Perhaps The Obama Administration is Keeping Gasoline Prices Low Until The Election.

October 27, 2016

While pumping gasoline today, I realized that gasoline prices are falling, even though the Mideast Cartels (OPEC) agreed to cut production back in September.

Source: www.bloomberg.com...


Then tonight, I see this article, which says we're experiencing the cheapest Fall gasoline prices in the U.S., since Obama first became President.

Article: www.cnbc.com...

From the pattern we've seen in the e-mails revealed by WikiLeaks, is it likely that the Obama Administration was thinking ahead, and imported so much oil, that the U.S. now has a glut of oil reserves, which keeps the price low...at least until November 9th???

-CareWeMust

The President doesnt set the prices for oil.........OPEC usually has the direct line on that.....

Our dependence on oil and its cost, and indeed most of the world is at the hands of The Kingdom of Saud and most of the middle east.........

I know the want to blame Obama, and our leaders is strong, its not accurate here........

The only thing that can be blamed on the US is our lack of motivation to become energy independent despite the fact our oil reserves here could serve us for a far longer time for much cheaper.........

Research bud........research on world economics......

OPEC has a nice little conundrum going on with the price of oil and the US. The US becomes less energy dependent on foreign oil supplies as the price goes up. This is due to the cost of obtaining the oil is higher in the US then the OPEC nations. Part of the reason OPEC opened up the wells the last few years was to kill competition, but if they halt production to much then the competition comes back. So they have to somehow find the sweet spot for themselves where prices are right below the tipping point where competition comes back.

With the fall of the petro dollar there are greater market forces at play with the pricing of oil. On the OPEC front Iran and Saudi Arabia are not playing well together, behind the scenes there is the usual superpower tensions going on. It really sucks for Venezuela these days as oil made a large chunk for their economy.

With large parts of the worlds population living on a few dollars a day, the days of high oil prices does appear on hold as there is growing competition among oil producers for a greater share of the global oil market. Amongst all the middle east conflict and troubles, lower oil prices is one result from the greater competition going on.

Been going up the last 2 weeks. Over $.60 total here in SW Michigan. My Credit Union card gives me $.50 off a gallon but I only use that in the motor home because it has a 60 gallon tank. Save $24 a couple of weeks ago

Hate to say it, but falling oil prices usually mean something bad around the corner globally. Seen it a couple times before, and sure it will happen again........ www.thenation.com...

originally posted by: ManBehindTheMask
The President doesnt set the prices for oil.........OPEC usually has the direct line on that.....

Our dependence on oil and its cost, and indeed most of the world is at the hands of The Kingdom of Saud and most of the middle east.........

I know the want to blame Obama, and our leaders is strong, its not accurate here........

Funny, it was always Bush's fault....

a reply to: carewemust

For whatever reason, gas gets cheap before every election.
I suspect it's on purpose.

Heard it somewhere that the Middle Eastern instability and the recent chronically low oil prices from OPEC have the entire cartel on shaky group. Some members that are being really domestically hurt by them are thinking about pulling out of the cartel unless prices go back up. So there is internal group pressure. The Saudis are still so rich they don't care, but group members like Venezuela have a catastrophe on their heads domestically because oil is all they are.

This all began because the high prices opened the market to competition from Canadian oil sands and American domestic production from fracking.

The price depression is an effort to starve out that new competition.

It is also true that oil prices can fall before a recession but that's just one of a host of indicators. And the other indicators are starting to show up if you look around. I think a lot of the really bad economic news has been massaged to ease the election. It wouldn't surprise me at all to see a crash after it's over, severity depending, of course, on whom we elect.

The problem with OPEC is they're a bunch of greedy bastards who are always trying to undercut each other. Imagine them as a bunch of different Mob families who are trying to work together.

I do suspect that Obama is trying to keep Deutsche Bank from collapsing until after the election. Because that's going to set off a major financial crisis, and lots of people are going to lose a lot of money.

They always do, I did a thread about it a couple of years ago

www.abovetopsecret.com...

Two things.

One, you give Obama waaaay too much credit. He didn't know about OPEC or the USA price of oil until he saw it on the news like the rest of us.

Two, Obama would much rather see gas prices at all time highs so he can push more failed green energy programs and further destroy the free-falling American middle class.

a reply to: carewemust

The US dollar index, essentially the measure of relative strength of the $ vs other major currencies, has been rising steadily. That's not to say there isn't manipulation involved, but that, coupled with continual record US oil production explains most of the low oil prices.

originally posted by: DonVoigt
They always do, I did a thread about it a couple of years ago

www.abovetopsecret.com...

Thanks to all the responders! I was thinking that Obama planned for the election in advance..maybe back in the Spring, and ordered a lot of extra oil imports and production, to boost reserves, thereby boosting the odds of keeping prices LOW during Fall election season.

Gas has been incredibly low for years now, much to the chagrin of the oil companies. Are you implying a big spike is suddenly coming on November 9th?

a reply to: carewemust

Yeah Obama has no control over the price of gas.

OPEC sets prices. Oil has been down for at least 2 years at this point..



The highest price in the last 10 years was during the 2008 Election, in June.

So..

~Tenth

December 13, 2016

Well, keeping the gas price low didn't hurt..but it didn't help enough either. Now that Donald Trump is in-coming, the prices of petrol are going up... about a dime a week, it seems.