Oil prices have Doubled since Obama took office., page 2
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reply posted on 7-6-2009 @ 01:41 PM by bigfatfurrytexan
Originally posted by Donkey_Dean
reply to post by RRconservative


If the MSM starts reporting on rising gas then they drive it even higher. It is pure speculation that drives the oil prices. The last thing we want is another situation were oil seems like the best investment on earth.

There is and has not been any oil shortage.

[edit on 7-6-2009 by Donkey_Dean]


This is true. There are thousands of well projects in the planning right now. I live in a small town in West Texas, and we only have a few small time drilling operations here. But here is what is happening in Big Spring right now:

Patterson Drilling (they are really from Midland, the mecca of US oil business) - 220 rigs unstacked and sent to Pennsylvania to drill new wells

JB Hunt - 130 wells contracted in the next 3 months.

Robinson Drilling - 200 wells contracted in the next 3 months.

Unfortunately, we lost Big Dog drilling (from Midland) in the recent bust. They were over extended and not prepared to weather the storm (many believe they were just in it for the quick buck in the first place, hence their horrible safety record).

The catalyst for all this: oil has to be above 70 a barrel to make any money drilling it in the US. There is no oil shortage...just a shortage of oil costing less than 70 bucks a barrel.

I will say that Key Energy is cutting back hours, and Paul Musslewhite is closing a yard, and Basic Energy laid off a few folks. This is more due to chemical well pumping, and a lack for the need for hot oil truck drivers. But i don't think the chemical wells will work long term...we will see.

[edit on 7-6-2009 by bigfatfurrytexan]


reply posted on 7-6-2009 @ 01:46 PM by RRconservative
Originally posted by schrodingers dog
reply to post by RRconservative


What does Obama have to do with oil prices?



Exactly the same effect that Bush had on oil prices. That is my point!

Can you imagine if oil would have doubled right when Bush took office? Someone would have mentioned it...but with this President....nothing is said. The media is treating him as if he is too big to fail.



reply posted on 7-6-2009 @ 01:49 PM by Tentickles
reply to post by RRconservative


You're stretching that pretty far.

We were not in a full blow recession when bush took office, the dollar wasnt declining like a brick in water and unemployment wasnt soaring to the moon.

There are just to many economic factors to this. You cant blame one man. The media understands this and the people do as well.

Please pull the fur tree out of your ears because it's blocking your eyes.

[edit on 6/7/2009 by Tentickles]


reply posted on 7-6-2009 @ 01:54 PM by RRconservative
reply to post by Tentickles


Speaking of unemployment....When Obama took office the unemployment rate was 7.6% now it is at 9.4%. Guess we'll blame Bush on that too.



But wasn't Obama's massive debt producing stimulus package suppose to create jobs and stimulate the economy?


reply posted on 7-6-2009 @ 01:59 PM by David9176
reply to post by RRconservative




Speaking of unemployment....When Obama took office the unemployment rate was 7.6% now it is at 9.4%. Guess we'll blame Bush on that too.


Dude those numbers were going to happen anyway. Unemployment was rising long before OBAMA TOOK OFFICE.

No man, NO ONE, can stop the actual unemployment rising with the economy with the shape it was in.

The policies he has been doing will likely make things worse which SUCKS...but that is besides the point.

The correlation you are trying to make is a falsehood.

You don't hate the mans beliefs and ideology...i just think you hate the man.



[edit on 7-6-2009 by David9176]


reply posted on 7-6-2009 @ 02:04 PM by DrZERO
The only thing Obama is doing to effect oil prices is continuing the deficit spending policies of Bush at a hyper-accelerated level. Both these men push the same agenda and serve the same masters.

Do you really think you can just introduce 14+ Trillion new dollars into the money supply without the value of the dollar being affected?

14+ Trillion, that's more than the annual US Gross Domestic Product, looted by foreign bankers in less than 7 months.

The biggest take in criminal history.

With more spending, bailouts and deficits to come, and signs such as the Chinese laughing at Little Timmy Geithner when he tells them not to worry about the dollar; the price of oil will go up along with the price of everything else, because your dollar won't be worth the paper it's printed on.

This reminds me of times when I hear people say, "Invest in Gold, it's a good investment because it's going up in value."

No it's not, gold is at the same value it's always been (that's why we used to use it to back our currency when we had a REAL monetary system).

Gold prices are up because your dollar's value is going down, and down, and down.

I believe a dollar now is worth a little over 2 cents of a 1913 dollar backed by gold.

These guys have taken so much money, (even trillions devalued is billions!) and left the American people with our worthless scraps of paper. And it's all out in the open.

And you want to argue weather or not Obama is manipulating oil prices?

WAKE UP.

that's my $.25

and you can keep the change.

pun definitely intended.

[edit on 7-6-2009 by DrZERO]


reply posted on 7-6-2009 @ 02:37 PM by Pabama
People did complain/blame about Bush and gas prices-

www.yuricareport.com...



Bush needed/wanted/craved/coveted reelection in 2004, and, without big oil's financial backing, that was simply not going to happen. Can you imagine the outrage in Houston when they caught wind of the White Houses’ plan? They weren't about to let "good ole' boy" Bush interfere with their own plans to completely suppress Iraq's oil reserves, because if they were released, those record-breaking, obscene, and unimaginable oil company profits that everyone's so outraged about lately (except rich Republican stock holders that is) would evaporate in mid air; that's why!

blogcritics.org...


www.salon.com...

headline?) Oil companies: High gas prices are Bush's fault

books.google.com...

May 6th 2005- two thirds of Americans though Bush could do something to lower gas prices


The guy was blamed. In my opinion, somewhat rightly.

That wasn't the original point. The point is Bush was blamed, Obama isn't.
Why? Is it media bias? I would say for one, we're used to seeing oil at 70 a barrel. Gas at $2.75. If oil started reaching 100 and gas at $3.50 plus, it might be a more gripping news story again. In the wake of all the other stories the media is covering, it just doesn't have any bite.

Two- Bush was an oil man. That's fact. So clearly, people are going to have this idea, true or false, that Bush was in with the oil people, looking to make them rich.

I'm sure there are other reasons too. But let's not pretend it didn't happen.

Oh, and there's plenty of oil on this planet. Plenty. Uganda is just the latest country to realize their enormous oil potential.

business.timesonline.co.uk...


reply posted on 7-6-2009 @ 03:38 PM by elitegamer23
en.wikipedia.org...

oil was 20/ barrel before bush took office. the last summer he was in office it topped out at i think something like 147/barrel.

now what were you saying about obama and the price of a barrel of oil?

[edit on 7-6-2009 by elitegamer23]


reply posted on 7-6-2009 @ 06:57 PM by pai mei
Peak oil
www.energyinvestmentstrategies.com...

9.1 % decline means half the current production in less than 10 years.

The last big field was discovered around 1980.

Search for "peak oil" and "export land model"
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