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It;s due to fracking which Obama tried to stop or at least curtail so I guess you're right it's actually more of an Obama double fail since he tried to prevent it and wasn't successful.
You're sure about that? Or did you pull that opinion nugget from some orifice?
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,389,283 times
Reputation: 40736
Quote:
Originally Posted by WaldoKitty
Gas near my house is $2.01/gallon. With inflation considered, this is the least expensive that it's ever been.
Sarah Palin was right. Drilling would bring down the price. There's so much gasoline now, the USA is an exporter!
On the other hand, Obama told us there would be a millions of electric cars on the road by now Spent 10s of billions to promote it. Yet there are only a tiny fraction. Another failure by Obama.
Your batting average is intact. Prices have been close to $1.50 in current economics.
And it si fracking that did it. A technical breakthrough and mostly drilling in old places not new.
That good news on fracking likely delayed Obamas million cars until 2020...but that is good news for the economy.
Fracking and increased technology gains are a big part, Saudi Arabia deciding on Thanksgiving Day (2014, I think) to keep pumping had a huge effect.
Funny think about OP's misinformation of a post: The US has stopped drilling because the price of oil is down, and we've actually capped a lot of our active wells. I'm in the oil industry, I attend oil conferences. If you want to check my info, go for it. Permian Basin continues to be the most productive oil/gas field in the US, and it's a "Mature field" (it's been there a LONG time). Eagles Ford in South Texas is productive. Most major oil fields are being forced BY ECONOMIC PRESSURES to condense to only the most productive wells, typically in the center of the field.
The downward oil prices are coming from advances in American Ingenuity, something that the right does not believe in. They think that US Business needs un-American protectionism to compete on the global scale, but the last four or five years have proven exactly the opposite.
The Saudis continued to pump, thinking they could flood the market and cause a crash in prices (which they did), but the US response was not to cave. Rather it was to increase efficiency and compete at the new, lower price-point. Now producers can make money at below $40/boe.
Anyway Ms Kitty, your post, as usual, is either a display of your misinformation, or a blatant lie. Not sure which, but either way, it's wrong again. (Quoted the post above, which is correct)
Isn't fracking for natural gas? Not petroleum which makes gasoline.
Quote:
Originally Posted by lvmensch
Both. It works on either
... and we've been doing it for decades. If you drive a car, or use electricity (much of which is go-generated from Natural Gas), you are a consumer of fracking....
(I'm one of those supposed left-leaning commies, but the truth is the truth. Saying you won't buy Fracked Gas is like saying you wont eat GMO's. It's no longer possible.)
Yep. And I can remember when gas was about 99¢ a gallon in the late 90s when Bill Clinton was POTUS. Not too long ago.
Quote:
Originally Posted by newdixiegirl
You're not too deep a thinker, are you, Waldo?
You seem not to understand "adjusted for inflation" either even though you claim deep thinking ability.
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