Gasoline up 100% under Obama

[xUT]

Well this time she happens to be spot on. Obama is a scar upon the land.

Can't handle the spam. Even a broken watch is right twice a day but I don't need to keep watching every minute to know it's broken.

 

[dapoes]

Can't handle the spam. Even a broken watch is right twice a day but I don't need to keep watching every minute to know it's broken.

Translation: Can't handle having face rubbed in Obama's miserable presidency. Feeling of shame, embarrassment and stupidity.

It's a common tactic all the hope and changy folks have to do. Running around with fingers in both ears screaming "no it's not true"! Obama is soooooo cool! La la la la

 

[Ms Tree]

I'll reserve judgement till I know what was said.

 

[dapoes]

I'll reserve judgement till I know what was said.

You still aren't fooling anyone.

 

[P. REZ]

I have not read every post in this thread but what appears to be missing in this whole discussion is the strength of the US economy relative to other global economies and currencies.
.
Oil is priced in US dollars but we live in a global economy where many currencies have improved relative to the US dollar. When you combine that with the fact that more and more consumers worldwide are fighting for the relatively same amount of oil, it is a given that the weakening US economy and dollar relative to other developing economies such as India, China, and Brazil is costing Americans plenty not only at the gas pump but in other commodities.
.
Oil price increases are not being felt around the world as they are in the US because those other currencies are appreciating relative to the US dollar. It is Americans and their weak economy that are suffering.
.
Sure, domestically produced oil is not subject to the political aspirations of those who hate the US but domestic oil production alone cannot bring down the price of oil if the fundamental problem is that oil is priced in US dollars but the US dollar is weak.
.
there is one way to lower the price of oil and that is fix the US economy. Regardless of your political persuasions you fix the US economy by creating jobs and reducing the growing amount of debt which the US carries, both publicly and privately.
.
Without addressing the root cause of the weak US economy, rising oil prices will be a painful and very visible reminder that the US economy is faililng relative to the emerging global economic powers.

GOP admits speculation is helping boost oil prices, moves to gut speculation watchdog anyway
March 19, 2011

The Commodity Futures Trading Commission (CFTC) — which is charged with policing the country’s futures markets — said last week that speculation on energy futures, including oil, is at an all-time high. The Dodd-Frank financial reform law gave the CFTC the ability to issue limits on oil speculation, but agency missed the deadline for implementing the new rules, partly due to reluctance from conservative members of the CFTC board (which is a problem President Obama can address in June).

But even if the CFTC were stepping up, budget cuts favored by House Republicans would render market oversight vastly more difficult, as WonkRoom explains.

H.R. 1, the House Republican-approved spending plan for the remainder of 2011, cuts the CFTC budget by nearly one-third, which would force the agency to lay off nearly 30 percent of its staff. CFTC Chairman Gary Gensler has said that if the GOP budget cuts were implemented, “We would not be able to police…or ensure transparent markets in futures or swaps.”

And Republicans are forging ahead with these budget cuts even though they agree that oil speculation is increasing prices:

Rep. Ed Whitfield (R-Ky.), a senior House Energy and Commerce Committee member, recalled prior oil-speculation hearings and said “there was no question that that had some impact” on the 2008 uptick. “I think there is a combination of reasons for the recent spike,” he said in an interview yesterday.

Rep. Mike Simpson (R-Idaho), chairman of the House Appropriations subpanel in charge of EPA and the Interior Department, said policies at the departments he oversees play a role in rising prices but agreed that speculation does as well. “Traders look out and see what’s about to potentially happen, so it has to do with speculation,” Simpson said in an interview. “That adds to the overall equation.”

Both Whitfield and Simpson voted for the budget cuts in H.R. 1. Rep. Walter Jones (R-NC), however, voted against H.R. 1 (one of just three Republicans to do so) and sent a letter to the CFTC asking that it enforce the speculation limits set out in Dodd-Frank. “Most oil market experts agree that excessive, unnecessary speculation by Wall Street traders is part of the problem,” Jones wrote. “Further delay by the commission leaves consumers and markets exposed to manipulation at a time when this nation can least afford it.”

Gensler appeared before a House appropriations subcommittee today to request increased funding for the CFTC, but the subcommittee’s chairman, Rep. Jack Kingston (R., Ga.), was unmoved.


Try this on for the reality of life. On the NYMEX it costs $3375 to speculate on $67,000 worth of oil which is causing these high prices. Our reserves are at all time highs.

 

[leprechaun]

Well this time she happens to be spot on. Obama is a scar upon the land.

Dapose is a chick, man does she need some.

 

[dapoes]

GOP admits speculation is helping boost oil prices, moves to gut speculation watchdog anyway
March 19, 2011

The Commodity Futures Trading Commission (CFTC) — which is charged with policing the country’s futures markets — said last week that speculation on energy futures, including oil, is at an all-time high. The Dodd-Frank financial reform law gave the CFTC the ability to issue limits on oil speculation, but agency missed the deadline for implementing the new rules, partly due to reluctance from conservative members of the CFTC board (which is a problem President Obama can address in June).

But even if the CFTC were stepping up, budget cuts favored by House Republicans would render market oversight vastly more difficult, as WonkRoom explains.

H.R. 1, the House Republican-approved spending plan for the remainder of 2011, cuts the CFTC budget by nearly one-third, which would force the agency to lay off nearly 30 percent of its staff. CFTC Chairman Gary Gensler has said that if the GOP budget cuts were implemented, “We would not be able to police…or ensure transparent markets in futures or swaps.”

And Republicans are forging ahead with these budget cuts even though they agree that oil speculation is increasing prices:

Rep. Ed Whitfield (R-Ky.), a senior House Energy and Commerce Committee member, recalled prior oil-speculation hearings and said “there was no question that that had some impact” on the 2008 uptick. “I think there is a combination of reasons for the recent spike,” he said in an interview yesterday.

Rep. Mike Simpson (R-Idaho), chairman of the House Appropriations subpanel in charge of EPA and the Interior Department, said policies at the departments he oversees play a role in rising prices but agreed that speculation does as well. “Traders look out and see what’s about to potentially happen, so it has to do with speculation,” Simpson said in an interview. “That adds to the overall equation.”

Both Whitfield and Simpson voted for the budget cuts in H.R. 1. Rep. Walter Jones (R-NC), however, voted against H.R. 1 (one of just three Republicans to do so) and sent a letter to the CFTC asking that it enforce the speculation limits set out in Dodd-Frank. “Most oil market experts agree that excessive, unnecessary speculation by Wall Street traders is part of the problem,” Jones wrote. “Further delay by the commission leaves consumers and markets exposed to manipulation at a time when this nation can least afford it.”

Gensler appeared before a House appropriations subcommittee today to request increased funding for the CFTC, but the subcommittee’s chairman, Rep. Jack Kingston (R., Ga.), was unmoved.


Try this on for the reality of life. On the NYMEX it costs $3375 to speculate on $67,000 worth of oil which is causing these high prices. Our reserves are at all time highs.

What would one expect from the ever leftist conspiracy dolts at THINKPROGRESS? Is that why you where embarrassed to post the actual article link?
http://wonkroom.thinkprogress.org/2011/03/18/gop-speculation-cuts/

Answer this: Would it possible to speculate, if the power was supplied by solar wind geothermal? Or would using renewable energy eliminate the speculation? IE: Carbon credits traded on the exchange as was envisioned and created by Obama and Al Gore only to benefit GE, etc? Recall CCX?

How is the us gov going to regulate speculation on the world market? That committee would have no teeth hence no effect in speculation.

" Somehow we have to figure out how to boost the price of gasoline to the levels in Europe."
---- Energy Secretary Steven Chu, 2008

Look at the rise in gasoline prices over the past two years. When Barack Obama took office, gasoline was $1.65 per gallon. It is now hovering short of $5.00 per gallon. This represents the steepest rise in gasoline prices since the Carter administra­tion.

Do you agree with Secretary Chu?

 

[Ms Tree]

I think the easiest way to end speculation on all futures is to make it law that if you buy futures, you have to take delivery of said futures.

 

[dapoes]

I think the easiest way to end speculation on all futures is to make it law that if you buy futures, you have to take delivery of said futures.

You don't understand what futures are. Dunning Kruger effect strikes again for you it appears.

 

[SparrowHawk]

You don't understand what futures are. Dunning Kruger effect strikes again for you it appears.

Well it's not really a matter of understanding of futures so much as it is the simple fact that those on the left honestly believe that the government has all the answers to the worlds problems. Yet we need to look no father then the collapse of the Soviet Empire under the weight of it's debt and Government run economy for a proof positive example that excessive government is a failure of epic proportions.

 

[dapoes]

Well it's not really a matter of understanding of futures so much as it is the simple fact that those on the left honestly believe that the government has all the answers to the worlds problems. Yet we need to look no father then the collapse of the Soviet Empire under the weight of it's debt and Government run economy for a proof positive example that excessive government is a failure of epic proportions.

Ain't that the truth!

 

[SparrowHawk]

Ain't that the truth!

Yeah it is! You could look it up.

Below is an example of why we have no meaningful policy or stance regarding energy. Read with the caveat that it is an Op-Ed piece with a Conservative stance. Despite that fact there are more than a few facts to support the author's conclusions.


Academic Mission or UCLA Speech Code?

If you think that academia is not the exclusive playground of the academic left, consider the fate of UCLA epidemiologist James Enstrom.

In 2008, Enstrom thought that a report on the health effects of diesel emissions presented by the California Air Resources Board was faulty. As it turns out, CARB's nitrous oxide emission estimates were overstated by 340 percent. Enstrom and others had trouble believing that a Ph.D. statistician would make up some of CARB's findings. They dug around and found that CARB researcher Hien Tran had falsely claimed to have a doctorate in statistics from UC Davis. In fact, Tran had a master's degree from UC Davis, but his doctorate came from an unaccredited school.

CARB has since scaled back the diesel regulations it had previously approved -- although spokesman Stanley Young asserts that the policy change "was not related to the research" -- which officials have maintained were overestimated because of calculations made prior to the recession. CARB did demote Tran and cut his monthly pay by $1,066 to $7,899 per month.

Enstrom didn't fare as well.

In February 2010, after renewing his research grants regularly since 1976, UCLA notified Enstrom that he had lost his funding. Unlike Tran, he would be out of a job.

If this doesn't smack of Left Wing Hypocrisy at it's finest(worst) then I don't know what does. I always thought that Liberal believed in fairness and oddly enough I'm not seeing it here? This type of action causes a huge credibility gap to the point where no one whats to hear "Global Warming" why do you think the issue is now called "Climate Change"? Coincidence? Unlikely as incidents like the one above are relatively common.

 

[Ms Tree]

Well it's not really a matter of understanding of futures so much as it is the simple fact that those on the left honestly believe that the government has all the answers to the worlds problems. Yet we need to look no father then the collapse of the Soviet Empire under the weight of it's debt and Government run economy for a proof positive example that excessive government is a failure of epic proportions.

You must have really strong arms to carry that brush you are using.

 

[SparrowHawk]

You must have really strong arms to carry that brush you are using.

It's a Wagner Power Painter and it does a wonderful job painting the Left into their Morally & Ethically Bankrupt corner where they belong. Freedom, Liberty and the ability not to conform to their orthodoxy scares the excrement out of the left where free thinking is not permitted.

 

[P. REZ]

What would one expect from the ever leftist conspiracy dolts at THINKPROGRESS? Is that why you where embarrassed to post the actual article link?
http://wonkroom.thinkprogress.org/2011/03/18/gop-speculation-cuts/

Answer this: Would it possible to speculate, if the power was supplied by solar wind geothermal? Or would using renewable energy eliminate the speculation? IE: Carbon credits traded on the exchange as was envisioned and created by Obama and Al Gore only to benefit GE, etc? Recall CCX?

How is the us gov going to regulate speculation on the world market? That committee would have no teeth hence no effect in speculation.

" Somehow we have to figure out how to boost the price of gasoline to the levels in Europe."
---- Energy Secretary Steven Chu, 2008

Look at the rise in gasoline prices over the past two years. When Barack Obama took office, gasoline was $1.65 per gallon. It is now hovering short of $5.00 per gallon. This represents the steepest rise in gasoline prices since the Carter administra­tion.

Do you agree with Secretary Chu?

Googled and picked one of many articles. Faux News has even admitted such is true but you continue to want to hide behind the truth. As I've stated before you like drinking the kool-aid and just can't get enough. Oil should be at $75 tops but greed and kool-aid drinkers will get us to this point. The Republican agenda of losing jobs so that Obama doesn't get re-elected is a piss poor plan that is only hurting all but the richest 2% but that won't matter because of all the kool-aid drinkers out there ready to listen to the hate message they continue to spew. Keep listening and stay in the 98% struggling group or edumucate (misspelled on purpose) yourself and fight the real problem we all face, the rich supporters or Republican'ts.