“My Plan Will Make Energy Prices Skyrocket”

Finally, Obama delivers on a campaign promise.

About stevengoddard

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82 Responses to “My Plan Will Make Energy Prices Skyrocket”

  1. Dave G says:

    Finally, the Hope & Change we were looking for

  2. Amino Acids in Meteorites says:

    The funny thing is people are excited about it. They love his face on high gas prices. they are falling all over themselves to fill up at the Obama gas stations. The prices can’t be high enough to keep them away!

    Put Obama’s face on something and you can raise the price as much as you want, you can tag a high tax on it too, an Obama tax, and people (some people)will still love it.

  3. Amino Acids in Meteorites says:

    Obama saves them!

  4. Amino Acids in Meteorites says:

  5. Amino Acids in Meteorites says:

  6. Amino Acids in Meteorites says:

    I’m here to get my Obama money! This is not a comedy skit. It really happened in Detroit.

  7. Andy Weiss says:

    My bank account needs some serious stimulus. Where do I apply?

    • glacierman says:

      Are you qualified to study the devastating effects of warmcold, or droughtflood? Have you discovered a worm who’s habitat may be threatened? Can you give good facetime to reporters while talking doom and gloom? If so, you are eligible for a grant.

      If not, too bad, go be productive so you can help pay for all those who play the climate change game.

  8. Sundance says:

    I wonder if animals in the wild ever wish they could be captured and put in a zoo? Afterall in the zoo you’re fed and cared for and you never have to worry about your actions, decisions ,choices, etc.

  9. suyts says:

    Bobama saving the day with skyrocketing gas prices!! Thanks Bobama man!

    Bobama man, killing the U.S. economy one policy at a time.

    • Amino Acids in Meteorites says:

      And he wants 4 mores years. He says 8 is enough. Yes, it’s enough to bring America to the point of riots over high prices. But the rioters will probably blame Bush, not realizing it was Obama wot did it.

      Maybe Obama will end up making the Carter years look like something we wish we had back.

  10. Daniel Packman says:

    The original quote referred to was about cap and trade which hasn’t been implemented and in any case has nothing to do with current gas prices.

    • There is more than one way to skin a cat.

    • suyts says:

      Sure it does. The purpose of both are the same.

      • Daniel Packman says:

        Current gas price increases are due to international events. According to T. Lundberg: The demand in developing countries has been pushing crude oil prices up in general, as has the weakening U.S. dollar, she said. Libya’s loss of production amid the turmoil in the country has also helped push prices up, Lundberg said.

        Of course, you can make stuff up and believe it if you want.

      • Amino Acids in Meteorites says:

        Daniel,

        and who exactly was it that exploded the problem in Libya? Never forget: Libya is Obama’s war. He acted completely unilaterally in it. So Obama IS the problem!

      • suyts says:

        Yeh Daniel, and the Court defying moratorium on drilling in our gulf probably didn’t effect global supply of crude…….. right? Or, our refusal to open up ANWAR……. or the EPA’s denial of Alaska off-shore drilling because they forgot to do an environmental impact study on what effect the boats would have on a nearby village.

        Please pay attention to events that are occurring. The only question I have, is how in the world do people such as yourself believe this to be happenstance?

      • HopeyChangey says:

        Daniel,

        Crude oil is traded in US Dollars. When Federal Spending exceeds tax receipts by 1.5 TRILLION, that money has to come from somewhere. We sell Bonds (We borrow it). But who has 1.5T per year to lend, when WE are the largest economy in the world? Not China, not anyone. Not even collectively. So the Federal Reserve has to create Magic money….to lend to ourselves, so we can pay for all that spending. The oil market sees this, and realizing this devalues the dollar, seeks more dollars in trade for a barrel of oil. Obama is directly responsible for the oil prices you see today by this mechanism.

      • Amino Acids in Meteorites says:

        Daniel Packman

        Obama has nothing to do with gas prices? Ok, I get it, you’re a Democrat.

      • Amino Acids in Meteorites says:

        HopeyChangey

        What could be a serious problem for America is if Japan doesn’t recover from the tsunami on the schedule they are forecasting, but takes longer, they may want to cash in their US debt bonds so they have money to boost a recovery for themselves. If America has to come up with the money to pay them back it take a huge bite out of the American economy and will cause a worse crash than 1929. I am afraid there would be chaos in America where the National Guard would have to be called out to put it down.

        At some point the piper is going to come calling on this blinding debt America has—debt which President Obama wants to make even bigger.

      • Daniel Packman says:

        Lots of unsupportable “it is Obama’s fault.” Look at the cost of oil vs the cost of gas and you will see unpredictable markets at work.

      • Amino Acids in Meteorites says:

        Was it Bushes fault when gas prices shot up back in March to June of 2008?

      • Amino Acids in Meteorites says:

        Bush’s

      • Amino Acids in Meteorites says:

        Daniel Packman

        You’re right Daniel, NOTHING is Obama’s fault.

        Can you imagine if Bush’s face was put on the front of a gas station back in May of 2008 when gas prices were the same as now? People would be screaming about the awful Bush policies that caused gas prices to skyrocket.

        But not fault can be seen anywhere on the horizon for Obama with some people. Just ask Daniel. He’ll tell you, “It is not Obama’s fault”.

        Cheney must be at fault because of his book, ya, that’s what it is.

      • Amino Acids in Meteorites says:

        Daniel Packman

        So now you blame something else. First you said it was the Middle East, among other things. Now you say we have to look at the cost of oil and compare it to the cost of gas.

        You changed you song in the space of 1 hour and 43 minutes.

        Now it’s the market.

        In less than 2 hours will you be blaming something else?

      • Amino Acids in Meteorites says:

        Daniel Packman says:
        May 19, 2011 at 5:54 pm

        Current gas price increases are due to international events. According to T. Lundberg: The demand in developing countries has been pushing crude oil prices up in general, as has the weakening U.S. dollar, she said. Libya’s loss of production amid the turmoil in the country

        the weakening U.S. dollar —Obama’s fault for adding 2 trillion dollars to the debt plus all of his money printing, both thus weakening the dollar

        Libya’s loss of production amid the turmoil in the country— Obama’s fault because Libya is his war, he acted completely unilaterally, completely independent of other branches of government, he started that war all on his own, so the production problems in Libya rest solely on him

        You see? It IS President Obama’s fault.

        That’s a tough thing for a Democrat to come to terms with, I know.

    • Latitude says:

      So taxing or dropping subsidies to oil and gas right now….
      …is going to help the economy, how?

      Are people so stupid to think they won’t pass that right on to the customer?

      (there’s absolutely no need to qualify that question, I know the answer already)

      • suyts says:

        Yeh…. they walk among us.

      • Scott says:

        I normally don’t comment on political issues, but….

        Dropping government subsidies on fuels are fine by me.

        -Scott

      • suyts says:

        Me too, Scott. But the timing is very questionable. Why don’t we wait until unemployment drops down below 5%? The American people, especially the working poor can ill afford another hit.

      • Amino Acids in Meteorites says:

        James,

        I think the only way to get unemployment that low again is to have illegal aliens deported. Dick Morris has a good idea on how to do it. Just put employers that hire illegals in jail. Other employers with illegals won’t want to go to jail so they will let all their illegal employees go. Without work there is no reason left for the illegal aliens to stay since the only reason they came in the first place is money. So they will go back to their countries of their own volition, not costing American citizens a penny.

      • suyts says:

        I’ve long been an advocate of just that. Imprison the ones that hire them. Personally, I’ve no qualms with someone trying to come to the States. This is a great country and if I lived in a poverty stricken, freedom inhibiting nation, other than attempting to change the nation I was living in, I too, would attempt to get here.

        That said, you’re correct, its an incredible strain on both wages(pushing them downward) job market, our tax roles and entitlement expenditures. We simply can’t afford it any longer. And, like you state, if we cut off entitlements and jobs, there would be no reason to stay or come here to begin with. Coincidentally, it is likely that action would cause an improvement in the illegals country of origin.

        Simple fixes that would never see the light of day.

      • Amino Acids in Meteorites says:

        Simple fixes that would never see the light of day.

        Ahhh, you had to say that.

    • Daniel Packman says:

      Yes, you are right. I was the cap and trade bill that hasn’t been passed but was mentioned 3 years ago that is behind the current increase in gas prices.

      • glacierman says:

        Or this: Obama Administration Imposes Seven-year Drilling Moratorium

        http://thenewamerican.com/index.php/usnews/politics/5360-obama-admin-imposes-7-year-drilling-moratorium

      • suyts says:

        lol, I think you’re replying to Lat, but I’ll respond to you….cause I’m a nice guy. 🙂 I’ll combine a couple of my comments so they can be a bit more coherent. And trim and add around the edges.

        Sure it does. The purpose of both are the same. He didn’t get tax-n-trade through, so he’s shooting for the next best thing.

        Consider, the Court defying moratorium on drilling in our gulf, or our refusal to open up ANWAR……. or the EPA’s denial of Alaska off-shore drilling because they forgot to do an environmental impact study on what effect the boats would have on a nearby village.

        The only question I have, is how in the world do people such as yourself believe this to be happenstance?

        Daniel, I don’t think the mid-east unrest is Obama’s fault, but his actions didn’t help anything either, so, unlike some others here I’ll give him a pass. But the above mentioned is demonstrably his or his administrations actions and in-actions. While I gave him a pass on the mid-east, no one can give him a pass on not preparing for the increase of demand for oil in developing nations. Its been happening for quite some time and it is dangerous, reckless and wholly irresponsible not to do the things necessary to ensure this nations economy can move forward. And, as I mention earlier, these actions and in-actions are consistent with many of the voices of the left.

        Now, we’re reaping what we’ve sowed. Well, we being all inclusive of the people of this nation in reference to “reaping”, we in reference to “sowing”? That would belong to the lunatic fringe on the left.

        You know, the thing that get’s me, I’ll do ok, I’ve got a good job and its as safe as one can have these days. But I look around, and there are many who aren’t fairing as well. The utility company where I work, we have our chronic non-pays, but lately we’re getting non-pay from people that haven’t been so much as late on a payment for 5,6,7 years! Which btw, new coal plant builds are still being blocked in every direction, so even though cap/trade got blocked, he’s still pushing the price of electricity up anyway. Couple that with the price of oil, (yes there is much speculation that drives the price up, but not drilling here plays directly into that.) and gas, throw in some high jobless rates, and underemployment, and we’ve got a struggling group of people…….. mostly the working poor and young families.

        This madness has to stop.

        James

      • glacierman says:

        Almost everyone of my liberal/progressive friends have at some point let out that they think gasoline should be 6, 8, or 10 dollars a gallon. A few of them were geologists and thought this might help with their salaries, but most say that it is because no one will change the way we live, drive, etc. so we have to make it punitive to continue to live this way and that will force them to “do the right things”. This is a cornerstone of liberal/progressive belief system. Obama has stated pretty much that exact thing. He said he didn’t mind 4 dollar a gallon gasoline, but was a little worried with how fast it got there.

        Man, I am glad I am not that nuanced.

      • Daniel Packman says:

        You do understand that we can, with domestic production, eventually decrease the per barrel cost of petroleum by as much as 3 cents? The drill baby drill crowd seems to need to think a bit more.

      • Amino Acids in Meteorites says:

        Daniel Packman says:
        May 19, 2011 at 9:32 pm
        You do understand that we can, with domestic production, eventually decrease the per barrel cost of petroleum by as much as 3 cents

        What I do understand is that you believe and distribute propaganda.

      • Daniel Packman says:

        Propaganda is “drill baby drill”. 3 cents is a fact.

      • suyts says:

        Daniel, that depends on what you conceive where its coming from. From $100/barrel, your statement is demonstrably wrong. The reason the price is up is because of speculation. Were we to increase crude production the speculation would decrease and the price would be less volatile. I think your 3cent number is coming from if the price were about $20-$25/barrel, in which case, I’m good with that. But yeh, it’s still low-balling it.

      • suyts says:

        Daniel, you’ve been playing this game long enough to know facts don’t count without links…….. lay it on them!

        Me, I’m off to test the calculus of spheres on planes!

      • Daniel Packman says:

        Our domestic production increase is in the global production noise. http://money.cnn.com/2011/04/25/news/economy/oil_drilling_gas_prices/index.htm

      • Amino Acids in Meteorites says:

        Always negative on America, hey Daniel? Typical Democrat.

      • Daniel Packman says:

        Dealing with reality is “negative on America”? Bizarre.

      • Amino Acids in Meteorites says:

        Your reality.

        You are filled to the teeth with left wing propaganda.

        You should find a distraction from the politics that your mind has been packed to capacity with. Go outside. Take a walk. Listen to the birds sing. Watch a funny movie. Read a book that is totally unlike you to read.

        I.e., save yourself from the political indoctrination that controls your paradigm.

      • Amino Acids in Meteorites says:

        Daniel Packman says:
        May 19, 2011 at 10:46 pm

        Propaganda is “drill baby drill”. 3 cents is a fact.

        No, it is hatred of Sarah Palin.

      • suyts says:

        Daniel,

        Did you read the link you provided? That’s the most asinine piece of fictional humor I’ve seen in a while. And, to be honest, I expected more than that from you.

        First, it makes assumptions that it can’t possibly know is true. Secondly, it “proves” its case by the very things we oppose.

        Oddly, it’s largely because of high prices that this new production is possible. The deepwater drilling, shale rock extraction and other techniques used to increase production are pricey endeavors.”

        Who in the fick do you think makes them deepwater drill? I’ll give you a hint…..it ain’t the fck’n oil companies that want to do that!!! WTF?

        Then they later pretend this is a jobs program? Really? Did you link this or did someone hijack your pc?

        More, the idiotic article let slip exactly what we’ve been saying!!!!

        It’s also been good for oil companies. Thanks to lower taxes, companies generally make much more money on a barrel of oil produced in the United States than they do from North Sea or Middle East crude.”………. Yeh, that would really suck to have more here. Did you catch that? The oil companies are paying more to drill over seas than they are here. All we have to do is let them!!!

        “She said it would create another 500,000 jobs, add $150 billion each year to government coffers and shave a significant chunk off the country’s foreign trade deficit.”

        Let’s say she lied and she doubled the estimates……….yeh that would suck………. you still sticking by the .03 cents a gallon? Your own link is total bullshit.

        Dan, I don’t often engage with you, mostly because what I’d say would be redundant. But I do read what you state and even the links you provide. Often you present good arguments which causes people to think. This isn’t one of those events. In fact, the link you provided was an entire waste of time for anyone that bothered to click on it.

        Let’s try to stick with reality, shall we?

    • nightshadel says:

      When did you last look at the TAX element of gas and diesel prices? Here in Europe, the TAX is somewhere in excess of seventy percent of the price at the pump

  11. Paul H says:

    Daniel

    You are missing one very important point. While international pressures are certainly pushing prices up, the collapse of the dollar is making prices even higher in the US.

    Obama cannot escape responsibility for this.

    • Printing trillions of dollars of worthless bills doesn’t help?

      • Amino Acids in Meteorites says:

        I think devaluing the dollar is part of Obama’s plan to knock America down a few pegs while he is President.

        Besides gas, has anyone noticed prices going up? I went out for some groceries yesterday–I SAW IT! Inflation from all the money printing that started 2 years is hitting. It has a delayed effect just like the delay in the effect of ENSO on temperatures. Money has been getting printed for 2 years so the delayed effect should continue to last for about 2 years. Hopefully the round of money printing (QE2) that just ended will be the last. But hey, I don’t want to sell Washington short. Got economic problems? Just print more money, till all the trees are gone!

        Jim Rogers, on printing money debasing the U.S. dollar, crash coming

      • suyts says:

        I’ve been noticing. The only way to stop the devaluation of the dollar is to start making some moves to lower the debt and the trade deficit. Else, it will continue its spiral.

      • Amino Acids in Meteorites says:

        The bottom won’t be pretty.

        But it will be the start of real change in America. It may make America finally admit that the continual move to the political left over the last 50 years has caused it all. The pendulum could swing far to the political right where there is small government, all branches of government being put in their proper place, and enforcement of laws. That will result in freedom to pursue life, liberty, and happiness. 🙂

        The only thing to be careful of then is the pendulum swinging out of control to the right. That could end up just as bad as this current swing too far to the left.

      • Daniel Packman says:

        The valuation of the dollar is set in global financial markets. If you want to complain about a country messing with the value of their currency, look to China.

      • Amino Acids in Meteorites says:

        stevengoddard says:
        May 19, 2011 at 6:16 pm

        Printing trillions of dollars of worthless bills doesn’t help?

        “Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.”

        ~Milton Friedman

      • Amino Acids in Meteorites says:

        Daniel Packman says:
        May 19, 2011 at 10:49 pm

        The valuation of the dollar is set in global financial markets. If you want to complain about a country messing with the value of their currency, look to China.

        Staggering, Daniel, just staggering. You are a financial genius! Now it’s not Obama’s fault, it’s China.

        Who will you blame next. Wait, don’t tell me, anyone but Obama!

      • Daniel Packman says:

        International monetary rates don’t respond to domestic blame. Debt load of the US has increased as a percent of GDP but so has it for other countries.

      • Amino Acids in Meteorites says:

        So when the economy was relatively good in the 80’s it was because of China?

      • Amino Acids in Meteorites says:

        Daniel Packman says:
        May 19, 2011 at 11:51 pm

        Debt load of the US has increased as a percent of GDP but so has it for other countries.

        Huh, strange, I hadn’t noticed a proportional growth in GDP to Obama’s 2 trillion in new debt. You should check your math on that statement you made. Because as it is now it looks just like political propaganda.

  12. PhilJourdan says:

    There are a lot of things you can say about Obama that are not good. But give credit where credit is due. He said he wanted higher prices and the made sure we got them.

  13. Andy Weiss says:

    Where can I get some of those printed dollars? Maybe we should all start printing dollars and we will all can be rich!

    That wil fix the economy in the blink of an eye, without even having to apply for an AGW study grant (and in doing so, having to repeatedly parrot “it’s much, much worse than we thought”).

  14. Al Gored says:

    All this talk about printing trillions of dollars is ridiculous. Possibly even racist.

    They don’t print them. They just add zeros on a computer screen. Paper is too expensive.

    I don’t blame Obama. I blame the people pulling his strings. The same people own the Fed.

  15. Al Gored says:

    One thing seems to be missing from this discussion. At $80 or even better $100 oil, the oil sands in Alberta have enough supplies to last a very, very, very long time.

    Its not peak oil. Just peak cheap oil.

  16. Red Jeff says:

    Although my info is not up to date ie. a month old but do the research yourself for accuracy… The ‘normal’ price difference for world oil is as follows: Saudi Basket $x, Brent $(x+5) (European oil) and West Texas Intermediate $(x+10) (North American) all per barrel. Because of a glut in N American oil, filling up the storage facilities the price prior to upsurge was Saudi $110, Brent $108 and WTI $100 even. We don’t even buy Lybian oil in N. America! http://tonto.eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMLY2&f=A 43,000 barrels/day. As a comparison Trinidad and Tobago sells the US 45,000 barrels/day! http://tonto.eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMUSTD2&f=A Biggest surprise? only 2,000 barrels/day from the United Arab Emirates!

    For a historical record of US imports… http://tonto.eia.doe.gov/dnav/pet/PET_MOVE_IMPCUS_A2_NUS_EPC0_IM0_MBBLPD_A.htm

  17. PhilJourdan says:

    Daniel Packman says:
    May 19, 2011 at 9:32 pm

    You do understand that we can, with domestic production, eventually decrease the per barrel cost of petroleum by as much as 3 cents? The drill baby drill crowd seems to need to think a bit more.

    Hmmm…there seems to be some kind of contradiction in your belief system. or perhaps I am just projecting what others on that side of the aisle believe onto you?

    If we believe that the main part of the gas price run up now is due to speculation (that has been the screed coming from the left), then by developing additional fields – that are not subject to unstable regimes policies – the speculation is the flow of oil would be more stable – and the speculation is that with a stable supply, demand would be satisfied – and the speculation is that speculators would not bit up the price by 20, 30 or even 50% when some tin plated dictator starts shooting his people.

    That being said, let’s just take the low end of the speculation – 20%. While a barrel of oil is not a gallon of gas, it is the major factor in the price, so let’s just say for the sake of conservatism that reducing the price of oil by 20% would decrease the price of gas by 15%. The current price of $4 per gallon would be reduced by 60 cents, not 3 cents.

    So that begs the question – where did you get your 3 cents from? Clearly there is no basis in facts or reality for the 3 cents. A VERY conservative estimate is 60 cents. And it could be as high as $2/gallon. Now for a price drop of $2/gallon, why not drill? It seems that the only people that do not want that to happen are the enviro-whackos (who are the honest ones) and those who just want to control every facet of our lives – in other words – to paraphrase a great american – “Deny me Liberty and Give me death!”.

    IS that what you want?

  18. PhilJourdan says:

    Amino Acids in Meteorites says:
    May 19, 2011 at 11:48 pm

    Staggering, Daniel, just staggering. You are a financial genius! Now it’s not Obama’s fault, it’s China.

    Amino – when did Bush become Chinese? 😉

  19. Red Jeff says:

    Escaping Moderation Hell… “Although my info is not up to date ie. a month old but do the research yourself for accuracy… The ‘normal’ price difference for world oil is as follows: Saudi Basket $x, Brent $(x+5) (European oil) and West Texas Intermediate $(x+10) (North American) all per barrel. Because of a glut in N American oil, filling up the storage facilities the price prior to upsurge was Saudi $110, Brent $108 and WTI $100 even. We don’t even buy Libyan oil in N. America! http://tonto.eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMLY2&f=A 43,000 barrels/day.

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