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GAS PRICES
Topic Started: Feb 16 2012, 07:22 PM (7,980 Views)
kbp

Quote:
 
Obama’s campaign push for biofuels evokes Carter’s 1980 State of the Union address

....“Thirty years ago, under President Jimmy Carter, there was an ‘oil crisis,’” Marita Noon, executive director of the conservative think tank Energy Makes America Great, told TheDC. “Following the belief that the world was running out of oil, a quest for renewable energy was launched.”

At that time ethanol, a biofuel made from corn and gasoline, was deemed the “holy grail” of alternative energy sources, Noon said. Today the honors go to algae, which President Obama cheered a few weeks ago as the consumer fuel of the future.


At least "ALGAE" won't make my grocery bill go up like burning corn in vehicles did.

....only by way of inflation from printing money to pay for that "alternative fuel".
Edited by kbp, Mar 29 2012, 03:16 PM.
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Baldo
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Kerri P.
Mar 29 2012, 02:29 PM
http://finance.yahoo.com/blogs/daily-ticker/4-gas-no-justification-high-prices-says-fmr-160209651.html
$4 Gas: “There Is No Justification” for High Prices, Says Fmr. Senator Dorgan
What a world class idiot!

How do you stop speculation in a world market?The Bourses (exchange) wiil just move from London to Dubai to Hong Kong to wherever they can operate. There will always bee a city-state that welcomes them. The Saudi Stock Exchange is slowly opening its market. The money will just move & the price will adjust no matter what this fool of an ex-senator says.

The point is crude oil is in demand world-wide and the USA can't control that anymore. All we can do is participate in the profit of producing more oil/gas & improving our trade balance while creating jobs & prosperity here
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kbp

Our "control" is to reduce the speculation that we will NOT drill to meet the demand of supply the developing nations are helping to create.
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Baldo
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Obama went after the oil companies today. Here is Santelli's response

CNBC's Rick Santelli:

"If I broke my right arm, am I going to pick a fight with the neighbor? No. If I'm two months behind on my mortgage, am I going to go complain to the bank? Probably not. But let's see, with gasoline approaching $5 a gallon, isn't this just a supreme time to pick a war with the energy people that are bringing us what already seems to be in the market's eyes in short supply? Just like picking fights with China when the world's about ready to go into recession. There's a time and a place for everything. And, by the way, all these profits Exxon's making, the administration doesn't like it. Well, what about Apple making a billion dollars a week, or Microsoft? I bet you if GM made a billion dollars a week, they wouldn't mind. Come on!"

http://www.realclearpolitics.com/video/2012/03/29/santelli_why_doesnt_obama_go_after_apples_profits.html


Meanwhile Obama said we should double down on Green Energy.The guy is nuts.
Edited by Baldo, Mar 29 2012, 05:31 PM.
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kbp

I keep seing that "double down". It must be to fool the people into believing the smart one knows what he is doing, it's simply not his fault us idiots keep preventing his success.
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Baldo
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So who is telling truth?

Obama Surrenders To Iran - Dick Morris TV:
March 30

In this video commentary, I discuss how Hillary is granting waivers to Western Europe and Japan on Iran sanctions. The Ayatollah is laughing! Tune in!

http://www.dickmorris.com/obama-surrenders-to-iran-dick-morris-tv-lunch-alert/


or

Obama sets stage for tough new sanctions targeting Iran's oil
March 30

President Barack Obama moved Friday to tighten the economic vise on Iran over its suspect nuclear program, taking a big step toward tough new sanctions aimed at crippling the Islamic republic's ability to export oil.

Obama announced in an official memorandum that he had determined that there is enough oil on world markets to go ahead with measures designed to push countries that buy Iranian crude-including key U.S. allies like Japan, South Korea and India—to get their petroleum elsewhere...snipped

http://news.yahoo.com/blogs/ticket/obama-sets-stage-tough-sanctions-targeting-iran-oil-190045204.html


or

U.S. Exempts Japan and 10 Other Countries From Sanctions Over Iran Oil
March 20, 2012
WASHINGTON - The Obama administration on Tuesday exempted Japan and 10 European nations from the prospect of biting sanctions intended to punish countries that continue to buy oil from Iran, but it left open the fate of other major importers, including China, India and South Korea.
http://www.nytimes.com/2012/03/21/world/middleeast/us-exempts-japan-and-10-others-from-iran-oil-sanctions.html


or

Japan's oil imports up 2.7% in Feb., 1st rise in 4 months
Marc 30
TOKYO (Kyodo) -- Japan's crude oil imports in February rose 2.7 percent from a year earlier to 111.71 million barrels for the first growth in four months, the Agency for Natural Resources and Energy said Friday.
http://mdn.mainichi.jp/mdnnews/business/news/20120330p2g00m0bu129000c.html


or

LNG-Soaked Japan Burns Oil as Nuclear Reactors Sit Idle


Japan is consuming the most oil in four years as it runs out of capacity to use liquefied natural gas as a stopgap for idled nuclear-power plants.

Utilities are burning about 400,000 barrels a day, more than at any time since 2008, after more than doubling use of crude last year, according to Deutsche Bank AG. (DBK) LNG can meet about two-thirds of Japan's electricity needs when all its nuclear reactors are offline, government data and forecasts from the Institute for Energy Economics show.

Japan, turning to alternative sources of energy after last year’s Fukushima Dai-Ichi nuclear disaster, is boosting its reliance on oil at a time when supply concerns from Sudan to Iran are already roiling markets. Brent crude has jumped 16 percent this year to trade near a three-year high, stoking speculation governments will be forced to release oil from emergency stockpiles.

:In a global market characterized by supply-side constraints, we think sustained incremental demand of nearly 400,000 barrels a day from Japan would help keep crude prices well supported,"Michael Hsueh, a London-based analyst at Deutsche Bank, said in a report. "These are non-trivial numbers at a global level." ...snipped

http://www.businessweek.com/news/2012-03-28/lng-soaked-japan-burns-oil-as-nuclear-reactors-sit-idle


My hunch is long nosed Obama is exaggerating his position to gain the Jewish vote in the USA
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kbp

Going off memory...

I thought the sanctions for the exempted countries did not kick in until July or August.
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Baldo
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Meanwhile in the real world of supply & demand outside DC's govt charge cards

Ministers under pressure to bring in emergency rationing as 999 crews struggle to get hold of fuel

Organisations representing 999 crews warned that lives could be put at risk if the Government does not put the National Emergency Plan for Fuel into action.

The pre-arranged plan, which closes designated forecourts to all but essential vehicles, can be put in place within 24 hours, but so far ministers have refused to consider it.

The number of filling stations which had run dry at some point was said by one trade body to have run into the thousands as demand for petrol rose by 172 per cent and diesel by 77 per cent....snipped

http://www.telegraph.co.uk/earth/energy/fuel/9177397/Ministers-under-pressure-to-bring-in-emergency-rationing-as-999-crews-struggle-to-get-hold-of-fuel.html


999 is the UK's equivalent of our 911
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Mason
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Parts unknown
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Obama is only concerned with price until November - he's planning on releasing strategic reserves - and Hillary is sucking up to the Saudi's begging them to increase production before Summer.

.
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Baldo
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kbp
Mar 30 2012, 05:18 PM
Going off memory...

I thought the sanctions for the exempted countries did not kick in until July or August.
"Hold me back hold me (psst don't let go of me)"

Obama adds new sanctions to Iranian oil

President Barack Obama cleared the way Friday for new sanctions against countries doing business with Iran, introducing yet another economic pressure aimed at forcing Tehran to yield on its nuclear program and avoiding military conflict.

The move represents an official determination from the White House that there is a sufficient supply of oil around the world for countries to “significantly” cut their imports from Iran that are processed through the central bank there. The sanctions — a step aimed at doing maximum economic harm to Iran and minimal harm to U.S. allies — are set to take effect on June 28.

....As of now, the State Department has exempted the 10 countries in the European Union and Japan from the sanctions for their efforts to curtail their imports of Iranian oil. Another key ally, South Korea, has yet to be exempted, but the official said Friday that the issue was discussed while the president was in Seoul earlier this week. Turkey has also demonstrated an interest in reducing its reliance on Iranian oil. China and India also import oil from Iran and have yet to commit to reducing their imports or taking other steps to be exempted from the sanctions.

http://www.politico.com/news/stories/0312/74682.html


What pure hogwash. Just more of meaningless Obama posturing..

As Morris stated they could install real sanctions against doing business with Iran but won't.
Edited by Baldo, Mar 30 2012, 05:38 PM.
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kbp

The problems has ZERO to do with being short on oil. The speculation has been discussed. Last I had read on UK was they had a problem with refineries, a capacity problem from shutting so many down.

I'm not catching what the new problem is. I saw a threat of striking by petro truckers, but that did not happen. Is it like everyone there wanted fuel all on the same day or what?
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Mason
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Parts unknown
kbp
Mar 30 2012, 06:09 PM
The problems has ZERO to do with being short on oil. The speculation has been discussed. Last I had read on UK was they had a problem with refineries, a capacity problem from shutting so many down.

I'm not catching what the new problem is. I saw a threat of striking by petro truckers, but that did not happen. Is it like everyone there wanted fuel all on the same day or what?
.
THe Problem is the next 220 days or so.

That is the only problem, in reality. After that, Obama will open up six Windmills and solve all our problems.


.
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Baldo
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Obama determining there is enough oil for world-wide sanctions is like the UK's management of their fuel supply... Doubtful at best, but always Central Planning "Magic"

The tanker drivers strike is unlikely to take place until after Easter, but the country is running short of fuel anyway.

Speaking on Radio 4's Today programme this morning, Brian Maddison, chairman of Retail Motor Industry (RMI) Petrol, said that yesterday (Thursday), sales of unleaded had risen by 170% while diesel sales were up by almost 80 per cent. He made the point that the Government's whole strategy was misconceived.

The Government had wanted people to fill up now, with petrol stations being replenished before Easter. That way, both cars and petrol stations would have full tanks going into Easter. It was a nice theory, but the Government did not appear to know how fuel distribution works. With a modern "lean distribution" system, there is very little slack in the system - Brain Maddison reckoned around 15% extra could be pushed through at any one time.

If demand doubles, there is no way to quickly refill empty fuel stations - they are going to have to stay empty until their next scheduled delivery. Unsurprisingly, fuel companies do not leave hugely expensive fuel tankers lying idle, just in case they are needed.

So, we now have mostly full cars, mostly empty petrol stations and no strike in the immediate future. Talks are due to resume next week, and with seven days notice of a strike being required by law, any strike will not take place until after Easter...snipped
http://uk.autoblog.com/2012/03/30/no-fuel-strike-just-a-shortage/


I suspect Obama knows as much as the UK genius's "magic" place.

A market with its world of commodities markets, speculators, buyers/sellers,and thousands of variables motivated by the "free hand" of commerce is a concept that Barry just doesn't understand and is something we have seen in his Administration. I may be wrong but I see disaster in his plan.
Edited by Baldo, Mar 30 2012, 08:07 PM.
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kbp


Quote:
 
EPA Agrees to Dismiss Well Contamination Case Against Range

The U.S. Environmental Protection Agency agreed to end a lawsuit that would’ve forced Range Resources Corp. (RRC) (RRC) to fix natural-gas wells the government said were contaminating water in Parker County, Texas.

The agency withdrew an administrative order yesterday and joined with Range seeking dismissal of the case in a filing today in federal court in Dallas. The government wants to “shift the agency’s focus in this particular case away from litigation” and instead test water wells in the area, the agency said in a statement.

EPA ordered Range to fix leaks in the area in 2010, saying state regulators at the Texas Railroad Commission weren’t acting fast enough after residents complained of gas in their water wells. Range, based in Fort Worth, Texas, said gas was already present in local water and its operations weren’t the cause.

Range uses hydraulic fracturing in Texas’s Barnett Shale, shooting water, chemicals and sand underground to get oil and gas from dense rock formations. Environmental groups, including the Natural Resources Defense Council, say the technique known as fracking can contaminate local water supplies.

The EPA said in 2010 that the wells were fractured; it didn’t say whether fracking caused the gas leaks.

“It is very important for people who live in that community to trust that their environment, safety and health is protected,” Matt Pitzarella, a Range spokesman, said in a telephone interview. “We believe this withdrawal will help.”

snip


:think:
That followed the loss at SCOTUS rather quickly!
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Toast
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Hopefully, a good sign of things to come.


I have no problem with protecting the environment and having safe water to drink and safe air to breath. However, the EPA has become nothing more than a bully with a long list of regulations to follow when there isn't even a proven threat to safety.
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