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Just curious -
oil is traded on an international exchange driven ENTIRELY by free-market principles, beyond actual supply and demand; mostly by speculation.
What would you have the President do? Intervening in any way would be an 'overreach' or 'expansion' of big government, correct? And we all know how much they hate that.
Shouldn't conservatives be blissfully content with the unregulated freemarket forces that set our oil prices?
Axe grinding, just like when gas prices were high during Bush and people blamed him and Cheney and their oil buddies.
There are a whole bunch of people around here yelling about Bush's oil buddies....I almost want to check your past posts.
"The price of oil is... is attributed to two oil men in the White House and their protectors in the United States Senate," Pelosi said in an interview with CNN's Wolf Blitzer.
“When President Bush took office, gas prices were less than half of what they are today – and oil was less than one-third. Then, seven years ago, President Bush and Vice President Cheney secretly invited executives from the big oil and big energy companies to the White House to write our national energy policy. When we finally uncovered the truth, we discovered – to no surprise – that Big Oil helped write a law that guaranteed them billions and billions of dollars in tax giveaways while they set in motion disastrous economic and environmental policies that have served no one but themselves.”
Do the "oil men" Pelosi spoke of, oppose regulation of oil speculation? Then she was right. But if you say, that it isn't oil speculation that should be blamed, then please do tell what was going on then and now?
Are you saying there are people blaming Bush for today's oil prices?
Mostly it was for the high oil prices in 2008 but yeah, there are still people that blame Bush for current high oil prices because of his "oil buddies" and other factors.
People blame Obama or Bush etc. for pretty much any negative thing that happens in the US, the world or their personal life.
Just curious -
oil is traded on an international exchange driven ENTIRELY by free-market principles, beyond actual supply and demand; mostly by speculation.
What would you have the President do? Intervening in any way would be an 'overreach' or 'expansion' of big government, correct? And we all know how much they hate that.
Shouldn't conservatives be blissfully content with the unregulated freemarket forces that set our oil prices?
Barry is responsible for the supply of oil by imposing drilling moratoriums in this country. That triggers the speculators to forcast a shortage in supplies. When President Bush opened up drilling, the price of oil dropped like a rock and gas went from over $4/gal to $1.60.
Just curious -
oil is traded on an international exchange driven ENTIRELY by free-market principles, beyond actual supply and demand; mostly by speculation.
What would you have the President do? Intervening in any way would be an 'overreach' or 'expansion' of big government, correct? And we all know how much they hate that.
Shouldn't conservatives be blissfully content with the unregulated freemarket forces that set our oil prices?
Quote:
Originally Posted by Versatile
Any reason to SPEW hate towards him is fair game to them. Cannot stand a Black man being PTOUS.IMO This coming from a white guy by the way.
these posts are rubbish. low dollar value due to the fed printing money out of thin air, and other economic policies, and not allowing oil companies to drill where there is oil are huge parts of the problem. oil price speculation is a small part of the problem.
1.) His administration has been very unfriendly to domestic oil production (though he has no problems spending billions to help Brazil and Columbia drill and refine oil.) It was obvious before he took office that he was going to push policies that hinder oil companies and benefit green energy production, even if it caused energy prices to rise dramatically.
2.) He chose to focus on healthcare reform rather than fixing the economy, which was in deep recession when he took office. Numerous policies have weakened the dollar, thus raising the price of oil.
Gas was under $2/gal. when Obama was elected. The price of gas rose and fell much more naturally during Bush's years, but today they've steadily risen regardless of our poor economy, seasonal price fluctionations and high unemployment (which should lower demand). When we hit the peak gas prices in 2008, oil was nearly $150/barrel. Today it's right around $100 with gas still right under 2008's record peak price.
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