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GAS PRICES
Topic Started: Feb 16 2012, 07:22 PM (7,986 Views)
kbp

Quote:
 
White House Wants to Keep Gas Prices High

...Chu delivered those stunning remarks in testimony before Congress yesterday. When Rep. Alan Nunnelee (R-Miss.) asked Chu whether it’s his “overall goal to get our price” of gasoline lower, Chu said, “No, the overall goal is to decrease our dependency on oil, to build and strengthen our economy.


I think I've already seen this mentioned here, just wanted to compare it to the Department Mission.

Original Mission
...enhancing national energy security

Present Mission
The mission of the Energy Department is to ensure America’s security and prosperity by addressing its energy, environmental and nuclear challenges through transformative science and technology solutions.


A lot might be said in debate on the Mission issue, but the avenue selected seems to miss "America’s ...prosperity" by a long shot!

I'm not seeing an end to oil that soon, and if we did come up with some miracle of a solution that eliminated or drastically reduced our need for oil, we'd be too poor by then to worry about why we needed energy if we stick with the 'Chu Plan'.

Edited by kbp, Feb 29 2012, 07:11 PM.
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Mason
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BOR continued his war against the Oil Companies tonight.

Good luck finding someone on TV addressing the Dollar and the Fed contributing to the problem.

When they cite the supply - wonder why no on mentions how many more, in this economy, don't get in a car and drive to work - cause they don't have jobs!

Chu has been tasked with making Alternative Energy the Primary Energy. Expecting him to slow down this train is like asking Rosie O'Donnel to chair a non-political, bi-partisan Fairness commission.

.
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Baldo
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I think this guy gets it right.

The truth about rising gas prices, the stock market, & Warren Buffett's taxes

http://www.youtube.com/watch?v=eQYy25kLijA&feature=g-all&context=G2f061efFAAAAAAAAaAA
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Mason
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Baldo
Feb 29 2012, 11:21 PM
I think this guy gets it right.

The truth about rising gas prices, the stock market, & Warren Buffett's taxes

http://www.youtube.com/watch?v=eQYy25kLijA&feature=g-all&context=G2f061efFAAAAAAAAaAA
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The Fannie & Freddie stuff isn't even included in the Deficit.

I think things are even worse, when all is calculated.

Any discussion should include the disengenuousness of the Dems as they laid blame for Gas Prices on a Republican President in the past. Nancy Pelosi even said that our lack of respect on the World stage was hurting out ability to lower Gas Prices. Did they think the DEM allegiance and sympathies to Muslim countries was going to lower Gas Prices?

Too bad the guy in the Video doesn't have a Prime-Time show on TV.


.
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Concerned
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From the American Petroleum Institute:

“The President’s Backward Energy
Policy Won’t Lower Gasoline Prices”

Energy Facts and Myths

http://www.api.org/news-and-media/news/newsitems/2012/feb-2012/~/media/Files/Policy/Exploration/Energy-Myths-and-Facts.ashx


Also:

"President’s Jekyll and Hyde approach to energy security hurts consumers"

http://www.api.org/news-and-media/news/newsitems/2012/feb-2012/presidents-jekyll-and-hyde-approach-to-energy-security-hurts-consumers.aspx

And:

"What's up with Gasoline Prices?" (Lots of charts and graphs)
http://www.api.org/~/media/Files/Oil-and-Natural-Gas/Gasoline/Whats_Up_With_Gasoline_Prices.ashx

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Baldo
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Thanks Concerned. Those are some great references!
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Baldo
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Energy Secretary Chu Admits Administration OK with High Gas Prices

COMMENTARY | President Barack Obama's Secretary of Energy Stephen Chu uttered the kind of Washington gaffe that consists of telling the truth when inconvenient. According to Politico, Chu admitted to a House committee that the administration is not interested in lowering gas prices.

Chu, along with the Obama administration, regards the spike in gas prices as a feature rather than a bug. High gas prices provide an incentive for alternate energy technology, a priority for the White House, and a decrease in reliance on oil for energy.

The Heritage Foundation points out that hammering the American consumer with high gas prices to make electric and hybrid cars more appealing is consistent with Obama administration policy and Chu's philosophy. That explains the refusal to allow the building of the Keystone XL pipeline and to allow drilling in wide areas of the U.S. and offshore areas....snipped

http://news.yahoo.com/energy-secretary-chu-admits-administration-ok-high-gas-193900713.html


A Nobel Prize Winner just isn't what it used to be.

Chu: DOE working to wean U.S. off oil, not lower prices

The Energy Department isn't working to lower gasoline prices directly, Secretary Steven Chu said Tuesday after a Republican lawmaker scolded him for his now-infamous 2008 comment that gas prices in the U.S. should be as high as in Europe.

Instead, DOE is working to promote alternatives such as biofuels and electric vehicles, Chu told House appropriators during a hearing on DOE's budget.

But Americans need relief now, Rep. Alan Nunnelee (R-Miss.) said - not high gasoline prices that could eventually push them to alternatives.

"I can't look at motivations. I have to look at results. And under this administration the price of gasoline has doubled," Nunnelee told Chu.

"The people of north Mississippi can't be here, so I have to be here and be their voice for them," Nunnelee added. "I have to tell you that $8 a gallon gasoline makes them afraid. It's a cruel tax on the people of north Mississippi as they try to go back and forth to work. It's a cloud hanging over economic development and job creation."

Chu expressed sympathy but said his department is working to lower energy prices in the long term....snipped

http://www.politico.com/news/stories/0212/73408.html#ixzz1nlwKN38K


:uhoh:

"...High gas prices provide an incentive for alternate energy technology, a priority for the White House..."

It also gives me a big incentive to expand my "alternative" dunking chair business come Tuesday, November 6, 2012

T-Minus 250 days!
Edited by Baldo, Mar 1 2012, 01:58 AM.
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Baldo
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Unbelievable! Gasoline prices continue to rise in NorCal. It is up 16% in one month, 59 cents/gallon
Edited by Baldo, Mar 1 2012, 02:45 AM.
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Mason
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None of this is that much of a stretch.

Obama is the man that said his Cap and Trade plan would necessitate (and require) skyrocketing Energy prices.

He said that Americans will no longer be able to set their thermostats at 70 degrees.

He told foreign countries America has been arrogant.

I would look for Obama to try something in the short term - like 250 day range.

.
Edited by Mason, Mar 1 2012, 03:58 AM.
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kbp

Mason
Mar 1 2012, 03:54 AM
.
None of this is that much of a stretch.

Obama is the man that said his Cap and Trade plan would necessitate (and require) skyrocketing Energy prices.

He said that Americans will no longer be able to set their thermostats at 70 degrees.

He told foreign countries America has been arrogant.

I would look for Obama to try something in the short term - like 250 day range.

.
Short-term = release US oil reserves????
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kbp

Quote:
 
TYRRELL: Nat Gas Act is no boondoggle

The other day, the estimable Wall Street Journal editorial board took issue with the equally estimable T. Boone Pickens, the legendary oilman, over the Nat Gas Act. The Journal argued with its customary lucidity that Mr. Pickens‘ idea of subsidizing natural gas, even for a short period, was ill-advised. To my mind, the Journal left one argument out, to wit: national security.

The Journal argued that natural gas could be supplied according to free-market practices, presenting clean and cheap energy even to those behemoth 18-wheel semis that carry their loads across America. It argued that talk of energy independence had led to numerous boondoggles for years. Ethanol had been tried for 30 years, cost $40 billion and still is costing us. It argued that wind and solar had cost huge amounts and contributed mostly to boondoggles or “Boone-Doggles,” as it headlined its piece. It argued that no subsidies had been necessary for Henry Ford to build the first Model T, nor were subsidies necessary to put gas stations across America for servicing the Model Ts.

Yes, well, let’s stop right there. America existed in the first part of the 20th century in an entirely different world than exists today. There were no terrorists capable of killing us. Oil came mostly from Texas or Oklahoma, much friendlier and more stable places than the Middle East, Venezuela or Russia.

We now import some 50 percent of our oil. We are at the mercy of conditions that are usually out of our control. If we were to have natural gas fueling our 18-wheelers, we would be back in control. Actually, we could resume shipping energy abroad. In recent years, we have found natural gas in abundance right here in America. Through technological developments such as hydraulic fracturing we have unlocked more energy than exists in all of Saudi Arabia. Let Iran or a gang of terrorists close down the Strait of Hormuz. We are still secure.

The Nat Gas Act now pending before Congress will extend and increase tax credits for natural gas and for fueling. The key clause calls for the orderly replacement of diesel-powered 18-wheeler semis and other heavy-duty vehicles with natural gas over a five- to seven-year period. It also gives tax incentives to truck-stop owners to supply natural gas. That will amount to a savings of 2.5 million barrels of oil a day.

Our reliance on oil from the Organization of Petroleum Exporting Countries (OPEC) will be cut by 50 percent.

snip


I do not agree with this guy (I say keep the fed's out of it), but the numbers are interesting!

Barry could use that Act to slow down the speculation.

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Baldo
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Natural Gas is the way to go. We have spent hundreds of billions on Ethanol & "Green" Energy and what the heck has it got us? We spent 3 billion or more on the Volt.

Natural Gas is abundant, we have the most known reserves in the world and the technology to use it is already proven. I used to have a rig that was powered by propane. The engine oil never got dirty because it burns so clean. Switching over to natural gas is so much simpler than these pie in the sky green-plans.. We already have a distribution system in place. Millions of home have natural gas and with the addition of a compressor station you could fill your auto at home. It can supplement gasoline in so many areas. Kenworth & other Truck manufacturers already have models available.

We could break the back of foreign crude exporters.

Then we could pursue other sources of energy including solar. Above all build nuclear. You can build safe nuclear power plants as current designs are 4 & 5th generations. We can regain the number one growth economy & be prosperous. Energy is the key.
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kbp

Obama calls to repeal oil industry incentives



Removing incentives while facing problems from price increases seems a little backwards. With chart in hand, it's like he's arguing we have too much oil.

As I understand those incentives, it's not the big oil companies that get them anyway.
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Kerri P.
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http://finance.yahoo.com/blogs/daniel-gross/limited-gas-pains-why-u-better-able-handle-153416885.html
Limited Gas Pains: Why the U.S. is Better Able to Handle Higher Gas Prices
Contrary Indicator – 5 hours ago

As the price of gasoline continues to rise — yesterday, I paid a painful $4.25 per gallon — concerns are rising over the potential impact of expensive fuel on the overall economy. But, as Aaron Task and I discuss in the accompanying video, the U.S. economy is better situated to handle higher gas prices than it was last year, four years ago, or ten years ago. The upshot: higher gas prices are going to hurt, and will be painful for many. But they won't torpedo the economy.

For a host of reasons, the world's largest consumer of gasoline is much less likely to be the victim of high gas prices than it was a few years ago. Here's why.

First, compared with 2007 and 2008, corporate and personal balance sheets are in much better shape, and hence better able to absorb rising costs.

Second, the U.S. is a bigger producer of oil than it was a few years ago. Oil consumption is in many ways a zero-sum game: more money spent by consumers on gasoline means more money going into the pockets of oil producers — most of them overseas. But in the last few years, the U.S. domestic oil industry has experienced significant growth, thanks in part to North Dakota's shale oil boom. Government data on crude oil production suggests that 2011 saw the highest level of domestic oil production since 2003. So more of the money spent on more expensive oil will stay in the U.S.

Third, Americans simply drive less, and use less gas, than they used to. Part of that can be ascribed to the fact that employment remains far below the 2007 peak. But on the aggregate, the U.S. economy has figured out how to move more good and people around while driving fewer miles and using less gas. The volume of crude products supplied in the U.S. peaked in 2005 at 7.59 billion barrels, and fell dramatically to 6.85 billion in 2009, and then rose to 7 billion in 2010. That's less than the amount used in 2001. The figure was down again through the first 11 months of 2011, even though the economy and employment were growing.

snip....
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kbp

Kerri P.
Mar 1 2012, 04:03 PM
http://finance.yahoo.com/blogs/daniel-gross/limited-gas-pains-why-u-better-able-handle-153416885.html
Limited Gas Pains: Why the U.S. is Better Able to Handle Higher Gas Prices
Contrary Indicator – 5 hours ago

As the price of gasoline continues to rise — yesterday, I paid a painful $4.25 per gallon — concerns are rising over the potential impact of expensive fuel on the overall economy. But, as Aaron Task and I discuss in the accompanying video, the U.S. economy is better situated to handle higher gas prices than it was last year, four years ago, or ten years ago. The upshot: higher gas prices are going to hurt, and will be painful for many. But they won't torpedo the economy.

For a host of reasons, the world's largest consumer of gasoline is much less likely to be the victim of high gas prices than it was a few years ago. Here's why.

First, compared with 2007 and 2008, corporate and personal balance sheets are in much better shape, and hence better able to absorb rising costs.

Second, the U.S. is a bigger producer of oil than it was a few years ago. Oil consumption is in many ways a zero-sum game: more money spent by consumers on gasoline means more money going into the pockets of oil producers — most of them overseas. But in the last few years, the U.S. domestic oil industry has experienced significant growth, thanks in part to North Dakota's shale oil boom. Government data on crude oil production suggests that 2011 saw the highest level of domestic oil production since 2003. So more of the money spent on more expensive oil will stay in the U.S.

Third, Americans simply drive less, and use less gas, than they used to. Part of that can be ascribed to the fact that employment remains far below the 2007 peak. But on the aggregate, the U.S. economy has figured out how to move more good and people around while driving fewer miles and using less gas. The volume of crude products supplied in the U.S. peaked in 2005 at 7.59 billion barrels, and fell dramatically to 6.85 billion in 2009, and then rose to 7 billion in 2010. That's less than the amount used in 2001. The figure was down again through the first 11 months of 2011, even though the economy and employment were growing.

snip....
Looks like this guy could explain away failure with a smile on his face.
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