Originally Posted by yardworkswi
As far as gas prices are concerned I do know that oil companies have been taking it to us since they existed but much worse from 04 - 08 than ever before and the spike that occurred during this time put those prices in a position that they will never recover unlike how they did after the mid 70s. From late 70s through 2003 gas went from .80 to 2 from 03 to 08 it went from 2 to 4.40. If you cant see that in around 25 yrs the increase was equivalent to 5 yrs of Bush then I understand why you would have the stance you have.
Your vast knowledge of oil prices is inspirational. I am sure people will refer to your expertise on the subject for millennial to come.
OPEC was formed to manipulate gas prices after the US took our selves off the gold standard. With the dollar now fluctuating they wanted to be able to protect them selves and get the same price no matter what the dollar did.
But sitting on more oil than is in the middle east we still have the ability to set the price. We just seldom make the commitment to exploit it. But every time we talk of doing that the prices crash in order to keep us from becoming energy independent. That's a catch phase to Dem's it means lie to people at election time then forget you every said it afterwards that has gone on for 35 years now. For Rep's it means what it says it means producing the oil we need to run the country here and having a safe supply.
Oil started to move in the 80s but we had Reagan and he envisioned hard shale oil which we have 2 trillion barrels worth. OPEC didn't like that one bit and the price stabilized and somehow we passed (peak oil) and not only did we not run out we now have more known supply's than ever. Clinton benefited from stable prices had he not he would have been a 1 term-er like Obama will be.
Now you bring up the prices hitting 4.40 in 2008 that is true but what is also true is they fell too 1.99 by the end of the year and I have gas receipts 3 days before Obama is sworn in at 1.79 a gal. Now how did that happen it was easy Bush made moves to open up offshore oil and Alaska the result was predictable more supply means lower prices and market dropped the price.
But Obama and the Dem's say that never happened and that will never work despite 2 instances in my life where it did. They blame the oil companies who benefit from their incompetent. They send our money to the middle east because they are beholden to a environmentalist fantasy that even though windmills are 11 times more expensive than coal we need to embrace the madness.
The results are food and gas prices that keep us in a near depression and to make sure we stay there they threaten us every day for 4 years now. They tell us we need to let the bush tax rates
expire which means for 4 years now no one here knows the future rates and therefore can not make longer term plans. I am so sick of hearing we inherited a bad economy the truth is it imploded right on schedule. And its the only reason the guy got the job he knew what he was getting he and his party made it as bad as possible so he could win. And he has done nothing in 4 years other than try to buy votes. But his single worse decision was to print money and spend it like mad driving down the dollar and the results are higher prices on imports and we import oil because we are not allowed to use all of our own.