This could be a HUGE problem for Obama. If they get rid of tax breaks, the public (most people) will cheer… until the oild companies’ jack up their prices to cover the difference. This will give them an excuse (as if they needed one) to greatly raise prices. And the joy most people will feel at stopping breaks for big oil, will quickly be replaced by anger towards Obama, as $5 a gallon becomes $8!

If he wants to do this, he’s got to find a way to prevent them from increasing prices drastically as a result. That in mind, I doubt he’ll do anything at all. This is just a publicity stunt… He’ll attack oil, blame Republicans, try to look like he’s doing “something,” and accomplish nothing.

The Left can try to spin this as the “evil oil” cause…
but this is inflation…
inflation caused by a print-happy monetary policy…

The point here is that all the liberal jackass’s screaming bloody murder over the oil companies making money hand over fist will, if the Obama regime were to get it’s wish, lose 20% of their 401K value over night.

The biggest drivers of profit in these plans today is big oil. Not to mention the inevitable rise in prices at the pump to recoup their corporate loses.

Obama truly is not only a blithering idiot, he’s his own worst enemy……and that’s a good, no great thing for ” real ” America.

This is the message of the phony conservatives. Free market, while the oil companies and banks are clearly screwing you. Yet you see people asking for less relegation. If the justice department was doing its work, they would have sort the speculators out a long time ago. Now that the oil price is rising, and the public is upset, only then did they decide to set up an investigation. Phonies all of them, the SEC let the Banks get away with it, now the freaking Justice department is almost doing the same with these crazies (speculators). I’m sick of these blatant corruption and ineptitude.

Hmm, let’s see…what were Obama’s exact words on this subject…

Under my plan energy prices would necessarily skyrocket’

-Jan 2008

laceyunderalls said:
Hmm, let’s see…what were Obama’s exact words on this subject…
Under my plan energy prices would necessarily skyrocket’
-Jan 2008

That may be the single campaign promise that Obama has kept…

Battery powered cars !

High speed trains !

Windmills !

Rocket powered roller skates !

Just drill everywhere there’s oil . The spotted owls and the smelts can watch out for themselves .

laceyunderalls said:
Hmm, let’s see…what were Obama’s exact words on this subject…

Under my plan energy prices would necessarily skyrocket’

-Jan 2008

Black and Gold Brad said:
That may be the single campaign promise that Obama has kept…

Big Eddie said:
Battery powered cars !

High speed trains !

Windmills !

Rocket powered roller skates !

Just drill everywhere there’s oil . The spotted owls and the smelts can watch out for themselves .

I’ve got one word for you Jokers, its Speculators. Look them up, don’t be useful idiots, they are the reason why gas prises have risen sharply.

As Cool Hand Luke said, I wish they’d stop being so nice to us.

skyfet said:
I’ve got one word for you Jokers, its Speculators. Look them up, don’t be useful idiots, they are the reason why gas prises have risen sharply.

You are correct. The ‘speculators’ (investors) have correctly speculated that:

1. A nosediving Dollar
2. Saudi oil production reduced
3. Increased demand in China + India
4. Drilling moratorium in Gulf
5. Increased regulation on drilling, etc.
6. Political turmoil in the Middle East

All equals oil prices going through the roof.

skyfet said:
I’ve got one word for you Jokers, its Speculators. Look them up, don’t be useful idiots, they are the reason why gas prises have risen sharply.

This is everyone’s beloved free market at work. No change in supply, no change in demand, but the price goes up based on political unrest in one region.

The liberals want to punish big oil for profiting but not if that makes prices go up and the conservatives will blame Obama for not doing anything, but if he does anything they will scream about the free market. In the meantime, actual consumers are getting hammered.

In other words – as in most issues – both sides are full of it and have zero integrity to stand by any principle except absolute opposition to the other side while neither side actually has a care about the people.

Black and Gold Brad said:
You are correct. The ’speculators’ (investors) have correctly speculated that:

1. A nosediving Dollar
2. Saudi oil production reduced
3. Increased demand in China + India
4. Drilling moratorium in Gulf
5. Increased regulation on drilling, etc.
6. Political turmoil in the Middle East

All equals oil prices going through the roof.

Thats not speculation its facts, how dumb can anyone be to deny the obvious. What is also fact is that the freaking speculators took advantage of the Mideast crisis and what you have is skyrocket in gas price. The only people benefiting from this are the Speculators, OPEC and the oil companies. Are you a lobbyist for any of them?

Knowledge is power:
http://www.cnbc.com/id/41971367/Oil_Price_Surge_Gets_Push_From_Record_High_Speculation
http://www.theatlantic.com/business/archive/2011/04/goldman-speculators-driving-up-price-of-oil/237207/

Even the chief energy analyst at Goldman Sachs is saying this.

By the way, I think it should be left alone and let the price settle down just like it did in 2008-2009 for those with short and selective memories.

This is madness, the speculators are clearly screwing you, yet you are blaming someone else for your misery.

Less oversight and regulation, that is the Republican mantra. More screwing from the Banks and Oil speculators, what a country!

We all shoud be paying more !!!!!!!

Ah yes, market forces.

skyfet said:
This is madness, the speculators are clearly screwing you, yet you are blaming someone else for your misery.
Less oversight and regulation, that is the Republican mantra. More screwing from the Banks and Oil speculators, what a country!

KOCH WHORE !!!!

Thank you sir, may I have another?

http://www.factcheck.org/askfactcheck/does_the_government_really_make_more_in.html

The above link is a fairly good article about a gallon of gas. We get screwed by both sides it appears.

One thing that idiots fail to even acknowledge is the fact that the value of our dollar is dropping as debt fears rise and the government prints dollars out of thin air. The value of the dollar also effects the price of say gold among other things.

http://www.usatoday.com/news/washington/2006-04-22-dems-gas-prices_x.htm

Above is a pretty good article from ’06 about gas prices.

More Liberty5 said:
http://www.usatoday.com/news/washington/2006-04-22-dems-gas-prices_x.htm

Above is a pretty good article from ‘06 about gas prices.

This is moronic. You don’t see any blame directed at the speculators? wow, keep playing party politics while they screwed ya.

Gas is going up due to inflation…
Gold is going up due to inflation…
If oil was pegged to Gold instead of the dollar there would be no price increase…
This Liberal printing of money is a deliberate monetary policy to manage the runaway deficits…

skyfet said:
This is moronic. You don’t see any blame directed at the speculators? wow, keep playing party politics while they screwed ya.

Show me where I said that speculators don’t have any part of it. I simply posted an article about the partisan blame game from ’06. I even posted a factcheck article about the price of a gallon of gas. I even mentioned in that post that we get screwed from both sides.

More Liberty5 said:
We get screwed by both sides it appears.

skyfet said:
This is madness, the speculators are clearly screwing you, yet you are blaming someone else for your misery.

There has always been high stakes speculators when it comes to oil prices, yet only when oil jumps do so many people grab their pitchforks looking for speculators. When gas is relatively cheap at the pump, do you guys think that the speculators have simply stopped putting down their bets? How foolish are you people? The cost of crude doesn’t go up because speculators are playing the market, speculators are forecasting higher costs because market conditions suggest that costs are going to go up.

This president is at the very least partially responsible for creating a climate in which speculators are banking on higher costs. Remember, they also make money when the bet low and win.

Black and Gold Brad said:
You are correct. The ’speculators’ (investors) have correctly speculated that:

1. A nosediving Dollar
2. Saudi oil production reduced
3. Increased demand in China + India
4. Drilling moratorium in Gulf
5. Increased regulation on drilling, etc.
6. Political turmoil in the Middle East

All equals oil prices going through the roof.

EXACTLY, Brad!

If Obama wants to drop the price of a barrel of oil all he has to do is clamp down on the EPA and announce he’s opening up ANWR. The betting will change immediately, even though it will take years before the companies can produce oil from the region.

He’s being spanked by the Saudis too- shows you how effective his bowing and scraping was. But hey, Michelle and the girls got some expensive jewelry from those bows, and he got a big gold chain- all of which he can “buy”at far less than current market value when he leaves office in 2013- that’s the little trick on “gifts” to the president.

We are the richest nation on the planet in terms of natural resources, but Obama doesn’t want us to use any of them. I guess I’ll see if I can get a windmill for the top of my car. BTW, WHERE do all of you Lefties think the ELECTRICITY comes from to power electric cars? Out of the air? R’uh r’oh!

skyfet said:
. You don’t see any blame directed at the speculators? wow, keep playing party politics while they screwed ya.

I guess you can blame the speculators but regardless it is commodity traders (speculators) that set the price for a barrel of oil. The companies don’t set the price, neither do the governments. They are simply just bidding on oil futures based on out put quotas set by OPEC, oil reserves, refineries, and oil demand. In ’06 the price increased because of mid-east unrest such as the whole Israel/ Lebanon conflict, and the speculators are looking at the North Africa unrest as well. Additionally, when the dollar looses value it can’t buy as much oil so you need more dollars to buy the oil.

The_Reasonable_Lib said:
Knowledge is power:
http://www.cnbc.com/id/41971367/Oil_Price_Surge_Gets_Push_From_Record_High_Speculation
http://www.theatlantic.com/business/archive/2011/04/goldman-speculators-driving-up-price-of-oil/237207/

Even the chief energy analyst at Goldman Sachs is saying this.

No way! The entity that essentially serves as the ‘farm team’ for the Federal Reserve says that it’s not the FED devaluing the dollar has nothing to do with rising oil prices? I’m shocked, SHOCKED I tell you! LMAO

Oil company’s profit margins are low- less than 10%. It’s easy for people like Joyella in New York to vilify things they don’t understand. These are multi-billion dollar companies. They should be making billions of dollars. On top of that they don’t even set the price of oil- speculators do. The reason their profits are good for public workers like teachers is that they pay billions in taxes on those profits. Where do you think the money comes from to pay teachers etc…….?

You guys got it all wrong, listen to Nancy….

http://articles.cnn.com/2008-07-17/politics/congress.oil_1_drilling-anwr-pelosi?_s=PM:POLITICS

Keeva said:
By the way, I think it should be left alone and let the price settle down just like it did in 2008-2009 for those with short and selective memories.

I actually agree here, it may be the only thing we can do. Now that those oil businesses are experiencing those profits they’re going to want to keep those so taking away subsidies may do more harm than good.

Whatever you do, don’t blame Obama! Sure Bush was to blame for 2.61 gas, but now things are different. We have a democrat president.

What a bullshit analogy. It’s really simple; let me explain it once again:

Supply and demand.

You have a thousand apples and ten buyers, the price is cheap.

You have ten apples and a thousand buyers, the price is high.

-0bama’s moratorium on domestic drilling has shortened the supply.

When the value of currency declines, you can buy less of any commodity.

Quantitative Easing caused billions of dollars to be printed; each dollar became worth less (more worthless?) in the process. Therefore, the price of every commodity was raised to reflect the decline in the worth of the currency.

DAMN, what is so difficult to understand here?

Big Eddie said:
High speed trains !

Actually, Eddie, high speed “freight” trains are a great idea; think of how many long-haul 18-wheelers could be taken off the road using a transcontinental high speed freight rail network.

There are a gazzillion different companies whose profit margins are much higher than the oil companies. Why does the media demonize the oil companies? Here in Texas they are our neighbors and relatives (and mostly geologists and chemical engineers). They have little to do with setting the price of oil. Oil products make just about everything possible in a modern society, yet we have the Federal Reserve and bankers in New York printing and stealing billions of dollars and the New York media has to go after those 8% profits that those evil Texas oil companies are making. WTF?

It all bush’s fault… not Obama’s… Bush’s. Obama didn’t get money form big oil. BTW don’t Google that last “fact”.

Obama just announced that he is ending the $4B in oil subsidies…
that should bring prices down////////////////////////////////////////////////////////////////////

skoorbekim said:
Obama just announced that he is ending the $4B in oil subsidies…
that should bring prices down////////////////////////////////////////////////////////////////////

To be honest with you, I don’t believe that the US taxpayer should be subsidizing any private company. Nor should we be bailing them out after they’ve made horrible business decisions.

The govt is not the problem, WALL STREET GREED AND DEREGULATION is the problem. the resolution is more regulation and investigation of fraud. SPECULATION on Wall street is what is driving up the price of oil. It has nothing to do with Supply and demand. It is the old, EMERGENCY SITUATION, so we must drill baby drill. We have heard this song before and the LIE IS STILL THE SAME. BOLD FACED AND UNAPOLOGETIC GREED. Every time I see Chevron and Exxon Mobil on TV spouting their false bravado about their contributions to the job market and investment in alternative energies, I could puke. In america, the wall streeters motto is THERE IS A SUCKER BORN EVERY MINUTE, and some of the posters on this blog bear out that statement. The facts, the ones that matter, point the finger at Wall street speculation as the culprit here.

CarmanK said:
The govt is not the problem, WALL STREET GREED AND DEREGULATION is the problem. the resolution is more regulation and investigation of fraud. SPECULATION on Wall street is what is driving up the price of oil. It has nothing to do with Supply and demand. It is the old, EMERGENCY SITUATION, so we must drill baby drill. We have heard this song before and the LIE IS STILL THE SAME. BOLD FACED AND UNAPOLOGETIC GREED. Every time I see Chevron and Exxon Mobil on TV spouting their false bravado about their contributions to the job market and investment in alternative energies, I could puke. In america, the wall streeters motto is THERE IS A SUCKER BORN EVERY MINUTE, and some of the posters on this blog bear out that statement. The facts, the ones that matter, point the finger at Wall street speculation as the culprit here.

You just contradicted yourself. You admit that it is speculators, which are actually commodity traders, who set the price of oil. But commodity traders, look at quotas from OPEC, supply, refinement capacity, and world events to set prices. Exxon, Chevron or BP don’t set the prices.

Also, are you claiming that these huge firms don’t provide jobs, or the offshoots and secondary support businesses don’t provide jobs? You might want to ask the people who work for these companies if they have a job or not.

I’ve also provided a decent link from factcheck about who makes what from a gallon of gas.

http://www.factcheck.org/askfactcheck/does_the_government_really_make_more_in.html

Drilling for oil will help us?
Stupid idea.
It’s an international market.
Oil will be sold to the highest bidder, not to lower consumer prices.
Keep it in the ground.
It will be worth even more in the future.

my dogs gone said:
Drilling for oil will help us?Stupid idea.It’s an international market.Oil will be sold to the highest bidder, not to lower consumer prices.Keep it in the ground.It will be worth even more in the future.

Increased drilling would increase production, increasing supply, forcing the laws of “supply and demand” to lower the prices of oil. Additionally, locally drilled oil would cost less to move to the US, than around the globe, lowering production costs, and increasing the oil profit margin, even without the “highest bidder.”

The libs will focus on the “huge profits”, but ignore the profit margins.

This is the opposite of how liberals argue about taxes: they focus on the rates but ignore the revenue. So even though the top 1% of households pay about as much as the bottom 95%, the goofy liberals focus on the rates.

Just focus on the profit margins as the oil companies sales are ginormous. If you want to attack gougers, look at Apple, Google, etc.

Kyle Isakower says teachers, fire fighters and government workers benefit from the oil industry. Well how about the rest of us, the majority of people in the U.S. ? In Europe a gallon of gas is 5 quarts, in the U.S. a gallon is 4 quarts. If our government controlled the oil industry in the U.S. and didn’t export it. we could have gas for less than a dollar a gallon. The army corps. of engineers could drill wells all over the U.S. and the deficit would disappear in no time. The oil industry won’t go broke, the rest of the world still needs oil. When Bush went to Saudi Arabia and begged for more oil he was told to use your own oil. Every one knows we have plenty of oil but, the government refuses to open more oil leases. Big oil is in comlpete control of the government and must be broken up just like the phone company was years ago. The only way to change this is to change the government.

You see, the gas prices are raised because of wall street speculators….this is why the republicans want MORE de regulations. More.

Damn.

the supply-siders are losing, but somehow winning

and the oil companies are actually telling consumers that paying more benefits them

wow

i’m telling you, if trump becomes president, you’re gonna see a mass exodus

craziest, stupidest and FATTEST country on earth

I used to think the Oil Compaies were raises prices to make money but now I think they are trying to cause a Egypt and Lybia style civil unrest. Now all I need to figure out is Why?
Maybe the Oil Companies are gearing up to become that one World Governmet the Bible was talking about.. Get your fan ready poop may be coming next.

I was thinking, If oil companies have to charge this much, than why do they profit billions every year? If they need their money that bad, they plenty of cash to build Casinos in Vegas, so they can give us people trying to drive to work and back everyday a break. Casinos make a ton of money. I really hope they read this.

i forgot to type have