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Old 12-19-2014, 09:35 AM
 
Location: Columbia, SC
16,448 posts, read 9,302,694 times
Reputation: 6182

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Quote:
Originally Posted by pghquest View Post
Because obama and left wing kooks opposed every policy which is causing the price to fall, in particular, things like drill baby drill.
Yep. I am so glad that Big Oil benevolently and altruistically decided to drill more oil so that they could sell gasoline to consumers cheaper at the pump. What big hearts all the oil executives have!
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Old 12-19-2014, 01:37 PM
 
Location: ATL -> HOU
4,131 posts, read 3,236,115 times
Reputation: 3154
Quote:
Originally Posted by chicagogeorge View Post
From the article you linked

So even though it's cheaper to produce a barrel of oil in Saudi Arabia, that doesn't mean that the Saudi's can sustain their own economy on oil prices this low.... So eventually they will slow production to raise prices.

Quote:
Thanks to their massive dollar reserves, the Saudis can afford to overspend for a while
The government is fine for now. And the $99 is including everything. For the individual producers the break even point is much lower. Prices may eventually rebound before they have to slow production. Will it come to that? No idea. But for now the prices are staying low.
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Old 12-19-2014, 01:46 PM
 
24,057 posts, read 17,644,649 times
Reputation: 12873
I remember on this forum in 2008, gas was hitting 4 bucks a gallon and lots of people were insisting that the US would never see gas below at least $3.50 a gallon ever again. by December that year I was paying a buck-forty-nine per gallon.

similarly, within the past year people were making a similar proclamation, with the cutoff at $3.

funny how that works.
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Old 12-19-2014, 09:18 PM
 
Location: ATX-HOU
10,218 posts, read 6,504,121 times
Reputation: 2033
Quote:
Originally Posted by wutitiz View Post
That brings up another point, too. In 2001 we had the tech bubble/crash and the 9/11 attacks, all of which yielded a weak economy. I think it's probably safe to say that falling oil prices usually go hand in hand with weak economic performance.
Oil price plunge continues as IEA forecasts weaker demand in 2015 | Business | The Guardian

So Democrats can save their shoulders, and stop patting themselves on the back over falling oil prices.
It's a global world, and it's global demand (or lack of) driving down prices along with too much surprise.
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Old 12-19-2014, 09:44 PM
 
Location: University City, Philadelphia
22,583 posts, read 11,796,721 times
Reputation: 15402
Quote:
Originally Posted by nononsenseguy View Post
No, because while Obummer's policies did cause the rise in gas prices, they have nothing to do with falling prices because he has not changed his policies in any way.

Prices are falling now in spite of Obummer, because of fracking, and other factors which are a result of market forces.

Has Obama opened any more land to drilling? Has he authorized any new offshore drilling? Quite the opposite.

This type of reasoning is indicative of a true die hard partisan.

Everything bad that happens in this country is to be blamed on Obama.

Everything good that happens in this country cannot be credited to Obama.

The poster even has to resort to name calling and doesn't even know to spell the President's name correctly.

Anyone who resorts to sneering insults and name calling has lost the argument.
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Old 12-19-2014, 10:22 PM
 
28,172 posts, read 24,722,232 times
Reputation: 9555
I sure don't agree with everything Obama does but there is no doubt gas prices are way down. If we're going to criticize the man when they go up he obviously deserves credit for bringing them back down.

I filled up my truck this morning and it was mighty nice to have an extra $40 in my pocket. Well played, Mr Obama.
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Old 12-19-2014, 10:30 PM
 
Location: Indianapolis
2,295 posts, read 2,035,426 times
Reputation: 3102
It's going to be hilarious if Obama leaves office and gas is $1.50 a gallon.

It will then jump back up to over $3 a gallon during a Republican administration and Democrats will post "gas was $1.50 a gallon when Obama left office," as if that means anything. You know, like Republicans have been doing for the last six years.

We have seen the same nonsense out of the Bush fans/Pubs and it's ridiculous either way. Never mind the fact that the highest gas prices in the history of this country were found during the tenure of GWB. That record still stands and it's still a silly argument.
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Old 12-19-2014, 10:33 PM
 
9,312 posts, read 5,593,490 times
Reputation: 4632
Quote:
Originally Posted by Clark Park View Post
This type of reasoning is indicative of a true die hard partisan.

Everything bad that happens in this country is to be blamed on Obama.

Everything good that happens in this country cannot be credited to Obama.

The poster even has to resort to name calling and doesn't even know to spell the President's name correctly.

Anyone who resorts to sneering insults and name calling has lost the argument.
But...but...but, ALL the cool kids on the playground are doing it!
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Old 12-20-2014, 10:12 AM
 
Location: Central Illinois -
19,718 posts, read 13,322,104 times
Reputation: 12919
I found it for $2.14 a gallon today, will report back when Obama drops it to under $2.00 a gallon.
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Old 12-20-2014, 10:27 AM
 
14,253 posts, read 14,769,290 times
Reputation: 13621
I paid $2.85 for 91 Octane yesterday. That is around $1.20 cheaper than it was just a few months ago. I pumped 16.5 gallons so a saving of around $20.

I guess I should be thanking the Saudis who initiated this price war.
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