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Supply has been only part of the story. There has been a corresponding reduction in demand in the US. CAFE standards and energy conservation opposed by conservatives have made it possible to accomplish more with less when it comes to energy. As usual, Obama was right again when he said, "all of the above".
The story shows that they've been about 6% and says they are poised to hit 8.. thats an increase,
The funny part is even at 5, its still an increase and again, 2x the growth rate of ours, and left wingers suggest we're booming..
It says 2 straight months of sub 5 percent growth. They have't hit 8 percent for the last 3 years so it's doubtful they are going to explode economically in the last half of the year. While the growth might be better than the U.S. it's still a slowdown.
So I can only assume Obama gets the credit for prices dropping seeing he gets the blame when they go up?
Lets see what that expert urbanlife78 has to say on the subject
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Originally Posted by urbanlife78
For gas prices to hit that low, you would have to either reduce the demand drastically or increase the supply drastically. Nothing any president can do will create this for you so you can have cheap gas again.
So the President cant do anything about it but want to give him credit?
Quote:
Originally Posted by urbanlife78
Anyone who thanks or blames the president for gas prices is misinformed.
Anyone who thinks the President has something to do with it is mis-informed
Quote:
Originally Posted by urbanlife78
And? Gas prices went down when the economy crashed, should the economy crash again so you can get more cheap gas?
It says 2 straight months of sub 5 percent growth. They have't hit 8 percent for the last 3 years so it's doubtful they are going to explode economically in the last half of the year. While the growth might be better than the U.S. it's still a slowdown.
sup 5 growth is still + growth..
its like saying gas prices fell last week $.20 and this week only $.10 and then saying gas prices are increasing..
So I can only assume Obama gets the credit for prices dropping seeing he gets the blame when they go up?
That is mashing the reasons of why. Obama isn't pushing for new drilling, and has held up the XLP. He is at war with coal, and has decimated the industry. Our boom is primarily from private land drilling, not public lands. Drilling permits on public lands have gone from a 2-3 month ordeal, to a 2-3 year (or more) ordeal. There is a minimum of ten ABC's that have to do studies and sign off on a permit, rather than the 4-5 before Obama.
Our boom is in spite of Obama, not because of Obama.
So, NO... he deserves zero credit, AND should be blamed for inhibiting the energy industry.
I think it's great that no matter how he tries to thwart industry, he still looks like the ideological fool that he is.
That is mashing the reasons of why. Obama isn't pushing for new drilling, and has held up the XLP. He is at war with coal, and has decimated the industry. Our boom is primarily from private land drilling, not public lands. Drilling permits on public lands have gone from a 2-3 month ordeal, to a 2-3 year (or more) ordeal. There is a minimum of ten ABC's that have to do studies and sign off on a permit, rather than the 4-5 before Obama.
Our boom is in spite of Obama, not because of Obama.
So, NO... he deserves zero credit, AND should be blamed for inhibiting the energy industry.
I think it's great that no matter how he tries to thwart industry, he still looks like the ideological fool that he is.
Hardly, those drillings on private land still have to be approved. And this boom has nothing to do with any president, neither do when prices go up. Presidents don't have control of the oil prices in this country.
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