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HomeOff Topics News & Politics › Gas Prices Under President Obama in Pictures
01-12-2011 05:54 PM  7 years agoPost 1
Dennis (RIP)

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Oregon

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Gas Prices Under President Obama in Pictures

Posted January 7th, 2011



Fact:
President Barack Obama’s Energy Secretary Steven Chu wants to “figure out how to boost the price of gasoline to the levels in Europe.” At the time he made the statement, gas cost $7 – $8 a gallon in Europe.
Fact: Since taking office, President Obama’s entire energy agenda has made a gallon of gas more expensive:

* Immediately after taking office in 2009, Interior Secretary Ken Salazar, canceled 77 leases for oil and gas drilling in Utah.
* The EPA announced new rules mandating the use of 36 billion gallons worth of renewable fuels (like ethanol) by 2020.
* This summer President Obama needlessly instituted, not one, but two outright drilling bans in the Gulf of Mexico.
* After rescinding his outright offshore drilling ban, President Obama has refused to issue any new drilling permits in the Gulf, a policy that the Energy Information Administration estimates will cut domestic offshore oil production by 13% this year
* Interior Secretary Salazar announced that the eastern Gulf of Mexico, the Atlantic coast, and the Pacific coast will not be developed, effectively banning drilling in those areas for the next seven years;
* The Environmental Protection Agency has announced new global warming regulations for oil refineries;
* Interior Secretary Salazar announced new rules making it more difficult to develop energy resources on federal land.

All of these policies raise gas prices at the pump by either: 1) decreasing the availability of domestic energy supplies, or 2) increasing regulatory costs on gasoline production.

President George Bush was no saint when it came to free market energy policies either. He mandated the use of ethanol, put off opening up the Outer Continental Shelf till the end of his second term, supported the expansion of renewable energy tax credits, tried to subsidize the nuclear power industry, and caved into environmental pressure by allowing the EPA to begin the global warming regulation process.

But as two time Super Bowl winning coach Bill Parcells says, “You are what your record says you are.” And the facts are these: during the first two years under President Barack Obama, gas prices have risen 55%. You can compare that to the 5% drop in gas prices during the first two years of President Bush’s term or the 2% drop under the first two years of President Clinton’s term. Neither President Bush nor President Clinton had perfect energy policies. But neither of them appointed an Energy Secretary who wanted Americans to pay $9 for a gallon of gas either.

http://blog.heritage.org/2011/01/07...ma-in-pictures/

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01-12-2011 06:10 PM  7 years agoPost 2
fla heli boy

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cape coral, florida

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any chance we have at an economic recovery, will go bye bye as we close in on 4 bucks again. Cause or effect, that was a pretty good indicator when things went south a few years ago.
Me, I'd put a well in every back yard and a refinery on every street corner.....
Let's get gas to a buck a gallon and watch this country take off again.

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01-12-2011 06:13 PM  7 years agoPost 3
Dennis (RIP)

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Let's get gas to a buck a gallon and watch this country take off again.
As long as the progressive left has their way, we will never see $1.00 per gallon gas again.

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01-12-2011 06:18 PM  7 years agoPost 4
shawmcky

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As long as there is demand from China and the like, and they will pay,dont expect any energy prices to ever be cheap again anywhere in the world.Our prices have gone through the roof.

Team- unbiased opinion.K.I.S.S principle upheld here

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01-12-2011 07:32 PM  7 years agoPost 5
PsychoZ

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As long as the progressive left has their way, we will never see $1.00 per gallon gas again.
We have not seen gas prices under a dollar since 1979 and we will never see those prices again. Prices are based on speculation by buyers of commodities and that is the number one problem.

Tea Parties are for little girls with imaginary friends

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01-12-2011 07:49 PM  7 years agoPost 6
BENTDABOOM

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west seattle

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yep!!!! the #1 problem>>>>>>>>>PEOPLE

CAUTION!!! politicians may be hazerdous to your well being

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01-12-2011 08:01 PM  7 years agoPost 7
fla heli boy

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I WAS joking. But the reality of it, is that if we pumped our own oil, built refineries within a short pipeline distance from the oil fields and built the required railway facilities to transport the fuel, our gas would indeed become VERY inexpensive. Oh, and a nice little side benefit of creating many thousands of good paying jobs to design, build and maintain the facilities.
Everybody wants to blame it on the EPA, tree huggers etc. Well there is something to that. But when the Feds can do pretty much what they want (and we all know they can when they want to), and don't do this, it's a very obvious sign that there are outside/foreign forces (read middle east royalty)that keep this from happening.

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01-12-2011 08:10 PM  7 years agoPost 8
BENTDABOOM

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OHYA, get rid of the FAT CATS AND POLITICIANS and we might stand a chance>>>>>>>>>good luck

CAUTION!!! politicians may be hazerdous to your well being

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01-12-2011 08:33 PM  7 years agoPost 9
fla heli boy

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oh I agree. Short of some kind of revolution, nothing's gonna change anytime soon. It will take a great person with a vision and the ability to tune out the money and power of corporate America. But the day we find that person, he'll be dead within 48 hours and everybody knows it, which is exactly why we end up with the scummy lawyers that serve us and sell us down the river now.

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01-12-2011 08:34 PM  7 years agoPost 10
STR8HUCKIN

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lodi ca

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We have not seen gas prices under a dollar since 1979 and we will never see those prices again. Prices are based on speculation by buyers of commodities and that is the number one problem
Gas was 99 cents a gallon back in 96-97. used to cruise all night on 5 bucks back in HS.

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01-12-2011 08:44 PM  7 years agoPost 11
fla heli boy

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yep. I was racing dirtbikes around that time and I used to pay just over a buck for premium. 117 octane VP race gas was less than 3 bucks a gallon.

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01-12-2011 09:08 PM  7 years agoPost 12
spaceman spiff

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Tucson

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Just for fun, here is a chart of gas price over the past several years. Cheaper now than when Bush was "controling" gas prices. Went down pretty dramatically as it became clear that Obama was going to be president and save us all. Feel free to make up any damn twisted oversimplified theory of your own. Making BS claims is easy and fun.

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01-12-2011 09:09 PM  7 years agoPost 13
shawmcky

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I reckon our gas will be close to $15 dollars a gallon by the end of 2011

Team- unbiased opinion.K.I.S.S principle upheld here

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01-12-2011 09:13 PM  7 years agoPost 14
fla heli boy

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c'mon spiff, at least recognize that your chart shows from 2008 on. Why not take that graph back to 2006 when the Dems took over congress.
I'm no Obama fan, but I will say, he's harmed us far less than the Libtards in the congress have for the last 4 years.

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01-12-2011 09:16 PM  7 years agoPost 15
spaceman spiff

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Tucson

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Shoot an arrow into the side of a barn, then go paint a target around it.

You'll be a winner every time.

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01-12-2011 09:27 PM  7 years agoPost 16
fla heli boy

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cape coral, florida

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I think the point trying to be made here, is where is the outrage that gas and oil is going up daily and yet, when the same thing happened during Bush's reign, the only thing you ever heard was that it was Bush's fault that gas was so high. And if you remember, congress was wanting to institute "windfall profit taxes" on big oil, even though per gallon, the federal government makes more money than they (oil/gas companies) do.
I don't think it's Obama's fault any more than it was Bush's fault. It's congress' fault for not allowing us to drill, both on land and see, nor let us build refineries. Do that and we can tell the middle east to solve their own problems.

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01-12-2011 09:45 PM  7 years agoPost 17
spaceman spiff

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Tucson

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I think the point trying to be made here, is where is the outrage that gas and oil is going up daily and yet, when the same thing happened during Bush's reign, the only thing you ever heard was that it was Bush's fault that gas was so high.
Very true, and my argument then, as it is now, is the conclusions are based on oversimplified, oporunitstic political BS.

As tempting and fun as it may be to pull the same disingenuos BS to harass the other side when it is our turn to do so, i think it just leads to more BS.

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01-12-2011 09:51 PM  7 years agoPost 18
helo_chris

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goodlettsville, tn

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For those who want to see how biased that graph is on the surface based on that post here is the raw data. The graph starts at the peak of gas prices being so high. Looking at the raw data gas prices were much cheaper for most of W's presidency than they are now. Prices indeed did not start going up until 2006, after the Democrats took control of Congress. Anyone like to debate cause and effect relationships?

Click on Regular and go to Data 3:
http://www.eia.doe.gov/petroleum/da...as_history.html

"There is a fine line between cutting edge and bleeding edge.."

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01-12-2011 10:11 PM  7 years agoPost 19
PsychoZ

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Northern, CA

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Here is another take on gas prices during Bush.

How Bush Pushed Gasoline Prices Sky High
By Katherine Yurica

On March 5, 2003, Senator Carl Levin, the Ranking Minority Member of the Senate’s Permanent Subcommittee on Investigations, released a report prepared by the minority staff that reveals why gasoline prices soared under the Bush administration. It has to do with the nation’s Strategic Petroleum Reserves (SPR) and some odd decisions by the Department of Energy (DOE) after consulting with White House officials.

According to the Senate Report, the Bush administration added forty million barrels of oil to the nation’s reserves in 2002. That wouldn’t be a problem in and of it self. But the purchases represented an extreme change in energy policy; they were made in a strong market, with a tight supply of oil, which increased demand, which in turn pushed up the gasoline prices to their highest levels in twelve years.

The Senate report said in a one-month period in mid 2002 the Bush administration purchases caused crude oil prices to soar, raising the cost of heating oil by 13%, jet fuel by 10% and diesel fuel by 8%. The bottom line was the Bush policy change cost citizens between $500 million and $1 billion.

When crude oil jumps from $20 a barrel to $30, the Senate report says, the costs to U.S. taxpayers are an additional $1 million per day. “Over three months, the additional cost of filling the SPR approached $100 million,” which will ultimately be borne by U.S. taxpayers.

Why did Bush do it? For one thing, he was advised to do it. It has to do with the secret National Energy Policy advisory group headed by Vice President Dick Cheney. Cheney has steadfastly refused to release the names of those who advised the administration on energy matters. However, according to an article published in the Sunday Herald in Scotland (October 6, 2002), by Neil Mackay, it was former Secretary of State, James Baker who personally carried an advisory report to Cheney in April of 2001. Assembled at the James A. Baker Institute for Public Policy of Rice University, the task force consisted of oil and energy executives. The report, Strategic Energy Policy Challenges for the 21st Century is referred to simply as the “Baker Report” or “report” below.

The report advised the new president, “At a minimum the government should aim to fill all of the nearly 700 million barrels of [reserve] capacity it currently has available.” Later, the National Energy Policy report recommended that the President wait until exchanged SPR barrels were returned and then he should determine whether offshore Gulf of Mexico royalty oil deposits to the SPR should be resumed. So after September 11, 2001, George W. Bush vowed to fill the Strategic Petroleum Reserves (SPR) to capacity.

The Baker report was not irresponsible, it also warned the president, “One problem with trying to refill the reserve at this time when markets are strong is that any purchases made by the U.S. government would add to the current tight supply.” In other words, prices would go up!

At one point, the Baker report recommended that purchases of reserve additions be accomplished through direct “budgetary allocations.”

Trying to teach a new president the facts on SPR oil rights and wrongs must have been a heady proposition. There were many object lessons in which to point. The Baker report singled President Bill Clinton’s use of his “discretionary authority to lease oil to the market on a time-swap or exchange basis” as an example of a no-no. First, according to the Baker experts, Clinton’s exchanges reduced the size of the SPR at a time when more oil might have been needed. Next, the report chided, a president must not earn “far less in interest” than he could have, by using better methods. Perhaps Clinton’s biggest faux pas according to the Baker experts is that he used the drain-down of the reserves “to address winter heating-oil inventory concerns,” which indeed reduced heating oil from $37 to $31 per barrel. That was a big no-no. The Baker report advises a president must not use the SPR as “a market buffer stock to damp prices and price volatility.” (Translation: A president must not help the poor to heat their homes at a reasonable price at the expense of oil company profit taking.)

Hence in the National Energy Policy report, the NEPD Group “recommends that the President reaffirm that the SPR is designed for addressing an imminent or actual disruption in oil supplies, and not for managing prices.” (At page 8-17.)

That recommendation signaled a significant policy change: it denied the president the right to withdraw oil at times when prices are unusually high due to manipulation of the market.

What were the superior choices left for the President? The report advises taking advantage of “the market’s forward price structure…if the market structure were backwardated, with future prices lower than current prices, the government would be able to replenish the reserve with more oil than it had leased on an auction basis. If the market structure were in contango, with future prices higher than prompt prices, the government could lease its cheaper spare storage capacity to industry, thereby also providing revenue to build government-owned reserves at a later time.”

But the method the Bush administration chose was to fill the SPR without regard to crude oil prices at all but simply at a constant rate of speed. The result was extremely high prices for gasoline and increased charges to be born by the taxpayers. The Bush administration denies this. But the method they chose did not add any additional reserve oil to the nation’s strategic supply. So why do it? Oil companies were happy, after all oilmen contributed $26.7 million to Bush’s campaign in 2000 and another $18 million for the 2002 election.

Another possible reason is this: The only way to get oil companies willing to make investments in drilling new sources of oil is to keep oil prices high. The nice thing about this methodology is that criticism can be so easily deflected as a White House spokesman did in a recent interview, by claiming the “purchases were for national security reasons.”

Whatever the motivation, this much is clear: American citizens had to pay and are still paying a hefty price for gasoline and home heating oil. In the end, regardless of the lip service Mr. Bush may offer to the American people on how he is benefiting all citizens, the facts show he benefits those corporations who made large contributions to his campaigns.

Tea Parties are for little girls with imaginary friends

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01-12-2011 10:17 PM  7 years agoPost 20
fla heli boy

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laughable. So what would their excuse be now that Oblahblah is in charge???

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