This thread tracks the progress Obama is making towards his goal of $5/gallon gasoline.


I bought at $3.90 today in Raleigh

We should get there this summer.

[Edited on April 3, 2011 at 10:39 PM. Reason : FIVE DOLLAR GALLON]

4/3/2011 10:39:01 PM

This post tracks the progress face is makings towards his goal of poor trolling


I saw some of his usual trolling today in Raleigh

We should get there this thread

[Edited on April 3, 2011 at 10:46 PM. Reason : SHITTY TROLL POST]

4/3/2011 10:45:42 PM

I remember when dime bags used to cost a dime. Fuck you Reagan!

4/3/2011 10:59:37 PM

a quote from Obama's secratary of energy,"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Chu said in Sept '08.


How am I trolling? He is admittedly controlling the supply of gasoline in the USA by not allowing drilling so that alternative energy (which help fund his election and re-election bid) will be more viable.

This is trolling to you? Higher gas prices are not good for this nation I don't care what Obama has led you to believe.

[Edited on April 3, 2011 at 11:23 PM. Reason : a]

4/3/2011 11:21:29 PM

in the long run, dependence on foreign oil is worse for this country than moderately high gas prices today

4/3/2011 11:42:27 PM

LOL. This guy is a fucking riot.

4/4/2011 12:05:54 AM

Quote :

"Higher gas prices are not good for this nation I don't care what Obama has led you to believe. "

Nobody says you have to buy gas. You can ride your bike and the money you save by not driving can be used to pay the inflated retail prices due to higher transportation costs.

4/4/2011 12:36:12 AM

Gas should be taxed substantially by the federal government because it is destroying society and the environment and we are leading the way.

4/4/2011 1:00:30 AM

oh my god you guys are brainwashed.

4/4/2011 7:07:51 AM

face is right. instead, we should focus on gas/oil subsidies because that never happens and never relates to the purse strings of any politician.

4/4/2011 9:21:30 AM

Quote :

"He is admittedly controlling the supply of gasoline in the USA by not allowing drilling so that alternative energy (which help fund his election and re-election bid) will be more viable."

so...much...wrong

4/4/2011 10:02:28 AM

Obama is against low gas prices, period. You can't just pretend his stance doesn't exist

4/4/2011 10:54:22 AM

Quote :

"How am I trolling? He is admittedly controlling the supply of gasoline in the USA by not allowing drilling so that alternative energy (which help fund his election and re-election bid) will be more viable."

I actually believe you are serious and will dignify this with a reply.

Crude oil is a worldwide commodity. Drilling more or less in the US affects prices all over the world just about as much as it does in the US. Your argument becomes much difficult with this reality considered. Is Obama exercising his influence on the entire global economy by killing US gas as a gift to the renewable industry?

Obama does not have the power to control the oil markets. It used to be that a producer with so-called spare capacity could make the price go up and down based on what they wanted. This was Standard Oil type stuff, then OPEC, and now OPEC no longer has spare capacity. Any producer in the world, however, can make the price go down by producing less but virtually none of them can do it because someone else is counting on the $$$.

I don't understand how Americans can get protective about their oil in all seriousness. It's going to run out anyway stupid.

4/4/2011 10:59:28 AM

Quote :

"Obama is against low gas prices, period. You can't just pretend his stance doesn't exist"

The fact of the matter is that gas prices have been held artificially low in this country due to direct and indirect subsidies from the government. Without subsidies. gas prices would be at least around 9 or 10 dollars a gallon; the natural price.

I find it funny that the same people that complain about tax dollars going to healthcare for others want it to go to fill the gas tanks of others.

4/4/2011 11:35:46 AM

Bullshit. While the oil industry is subsidized a bit, these subsidies are about equal to the taxes and regulatory interference imposed by the government.

If we cut every last subsidy the price would not change much because the biggest input to the price of a gallon is the price of oil which is set on the world market.

4/4/2011 11:46:13 AM

oil subsidies play a minor role in the price of oil products. per unit of energy produced oil subsidies are pretty much nothing. the liability limits (on gulf coast drilling for ex.) are way more of a factor in us oil production. If you got rid of the subsidies prices might go up a tiny bit. if you got rid of the liability limits they'd skyrocket.

4/4/2011 11:47:33 AM

Here are ways oil is subsidized according to some liberal scum:

Quote :

" * Construction bonds at low interest rates or tax-free * Research-and-development programs at low or no cost * Assuming the legal risks of exploration and development in a company's stead * Below-cost loans with lenient repayment conditions * Income tax breaks * Sales tax breaks - taxes on petroleum products are lower than average sales tax rates for other goods * Giving money to international financial institutions (the U.S. has given tens of billions of dollars to the World Bank and U.S. Export-Import Bank to encourage oil production internationally, according to Friends of the Earth) * The U.S. Strategic Petroleum Reserve * Construction and protection of the nation's highway system * Allowing the industry to pollute * Relaxing the amount of royalties to be paid (more below)"

http://cleantech.com/news/node/554

A stretch? Some of it is, for sure. They missed the main one I think of:

The bidding process for drilling on federal land. (oh oh, and foreign wars)

--- scale ---

The U.S. uses between $200 billion to $1 Trillion in crude oil every year (depends on the price, duh). That is a very major part of our economy. The liberal scum claim subsidies to the oil industry is $15 to $30 billion every year. Well no, it's not affecting the per-unit price of oil. But I think the argument is that $15 to $30 billion / year spent on renewable energy technology could be a game-changer. Well, no it wouldn't be, but it would make a difference.

Nevertheless, you can't get rid of those subsidies. Many of them are related to foreign policy. And what is a solution if you believe that the DOT is seizing land for road projects at below-market rate? Have them pay more? No. Most of these are not things for which you turn a crank and 'fix', even though people talk as if they are.

You could go after the obscure tax code loopholes that the companies use. You could attack the favorable loans and the tax gifts local and state give for industries to come there. But you pretty much stand no chance of changing the systemic market distortion that our politics has on the oil and energy industries.

4/4/2011 1:27:20 PM

Smells like petiole oil in here.

Obama is waging an attack on us oil companies which is preventing us from adding to the supply.

Are you guys willing to relent at $5 a gallon? Is that your breaking point?

4/4/2011 1:44:49 PM

and there's the trolling

4/4/2011 1:53:06 PM

I think I might relent around $5.46 or so. Not a penny before.

4/4/2011 1:56:45 PM

Quote :

"if you got rid of the liability limits they'd skyrocket."

No, worst case we'd just stop getting oil from there. Far more likely, the oil industry would restructure to handle the liability.

4/4/2011 1:57:38 PM

Quote :

"and there's the trolling"

yeah

Quote :

"if you got rid of the liability limits they'd skyrocket. No, worst case we'd just stop getting oil from there. Far more likely, the oil industry would restructure to handle the liability."

The largest players are already pretty big, what do you think they'd do?

[Edited on April 4, 2011 at 2:09 PM. Reason : ]

4/4/2011 2:08:57 PM

Quote :

"No, worst case we'd just stop getting oil from there. Far more likely, the oil industry would restructure to handle the liability."

right. You'd essentially be removing the gulf coast as an oil supply. if you dont think that would raise prices then idk.

4/4/2011 2:44:38 PM

Its $4.19 in Chicago

4/4/2011 4:50:34 PM

^ Obviously something to do with Obama

4/4/2011 4:52:02 PM

Conservatives feeling entitled to a cheap, finite resource ITT.

4/4/2011 7:19:37 PM

There is a commodity bubble. Simple as that. All that housing money moved on to a different market.

4/4/2011 7:20:41 PM

They should bring back glass-stegall

4/4/2011 7:26:12 PM

They should stop bailing out creditors.

4/4/2011 7:45:27 PM

I am entitled to any and all finite resources I can figure out to use and demand someone else take responsibility for the externalities of using those.

4/4/2011 9:48:17 PM

wait is this thread about externalities or dollar destruction and supply/demand issues?

4/5/2011 12:34:48 AM

I thought this thread was about $5 gasoline.

4/5/2011 1:03:57 AM

It's $10 gasoline when you factor in the costs of the Middle Easterners that had to die for you to get it

4/5/2011 1:56:08 AM

If you paid $3.90 today in Raleigh, you got hosed. Or, more likely, you're lying. The average here was 3.62, slightly below the national average, and the highest reported was $3.71. I'm also going to go out on a limb here and say that increased gas prices are probably the result of massive turmoil in oil-exporting nations, and less so the result of a massive conspiracy by the Obama administration.

4/5/2011 2:01:16 AM

Quote :

"Or, more likely, you're lying. "

Can a troll lie? I mean, isn't a twisting, breaking, or exaggeration of the truth implicit? That's like saying I don't think that satirist is being completely straight forward with me.

4/5/2011 4:26:34 AM

he actually paid the 3.60ish that we did

he is factoring his gambling losses in

4/5/2011 5:35:43 AM

maybe he paid for premium?

4/5/2011 6:57:12 AM

i buy premium i dont have an '89 Accord

4/5/2011 7:44:58 AM

premium is a scam in nearly every circumstance.

4/5/2011 8:56:24 AM

OMG, if gas gets 1 cent more expensive I'm going to keep using it just like before

4/5/2011 9:26:36 AM

Quote :

"premium is a scam in nearly every circumstance."

Especially in instances where detonation due to forced induction is actually a myth created by unicorn riding pixies.

4/5/2011 10:08:15 AM

Premium is a scam if you're an idiot that thinks its better for your engine than regular (unless your engine is designed to run on premium, that is).


We need more drilling. East Coast, West Coast, Gulf Coast and ANWAR. You guys are kidding yourself if you think the worldwide supply is running out any time soon. Drill more domestic oil to empower our sagging economy which will in turn free up more capital to be used to research alternative forms of energy. You know, all those forms of energy that aren't anywhere near ready for prime time.

Quote :

"Nobody says you have to buy gas. You can ride your bike and the money you save by not driving can be used to pay the inflated retail prices due to higher transportation costs."

No wonder your pizza joint failed. Do you not realize that the price of oil affects the price of almost every single item you buy?

4/5/2011 11:14:13 AM

We would have needed to begin building refineries a while ago.

4/5/2011 11:28:55 AM

Quote :

"We need more drilling. East Coast, West Coast, Gulf Coast and ANWAR. You guys are kidding yourself if you think the worldwide supply is running out any time soon. Drill more domestic oil to empower our sagging economy which will in turn free up more capital to be used to research alternative forms of energy. You know, all those forms of energy that aren't anywhere near ready for prime time."

So when do you think worldwide supply will peak?

4/5/2011 12:43:27 PM

Worldwide supply I'd relatively close to peaking if I had to guess

Prices are going to go through the roof when it does.

Now we have to rebuild japan too uhoh.

$5 gasoline baby! 4 more years!

4/5/2011 1:03:56 PM

So much ignorance in this thread... I don't even want to get into it. I will state my educated policy on energy, which avoids discussing the theory or possibility of peak oil in the immediate future, which is:

Regardless of your particular beliefs in the availability of supply of oil, there are above and below ground concerns that should at a minimum require us to hedge potential disaster by 1) strongly encouraging the diversification of our transportation fuel source and 2) doing everything in our power to add supply to the market to give us more time for the transition. If you don't do both 1 and 2 at the same time, then the potential for disaster increases greatly.

4/5/2011 1:20:08 PM

^ ding ding ding


The only problem is no one wants to invest in alternatives when fuel prices are low.

So obama has been trying to raise the price of oil by not allowing drilling and he's succeeding.

Everyone knows big oil donates to republicans and alt energy pays for libs.

This is nothing more than a political game obama is playing with your wallet

4/5/2011 1:43:33 PM

I will state that I do not see $5 gas this summer unless something happens to Saudi Arabia. Right now price run-ups are a result of the Euro/Dollar relationship and fear of more potential supply disruptions beyond Libya.

I posted this on another forum on 3/8 (pre Earthquake). I think it still stands, althought I would likely rise my floor on unleaded gasonline, because the erosion of the dollar to the euro has been very significant, especially with the Euro central bank threatening to raise rates. I would put the floor now closer to $3 through the summer, with an upside to around $4.15-$4.20.

POST:
$150 a barrel won't happen this summer unless:
1) the panic spreads to a major oil producer
2) we bomb someone like Iran
3) some other unforseen natural disaster

Unlike 2008, this oil spike has much less to do with actual current supply/demand (below ground issues) issues and more to do with fear with what might happen to the current producers with regime change (above ground issues). Big big difference. We actually do have some excess capacity in the market to make up for some temporary loss of production in small OPEC producers. We didnt have this in 2008. We were completely tapped out. You might doubt OPEC's ability to pump more, but I have years and years of evidence to support they can pump what they say they can. People that say they can't have supposition.

I suspect oil could go as high as $120 under current conditions. I think it has a floor around $82-$85. Very possible to see sub $90 a barrel in the next 2 months if we dont get any more major news out of the gulf. As to the price at the pumps, gas prices could wildly vary to region, especially since much of the east gets Brent Crude, which has been trading at a premium. I suspect actual pump prices could rise another 50-75 cents a gallon. I suspect gas will settle, unless the above events happen, around $2.75-$2.90 a gallon.

History has shown that regime changes dont affect production. New regimes want it pumping hard and fast to bring in money. My guess is that new regimes will be less likely to honor supply restrictions (OPEC members) and pump more.

I am not a true peak oiler, but do believe we are coming to another crunch where $150/B is possible, but I do not think this is one of those moments.

In any event, my theory (which has been posted online before 2008, and was proved true) is that when oil gets to $150 due to supply constraints, there will be demand erosion enough to bring significant excess capacity to the markets, which will bring prices back down. This will negatively affect global growth, but I expect oil will reach successively higher peaks, followed by higher valleys (a roller coaster effect with each successive peak higher than the previous). It will not be sky high oil prices continuously, as the true peakers theorize. With each cycle, the industrialized countries will wean themselves further and further from oil (the U.S. is already doing this, and there are a lot of western countries that peaked years ago with oil consumption).

[Edited on April 5, 2011 at 1:52 PM. Reason : .]

4/5/2011 1:48:58 PM

I do have to admit that running a delivery business, I can't come up with a fair delivery charge when prices swing from $2 to $5 a gallon every year. I think the change in price up and down hurts the economy more than the price itself due to the uncertainty in predicting the future.

4/5/2011 1:50:02 PM

Quote :

"So obama has been trying to raise the price of oil by not allowing drilling and he's succeeding."

Domestic drilling affects the current account balance of the nation (i mean, imports/exports balance). The effect on oil prices (which is a worldwide commodity) is basically nothing.

4/5/2011 2:58:53 PM