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You're just wrong. It's known by people who know a lot more about this stuff than you and I. The oil prices are going up precisely for this reason -- and also because of rampant speculation. Again, the Fed knows about this; Lehman knows about this; and I'm sure other banks and financial institutions know this as well. Your continued banging on about Obama might make you feel better, but trust me, you're not helping yourself or anyone else pay less at the pump. Only being an informed voter can change that. Oil and markets have no political party affiliation.
What you write is simply untrue. The commodidites markets don't set prices by guessing, but by market factors increase demand and possible disruption of supply since most of the worlds oil comes from the most unstable rgion on the planet.
U.S. gasoline consumption began declining in 2008, by almost 99 million barrels from the previous year, and another 10 million barrels in 2009.1 Paradoxically, the United States began importing more gasoline─81 million barrels in 2009.2 U.S. renewable fuel production (in the form of ethanol) exceeded 256 million barrels, and ethanol imports added nearly 4.6 million barrels.3
Over the last 25 years, the ºAPI gravity of imported crude oils has been decreasing while average sulfur content has been increasing. ºAPI gravity, a measure developed by the American Petroleum Institute, expresses the “lightness” or “heaviness” of crude oils on an inverted scale.13 With a
diminishing supply of light sweet (low sulfur) crude oil, U.S. refineries have had to invest in multi-million dollar processing-upgrades to convert lower-priced heavier sour crude oils to high value products such as gasoline, diesel, and jet fuel. Refer to Table 2 for a comparison of various crude oil ºAPI gravities and sulfur contents.
No its not. It must also demand the international community to join hands and regulate speculation which is a part of the problem. Germany tried it in 2008, and that attempt fell on deaf ears.
He's doing nothing to bring them down. He's doing everything to force gasoline prices higher. He lies.
He's doing nothing to bring them down. He's doing everything to force gasoline prices higher. He lies.
Nonsense. But then, you may have ideas on how to bring it down. Shoot!
Never mind this brilliant idea that can come only from people like you that pushing for higher prices on one of the most sensitive piece of US economy is a great idea in an election year. Given that, I take my previous request back... don't bother!
He's doing nothing to bring them down. He's doing everything to force gasoline prices higher. He lies.
Why would the POTUS be causing the gas prices to go up in an election year? His ratings are dropping because of the gas prices. I think some might say that the Repubs are behind this to make the POTUS look bad during an election year.
Please give examples as to why you are right.
Obama WANTS very high oil prices. They spiked when he was elected, and have been super-high ever since. That's coincidence?
How about drilling here, instead of giving away Alaskan islands so Russia can drill for oil to sell to us; and instead of giving South American nations funds to drill for oil that they'll also sell to us at a huge profit.
Does this guy think he's the President of the World, and we American taxpayers are the slave labor?
Obama WANTS very high oil prices. They spiked when he was elected, and have been super-high ever since. That's coincidence?
How about drilling here, instead of giving away Alaskan islands so Russia can drill for oil to sell to us; and instead of giving South American nations funds to drill for oil that they'll also sell to us at a huge profit.
Does this guy think he's the President of the World, and we American taxpayers are the slave labor?
YA! Obama should interfere in business and corporations and control and regulate the heck out of them and cut their profits and lower the gas prices
No, Obama should cut regulations, leave the free market alone ..profit is everything....and lower gas prices...
OK, Repugnants, which is it?
Repugnants? Do your parents know you are using the computer?
So who suggested government interfere?
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