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Tue Feb 12, 2013, 12:53 AM

National Emergency Powers, Mr.President?

I hope on your list, is a federal regulatory agency, newly appointed by your administration which would oversee all gas price increases on a monthly basis. I donít give a shit what its called, all I know is that the oil companies are hell bent on fucking over the American People.....And they are doing it right now!!!

By the way Mr. President excuse my language sir, but Iím pissed in California...

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Reply National Emergency Powers, Mr.President? (Original post)
busterbrown Feb 2013 OP
davidpdx Feb 2013 #1
busterbrown Feb 2013 #2
davidpdx Feb 2013 #3
busterbrown Feb 2013 #4
davidpdx Feb 2013 #5

Response to busterbrown (Original post)

Tue Feb 12, 2013, 03:31 AM

1. What is needed is long term solutions

In the short term nothing will lower gas prices that much. The trade off for lowering gas prices is more smog (especially in California-see article #1). This was all discussed during the last election when Gingrich promised $2 a gallon gas.

What Measures Can The US President Take To Lower Gas Prices In The Short Term?
10/18/2012 Forbes

Virtually nothing.

Rather than re-invent the wheel here, Iím going to focus on the actual question, which concerns short-term gas prices, and then briefly touch on the longer term. Paul Unterberg links to a post with ten ways the U.S. can lower gasoline prices. To say they have limited/near zero short-term implications is to be generous.

http://www.forbes.com/sites/quora/2012/10/18/what-measures-can-the-us-president-take-to-lower-gas-prices-in-the-short-term/

Gasbag: Why No President Can Bring Us $2 Gasoline
By Bryan Walsh Feb. 21, 2012 Time Magazine

That goes for one of the most importantly economic indicators ó psychologically at least ó thatís out there: gas prices. A gallon of gas now costs an average of $3.53, already up 25Ę from the beginning of the year, and the highest price itís even been at this time of the year. (Gas prices are usually lower in the winter, when the cold weather and lack of holidays curtails some driving.) With the U.S. economy strengthening ó driving up demand for gasoline, and price as well ó and the situation in Iran and the rest of the oil-producing Middle East looking uncertain, analysts believes gas could be well over $4 a gallon by the prime driving months of the summer.

snip

The short answer is: not really. One way to understand that is to look at how gas prices have fared under President Obama. When he entered office in January 2009, gas cost $1.81 a gallon. Now itís nearly $2 a gallon higher, an increase of 95%. That sounds bad, but the main reason gas had become so cheap at the start of the Obama Administration was that he was took office during the heart of the worst global recession since the Great Depression. Recession depress economic demand, and when demand is depressed, fewer people drive ó which in turns leads the price of gas to fall like any other commodity would when demand falls. As the economy recovered and economic activity picked up ó both in the U.S. and elsewhere ó the price of gas rose as well. If future President Gingrich were to somehow be able to deliver $2.50-a-gallon gas, it would probably mean the economy had tanked again.

But what about encouraging more production of oil, both in the U.S. and in friendly nations like Canada, with its vast oil-sands reserve? For one thing, domestic oil production has increased under President Obama, thanks largely to the new unconventional reserves in states like North Dakota. Does Obama deserve much credit for that increase in domestic oil? Probably not. Though Obama has put some additional regulations on the oil industry in the wake of the Deepwater Horizon disaster, itís hard to imagine that oil companies wouldnít have been just as eager and able to tap those new resources under a Republican as they have been under a Democrat. And more to the point, that additional domestic oil has done little to alleviate gas prices, in part because oil functions on a global market, and extra American crude is just a drop in that much larger bucket.

http://science.time.com/2012/02/21/gasbag-why-no-president-can-bring-us-2-gasoline/#ixzz2KffgZehj

Can presidents change gas prices?
By Charles Riley @CNNMoney October 17, 2012: 1:35 AM ET

The truth is that politicians and the government, for the most part, have very little real control over gasoline prices.
The price Americans pay at the pump is tied to the crude oil market -- a global system largely beyond the reach of Washington.

http://money.cnn.com/2012/10/17/news/economy/politics-gas-prices/index.html

Why Gas Prices Are Out of Any Presidentís Control
By RICHARD H. THALER NY Times
Published: March 31, 2012

Oil is a global market in which America is a big consumer but a small supplier. We consume about 20 percent of the worldís oil but hold only 2 percent of the oil reserves. That means we are, in economics jargon, ďprice takers.Ē Domestic production has increased during the Obama administration, but it has had minimal effects on global prices because, as producers, we are just too small to matter much. And even if domestic oil companies further increased production, they would sell to the highest global bidder.

http://www.nytimes.com/2012/04/01/business/gas-prices-are-out-of-any-presidents-control.html

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Response to davidpdx (Reply #1)

Tue Feb 12, 2013, 03:58 AM

2. They are telling us out here that the reason prices have reached 4.35 is because of fires, pumping

problems and also the change over from Winter to Summer supply issues. Why do we have to pay for their
mechanical breakdowns, pumping and storage problems. We know there will always be tensions somewhere in the world and its becoming evident that the oil companies will always have an excuse..OOH Tensions!!!!

Tell me why future traders who only have to put up a fraction of the money to hold futures should be allowed to impact our overall economy in the manner that they do?

Finally oil and gas prices are essential to the welfare of our national security and I donít see why a federal
agency should not be created to oversee this industry and prevent them from running at free will as tehy are doing now.

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Response to busterbrown (Reply #2)

Tue Feb 12, 2013, 04:14 AM

3. They do changed the blend of gas between winter and spring

How that happens I don't know. One of the articles also said that the blends are not the same in every state. So the summer blend in Oregon is probably different of that in California due to the higher pollution there.

Gas here in South Korea is 1,930 won per liter, so I'll convert that for you to gallons/dollars to show you guys how worse off you are then Koreans.

1930 X 3= 5790 won per gallon

5790 X 1100= $5.26 a gallon

(current exchange rate is 1100=$1)

I've been here for nine years and never seen it go below $4.50

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Response to davidpdx (Reply #3)

Tue Feb 12, 2013, 04:24 AM

4. Europeans have amazing public transportation systems so that they are not as nearly reliant

as we are.

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Response to busterbrown (Reply #4)

Tue Feb 12, 2013, 05:30 AM

5. Korea does in the larger cities

The smaller cities have buses. The intercity buses and the trains run throughout the country. Of course Korea is only about the size of Indiana or Kentucky.

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