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Plunging Gas Prices!!!

  • Hey, wasn't this one of this boards many Obama faults?

    Buckrock ●

  • Yeah, it's down all of 20 cents a gallon here. Call me when the price drops to around $2.50 a gallon.

    pazbuc ●

  • pazbuc said...

    Yeah, it's down all of 20 cents a gallon here. Call me when the price drops to around $2.50 a gallon.

    OK i will. It was supposed to hit over $ 5.00 from some members on this board and averages $ 3.55. Supposed to continue to fall during the summer months to help the economy. It's great to be out of Iraq as they pump wildly. clap

    Buckrock ●

  • Buckrock said...

    OK i will. It was supposed to hit over $ 5.00 from some members on this board and averages $ 3.55. Supposed to continue to fall during the summer months to help the economy. It's great to be out of Iraq as they pump wildly.

    The best explanation I have heard is that the Saudi's hate Iran and Syria. They have dramatically increased production to offset the Iranian sactions which has driven down world prices.

    A secondary explanation is that the Euro have fallen about 10% versus the dollar and because oil is traded in dollars the Europeans have cut back demand because of their recession and the high cost in Euro terms for oil.

    Third is the slowdown in the Indian and Chinese economies.

    The rise in oil was not Obama's fault and the drop has nothing to do with his policies. At the margin and it is small, he has probably hurt US production through his policies and the more aggressive enforcement actions of the EPA which has been offset by the increase in fracking particularly in "gas rich" areas like the Utica basin which is in Ohio.

    MCM

  • MCM ! You nailed it . Damn good answer.....

    NUTTYBAR ●

  • i don't think the price has dropped that much in regards to the price of the barrel.....paid $3.75 in huber heights today....

    minsterbuckeye

  • Buckrock said...

    Hey, wasn't this one of this boards many Obama faults?

    When Bush left office, gas was around $1.90. When it gets back to around that price, I'll be happy.

    signature image

    www.miamiproject.miami.edu/

    Buckeye Warrior ●

  • Buckrock said...

    OK i will. It was supposed to hit over $ 5.00 from some members on this board and averages $ 3.55. Supposed to continue to fall during the summer months to help the economy. It's great to be out of Iraq as they pump wildly. clap

    I hope it does continue to fall and I am definitely happy to be out of Iraq.

    This post has been edited 2 times, most recently by Buckeye Warrior on 6/13/2012 at 9:58 PM

    signature image

    www.miamiproject.miami.edu/

    Buckeye Warrior ●

  • Buckeye Warrior said...

    When Bush left office, gas was around $1.90. When it gets back to around that price, I'll be happy.

    No you won't if its under Obama. By the way, where do you make your living?

    dave1954

  • The President - no matter who it is - does not control gas prices.

    Yeah, I said it.

    shalvoy

  • Buckeye Warrior said...

    When Bush left office, gas was around $1.90. When it gets back to around that price, I'll be happy.

    Wow, that's an awfully bold statement to make...I guess you're forgetting that only six short months before Mr. Bush left office, gas was at nearly $150 per barrel and $4.10 a gallon.

    Some of you people are ridiculous. Don't just pick and choose what you want to see, dive in and look at all the numbers.

    Obama certainly isn't in the clear, but for god's sake people please stop thinking that the President has responsibility over gas prices. On the contrary, it's rarely even the President's policies.

    dcbucki47225

  • dcbuck-i said...

    Wow, that's an awfully bold statement to make...I guess you're forgetting that only six short months before Mr. Bush left office, gas was at nearly $150 per barrel and $4.10 a gallon.

    Some of you people are ridiculous. Don't just pick and choose what you want to see, dive in and look at all the numbers.

    Obama certainly isn't in the clear, but for god's sake people please stop thinking that the President has responsibility over gas prices. On the contrary, it's rarely even the President's policies.

    Where did I say that I liked high gas prices under Bush? What I did say was that when gas drops back down to where it was when Bush left office I'll be happy.

    signature image

    www.miamiproject.miami.edu/

    Buckeye Warrior ●

  • shalvoy said...

    The President - no matter who it is - does not control gas prices.

    True statement... gas prices are mostly dependent on global factors and speculation. To think a president is responsible for or able to change gas prices is just silly.

    thrillerbuck

  • For a change nobody in Washington called for tapping the strategic oil reserves or holding congressional hearings over oil prices. Maybe the politicians have learned their lessons that neither will change oil prices. The market will. Even Chuck Shummer shut up and that in itself is a blessing.

    pazbuc ●

  • Buckeye Warrior said...

    I hope it does continue to fall and I am definitely happy to be out of Iraq.

    +1.

    Buckrock ●

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