http://mediamatters.org/blog/20120305000...

Oh Kio, so sad... What do we want Obama to do? Why we want him to get out of the way, of course. 25+% of our oil comes from Canada, around 12-15% from the Saudis, 10-12% from Mexico. North American production lowers costs, employs people, puts dollars into local economies and increases taxable incomes. Do you want us to be dependent on the security of the Straights of Hormuz as a measure of whether or not you drive to the grocery store today?

I really don't know what some of you want Obama to do? If you don't think diplomacy is worth while, then do you support an Iranian strike-war? Of course that action will SKY ROCKET oil prices. The US has very little leverage in this. We now rely so heavily on foreign oil now, that these camel jockeys have us by the balls, and they know it. Even if we built 20 Keystone pipelines, we'd still be relying big time on Middle east sources for our oil addiction.

Poly -- there are also significant regulations coming for the refining operations that will have an even greater impact. We are headed for the JImmy Carter days of gas rationing and the Obama $10 a gallon gas to put us on par with the EU. The Obama admin has made it very clear thats what they want and if he remains in office another 4 yrs, thats what we will have.

Interesting dialogue here and some familiar names as well. Permit me to enter the discussion with a geo-political comment. If the US continues to attempt detente with Iran, oil supplies will ultimately be disrupted by Iranian or Israeli military action, resulting in supply issues for oil transiting the Straights of Hormuz. The Saudis are already p/o'ed over Barry's attempts to kow-tow over the Syrian/Iranian/Russian situation-largely because it is so obvious that the Admin has no clue about what to do. Couple that to a refusal to issue drilling permits in this country and you pretty much have $5 gas, sooner than later.

Good postings investa, and lovemycountry.
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I warned of the problems coming at the beginning of this year, because you had oil prices increasing as the dollar strengthened! Something that is very counter to how normal markets work. Everyone knows the dollar is on long term course of devaluation (central planners will openly admit this now). When oil is going up during the short term dollar up ticks, you know there are big problems to come with commodity prices when the dollar resonates back to it's normal declining course..
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Bernancki, Geithener and our financial engineers never seem to grasp this concept. All their grandeous ideas of 'recovering' the economy via mass monetary easing will always be quickly thwarted by the explosion of commodity prices that are a direct result of their easy money policies. The housing bubble was the main cause of the 2008 melt down, but do not kid yourself a minute; as soon as oil shot up to $150 a barrel, that just added fuel to the meltdown. The fastest way to stall our economy is increased commodity prices. Something that will always be a direct consequence of dollar devaluation.

"What was the highest under Bush? $2.39 and the left went nuts.
http://www.buzzfeed.com/andrewkaczynski/... @ 3:01pm 2-24

Now the truth will be posted, you are a speaker of untruths, kaysbrew. Do they send you to classes to teach you that?

"July 7, 2008—Crude oil prices settled-in at a new record of $147 per barrel. The U.S. average price for regular gasoline climbs to an all-time high of $4.11 per gallon. Road trip style vacations are put on hold for many summer travelers"

http://www.treehugger.com/corporate-resp...

Don't you remember, kays? The US economy virtually collapsed, GM closed the local GM plant. The politicians arranged to loot the wealth of future generations by giving taxpayer funded bailouts to those who caused the problems with greed and avarice. Obscene bonuses were given to these people who ran these companies, sometimes over a 100 million dollars to a single executive, many in the 30 to 50 million dollar range.

Mouse --- I can give you facts -- but you would just ignore them
Ezoner you rpovide conservative talking points and almost no specific facts, but you certainly can keep on trying. I would refer to some of the posters who actually invest in our beloved free-market and you may realize that American political ideology doesnt controll global commodity markets. Investa is 100% correct in the devaluation of currency which has been happening for decades!!

Vato- Nice poke, Id bet my house against yours and Ill bet youd be surprised about how much my trailer might outvalue yours. Thats another one for another day, you got hydroulics in yours???

Best thing is though is that I didnt see any takers. Because you know dang well the group of circus clowns running right now would lose to a real circus clown. This is the worst group of cadidates I have ever seen(including the current POTUS) America has no hope.

Kay are you serious? The highest gas prices under Bush are still the record, $4.21 national average in June of 2008!! I swear some of you people do absolutely NO research and think no one will call you on your BS!!
The Price dropped so significantly to the 1.78 a gallon when Bush left office BC of the financial meltdown, wake up!!
http://zfacts.com/p/35.html

What was the highest under Bush? $2.39 and the left went nuts.
http://www.buzzfeed.com/andrewkaczynski/...

How dare Bush control gas prices! We could be looking at over $3.00.. Now with Obama? $4, $5, $6 dollars per gallon, no big deal.

I hope that the gasoline prices don't get as high as when Bush was president.

Gas Prices? Gas Prices? I don't care about stinkin gas prices. I've been using our fearless leaders suggestions-my car has solar panels on the roof, a windmill mounted on the trunk, I've got algae growing in the cup holders and my tires are pumped up to 100psi.
Life is good.

Mouse --- I can give you facts -- but you would just ignore them... Wind energy has been around for hundreds of years, converting it to electricity is relatively new and expensive when compared to fossil fuels. Solar was better from and expense perspective but stil 5-10 times per kwh over any fossil fuel. SO -- if you are Obama -- what do you want to do if you are unable to lower the cost of alt energy sources??? You implement policies - foreign and domestic that increase the cost of fossil fuels.

Obama takes credit for the increased oil production, yet most of that comes from Bush policies as it takes years for the oil to move into the supply chain. Obama policies are redeucing oil supplies, creating unrest in oil supply nations, and creating US currency devaluation. Obama owns this gas price issue and the economic effects driven by it.

Again -- I do not like any of the current candidates on the repub side. But Obama is a disaster thtat leads from behind and has no concept of economic cause and effect.

Nothing to do with Obama. Central banks have increased global liquidity by $2 trillion in the last few months. Gas prices are going up the same reason food, clothing, and all commodities are going up - currency devaluation.

buzzfeed clip-Of course Obama thinks as President he’ll have control over the gas prices. It’s fair to put blame on him and his anti-oil policies.

kiowamohican is right on target - but the ROOT of the problem is very important too. To put it simply, the US economy is like a flower. Bernanke and Obama are hell-bent on watering the flower part and allowing the roots to dry up. We are the roots. The flower won't survive unless they start watering us, the roots, Obama's loyal subjects.

http://www.buzzfeed.com/buzzfeedpolitics...

One more oldie but a goodie from Obama

http://www.buzzfeed.com/andrewkaczynski/...

It was all Bush's fault until it's not Obama's fault.

The wild card, which could be Obama's fall for re-election, would be if prices exploded to $5.00 or better come November. Even though it would hardly be his fault, all blame would be put on him, as EVERY thing now a days is with the President. Even when Bush was in office, you had people blaming him for the explosions of world wide hurricanes. As he controlled weather patterns somehow.
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No doubt there will be some political strategy to push down prices before November. Perhaps the plan is for Israel to bomb Iran (of course we claim we know nothing of the hit). It pulls us into the conflict..We Shock and Awe those darn evil doers, and stabilize the speculative market. The Iran 'threat' to the US has ZERO to do with nukes. Pakistan and N Korea have nukes, and we don't blink an eye at that. This whole ruse of Iran is about OIL market stability. Just as both wars with Iraq were.

Mouse - Nobody is taking my car or anyone else's car away. Stop being so paranoid about everything. Good Lord. Like I said, it's a simple concept. Supply and demand and they have us by the gonads. Our own Government is allowing it.

Fear -- actually you are only partially correct. The free market sets the price, however, the actions by this administration have made the problem significantly worse. If what you were true, oil demand globally is flat or declininig as a result of the global economic downturn. Obamas fiscal policies, have eroded the value of the dollar, oil futures are higher based upon his offshore drilling policies, additional Obama admin regulations have added to energy operating costs, his foreign policy with Iran has aided to create undertainty in the oil markets, and he refuses to create both jobs and increased supply (which allows him to fight supply restriction from overseas). His policies in general have as a minimum made the situation worse. Its people like you that either want to over simplify or ignore the impact of admin decisions that refuse to see whats happening. Would a repub do better -- I dont know, but I certainly can see this guy doesnt have a clue.

Ezoner trying to convince you with a litany of facts is getting old, because you just continue to ignoree them, so I will tell you flat out YOU ARE WRONG, oil prices are not the fault of the president. Its NOT arguable. We all understand that you hate Obama no matter what. You hate him doing better against terror that GWB ever did, getting US out of war and not starting any more of them. But the FACTS remain, no matter how much people like you and NEWT and Santorum(google his name) and Mittens like to repeat it the free market sets the price globally, not the president of any nation. Domestic production and refining of oil to gas is at higher levels than any time during the Bush presidency. So while you say POLCIES are the reasons foriegn and domestic for prices being higher you fail to point to anything specific.
Like it or not Obama is getting re-elected, Id bet my house on it!

Kay and Mouse -- glad to see you finally agree. The reality is that Obama policies, both foreign and domestic, have created the condition of increasing prices, not just gas. The dollar has lost ground against other currencies, we have no energy plan (except investing in old outdated technology). Wind is about as old a technology gets. Solar is far to expensive. Autos need gas as there is no current alternative fuelvehicles that provide the same power, reliability and flexibility. We really have no other choice but to increase domestic AND our OWN foreign production sources. Obama has made an already challenging position completely untennable

it's all Obama's fault!

It sounds more like you are 'chasing' opportunities kiowa, as opposed to letting them 'present themselves'.

billnewbie:
Your post would have merit, if I truly was behind the scenes, and had real influence in the nations decisions. I'm a complete nobody. What I say or do on principal will mean absolutely NOTHING in the grand scheme of things. If I worked on the hill, or for the DOD, that would be one thing. I am principally against war, but that will not change the inevitable. If you don't like $$$, more power to you. I will gladly cash in on opportunities that present them self to me.

I've posted same information a bunch of times before baegucb. It doesn't matter. Facts never matter. It's all Obama's fault. Snow's on the way tomorrow...it's Obama's fault, it's the liberal's fault. The vast echo chamber that the right wing, quasi-libertarian and ideologically challenged reside in must be a lonely place.

read it and weep: http://seattletimes.nwsource.com/html/na...

Obama wants all to drive volts and mini coopers, while he gets in his caravan of cadalacs and flys airforce one all over the globe. Its time for someone in the whitehouse that actually understands what its like to be in the middle class. Its certainly not Obama. Like I said -- his energy theology supports his world view of the degredation of American wealth.

Opinionsforfree
The goverement does not control the price of fuel world events do. Most educated people know that. (You'd think the media knew that when Bush was President) I would say Stock up on fuel or buy a more fuel efficient car. Or better yet switch to an alternative fuel its only going to get worse.(as long as Obama is in office, yea it will)

The goverement does not control the price of fuel world events do. Most educated people know that. I would say Stock up on fuel or buy a more fuel efficient car. Or better yet switch to an alternative fuel its only going to get worse.

http://crooksandliars.com/karoli/rove-an...

"Barely concealed glee..."

Billnewbie -- Not sure I understand your arguement --- are you saying that the reason to make oil production a government institution is becuase you no longer have pressure to make a profit on the oil and gas produced???? If thats your arguement -- you lack a complete understanding of supply and demand and when I read those statements -- I got think you must be Forest Gump..

I saw today that Woodman's has raised it's price to $3.49 a gallon. They seem to be an accurate harbinger of prices to come. Other stations have raised it to $3.39. It's probably already too late to get any gas at the $3.31 it was yesterday. But you probably can get it at $3.39 for at least today anyway.

"When you wager on any out come, your personal feelings, and beliefs are irrelevant".

I can't disagree with that more, Kiowamohican. Standing on principles is always more important than making money, in my opinion. Many who have taken your attitude have worked behind the scenes trying to inflame a conflict into war so they can sell arms to both sides making a bundle, all the while ringing their hands in pious indignation over how some folks can't seem to avoid going to war. While I'm sure you are not one of them, I find it hard to believe that while you've invested to profit should war occur, you really hope and pray it doesn't. After seeing many of your posts, it's clear to me that money is very important to you. And after your last post it's clear that money means more to you than principles.

Panama -- they are the same -- Obamas foreign policy is a lack of one or a follow approach. He does not lead -- his does not take proactive positions unless it may have an impact on his polling results with the far left. Its not just one thing -- Its the printing of money, its his foreign policy, its his energy policy (theology). Obama is more concerned with fringe groups and their position than his is with the economic impact on the American working public. They -- far left dems, need the poor and more of them such that he can make promises to care for them, that ensures a solid voting base. He needs people dependent upon government. This guy and his cohorts are he worst thing to ever happen to this country. The problem I see, is I could bring myself to vote for any of the current poll leading repubs.

Nationalization is a great concept if your a Trotskyite. Those who promote such an idea don't know much of anything about market places, because it would do ZERO to bring down oil prices. Countries that get gasoline dirt cheap (Venezuela as an example, which is a nationalized country) get that because the governmnet totally subsidizes it. Just because the governmnet runs it does not change market fundamentals. The governmnet would have to buy it on the world exchanges, just like the oil companies currently do. Nationalization does not change basic supply and demand concepts. MOST importantly it does not change the COLLAPSE of the US $$$, which is the true driver of upward commodity prices. The continued fall of the dollar will be thee biggest driver of ALL commodity prices upward over the years to come.
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TCB and others asked for solutions..
Mine is the Larry Kudlow concept of KING DOLLAR.
Don't borrow, spend, create, and print endless amounts of liquidity, that kill's off king dollar. Because when king dollar becomes more and more worthless via easy monetary policy, ALL commodity prices that are traded in US dollars consequently increase. Those who think this is a oil company conspiracy, perhaps you wish to enlighten us to why all other commodities are also exploding in price (Corn, wheat, rice, gold, copper,....)? Is that all one big conspiracy as well? Or could the REAL more logical issue be THE DOLLAR? Where all these exploding prices are a direct result of many years of BAD monetary policy, that are killing off king dollar.

ill tell ya who the blame for this is!its that damn rock and roll and that rap music!!!they should have fixed this is the 60s,now gas prices are over the top,and i bet that damn charlie brown and the peanuts had something to do with it!!!!!ban them all i say!bhahahahahahahaha

MadCityDad; Sorry, I forgot the oil industries are the Lib/Dems ONLY evil job creators and HUGE government tax cow! GM, Chrysler, DEPEND on the taxpayers to survive! GE paid NO taxes last year! Apple has taken over Exxon as the largest holder of PROFITS!

Bond, do you know the difference between a company and an entire industry? I guess not.

to answer the question, no just the indusrties that would bring the country to a grinding halt. Even GWB called the oil supply a matter of national security.

madcitydad; Shall we nationalize EVERY Business that makes a profit? Apple, GM, Ford, Chrysler, Boeing, Caterpillar, GE, Amazon. Ebay etc......

"So the only cause in his (Obama's) case is a lack of forgeign policy and his energy theology."
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Make up your mind Ezoner. Before you said it was BECAUSE of Obama's foreign policy - now you say its a LACK of foreign policy. Oh and Obama has an "Energy theology? Really? You seem to be throwing around crap hoping that something sticks. Well you're in good company. The Republican candidates for President are using the same strategy.

*Keystone pipeline? Wrong!! Maybe oh maybe this has a little to do with speculation? WHatever happens to you free-marketeers? Blaming Obama because you hate him doesn't make your argument a correct one!! this is nothing more than OPEC and speculation. *

Actually, no. The Previous President moved to open up more offshore drilling and the price IMMEDIATELY moved downwards [2008]--which is why the price of gasoline was under 2 dollars when the current one was inaugurated. You'll see no such action to add supply from this administration as the DNC wants gas to be 8 bucks a gallon so Americans will be forced to purchase electric vehicles, etc.

Don't blame me, I voted for Kodos.

Ezoner, your proposition doesn't make economic sense because gas prices didn't peak until well after Bush/Cheney started those wars and gas prices then started declining immediately after he left office and well prior to Obama ratcheting down the Bush/Cheney unnecessary war in Iraq.

Government IS the solution to all of our problems.

Just ask every business start-up, expansion and move in Janesville, Rock County and the State of Wisconsin. Ask the oil industry. Ask the health care industry. Ask the farm industry. Without government, they would all fail.

madcity,

Govt is the only solution! Obama believes it so does Maddad!

But focus like a laser beam on the oil industry it is a highly complex, highly compartmentalized process involving exploration, drilling, production, refining and distribution, each of which is a mini-industry in itself. If the politicians in Washington get their hands on this, they will need to at least double the number of government employees in order to run this business Im sure the 10% gross margins will support this! If this were to happen-we'd all pray that the price of 1 gallon of gas is only $5.00....but atleast we could all buy a volt-maybe our govt overlords would require it....

Lets remember that part of the reason that fuel prices were higher with GWB in office was that we were fighting 2 wars and the fuel/energy required to support the wars. Obama doesnt have that excuse. Iraq is over, and Afganistan forces have been drawn down. So the only cause in his case is a lack of forgeign policy and his energy theology.

I use a tank of gas to get to work every week. Does the price hurt? Yes but I have to buyit anyway. What I laugh at is the people who complaign about the price of gas will still pay over $1 for 12 ounces of water.

madcity,

in your utopia where business is nationalized and the profit motive removed-who works? Who pays for your largesse?

Signed,

From each according to his ability to each according to his needs...

Sticks and stones. You can call me a socialist, communist (knowing that most people who throw those terms around don't really know what either is or that there is a difference between the two) or whatever ist you want; I have more than enough self esteem than to be damaged by such nonsense. The bottom line is that if you want cheaper gas, you have to make it so personal (or corporate) profit is not part of the equation. As long as you have someone making money off the speculation, sale and resale of oil people will get gouged.
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Once again tcb misses the point. Here in America we have the infrastructure to refine oil; your comment (once again) is moot.

mad city,

time to nationlize the oil industry? Take out the profit motive? Just going to confiscate property? How noble? Under what law-lets say you are queen for a day would you do this?

How well is this working in Venezuela or Iran? Iran is the 4th largest global producer of oil and they cannot even refine their own oil!!!!!!

gonfo , not really sure what you are talking about. I dislike both politicians for different reasons and could never cast a ballot for either one. So you'll have to enlighten me to exactly what you are talking about, then I would be happy to respond.
My true colors? I bleed Green and Gold , or red and white , depending on the time of the year.

smallBIZowner: One definition of intelligence is the ability to logically extrapolate consequences from current conditions. Being predictive is what science is all about. No smoke, no mirrors.

Wow Fear, does your same arguement that blaming Obama because you hate him also work for Walker? I'm sure not in your head but you see where I'm going with this. Do as I say and not as I do! Your true colors are shinning brightly!

Thinking outside the box kiowa is not what people should normally be doing. Most problems, and their solutions, are right here inside the box. So far as predicting the future goes, well fool-on-the-hill, I don't think kiowa or Nostradamus know the future as well as you think. Their smoke and mirrors are impressive, but the future is not for us to see.

Not to shatter anyone's deeply held political beliefs with facts... (Would I do that? Really!?!) ;-)

The highest price I have ever paid for a gallon of gas was $3.999 in June 2008, when George Bush was president. I continued paying over $3/gal until just days after Barack Obama was elected, when the price dropped to only $2.049. The price dropped even further in December, to $1.619. Days after his inauguration in January, 2009, I paid $1.899 per gallon. (I paid $1.979 when President Bush was re-inaugurated in 2005.)

As for "this time of year blah blah media hype straw man BS...", on March 9, 2008 when G.W. Bush was president, I paid $3.349, which just happens to be the EXACT same price I paid last week for the exact same octane gas from the exact same oil company. Oh, that rascally reality!

I'll bet someone could correlate the price of gas to just about anything if they wanted to believe the correlation badly enough. Mass media says, "Quick, look over there!" And, while everyone is looking in the wrong direction... Well, almost everyone. Personally, I tend to favor Kiowamohican's analyses because he earns his living predicting the future. If he didn't know what he was talking about, he would be living in a cardboard box right now.

poobah:
Your chart is rather partisan. Some data points are improving, but when you inject TRILLIONS into the economy, of borrowed and printed $$'s, I would sure as hell hope things improve somewhat! I mean, anyone can fix their own personal living situation if they just start paying everything on a credit card. The problems arise later on down the road. Kicking the can down the road, is a tired out expression, but very accurate. The unemployment data is also very much screwed. As myself, and others have posted, the true measure should be the labor force participation rate. A chart that will blow most away; as it's fallen off a cliff.
http://www.zerohedge.com/news/record-12-...

Obama is likely to win come Nov, I agree, but I would hardly say he (or more accurately, Geithner, and Bernancki) have done this great work on the economy.

SarahB:
Despite what some believe, I do not live underground, in a bunker, off the grid, with years of canned good supplies, haha. Most have probably seen me in the community at some point, as I am outdoors a lot.
I just think people should really be paying attention to what is REALLY going on. People should think outside the box for a change. The news you get is often not just sheer coincidence. If people are not smelling a BIG TIME rat here with Iran, I have no clue what they are looking at? We have seen this game by the military industrial complex just 8 short years ago, with Iraq. Create this bogus enemy, and make them out to be the next Hitler, that is somehow going to take over the world if we don't move fast. You hand feed the press enough garbage,...bogus intel, violating sanctions, and what not; all as a ruse to prepare for what they secretly WANT, which is WAR. Don't kid yourself, the MIC needs it's MEGA corporate welfare continued via all these threats, and wars. We spend more in 'defense' then the next 10 countries behind us, combined. Only way to keep this mega defense welfare going is PERPETUAL WAR, even though they will never admit to that.

"missscarlet and justbrice-RE: Fear and kiowa. I am accused almost daily of being " two people" when I am not. If you read posts all the time, you can usually spot the one's who are. Are you? Maybe."
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Nope, I make my own postings exclusively. If you read enough of my comments, I have disagreed with something from just about everyone at some time, including those you site.

"Kiowamohican, you seem to be a walking paradox. You decry the wars with Iraq and Afghanistan and any coming war with Iran, yet you are investing to make money on it should it occur. Some folks might be puzzled by that. You take what seems to be a pricipled stance against war yet you are eager to profit from it."
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Billnewbie:
I am against war, but not so naive to see the OBVIOUS.
Me not wanting it will have ZERO effect on what the reality of the situation is. When you wager on any out come, your personal feelings, and beliefs are irrelevant. I loved the Giants when they played the Packers in this years playoffs. I am a big packer fan. Just because I wanted them to win, did not change the reality of the situation. I am totally against war, but this should be pretty transparent that it's one big set up to butter up America for another war against evil.

uh oh MCDget ready for the socialist remarks. I couldn't agree more, but we have a better chance of getting nationalized health care than oil, regardless how good either one may be, you'll get all of the typical lap dogs barking in here, shortly.

Time to nationalize the oil industry and take out the profit motive.

hrmmm... banks get a break while they speculate on oil prices?
http://www.reuters.com/article/2009/06/0...
or maybe others?
http://thinkprogress.org/green/2011/09/1...

Allin: I don't agree with burning food for fuel myself. It raises food prices. Gone shopping lately? Why not look at this, if you like ethanol: http://en.wikipedia.org/wiki/Ethanol_fue...

Right now, as before, speculators have driven up the price of oil. Demand for oil is around 1997 levels. Hedge fund managers are pouring money into gasoline futures, which is why gas is so expensive. It's a free market, enjoy it.

baegucb - if that's your story, then stick to it. Just ignore the FACT that gasoline prices JUMPED on Jan. 1st in response to Obama's elimination of the subsidy for blending ethanol with gasoline. Pretend it didn't happen.

oh well, my points and links say and show, oil demand is down (and iirc the US was exporting gas recently). Gas prices are up and it's caused by speculators, in a market started by the Koch brothers.

TCB: Iran Contra never happened? http://en.wikipedia.org/wiki/Iran%E2%80%...
Let's rewrite history.

Bae,

You can believe in all the conspiracy theories you wish. Which commodities market do you wish to regulate? How about MCX in India? Under what force will you regulate this exchange?

Iran and Carter? Iran never had a better friend than Jim Carter...

werpknarly: right and wrong. Demand is down. "WASHINGTON, Feb 17 (Reuters) - U.S. crude oil demand plunged in January, dragged down by weak heating oil use, the American Petroleum Institute said on Friday. Petroleum consumption in January dropped 5.7 percent from a year ago to 18.026 million barrels per day. "While demand for all major refined products declined, the overall dip was driven in significant part by a nearly 27 percent reduction in deliveries of high-sulfur distillate fuel, which is used in home heating," API said in a statement."
And the API is the most conservative group around.

TCB: I'm sorry, I thought you were smart. You didn't read what I wrote or the links I posted.
/shrug

btw, economic basics, more demand = higher price.. DUH

keystorn pipeline ? canada oil is already coming to the united states... to the Midwest, right here.. build the pipeline will hurt midwest oil prices http://www.americanindependent.com/17352...

Did you catch that expression on Mitch McConnell's face in the photo from my previous link? Looks like someone just told him that Santorum is up 8 points nationwide over Romney. One of the most perfect setups for the opposition party to steal the presidency from the incumbent and it comes down to Santorum and Romney... Republicans have much more to worry about than gasoline prices, believe me.

Bae,

Oil companies are not regulated? Thats news to me. Who knew? Next you'll say that nuclear power companies also are not heavily regulated or the development and construction of oil refineries are not hyper regulated or oil pipelines....(oops hello keystone)....

justBnice: 87% of statistics are made up.

I expect that the number of unemployed in our state will increase rapidly after the recall - Governor Walker will probably get rid of about 27% of the public (union represented) workers. In his second term, he will bring Wisconsin into the 21st century by making us a Right to Work state.

Actually MooShoo Governor Walker's efforts DO work, so long as the state is losing PUBLIC sector jobs and saving the taxpayers money.

Two charts that should terrify Republicans: [ http://tpmdc.talkingpointsmemo.com/2012/... ]

TCB: your response is simple minded. Regulate the oil commodities market, like it's supposed to be.

Bae,

A simplistic explanation to a complex issue. You can believe it if you wish-and if speculation is so simple AND legal-perhaps you should follow suit and speculate and make some money on the process. I would prefer that the USA further exploit the demand side of the equation with more production and exploration-what about you?

What is your remedy for high oil prices?

TCF: Here's some links for you. It's been known about for years.
http://www.cbsnews.com/8301-505123_162-4...
or do a google search of banks+oil+futures+-news+CFTC
I skipped the PDF links in the search, since PDF's are a security risk. The first non-PDF link is http://oilgeopolitics.net/Financial_Tsun...
My only thought is, some of the bank and oil execs will try to manipulate gas prices until November to affect the elections. Like what Iran did with Carter and Reagan and the hostages,

TCB: oil prices are driven by speculators, in a market started by the Kochs. If Iran cuts off Britain and France, it doesn't matter. Simple. If Iran cuts off all Europe, Saudia Arabia has already said they'd up production. Most of Iran's oil goes to China, India, and Asia. Oil production hasn't decreased suddenly. The price of gas goes up due to speculators.

Bae,

Iran is the worlds 4th largest oil producing nation-right behind the USA. Its a big deal. The global economy runs in large part on the free flow of crude oil to first world nations. The real cause of the price of increased oil is increased DEMAND. Its easy to speculate-oil will either go up in price, down in price or stay the same. What specifically does your June 2011 link have to do with the price of oil today? Nothing-still affraid of the Koch family? What about George Soros?

Iran cuts off oil to Britain and France, so what? That's 1 and 3% of what they import. North sea oil etc. The real cause of the price increase is speculators. And unscrupulous businessmen. Here's some raw meat: http://thinkprogress.org/report/koch-oil...

PanamaRed - since you asked, the price at the pump went up Jan. 1 when Obama eliminated the ethanol blenders subsidy. Maybe you should go beyond Econ 101 and pay attention to the real world.

PRed,

If the world's supply of crude oil were to increase what would happen to the price? Would it rise or fall? Why?

To suggest Obama's actions are the primary reasons for higher oil prices defies ALL logic. For example, we import MOST of our oil from Canada, so explain how Obamas foreign policy has impacted oil prices. Oil prices fluctuate based on global demand. Economic conditions result in more or less oil consumption. Oil prices fluctuate based on supply. Unrest in ANY of the oil producing countries leads to price hikes. Oil prices fluctuate because investors speculate which way supply or demand will change. Those are just a few of the issues that influence the price of oil. Obama can't control the conditions in Iran, Iraq, Saudi Arabia, Canada or any of the oil producing nations that would lead to changes in the price of oil. Obama has no direct control over the amount of oil the world consumes. To suggest otherwise is a break from reality.
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One must be totally ignorant of market influences to suggest that Obama's "ideology" influences the price of oil. Does Obama control the price we pay for food, clothing, cars, airfare, hotels, tires, lumber, homes, etc. Take an Econ 101 class and pay attention. You won't hear Obama, or any Presidents name mentioned unless their name is widget.

smallbiz,

Oil is a fungible commodity. Its a fairytale to believe the USA or any nation will not be dependant on foreign oil. Currently the US is dependant on Canadian and Mexican oil-which is just as foreign as iranian or venezuelan oil. the question is-should the us ebrace a policy of exploration and discovery of its own natural resources here in the United states-yes we should-but the current administration does not believe this.

fearandrhetoric4dummies- The future is nearer than you think. We have already replaced some of the imported oil with ethanol - and some natural gas vehicles are already in service - electric cars are coming of age. Progress is being made, but we can't advance much further until we solve the political sickness our country is currently experiencing. Sure, Obama is a big part of our energy problems, but it will ultimately take bi-partisanship for us to cross the finish line and be independent of foreign oil.

fear,

So you advocate doing nothing rather than forcing people to embrace wind or solar for autos? Is this what you advocate or do you advocate drilling more in the USA?

Not long ago-whale oil was used to fuel laps....

Signed,

"Sometime in the future we are going to have to fuigure out a renewable source" (fear quote)

Obama's ban on off shore drilling (which I believe is still in contempt of court) and Keystone will be his problem (one of them) in the upcoming election. We can be self-sufficient. It's in abundance.
If this were a Republican President Wolf Blitzer would be crying at the top of every hour about gas prices and the President's inability to put the people's need first. High energy cost hurting the middle class the most.
I can say that because it was his headline for 3 nights straight when gas went over $2.00 under Bush.

""Our country has an almost unlimited supply of cheap natural gas. Obama refuses to actively support it's use as fuel for automobiles.""
Small biz- we agree on this in principal. Two minor adjustments in that comment.
1) Obama? No there are ZERO politicians that support it, bc big oil sleeps with them all.

2) while there is a large supply of Natural gas, it is hardly unlimited. Who'd have thunk 50 years ago that the peak oil theory would be viable? It IS!!

Natural gas would be an excellent option to get us away from fossil fuels, but itsonly a bridge. Sometime in the future we are going to have to fuigure out a renewable source, otherwise well just consume ourselves right into extinction!

Me n Kiowa the same person? I wish I was that intelligent!!
Oh and BTW I am an anonymous blogger too Miss Scarlet, unless you found fearandrhetoric4dummies in the phone book!! get a clue!!

Ezoner and others I am gonna wait and see if any of you have any valid statistical points on oil prices and the president. All I see is invalid partisan finger pointing and little to do in the way of fact.

""His energy policy, his forgein policy, his ideology ""
Ezoner those are partisan talking points and not at all specific.
What energy policy? What has changed since the days of Bush that would increase the price of gas? Please be specific.
Foriegn policy? Again some specifics would be nice if you could please. What foriegn policy has been enacted by the Obama administration that DIRECTLY affects the price of oil? Pursuing and killing OBL? The surge in Afghanistan? These are all things many republicans supported!! So if you could please enlighten me to what exact foriegn policy decisions they have made to directly affect the price of oil in the free-market?

Last but not least, Ideology? Really? What on EARTH does the fact that he is a democrat have to do with energy prices?

Dont accuse others of partisan bickering EZONER when you absolutely have just done exactly that!! Nothing specific or factual in your post, NOTHING!!

Fear -- the problem is that Obama's administration is directly to blame for a large portion of t he oil price today, for a variety of reasons. His energy policy, his forgein policy, his ideology --- need I go on. Its obvious to me, that some people want to defend him, when on this issue there is no defense. It discredits valid points you may make when you cannot acknowledge what is obvious to anyone but a partisan political position. Neither side should be beating up oil companies for their profits, now if you want to argue whether they should get tax credits or subsidies, fine.... those are points for discussion. But a 10% profit really isnt much. If you want to express it in Billions of dollars, you are sensationalizing without looking the investments and costs to bring that product to market. Also -- when you beat up a company for being profitable -- then remember, if policy changes are made, those employees will suffer the consequences, not the investors, not the management staff.

Summarizing -- wind energy has been around for 100's of years, and has always been deemed a worthwhile investment absent of other energy forms. Solar, while relatively new also has severe cost issues. For now, until alternative forms are discovered or developed, we are stuck with fossil fuels and we must make the best of the resources we have. Using profits from other energy forms, should be in the interest of the energy companies, if they want to exist long term. There is also a long term interest by our government in alternative energy exploration, but I do not see wind and solar as the solution. They are simply a bandaide to extend the availability of fossil fuels until something better is developed. If nothing comes along, we are in trouble, no matter how you dice the apple. Other investments can be made in energy efficiencies. Example -- using VFD's opposed to accross the line motors on pumps. There are lots of ways to improve efficiency. That will help to lower demand and further extend fossil fuel availability.

Obama -- has done little in the way of energy policy that supports a long term strategy -- other than delaying and destroying our fossil fuel capability.

@missscarlet and justbrice-RE: Fear and kiowa. I am accused almost daily of being " two people" when I am not. If you read posts all the time, you can usually spot the one's who are. Are you? Maybe.

Our country has an almost unlimited supply of cheap natural gas. Obama refuses to actively support it's use as fuel for automobiles.

It's Gov. Lucy's fault

MissScarlet - It's more than just 'odd' that fearandrhetoric4dummies refers to kiowamohican as 'intelligent folks'. Bloggers don't usually assign such credibility to other anonymous bloggers unless they are either gullable or using 2 usernames.

Really, the big oil is in bed with the Democrats? Big oil is in bed with Washington period! Get ready for higher and higher oil prices. It's the cost of the way we live. And since Americans will not conceive of any other form of transportation other than a single individual in a single car, you get what you deserve.

The fact that Obama has acted in ways that has raised the price of oil in obvious. JustAskMe points out 2 of these actions by Obama. I noticed that fearandrhetoric4dummies is relying on an anonymous blogger (kio) for his facts and proof- give me a break.

Frusion , How on Earth would anyone respond when you are condescending, toward me, calling me self richeous , standing on a soap box, etc.....
I am trying to make greater points here that Obama is not to blame for the price of oil. Yet I am self richeous on a soap box?
I really could care less about where it is you're coming from , or how you interpret my responses to people whom have opposing viewpoints to me. I ask you tell me where I am going wrong factually, and keep your condescention to yourself.

""I guess all would be good in the world if you were king of all the lands. Your self-righteous is boring. It would be refreshing for you to comment on a story without your dramatic soapbox.""

You are right frusion you niether agreed nor disagreed with me, you just came after me. So again, what poin was it that you were trying to make? I didnt have an issue with you until you devoted an entire post to bashing me.
If you want to actually discuss an issue, bring it on, if you want to be a pr**k then Ill return the favor.
Obviously my statements on who does and doesnt control the price of oil werent that far off, when intelligent folks like kiowa know whats happening and let you all know.

@fear, I neither agreed nor disagreed with your comment yet you are on the attack which proves my point about you. If you feel I am a blowhard, look back at how you respond to others who disagree with you.

At least we have our homemade ethanol now to offset SOME of our imported oil. Of course Obama eliminated the subsidy for blenders last month which added yet another 5 cents to the price of gasoline permanently, proving he doesn't care how high the price goes. And Obama temporarily stopped the oil drilling in the Gulf and chased away some drillers permanently after the BP accident, jacking-up the price we pay at the pumps. If he hasn't already, Obama will destroy our country if given another term.

Panama and Gary -- you guys cant possibly be the ignorant. Obama -- no new pipeline, Obama, no offshore -- deep water drilling, Obama, wasting money on proven alt energy losers. -- complete lack of international / global insight. Obama is directly to blame for where we are with our gas prices today. Of all th e things Bush did bad -- his energy policy was actually ok. So unless you are apure partisan -- this is Obamas deal and it will slow any econiomic growth we had hoped for.

Great post grayprimer! Hard to believe there is anyone dumb enough to believe that President Obama has control over the price of oil. Global supply, demand and investment speculators dictate the price we pay for oil. Imagine how angry the right-wing nuts would be if they figured out how much MORE we REALLY pay for oil if OUR taxpayer dollars that help subsidize oil companies were included in the total.

It's a pretty simple concept. Continue to rely on others for your supply of oil and you will continue to pay the ultimate price for it. Our Government and others that don't realize this are absolutely clueless and it's no wonder we are buried in debt.

Gas prices high? Must be to reward Obamas rich oil buddies-like George Soros....(remember when liberals liked to make this statement about GWB?)...

You've got to hand it to our President on this one. He said energy prices would have to rise to attain his goals, and sure enough, there they go. I'll bet we all can't wait till this summer. Record gas prices, here we come!

Kiowamohican, you seem to be a walking paradox. You decry the wars with Iraq and Afghanistan and any coming war with Iran, yet you are investing to make money on it should it occur. Some folks might be puzzled by that. You take what seems to be a pricipled stance against war yet you are eager to profit from it.

However, if you're betting that the U.S. won't stand by and watch Iran's dictators bomb Israel off the map, I'd say that's a safe bet and you're likely to profit from it. But if you're saying that we should let Iran do as it will, then I'd say you're likely to be in a rather small and non-influential minority for a long time to come, thankfully.

Twenty years ago when all the democrats were saying it would take ten years to begin oil refining. So therefore why should we try to start drilling. If we had started back then we'd be in a much better position now. The democrats and some republicans would rather bend over and grab the ankles to the sultans and warlords than to be self-independent without own oil.

Some financial experts, like Peter Schiff, have been calling for a market collapse for years and years now. When it happens, they will be the first to say 'I told ya so'. But such untimely predictions are worthless to investors, even though they will eventually be correct. You can trade from your bunker all you want, but I rely primarily on facts (data), and not so much on forward looking predictions. And I do exceptionally well in the markets. I'm satisfied making lots of money, not ALL of the money, just lots.

smallBIZ:
I'm perfectly a hold of myself. I appreciate your concern.
I am not claiming the sky is falling, I am putting my $$ where my mouth is.
On Intrade I am vested pretty big on a US or Israel Invasion of Iran before years end. And yes, you can openly trade that proposition.
http://www.intrade.com/v4/markets/contra...
You can believe what ever you wish. Just don't say some did not call it, when the bombs start to drop!
If you can't smell this rat out, you would not make a very good trader, my friend ;-)

fearandrhetoric4dummies - you just had to wait until after midnight, on Presidents Day, to swear at the President, didn't you? The high price of gasoline is caused by: The President's failed policies and lack of leadership, the unfolding drama in Iran, and the greedy oil companies, in that order, just to name a few. If Obama gets re-elected, our economic future is doomed for decades to come.

Nice rant kiowamohican, but, as you well know, you are only partially correct when you use the dreaded word 'all' speculation. Replace that with 'most' speculation and you are correct. So calm down, the sky is not falling. And you are probably listenning to wrong group of speculators and traders if all they can think of Iran. The world is bigger than that and there are tons of money to be made by us all, as you know. Get ahold of yourself and think big.

SarahB: The oil market is a MEGA, and I mean MEGA, internationally traded market. If Iran says we are not going to export to these countries, well, then someone has to fill in the gap to supply them. When these countries go to other suppliers, that excessive demand will consequently drive the internationally traded prices up some. The US oil companies buy it on the international market, just like anyone.
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Iran really called the bluff of the European countries. Theses countries threatened to sanction them, by not buying their oil after like 6 months.. Well, Iran turned around and said; screw you, we don't care. We'll just stop shipping it to you right now. The new sanction they talk about now is shutting them off of SWIFT, which is how all the billions of oil transactions are monetarily made. If they can pull that off, things will REALLY heat up then, because in theory they would have major problems selling any large quantity of their oil. If that happens, logic would say Iran would then probably take the first shot to start a war, because at this point they are ALL IN on their pursuit to obtain nukes. There is no giving in, or turning back for them now. Any giving in at this point would be seen as beyond weak in their culture. Them taking the 1st shot, is no doubt, what our MIC wants! Much easier to promote another war when they take the 1st shot!

Well, I do trade oil futures to some extent, and I can tell you Keystone is NEVER EVEN A CONVERSATION when you talk with traders. If you brought the topic up, you'd be looked at as a crack pot, because it has absolutely ZERO to do with current speculation. Right now all speculation is about three things:
IRAN
IRAN
IRAN
The speculators can all see through the BS, and knows that our industrial military complex, and our alliance with Israel, is HELL BENT on going to war. You did not have a down drone story conveniently leaked to the press a few moths ago just by accident folks. Normally a story like that is never even made public, or is covered up by the MIC spin machine. After that hand fed story, almost every single day you have a new story released to butter up the US public to launch the big ole INVASION..Go get those darn evil doers, the next leg of the axis of evil! The funny thing is HALF, yes HALF, the American public is IN FAVOR of going to war!
http://www.infowars.com/polls-half-of-am...

We have more idiots in this country then even a cynic like me ever began to imagine!
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Not only will this up coming war SHY ROCKET oil prices, you will see unforeseen fall out unlike anything the Iraq invasion ever brought to us, especially if Russia or China decides to side with their big oil supplier. As soon as the bomb hits, the NYMEX will GO CRAZY. Traders will BUY everything on the market in a snap of a finger. The fallout will literally double,triple, or more oil prices over night.
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The other reason oil prices go up, is the obvious. Oil is traded in US dollars. As we continue to borrow, print, and create $$ at will, and continue a policy that we openly admit is trying to weaken our $$$, well commodity prices go up. 1st thing a trader looks at outside of headline middle east news, is a US DOLLAR CHART!

Whats the matter frusion, truth hurt? No soap boxes here, just want someone to tell me again how the keystone pipeline and the current president are directly responsible for gas prices. No rhetoric please, just the facts.
Frusion are you an oil speculator?
I do not claim to be one, or an economist by any stretch, but I can tell you this, George Bush was not responsible for gas prices being 4.25 a gallon, any more than Obama is responsible for the current prices. You and the other blowhards on this site that hate the current president , for whatever reason would blame him for the weather if you thought it would get him run out of office, so spare me the boredome, stay on topic, can you??

@ fear, I guess all would be good in the world if you were king of all the lands. Your self-righteous is boring. It would be refreshing for you to comment on a story without your dramatic soapbox.

Oh geez, the Keystone pipeline would do nothing to change the costs of gasoline, neither will drilling. We're about 10-15 years behind the curve in exploration and doing so takes an amazing amount of capital. Suck it up and get used to it. I'm sure it'll ease back down again, but you only have yourselves to blame.

Anyone else notice what Iran is doing? Stopping exports to France and the uK? Damn that Obama, why isnt he turning the full force of the military loose? It has worked so well in the past! First Afghanistan, then Iraq, the Afghanistan again, now Iran, then Syria, keep the perpetual wars going, maybe someday we will see gas prices level off.
I think if Canada doesnt start giving us oil soon and shipping it to China, they might be next!! Its all about the waar machine and keeping fear alive. Good for politics and 24 hour news networks, bad for Americans and all other human beings on Earth. When will we ever learn?

Keystone pipeline? Wrong!! Maybe oh maybe this has a little to do with speculation? WHatever happens to you free-marketeers? Blaming Obama because you hate him doesn't make your argument a correct one!! this is nothing more than OPEC and speculation. They know that oil is not a luxury , and is becoming more a necessity so theyll charge ofr it and you'll pay, simple as that!!
India, China and other antions on Earth catching up to the USA in consumption. For all of you free-market lovers to blame this on Obama is HILARIOUS and predictable. Its called supply and demand. Remember many of you are the very ones that hate regulating anything, calling it communism. Well if the demand increases exponentially then what do you expect the pice to do?
The pipeline would have been a drop in the bucket. And does anyone really think the keystone is dead? I also would ask the same nincompoops if they really believe that Canada will be selling all of its oil to China and "no oil for you" to the USA?? Sometimes the hyperbole is absolutely priceless!!
Blame the president all you like, as long as you were doing the same thing when gas was $4.25 a gallon under the previous administration. Was there a pipeline deal struck down that changed everything?
Funny how things change , yet they always stay the same.

The Keystone pipeline, more offshore drilling, develop the oil shale, build more oil refineries all could make us energy independent. But Obama chooses to make you dependent on war lords in the middle east and do nothing about the our own petroleum production.

garyprimer - I think I read once that the president has a Wheel of Fortune setup for just that purpose. The kids LOVE IT!

Just gas companies and speculators playing games seeing how much they can fleece people out of.

BTW any bets that the oil companies record a "record profit" the next quarter?

Must Dick C's fault, oh wait, that argument doesn't work anymore....

Yet another failure for the president's legacy.

Good news....I've been trying to justify trading in my 750cc motorcycle, for something a little more modern. If gas prices continue to rise, making it more beneficial to commute by motorcycle, it just might make sense to do it. Possibly a Triumph Speed Triple or a Benelli Cafe Racer??

It's natural to blame the president, that's what I kept reading over and over and over on these very blogs four years ago. So I guess it must be Obama's fault. And the fact that he and his wife spend so many millions on travel, consuming fossil fuels at an unprecedented rate. And his opposition to the Keystone XL pipeline, forcing Canada to sell the oil to Communist China, and shipping it by sea (thereby jeopordizing the environment).
Looking forward to $5.00 gas by November. Hope and change people!

One of the President's first duties each day is to set the price of gasoline.
On some days, just for fun, he allows Michelle or the children set the price.

It's all the President's fault, his oil buddies are manipulating the prices, he's holding back supplies and creating fake crisies to raise prices. Oh wait a minute, that was Geo. Bush. President Obama has done everything he could to lower gas prices. It's the evil Republicans who are driving up the prices so he looks bad.