. The only reason the price declined after 2008 was the Great Recession. As the economy improves, more people will buy gasoline, so the price will continue to rise.

If my analysis is incorrect in any particular, I will wait for stumbler to point it out. He knows more about the petroleum industry than anyone else here.

 

it is for export...and Obama is still blocking any help for converting the trucks....I know I get e-mails from Boone once a week...

 

Boone Pickens boone@pickensplan.com via auth.ccsend.com

Mar 12 (3 days ago)

​

​

to me

[FONT=verdana,arial]Having trouble viewing this email? Click here​

[/FONT]​

​

Army: ​

If there was ever a time for us to take action in support of the NAT GAS Act, it is NOW. ​

Can I count on you to call your two U.S. Senators TODAY and urge them to support the natural gas amendment when it is offered, likely tomorrow? And report back by replying to this email to let me know what they say. ​

The U.S. Senate is currently debating reauthorization of the nation's highway program. The NAT GAS Act is being offered as an amendment (#1782) by a bipartisan group of Senators: Robert Menendez (D-NJ), Richard Burr (R-NC) and Majority Leader Harry Reid (D-NV). ​

If you need to look up who your U.S. Senators are, you can find that list here. You can contact them by calling the U.S. Capitol switchboard at 202-224-3121 and asking to be connected to their offices directly. ​

Please make your phone calls today and let's push our Senators in Washington to finally support a plan to move us toward reducing the stranglehold OPEC has on our economic and national security. This amendment will enable us to start to gaining control over our cost of transportation fuels. ​

A few key talking points: ​

• The legislation is fully paid for by a temporary user fee on natural gas used as a vehicle fuel.
• By extending tax credits for natural gas vehicles and refueling infrastructure for just five years, this legislation can jump start an industry and make a cleaner, domestic, less expensive transportation fuel more widely available.
• North America's natural gas discoveries have more than doubled over the past four years, meaning that, at current consumption rates, this resource could supply current consumption for over 100 years.
• Importantly, natural gas vehicles are the only off-the-shelf technology available today to replace diesel in medium- and heavy-duty applications.
• Natural gas vehicles improve local air quality. According to the EPA, natural gas as a vehicle fuel has very low emissions of ozone-forming hydrocarbons, toxics, carbon monoxide and greenhouse gases.

Call your U.S. Senators today. Thank you.

-Boone​

 

Is this something to do with the Cod wars between Iceland and the UK in the seventies, did it spread to the Med? Damn I knew the price of a fish supper rocketed in the seventies, now I know why.:excited:

The word you were looking for is kippur, as in Yom Kippur or Day of Atonement when Jews try to justify all the sins of the past year with their god, like catholic confession but held once a year,

 

Of course you are right.

 

FLASHBACK: Fox News On Gas Prices In 2008

Following GOP strategy, Fox News is again blaming the Obama Administration for rising gas prices -- a claim that has been repeatedly debunked by energy analysts. But back in the summer of 2008 when the average U.S. gasoline price hit a record high of $4.11, Fox said that "no President has the power to increase or to lower gas prices" and the only way to reduce our vulnerability to gas price spikes is to use less oil.
http://www.youtube.com/watch?feature=player_embedded&v=UzEnKdBAb_o

 

Fox News is still saying that the president can't increase or decrease the gas prices. The same way he can't increase or decrease the price of gold. BUT his policies can influence the pricing of both. This is where Obama fails over and over again. It's understandable that you want to deflect his ruinous policies to anyone or anything else.

The United States economy has been growing at its slowest rate since the Great Depression DUE TO OBAMA POLICIES.

In his attempt to fix things using a 'scalpel' (his example) he's starving the nation from growth at every cost. The economic growth we do have amounts to no more than adding one nail each day in your quest to build a house.

 

I remember the days when all the libs were railing that it was Bush taking care of his oil buddies. LOL.

 

How do you get that President Obama is blocking this conversion?


According to this story its President Obama pushing for the conversion but it died in the senate due to heavy opposition from conservative groups.

http://thehill.com/blogs/e2-wire/e2-wire/215779-natural-gas-vehicles-plan-sputters-in-senate

 

One, of many, examples of how Obama has the ability to influence the market:

Obama mulls tapping oil reserves to ease gas prices

Houston Business Journal

Date: Friday, March 16, 2012, 8:28am CDT

Experts say a move by President Obama to tap into the country's strategic oil reserves to try to stifle rising gasoline prices may not have the same effect as in previous years.
On March 15, prices fell by as much as $3 a barrel after Reuters reported that Britain and the U.S. were working on a deal to release stockpiles.





​

Even Obama knows he's got influence.