Gas prices could drop by 50 cents this summer

[gabosaurus]

But I am sure you will find some other bitch to replace this one. :)

http://hosted.ap.org/dynamic/stories/U/US_GAS_PRICES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-05-07-17-03-29

[Kathianne]

That would help, indeed. On the flip side, here that means 'down' to $4. a gallon. Still not close to affordable, but will still make underemployment better than not working at all, which is where we're now at.

[red states rule]

So I guess in your mind Gabby the "normal" average price is now $3.50 gal (and about $4.50/gal in some states) we should be happy?

Considering the average price of gas when Obama took office was around $1.80/gal, the drilling ban in the Gulf is still on, and Obama said the US wants to be the biggest customer of oil from Brazil is it any wonder the price is so high?

Or am I nit picking again Gabby?

[logroller]

I know people just want cheap gas, but the reality is our gas prices are significantly lower than the rest of all other net importing countries. Canada actually pays more than we do, and they're an exporting country!

[fj1200]

I know people just want cheap gas, but the reality is our gas prices are significantly lower than the rest of all other net importing countries. Canada actually pays more than we do, and they're an exporting country!

That's a tax issue, not availability.

[logroller]

That's a tax issue, not availability.

and our price increases are more due to monetary policy than availability, though pump prices reflect all the above. Dejavu...haven't we had this conversation before?:coffee:

[fj1200]

and our price increases are more due to monetary policy than availability, though pump prices reflect all the above. Dejavu...haven't we had this conversation before?:coffee:

Not this part apparently. ;) The dollar cost of oil is up for everyone then add taxes on top of that, so the relative cost of gas will always be the same.

But yes, oil prices are mostly due to monetary policy although certain recent governmental policies are adding upward pressure.

[gabosaurus]

Hey RSR, did you realize that gas prices went from around $2 per gallon to about $4.50 pg while Dubya was in office? Primarily cos of his war and all.
Or perhaps cos Big Oil likes to gouge us every so often.

http://i54.tinypic.com/29ft8a1.gif

[fj1200]

Hey RSR, did you realize that gas prices went from around $2 per gallon to about $4.50 pg while Dubya was in office? Primarily cos of his war and all.
Or perhaps cos Big Oil likes to gouge us every so often.

No, and no.

[gabosaurus]

You haven't seen Big Oil's profits lately.

[fj1200]

I have, they are extremely large corporations. Have you noticed their profit margins lately?

[red states rule]

Hey RSR, did you realize that gas prices went from around $2 per gallon to about $4.50 pg while Dubya was in office? Primarily cos of his war and all.
Or perhaps cos Big Oil likes to gouge us every so often.

http://i54.tinypic.com/29ft8a1.gif

and when he left office gas was arounf $1.80/gal

Libs like you and the liberal media blamed Bush daily for the high gas prices - now with Obama in office - it is only the oil companies fault

NOT Obama's anti drilling policies

Speaking of gouging Gabby - you do know government adds about 65 cents to the cost of gallon of gas via taxes - right?

[red states rule]

You haven't seen Big Oil's profits lately.

and you have not seen their tax bill lately

http://static.seekingalpha.com/uploads/2011/4/29/saupload_exxon_1.jpg

How about $1 million per hour in taxes for Exxon?

I know Gabby - NOT ENOUGH!!!!!

[red states rule]

That's a tax issue, not availability.

http://media.townhall.com/Townhall/Car/b/gv050811dAPR20110509044526.jpg

[Trigg]

Hey RSR, did you realize that gas prices went from around $2 per gallon to about $4.50 pg while Dubya was in office? Primarily cos of his war and all.
Or perhaps cos Big Oil likes to gouge us every so often.


You're right gabby, gas did go up while Bush was in office and it sparked a massive recession that we are barely pulling ourselves out of.

The difference between now and then is that unemployment is at 9% and almost 30% of homeowners are upside down on their mortgages. People are even less likely to be able to afford the higher prices than they were back then.

If bambam doesn't get a hold on spending and oil prices we will have another recession.

http://www.bloomberg.com/news/2011-05-09/u-s-underwater-homeowners-increase-to-28-percent-zillow-says.html


Homeowners with negative equity increased from 22 percent a year earlier as home prices slumped 8.2 percent over the past 12 months, the Seattle-based company said. About 27 percent of homes with mortgages were “underwater” in the fourth quarter,

[gabosaurus]

How much of the current mortgage problem is relation to the Dubya administration's failure to oversee banks and other lending organizations as they made risky loans and allowed huge mortgage deals that were guaranteed to fail.
The whole fiasco never came to light until late in Dubya's second term, during which he did nothing. He knew the mountain would come crashing down after he left office.

[fj1200]

How much of the current mortgage problem is relation to the Dubya administration's failure to oversee banks and other lending organizations as they made risky loans and allowed huge mortgage deals that were guaranteed to fail.
The whole fiasco never came to light until late in Dubya's second term, during which he did nothing. He knew the mountain would come crashing down after he left office.

Zero. Did you notice the efforts they made to regulate Fannie and Freddie well before the crisis only to be rebuffed by Congress?


Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. (http://www.usnews.com/opinion/blogs/barone/2008/10/06/democrats-were-wrong-on-fannie-mae-and-freddie-mac)

He did nothing? Do you recall TARP?

This one's kind of cool too.

_MGT_cSi7Rs

[red states rule]

How much of the current mortgage problem is relation to the Dubya administration's failure to oversee banks and other lending organizations as they made risky loans and allowed huge mortgage deals that were guaranteed to fail.
The whole fiasco never came to light until late in Dubya's second term, during which he did nothing. He knew the mountain would come crashing down after he left office.

So you want to change the subject from gas prices to the housing issue?

Well Bush and Republicans did try to reform Fannie and Freddie - and Dems said there was no problem

If fact MORE loans needed to be granted according to Deme

<iframe width="425" height="349" src="http://www.youtube.com/embed/cMnSp4qEXNM" frameborder="0" allowfullscreen></iframe>

[red states rule]

Zero. Did you notice the efforts they made to regulate Fannie and Freddie well before the crisis only to be rebuffed by Congress?



He did nothing? Do you recall TARP?

This one's kind of cool too.

_MGT_cSi7Rs

http://media.townhall.com/Townhall/Car/b/lb0511cd20110510033925.jpg

[gabosaurus]

Silly boy. You have so little common sense. All you are doing is regurgitating GOP factoids. You have no clue about what is really going on.

[fj1200]

Silly boy. You have so little common sense. All you are doing is regurgitating GOP factoids. You have no clue about what is really going on.

The specificity with which you reply is simply astounding. :rolleyes:

[red states rule]

Silly boy. You have so little common sense. All you are doing is regurgitating GOP factoids. You have no clue about what is really going on.

What is regurgitating Gabby is the never ending demand for taxpayer money to pay for the Dems demand of making home ownership a "right" and not something one works to earn

The tab keeps growing




snip

At ProPublica, we've provided a comprehensive bailout database [4] since TARP's launch. It shows not only how much money has gone to each recipient [4], but how much each has paid in interest and dividend payments. With all this data, we're able to clearly show how deep in the hole the program remains [5]. And the answer as of today is $123 billion.

Add that to the bailout of Fannie Mae and Freddie Mac -- which our site also tracks and is separate from the TARP -- and taxpayers are $257 billion in the hole [5].

Although the bailout has extended to nearly a thousand institutions, just a few are primarily responsible for the continued deficit: Fannie and Freddie [6], of course, AIG [7], and the auto companies (GM [8], Chrysler [9], GMAC [10]).

As for Fannie and Freddie, no solution seems imminent. They're currently $134 billion in the red (counting their dividend payments) -- more than the entire TARP. Congress and the administration are in the initial stages [11] of discussing how the companies should be wound down and how much of the investment could be recouped.


http://www.propublica.org/article/behind-administration-spin-bailout-still-123-billion-in-the-red

[jimnyc]

RSR, please don't post any more videos of Barney Boy, that fruity froot loop makes me want to vomit every time I hear his whiny lying voice.

But to the subject, I filled up earlier today here in Westchester, NY and the cheapest was $4.37 for regular.

[red states rule]

RSR, please don't post any more videos of Barney Boy, that fruity froot loop makes me want to vomit every time I hear his whiny lying voice.

But to the subject, I filled up earlier today here in Westchester, NY and the cheapest was $4.37 for regular.

I will try Jim but Ol' Barney provides some comedy

As far as gas prices, there are other factors to consider before we drill Jim




Saving the Dunes Sagebrush Lizard Could Endanger Oil Production, Lawmakers Say

The push for federal protection of the dunes sagebrush lizard -- a tiny 3-inch reptile -- is causing big headaches for oil drillers and ranchers who say doing so will kill their livelihood.

Oil company owners say they support conservation, but fear what will happen to the economy if the brakes are put on local oil production.

“This could cripple what is now a very healthy job environment,” said Douglass Robison, president of ExL Petroleum in Midland, Texas.

The dunes sagebrush lizard lives off of a shrub called shinnery oak in the Permian Basin, which cuts through New Mexico and West Texas -- and is also one of the richest resources of oil and gas in the United States.

Environmental groups say that oil production has destroyed much of its shinnery oak, which has led to a dramatic decline in the lizard’s population.

http://www.foxnews.com/politics/2011/05/10/saving-dunes-sagebrush-lizard-kill-oil-production/

[Kathianne]

RSR, please don't post any more videos of Barney Boy, that fruity froot loop makes me want to vomit every time I hear his whiny lying voice.

But to the subject, I filled up earlier today here in Westchester, NY and the cheapest was $4.37 for regular.

Chicago avg is $4.514 how's that for depressing? It's not worth going to work right now.

[red states rule]

And Harry Reid is not worried about the price of gas. House Republicnas voted to end the drilling ban - but Ried says the bill will ot be voted on in the Senate




With almost 98 percent of America's offshore oil off-limits to drilling, and sustained gas prices nearing $4 a gallon, congressional Republicans say only one thing is keeping America from tapping into its offshore resources -- President Obama.

On Wednesday, Congress will consider a bill to void that. The House is expected to pass H.R. 1231, a bill titled, "Reversing President Obama's Offshore Moratorium Act".

Here's what it would do:

-- Require the administration to allow drilling in at least 50 percent of the Outer Continental Shelf areas known to contain the most oil and gas. Specifically, that means southern California, the Arctic, mid-Atlantic and Eastern Gulf of Mexico.

-- Open up other areas in the southern Atlantic and allow governors there to to opt in to the plan if they chose.

-- Require the federal government to establish production targets for oil and gas. Currently, that would mean 3 million barrels a day of oil, or roughly three times more than the U.S. currently produces from offshore sources.

The bill is one of three recent pieces of legislation aimed to open up coastal waters that Obama declared off-limits in a seeming reversal of his own policy.

Less than three years ago, a Democratically-controlled House and Senate lifted a 27-year congressional ban on offshore drilling off the Atlantic, Pacific and Arctic. The move was accompanied by then-President George W. Bush announcing he was lifting a presidential ban on offshore drilling imposed by his father, former President George H.W. Bush, and renewed by Bill Clinton.

http://www.foxnews.com/politics/2011/05/11/energy-america-house-votes-lift-offshore-oil-moratorium/

[red states rule]

Chicago avg is $4.514 how's that for depressing? It's not worth going to work right now.

http://media.townhall.com/Townhall/Car/b/110512beelertoon_c20110512121744.jpg