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When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon, an increase of 26 percent. By December 2011, the price of regular unleaded gas per gallon was $3.28, an 83 percent increase from January 2009.
I think it is important for us to send some price signals to change behavior, you know. If electricity goes up, people start becoming more mindful of their electricity bill.
Gas prices have risen despite the fact that, according to the U.S. Energy Information Association, domestic crude oil production increased from 5.0 million barrels per day in 2008 to 5.5 million barrels per day in 2010. That same year marked the first time in 13 years the country imported less than 50 percent of the oil the United States consumed, a trend continued in 2011.
The Federal Energy Regulatory Commission and the New York bank are exchanging drafts of an agreement that would result in J.P. Morgan paying hundreds of millions of dollars, these people said. The fine, they said, likely will be larger than the record $435 million fine levied by FERC on Tuesday against British bank Barclays BARC.LN +0.05% PLC for its alleged manipulation of the California energy markets from 2006 to 2008. Barclays said on Wednesday that it intends to fight the matter in court.
The settlement discussions had included a possible fine of close to $1 billion, but the figure has gotten smaller as talks have progressed, these people said.
It isn't clear whether J.P. Morgan will admit wrongdoing as part of a settlement, and the discussions still could fall apart, the people close to the talks said. Spokesmen for J.P. Morgan and FERC declined to comment.
Originally posted by xuenchen
It's all part of the plan.
People are forgetting what Obama said, and they certainly aren't paying attention to what he is doing.
It's commie Cloward-Piven on a runaway train.
We are nearing the point of no return.
The sleight-of-hand is getting the best of us.
Originally posted by Ameilia
reply to post by elouina
The solution to high beef prices is to eat more chicken.
Don't expect the prices to go down on any of this stuff. Make substitutes and alternative plans instead of complaining about high prices.
Originally posted by elouina
Originally posted by Ameilia
reply to post by elouina
The solution to high beef prices is to eat more chicken.
Don't expect the prices to go down on any of this stuff. Make substitutes and alternative plans instead of complaining about high prices.
The high prices don't affect me any. But they certainly affect those on limited incomes. It sounds like you welcome Obama's ideology and are pushing his agenda. "Make substitutes and alternate plans". Not everyone has that luxury. I wonder how much thought Obama gave this while flying on his gas guzzling Airforce One for his vacations around the world.
Definition of 'Substitution Effect' The idea that as prices rise (or incomes decrease) consumers will replace more expensive items with less costly alternatives. Conversely, as the wealth of individuals increases, the opposite tends to be true, as lower-priced or inferior commodities are eschewed for more expensive, higher-quality goods and services - this is known as the income effect.
Originally posted by xuenchen
reply to post by Ameilia
Substitution effect becomes Stockholm effect.
The commodities markets are manipulated on a worldwide scale.
They create shortages and surpluses, many of which are phony.
Originally posted by elouina
reply to post by Ameilia
Unfortunately the poor can't afford more costly substitutions. Economy 101, "How To make The Working Poor Destitute, Raise Energy Costs". Perhaps you are saying that gas, electricity and heat are luxuries only to be afforded by the rich? Perhaps the poor should just walk to work, wear a coat at home, and maybe burn some candles? All while they wait for Obama's ingenious plan to work? Are you people paid to sit at keyboards all day defending Obama? Sheez!
Perhaps you are saying that gas, electricity and heat are luxuries only to be afforded by the rich?
Perhaps the poor should just walk to work
wear a coat at home, and maybe burn some candles?
All while they wait for Obama's ingenious plan to work?
Are you people paid to sit at keyboards all day defending Obama? Sheez!
Mar 18, 2009 - Uploaded by BattleBornPAC
Barack Obama: "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket ...
Originally posted by GogoVicMorrow
reply to post by elouina
Gas prices are helping to destroy the economy. I love roadtripping. If gas was lower many people would drive more often, further, and in leisure. What do people do when they get out? They spread their money around. They get exercise and don't stay in eating and watching brain rotting shows.