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GAS PRICES
Topic Started: Feb 16 2012, 07:22 PM (7,982 Views)
Baldo
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Chu gives himself high marks on gas prices, drawing criticism

:roflmao: :roflmao: :roflmao:

That's a good one!

These guys are so out of the loop of life in America.
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LTC8K6
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Assistant to The Devil Himself
Baldo
Mar 21 2012, 11:01 AM
Chu gives himself high marks on gas prices, drawing criticism

:roflmao: :roflmao: :roflmao:

That's a good one!

These guys are so out of the loop of life in America.
That's what amazes me.

The Obama admin, and Obama in particular, seem to be totally unfamiliar with the real world.

I don't think I have ever run into anyone who seemed to have such a disconnect from everything around them.

It's not even about being rich, either. It's beyond that.

It's very odd.

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Kerri P.
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http://www.wral.com/news/national_world/national/story/10887797/
Obama to fast-track oil pipeline, other projects
Posted: 9 minutes ago
Updated: 4 minutes ago

BOULDER CITY, Nev. — President Barack Obama will direct federal agencies to fast-track an oil pipeline from Oklahoma to Texas, backing a segment of the larger Keystone XL project that he rejected earlier this year.

The 485-mile line from Cushing, Okla., to refineries on Texas' Gulf coast would remove a critical bottleneck in the country's oil transportation system, as rising oil production has outgrown pipelines' capacity to deliver oil to refineries.

Obama's directive, to be announced Thursday, also would apply to other pipelines that alleviate choke points. It will be issued along with an executive order requiring agencies to make faster decisions on other infrastructure projects.

For Obama, the announcement provides an answer to Republicans who say his energy policies, including the rejection of the larger Canada-Texas pipeline, have contributed to high gas prices and destroyed jobs.

The longer 1,700-mile pipeline became a political flashpoint late last year when congressional Republicans wrote a provision forcing Obama to make a decision, and environmental groups waged a campaign to kill the project. In January, Obama delayed it, saying the deadline didn't leave enough time for review.

The issue has become a central focus in the heated political fight over energy development in the 2012 election.

Calgary-based TransCanada hopes to complete the $2.3 billion Oklahoma-to-Texas section next year after receiving the last approvals it needs to start construction. Many of the permits and environmental reviews already have been completed as part of the larger Keystone project, company officials said.
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Toast
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LoL

Drudge Report ‏ (@Drudge_Report) Tweets:

OBAMA BACKS HALF A PIPELINE...
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kbp

I'm not aware of what authority the federal government has on the pipeline in question. Little, if any, from all I had read.

IOW, I'm not sure Barry's "okay" is even needed.
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Baldo
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Alaska champions $40bn pipeline plan

BP, ExxonMobil and ConocoPhillips are in discussions about a $40bn project to export liquefied natural gas from Alaska to Asia, potentially opening up large but stranded reserves that currently have no route to market.

According to people close to the negotiations, the three companies and state authorities hope to reach agreement next week over a long-running lease dispute at Point Thomson, a large oil and gas field on Alaska’s North Slope.

A settlement would clear the way for the companies to hasten their commercial assessment of a large gas pipeline to Alaska’s southern coast, from where LNG could be shipped to China and other Asian countries. Sean Parnell, Alaska’s governor and a champion of the project, told the Financial Times he was “cautiously optimistic” that the plan would be able to move forward.

The state argues that BP, ExxonMobil, ConocoPhillips and Chevron have been too slow to produce oil and gas at Point Thomson, having agreed to a development plan in 1977, and he wants to take their lease away. John Minge, BP’s president for exploration in Alaska, told reporters in the state last week that talks about the dispute were on track to be resolved by an end of March deadline.

Alaska’s North Slope has proven reserves of 35tn cubic feet of gas – about one-eighth of US total reserves – and undiscovered resources estimated at 236tn cu ft. Without a pipeline, however, the gas is worthless....snipped

http://www.ft.com/intl/cms/s/0/448b66c6-7343-11e1-aab3-00144feab49a.html#axzz1poEhTRSj



Butttt NOOOOooooo those idiots in DC spent billions on "Green Energy." Why haven't we been building this instead of Solyndra?

Meanwhile more billions of oil can be flowed from Canada to the USA in the Keystone Pipeline but Obama stops most of it!
Edited by Baldo, Mar 21 2012, 09:46 PM.
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Mason
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Parts unknown
.
Democrats: Bush Could Control Gas Prices, Obama Can't

http://dailycaller.com/2012/03/22/democrats-bush-could-control-gas-prices-but-obama-cant/


.
Edited by Mason, Mar 22 2012, 08:45 PM.
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kbp

Mason
Mar 22 2012, 08:44 PM
Posted Image



My guess is the Republicans polled are thinking there is something 'Obama could QUIT doing to reduce gas prices'.
Edited by kbp, Mar 22 2012, 08:57 PM.
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Baldo
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Bet you never heard about this? The EU auto industry is on a 5 year decline of sales. That EU model that Obama likes isn't working.

Those Greenies like DOE Secretary Chu dream about $10 gallon gas like they have in Europe. It has consequences! Duh!

The Nightmare of the European Auto Industry
Wednesday, March 21, 2012 at 7:35PM

Europe with its relatively affluent population of 500 million has turned into a nightmare for the auto industry. And the R-word-restructuring - unpalatable and almost illegal as it is in Europe, is being bandied about, this time by Fiat-Chrysler CEO Sergio Marchionne, who, as President of the European Automobile Manufacturers' Association, spoke for all EU automakers. It was a dire warning and a cry for help.

"Horrible" was how he described the plight of the auto industry when he spoke at the European Business Conference in Bruges, Belgium, on March 20. He predicted that auto sales would sag by 5% in 2012, the fifth down year in a row. He didn't see a recovery before 2014. All-time-high gas prices are part of the reason. For that debacle, and for how it sends French consumers and presidential candidates reeling, read.... The $10-Per-Gallon Gas Has Arrived In Paris.

Perhaps Marchionne was fear mongering: his message was addressed to the EU Commission. The auto industry would have to restructure profoundly, and the Commission should take steps to allow and encourage it, he said.

New car registrations in February fell 9.7% across the EU compared to last year, worse even than February 2009 at the trough of the financial crisis. It was the fifth down month in a row. The results would have been even worse had it not been for an extra selling day.

For January and February, registrations were down 8.3%. Some bright spots were tucked away at the fringes of the EU-Estonia was up 21.2%, Hungary 31.8%, and Rumania 54%-but among the largest markets, only Germany scraped by with a decline of 0.2%. Number two France and number three Italy plunged 20.5% and 17.8% respectively. Among smaller markets, Portugal swooned 47.9%. And in Greece, where hardly anything is sold anymore, only 3,827 new vehicles were sold in February, down 45.2% from the already traumatized level last year.

Marchionne's cry for help wasn't just about saving Fiat whose EU sales dropped 16.7% so far this year. The whole industry would have to cut capacity by 20%, or 3 million units, shutter ten or so plants, and massively lay off workers. But that is precisely what you can't do in the EU....snipped

http://www.testosteronepit.com/home/2012/3/21/the-nightmare-of-the-european-auto-industry.html


The $10-Per-Gallon Gas Has Arrived, In Paris
Thursday, March 15, 2012 at 12:27PM

In early December, Christophe de Margerie, CEO of Total, the Exxon a la Francaise, shocked the French when he said that there was "no doubt" that a liter of gasoline would reach 2 euro and that the only question was when. He cited the calamities in the news at the time to justify the skyrocketing prices of oil and gasoline-source of Total's mega profits. He was talking his book, obviously, which isn't illegal, not even in France.

And now, 2 euro-per-liter gasoline has arrived! More precisely, it has arrived at a gas station in the Rue Saint-Antoine in Paris, not far from the Bastille, in the 4th arrondissement. I used to walk by it every day an eternity ago when I lived in "le Marais" as the arrondissement is called. It's a tiny gas station with rip-off prices by a parking garage entrance. And now it had the audacity to be the first in France to charge 2.02 euro per liter. $10 a gallon.

It was reported on Carbeo.com, a site that tracks gas prices across France, and then made the national news, though it must have done little to bring business to the station. The national average, which has been hitting all-time highs since late last year, was 1.62 euro ($8 per gallon) as of last week, also a record, according to the Ministry of Sustainable Development-they have a ministry for everything in France.

Fuel is taxed heavily in France (and in Europe), which explains part of the difference in price to the US. But now there is an additional reason. In 2008, when gasoline in the US hit all-time highs, the euro was strong against the dollar, and since oil is priced in dollars, Europeans got a sweet deal, or at least they didn't feel the pain as much. But the weaker euro has changed the scenario, and record gas prices have been washing over the Eurozone for months....snipped
http://www.testosteronepit.com/home/2012/3/15/the-10-per-gallon-gas-has-arrived-in-paris.html

Oh those Marxists! They ALWAYS bring scarcities. They will even tell that more taxes are good for you.
Edited by Baldo, Mar 23 2012, 12:12 AM.
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kbp

...But the weaker euro has changed the scenario, and record gas prices have been washing over the Eurozone for months....snipped


The Tim-n-Ben Plan!
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Baldo
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Oil-for-gold: Iran to dodge US ban with metal shield?

The EU has delivered on its threat to ban the import of crude oil from Iran, in response to its nuclear programme. The latest round of sanctions prohibits any new oil contracts, while allowing for existing deals to run until July. But Tehran is apparently finding ways to keep business pumping. Reports say Iran will keep supplying one of its biggest customers - India - but will get payment in gold instead of dollars.

http://www.youtube.com/watch?v=3vD8Y1jLo58&feature=g-vrec&context=G284b5c6RVAAAAAAAAAQ


China says it also might use gold instead of the dollar to buy oil

Uncle Ben won't like this.
Edited by Baldo, Mar 23 2012, 11:32 PM.
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kbp

Baldo
Mar 23 2012, 11:30 PM
Oil-for-gold: Iran to dodge US ban with metal shield?

The EU has delivered on its threat to ban the import of crude oil from Iran, in response to its nuclear programme. The latest round of sanctions prohibits any new oil contracts, while allowing for existing deals to run until July. But Tehran is apparently finding ways to keep business pumping. Reports say Iran will keep supplying one of its biggest customers - India - but will get payment in gold instead of dollars.

http://www.youtube.com/watch?v=3vD8Y1jLo58&feature=g-vrec&context=G284b5c6RVAAAAAAAAAQ


China says it also might use gold instead of the dollar to buy oil

Uncle Ben won't like this.
I doubt it will happen, but Ben would be left with responsibility for a financial disaster if one or more major oil suppliers demanded trade in commodities and goods instead of dollars.

The counter response to the devaluation it could create (hyperinflation) would be to UNprint his digital dollars, which leaves him UNable to buy debt and all debt he presently holds would be more costly to pay back.

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kbp

Quote:
 
Sen. Sanders: 'Excessive Speculation,' Not Supply and Demand, Responsible for High Gas Prices

...The Vermont independent, who caucuses with Senate Democrats, would not commit to being either for or against more oil drilling in the U.S.

“Well, it depends on the nature of the oil drilling,” Sanders said.

But he added: “I think the point that I have made and others have made is that the issue is not supply and demand. Right now you have more supply and less demand. The economics that I learned in college means that when you have more supply and less demand, you know what, oil prices go down. Yet oil prices are going up.

“So right now the issue is to deal with excessive oil speculation that’s taking place in the oil futures market. I believe, we believe, that if you deal with that you will drive oil and gas prices down.”

snip


Partially correct, except he misses the points of WHY people specualte. Those speculating can't control the world oil prices just to make a few dollars extra! They speculate because the supply may not meet the future growth in Asia, the US supply will not grow as it could, the mideast supplies are subject to unstable politics (thanks Barry), all idiots smart enough to see this have the right to speculate for a profit (sinful word there!).


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Kerri P.
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http://news.yahoo.com/u-gasoline-hits-3-93-gallon-survey-205105183.html
U.S. gasoline hits $3.93 a gallon: survey
ReutersReuters – 2 hrs 7 mins ago


NEW YORK (Reuters) - The price of a gallon of gasoline in the United States rose 11.49 cents over the past two weeks as profit margins for refiners and gasoline retailers increased, according to the nationwide Lundberg Survey.

The national average for a gallon of regular gasoline rose to $3.9297 on March 23, the survey of about 2,500 gasoline retailers in the continental United States found.

That was a smaller increase than the 12.31-cent rise in the previous survey, which covered the two weeks that ended March 9.

"Profit margins have been exceptionally narrow for quite some time and they have normalized," survey editor Trilby Lundberg told Reuters. "Crude oil price hikes have found their way through to the pump."

The benchmark West Texas Intermediate crude oil closed on Friday at 106.87, down slightly from the March 9 price of $107.40 a barrel.

Lundberg added it was difficult to predict which way gasoline prices would go, but said it would likely take another crude price increase to see a jump in costs at the pump, because the United States is currently sitting on a large cushion of excess refining capacity.

snip....
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Toast
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Kerri P.
Mar 25 2012, 05:59 PM
http://news.yahoo.com/u-gasoline-hits-3-93-gallon-survey-205105183.html
U.S. gasoline hits $3.93 a gallon: survey
ReutersReuters – 2 hrs 7 mins ago



Lundberg added it was difficult to predict which way gasoline prices would go, . . .

snip....
I can give him a crystal ball if he would like to make predicting easier.
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