Another republican failure - oil prices

[midcan5]

Rising oil prices, another example of the incompetence of the current administration and its republican supply side (voodoo) economics? With deficits growing and a weakening dollar, it would seem time to abandon a party that will make America a third world nation.

"Here's the real issue: Ever since we ditched the gold standard, the government has found it far too easy to create cash, and we've become complacent, printing money like it's nobody's business. Gargantuan trade deficits and unbalanced budgets have left the value of the greenback withering away, compared to its global peers. That, my friends, can cost you some serious coin."

http://www.fool.com/investing/value/...ur-friend.aspx

"The dollar weakened throughout the day Wednesday, setting a number of new lows against the euro and attracting new buyers to the oil market. Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is weak. Many analysts believe the dollar’s decline is the reason crude futures have surged to new records in 12 of the past 13 sessions, despite the fact that crude supplies have risen 10.2 percent since early January."

http://www.scholarsandrogues.com/200...ices-going-up/

http://drdenny.livejournal.com/35347.html

"If you believe that the technological leaps that allowed dramatic finds of apparently large oil reserves in the Gulf of Mexico are going to keep your pump prices low before we elect our next president, you're overly optimistic. A Washington Post story says it'll be at least seven years before those wells could produce up to 11 percent of our domestic production. The United States produces 5.1 million barrels of crude a day; it imports 12.3 million barrels a day. Those Gulf strikes aren't going to amount to much any time soon."

[Yurt]

your dems promised us change...

DEMOCRATIC PROMISE #16: Lower Gasoline Prices
Promise: “Democrats have a plan to lower gas prices…join Democrats who are working to lower gas prices now.” – Then-Minority Leader Nancy Pelosi (D-CA), Press Release, April 19, 2006

Broken Promise: “The average price of gasoline hit $3.218 a gallon Monday, up a stunning 11.5 cents the past week and just half a penny shy of the inflation-adjusted record, the government reported. The average is almost certain this week to pass the inflation-adjusted high of $3.223, recorded in May 1981 by the Energy Information Administration.” – “Average Gasoline Price Nears 1981 Average,” USA Today, May 22, 2007. Democrats have been in power for six months, and gas prices have gone up, not down.

http://republicanleader.house.gov/br.../p_energy.html

[avatar4321]

Republican control of Congress for first six years of Bush administration - $.60 increase in gas

2 years of Democrat Control of Congress - $2.00

Yeah sure looks like a Republican failure here.

[midcan5]

Can you say deficit, deficits, waste, a sinking dollar! Read the pieces before sticking foot in mouth.

Reagan did the same but had the honor to raise taxes, Bush is simply a person who does the same wrong thing the next day and the next.

[Psychoblues]

They don't read at all, midcan. Their prez has demonstrated that reading is optional and they opt out. If it gets more comprehensive than 1st grade they just don't understand and they like it that way, don't you know?

Can you say deficit, deficits, waste, a sinking dollar! Read the pieces before sticking foot in mouth.

Reagan did the same but had the honor to raise taxes, Bush is simply a person who does the same wrong thing the next day and the next.

I don't dig raising taxes myself, but I at least understand federal encumbrance of national expense without shifting the debt to offshore leverage and subsequently to the responsibility of our great grandchildren to exonerate. The economic giants in the White House at this time don't have to worry about any of that and they exemplify their disregard of national security, national indebtedness and national will each time they put us further into the embraces of the financial markets that have no real interests other than worldwide political power.

It really could have been better, don't you think?

[PostmodernProphet]

if the Dems are so certain that curtailing our consumption of oil is going to solve the problem, why is it that our current drop in consumption has not resulted in reduced prices?.......

Recent data shows that U.S oil consumption has declined in the first quarter by nearly 475,000 barrels a day as compared to last year. This has been the biggest decline in oil’s demand in any quarter, ever since the fall in oil consumption in the fourth quarter of 2001 after the 9-11 attacks.

http://www.oilvoice.com/n/US_Oil_Con.../ff895835.aspx

that's five percent of our oil imports.....that ought to have had SOME kind of impact.....yet over the same period of time, the price of gasoline increased.....

[midcan5]

Funny the oil man is doing so poor a job even understanding the present situation. This clip is funny.

http://www.autobloggreen.com/2008/03...s-are-so-high/


What Has Caused Recent High Oil Prices?

"According to most news sources, high oil prices are a result of surging demand from China and India, and a curtailment of oil supply from Nigeria and Iraq. Since oil is denominated in dollars, the 40% decline in the dollar in the last six years has also put upward pressure on oil prices. (Source: BBC, Oil Price May Hit $200 a Barrel, May 7, 2008)"

http://useconomy.about.com/od/commod...gas_prices.htm

[theHawk]

Republican control of Congress for first six years of Bush administration - $.60 increase in gas

2 years of Democrat Control of Congress - $2.00

Yeah sure looks like a Republican failure here.

Funny how none of the libs will address that.

[Little-Acorn]

Another republican failure - oil prices

Republicans prevented us from drilling the huge reserves off our coasts?

Republicans prevented us from building any more refineries for thirty years?

Republicans put huge reserves of low-sulfur coal in Utah "off limits"?

Republicans imposed the scheme where different states require different blends of gasoline, for environmental purposes?

Republicans prevented us from building any more nuclear plants?

Republicans prevented..... Oh, why bother to point out facts to leftists desperate not to listen? They'll go on accusing Republicans of doing what they themselves have actually done, regardless.

Is there any point in paying attention to them any more?

[Pale Rider]

Another republican failure - oil prices

Republicans prevented us from drilling the huge reserves off our coasts?

Republicans prevented us from building any more refineries for thirty years?

Republicans put huge reserves of low-sulfur coal in Utah "off limits"?

Republicans imposed the scheme where different states require different blends of gasoline, for environmental purposes?

Republicans prevented us from building any more nuclear plants?

Republicans prevented..... Oh, why bother to point out facts to leftists desperate not to listen? They'll go on accusing Republicans of doing what they themselves have actually done, regardless.

Is there any point in paying attention to them any more?

I wish there wasn't. But I've never seen a bigger lot of lying, spinning, conniving shysters in my life.

But here's something you can do... sign the petition... http://debatepolicy.com/showthread.php?t=14751

[Little-Acorn]

I can see why the extreme leftists go after younger voters, the less educated, etc. Those voters are the ones who weren't around, or mostly weren't paying attention, when the leftists were doing all these things. So the leftists have a better chance of persuading them that it's the Republicans who are the bad guys, holding up progress, being racists etc.

[Little-Acorn]

Another republican failure - oil prices

Republicans prevented us from drilling the huge reserves off our coasts?

Republicans prevented us from building any more refineries for thirty years?

Republicans put huge reserves of low-sulfur coal in Utah "off limits"?

Republicans imposed the scheme where different states require different blends of gasoline, for environmental purposes?

Republicans prevented us from building any more nuclear plants?

Republicans prevented..... Oh, why bother to point out facts to leftists desperate not to listen? They'll go on accusing Republicans of doing what they themselves have actually done, regardless.

Is there any point in paying attention to them any more?

Wow, the board liberals sure got quiet in a hurry when they were reminded of these things. Haven't heard a peep from them since.

[midcan5]

Wow, the board liberals sure got quiet in a hurry when they were reminded of these things. Haven't heard a peep from them since.

Did you read the bold in the original post? Given those factors oil prices should be going down not up. One wonders if it isn't a very bad futures bubble combined of course, with greater demand and a weak dollar.

[Sitarro]

I have no doubt that George Soros has a lot to do with all of this...... that is what he does.

[PostmodernProphet]

I have no doubt that George Soros has a lot to do with all of this...... that is what he does.

whoa....now THAT is an interesting conspiracy theory.....