Oil prices have Doubled since Obama took office.

Whenever oil prices went up under Bush, lefties were always quick to point out how Bush was taking care of his oil buddies.

On January 19th oil was trading at $34.78 on Friday it closed at $68.44. So in less than 5 months in office oil has DOUBLED under Obama. Where is the outrage? Where is the MSM reporting on this?

newsbusters.org...

Virtually every time oil and gasoline prices rose when George W. Bush was in the White House, his policies and/or his connections to folks in the oil industry were blamed by newsrooms from coast to coast.

Yet, even though oil has doubled in price since Inauguration Day, with retail gas prices up $0.75 a gallon, you'd be hard-pressed to find reports blaming these spikes on President Obama or anything he's done since taking office.

The media is trying to ensure that Obama is successful. During the Carter years it got so bad that a "Misery Index" was created. Where do we stand on the "Misery Index" right now? I guess we will never know, because the media is very careful to protect this guy.

Mod Edit: All Caps – Please Review This Link.

[edit on 7 Jun 09 by Gools]

You may be right it doubled that day but has steadily declined following that day. However the gas prices keep giong up. Besides what the heck does that have to do with the president? It's the greedy corporation doing this.

Surely it’s actually a good sign that the world-American economy is recovering.
Had “Marxist” Obama allowed America to collapse like it did in 1929 (which was good old uninhibited capitalism) then oil prices may well have halved since Obama took office.

Which would be a very bad sign indeed (since there’s absolutely no benefit if something cheap because you can’t afford it)

Whenever oil prices went up under Bush, lefties were always quick to point out how Bush was taking care of his oil buddies.

America has over 300 million people so I'm sure many simplistic idiots have (casually-lazily) linked rising global demand & lack of world production capacity, personally with Bush (despite him only being president for 8 damaging years).
However please explain to me how this allegedly works (if it ever deserved credibility)?

But for most people…
The accusation was…
1. Wanting to drill in Alaska was Bush taking care of his oil friends
2. Not investing in renewables was bush taking care of his Saudi 9/11 buddies.
3. Not opening any new nuclear power plants was Bush taking care of his coal buddies.
4. Not sighing Kyoto was Bush taking care of his industrial backers.

This I can believe as it works.

I don’t deny that America is in deep sewage because (for the first time) higher commodity prices are being dictated by the growth of other economies (i.e. China)
This is bad because the inflation effect will harm America’s economy.

However with October 2008 being practically a carbon copy of October 1929; every day when America has an economy without the middle class starving, is also a day to be thankful to Obama’s tough decisions (and the philosophising of academics (who to be fair) would have probably received Republican support too).

Hey look, it's the left/right illusion rearing it's ugly head again! I must give in to it, I must choose a side, I must bicker endlessly while the real culprits get away. Nope, not gonna do it.

Rex Tillerson > Obama.

Peace

reply to post by Dr Love


Love it! How about this...Every spring gas prices start to creep up (for the vacation driving season, I guess) and by late fall they typically fall. The only mystery here is how the media acts so astonished that prices are going up every summer, do they really think we're all that dumb? We know we're manipulated, but we're powerless to do anything about it. That's why I visit this site I guess. Certainly not to argue left/right agendas, that is the biggest joke of all.

I believe some posters are missing the point. Of course gas prices increase every summer. However that is not the issue here. The fact is, Bush (who I am not even a fan of) was blamed for this or for protecting his oil buddies, as the OP states, when everyone knows this is just what happens during summer travel time. However, when Obama is president, it's suddenly 'just the way things go during the summer' when that is all it has ever been, even with Bush.

It's an issue of media bias. Do I think it was Bush's fault oils prices skyrocketed during the summer? No. Do I think it was Obama's fault oil prices skyrocketed during the summer? No. However, the media makes it appear it was all Bush's fault when it happened but the tables turn when it happens under Obama's presidency and the truth is actually stated: It's the way it goes during the summer.

That is the point the OP is trying to get across. He's not trying to make this an issue of 'look at what Obama has done. It's all his fault.'

[edit on 6/8/2009 by AshleyD]

reply to post by AshleyD


Excellent points.

And now you know why first there was a bow, and ultimately the gift of a golden necklace.

The Obama administration and majority ruled congress have either by accident, or meant to restrict US domestic drilling and exploration of oil.

In doing so that assures our increasing dependence on foreign oil.

It seems to have made the Saudis very happy!

In my opinion, Obama is going to allow gas prices to rise above 4 bucks a gallon and then he will take over the oil industry.
As a result we will never have an arguement about off-shore drilling again because they (the oil companies) will all be run by the government.




-I'm saving my 2 cents-

reply to post by ldyserenity


If you want my take, $75 a barrel for oil is what i want to see. This allows US drilling operations to manage a profit and keep folks employed.

In my part of the world we are woefully tied to the oil industry. During the recent boom things went swell. Now that we see a bust, crime is getting out of control.

That is just my 2 cents.

reply to post by bigfatfurrytexan


Interesting take....and, of course, you're from Texas, so...

To the OP, though....come on! Let's try a different outlook:

Oil reached, at one point last year, over $100/bbl. Prices began to fall, after the election. SO, Obama affected oil prices in a (according to everyone except Texans ) good way! Couldn't the "spin doctors" describe it that way??

Of course, to another poster....we already saw over $4/gal!!! Again, diring Bush's term.

So....rather than trying to assign blame to a President, why not admit that there are dozens of other forces at work here....

BTW....has anyone remembered the "Other Reason" for the Iraq invasion? Yes, the intials 'OR'....Oil Recovery, all for US! How's that working out, so far, former Prez?

reply to post by weedwhacker

So....rather than trying to assign blame to a President, why not admit that there are dozens of other forces at work here....

Absolutely....although he certainly gets some blame...it is not all of his making.

Countries that supply our oil need it to sell for so much a barrel...if it does not reach that threshold, it is damaging to their economies as many are completely reliant on their oil exports. The need it to go up. Any glimpse of recovery will increase gas prices.

Then you have inflation and the weakening dollar as other countries are beginning to realize that our debts cannot be repayed.

It may have a little to do with it being summer...but in reality I think it's a small influence.

Gas prices have doubled here since it hit a low of 1.44 earlier this year. That is not due to demand. Demand should still be going down..people are still losing their jobs, which means companies are using less product and need fewer resources, people aren't traveling as much due to NOT having a job.

These need to be taken into consideration.

Gas prices will continue to rise. Inflation will make sure of that.

[edit on 7-6-2009 by David9176]

reply to post by David9176

Gas prices have doubled here since it hit a low of 1.44 earlier this year.

Wow! $1.44!!! You must be living in Shangri-La.

EVEN after pump prices began to fall here, from nearly $4, we never saw it below $2...well, maybe $1.99 (but, I buy Premium). Now, as I look outside, it's $2.49 to $2.89. Hardly doubled! Only went up, as Spring approached, which is normal.

Pump prices aren't always a direct result of market bbl price, everyone should know that. There are refining costs, distribution and, sometimes, just plain old market gouging (or, as some call it...pricing).

Neither Bush, nor Obama sits there and dictates gasoline prices!

Oil prices double from $34 to $68 when you isolate the period from when Obama came i. Factor in they were at their lowest level in years in January. Now at $68 that are about half what they were a year ago.

And prices are based on futures not current selling rate. $68 is not a high price in relative terms. Oil producing countries only start showing a profit on oil exporting at that level. The higher the price the more exploration and infrastructure upgrading there is.

So in a way depressed oil prices may be good for the consumer in the short term, but not for the long haul.

Mike

Originally posted by Dr Love
Hey look, it's the left/right illusion rearing it's ugly head again! I must give in to it, I must choose a side, I must bicker endlessly while the real culprits get away. Nope, not gonna do it.

Rex Tillerson > Obama.

Peace

Don't forget that it's because he's a black man too.

Honestly. Like it has been said before. Politics is here to divide us. Some people need to get that into their thick skulls. *glares in a certain direction*

reply to post by weedwhacker

Wow! $1.44!!! You must be living in Shangri-La.

Yeah, after hitting a high of over 4 dollars months prior! Gas prices near me at the time where the lowest in the state. Now they are up to 2.95 currently.

reply to post by RRconservative


And how is that Obamas fault? Our resources around the world are becoming limited and yet the demands of the american people continue to rise. We consume nearly a quarter of the worlds energy consumption and yet we expect our needs to be fufilled for the next couple of next decades. Folk dont understand the decrease in oil prices towards the end of the last administration was the result of a temporary exploitation of the energy resources in Iraq.

What I more funny is the fact folks here expect the oil reserves in Alaska (which already has BP and shell sites there for years) and the assumptive oil reserves under the rockies to fill our 25% ratio of oil consumption. At best we have 6% of the worlds oil reserves beneath our feet, no more, and yet you folks expect this to fill the needs of a nation requiring atleast a quarter of the worlds oil.

We need to get off this addiction to oil, it aint everlasting and I can tell ya the only reason we're still making excuses for it is because some higher ups want their oil buddies to continue their financial gain. Our issues with Iran, Iraq, our constant and unstable presence in the middle east, all because of oil. We would do ourselves a great service developing alternatives not just for the sake of fufilling our needs, but for the sake of our foreign policy as well.

[edit on 7-6-2009 by Southern Guardian]

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]

And your point is?

People of ATS please realize political debate is worthless since they're 99% puppets.

Our job should be promoting real people into office not argue about this system.

reply to post by RRconservative


What does Obama have to do with oil prices?

Oil FUTURES prices are set depending on many variables ...

1. Supply and demand
2. Projected supply
3. Projected demand
4. PRICE OF THE US DOLLAR
5. Seasons

With the world economy in recession and demand low a lot of supply was taken out of the system to compensate. Now with some hope in the future of the world economy they are projecting a lot more demand but the supply is still low. Plus the dollar is weak and we're at the beginning of summer where prices are traditionally high.

Please RR, do some research as to what affect oil futures ...

These false causalities are getting tiresome.

Don't blame politicians, what we all should be thinking about is why in the hell we an oil producing nation have to spend so much buying foreign oil.

Now that is the one trillion dollar question.