Archive for the ‘Oil’ Category

Gas was $1.61 when Bush left office

When George W. Bush left office in January of 2009, the average price of a gallon of regular gas in America was $1.61. Today the average price of a gallon of gas is $3.54. Many analysts expect $5 gas this summer.

Every penny of increase in gas prices takes $1 BILLION out of the U.S. economy. So when the price of gas goes up $1, that’s $100 BILLION sucked out of the U.S. economy, or about $1,000 a year out of the typical American household — not chump change.

Of course, Obama has done nothing to promote American energy independence. He has squandered billions on windmills, solar power, and failed green energy projects, like Solyndra. No one’s buying his stupid Obama Volt car that he forced GM to make. The Obama Volt only has a range of 35 miles on a battery charge, plus you have a gigantic battery taking up much of your back seat. What a fiasco.

Meanwhile, he’s blocked drilling for oil across the U.S., on our continental shelf, and in Alaska. He blocked the Keystone oil pipeline from Canada. He’s blocked “fracking” — the extracting of oil from shale. The U.S. has more oil underground than Saudi Arabia.

The U.S. has oceans of oil underground — enough to last us 500 years even if we don’t find anymore. But Obama and the Left won’t let us access it.

The consequence is we are forced to buy our oil from the Middle East, thus financing terrorism against us, and from America hating dictators like Hugo Chavez in Venezuela — all because Obama won’t let Americans drill for oil here.

Here’s the price of a barrel of Brent Crude oil right now . . .


Oil prices tumble as Obama dumps U.S. oil reserves on market (which are supposed to be reserved for crisis)

ASSOCIATED PRESS: Wary of a new surge in gas prices, the Obama administration has decided to release 30 million barrels of oil from the country’s emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya.

The release from the U.S. Strategic Petroleum Reserve will amount to half of a 60 million barrel international infusion of oil planned for the world market over the next month.

“We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery,” Energy Secretary Steven Chu said Thursday.

The administration said the uprising in Libya has resulted in a loss of about 1.5 million barrels of oil a day. The release comes as the United States approaches a period of high energy use in July and August.

Read more here >>>

 

Goldman Sachs: $5 gas coming this summer. Was $1.61 when Bush left office.

Obama thinks $4 and $5 gas is funny (See Video Below)

NEW YORK POST: The forecast for the summer driving season: Hit the road early. Not to beat the traffic, but to beat the higher gas prices expected in mid-July.

Goldman Sachs’ crystal ball is proclaiming that oil will soon soar to $135 a barrel, and likely have service stations jacking up fuel prices to $5 a gallon in New York just like the summer of 2008 that preceded the recession.

Indeed, analysts say Goldman and the other oil trading giant that also has the might to move prices, JPMorgan Chase, have already placed their energy bets for the summer. JPMorgan predicts oil hitting $130 a barrel in the coming weeks.

Read more here >>>

The average price for a gallon of gas nationally was $1.61 a gallon when George W. Bush left office. The average price per gallon is now $3.81.

But in many states, the price for a gallon of gas has smashed through the $4 barrier.

I just paid $4.25 today for gas here in La Grange, Illinois. It’s now $4.57 per gallon in Chicago. In California, the price is approaching $5 a gallon.

Most schools are out next week. That’s when the summer driving season begins. So expect a new spike in the price of gas.

Here Obama tells us high gas prices are good, but says he would have “preferred a gradual adjustment.”

Here Obama explains his transportation plan. It involves phasing out cars.

Here’s another pillar of the Obama energy production plan

Obama thinks inflating your tires will cushion the blow at the pump.

Obama Thinks $4 or $5 for a Gallon of Gas is Funny

JAMES TARANTO-WALL STREET JOURNAL: At a town-hall meeting yesterday in Fairless Hills, Pa., a man in the audience asked Obama about gasoline prices, which are currently in the range of $4 a gallon. According to the Associated Press, Obama responded “laughingly” and “needled” the questioner. The president’s sarcasm comes through in the White House transcript:

I know some of these big guys, they’re all still driving their big SUVs. You know, they got their big monster trucks and everything. You’re one of them? Well, now, here’s my point. If you’re complaining about the price of gas and you’re only getting eight miles a gallon–(laughter)–you may have a big family, but it’s probably not that big. How many you have? Ten kids, you say? Ten kids? (Laughter.) Well, you definitely need a hybrid van then. (Laughter.) . . .

So, like I said, if you’re getting eight miles a gallon you may want to think about a trade-in. You can get a great deal. I promise you, GM or Ford or Chrysler, they’re going to be happy to give you a deal on something that gets you better gas mileage.

Read more here >>>

But you have to actually watch the video clip to get the full flavor

Families spending $168 more per month on gas than a year ago

ASSOCIATED PRESS: There’s less money this summer for hotel rooms, surfboards and bathing suits. It’s all going into the gas tank.

High prices at the pump are putting a squeeze on the family budget as the traditional summer driving season begins. For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal.

Households spent an average of $369 on gas last month. In April 2009, they spent just $201. Families now spend more filling up than they spend on cars, clothes or recreation. Last year, they spent less on gasoline than each of those things.

Read more here >>>

Oil settles above $112 a barrel. Markets closed for Good Friday.

Benchmark West Texas Intermediate crude added 84 cents to settle at $112.29 per barrel on the New York Mercantile Exchange.

ASSOCIATED PRESS: Oil rose on Thursday, as the dollar weakened amid signs U.S. demand for crude remains robust despite rising fuel costs.

Benchmark West Texas Intermediate crude added 84 cents to settle at $112.29 per barrel on the New York Mercantile Exchange.

In London, Brent crude rose 14 cents to settle at $123.99 per barrel.

There will be no trading of oil today because the markets are closed for Good Friday.

Read more here >>>

$6 gas by summer?

CNBC: A dollar plumbing three-year lows is hitting Americans squarely in the gas tank, and one economist thinks it could drive prices as high as $6 a gallon or more by summertime under the right conditions.

High gas prices in California
CNBC
High gas prices in California

With the greenback coming under increased pressure from Federal Reserve policies and investor appetite for more risk, there seems little direction but up for commodity prices, in particular energy and metals.

Weakness in the US currency feeds upward pressure on commodities, which are priced in dollars and thus come at a discount on the foreign markets.

One result has been a surge higher in gasoline prices to nearly $4 a gallon before the summer driving season even starts, a trend that economists say will be aggravated as demand increases and the summer storm season threatens to disrupt oil supplies.

Read more here >>>

Oil surges past $111 a barrel

Expect gasoline prices to continue to soar upward as the price of oil spikes past $111 a barrel. Obama’s oil drilling moratorium in the Gulf combined with bans on oil drilling in Alaska and off the U.S. Coast, in addition to the fact that no new oil refineries or nuclear power plants have been built in the U.S. in decades are factors contributing to the spike in oil prices.

Obama’s missionless Libya war, betrayal of a U.S. ally in Egypt, failure to lead in the Middle East, and his obvious foreign policy incompetence are yet more factors contributing to America’s price shock at the pump.

$5 gas hits U.S. Capital. It was $1.61 when Bush left office

UPI: Gas prices hover one tenth of a cent under five dollars per gallon at a gas station in Washington on April 19, 2011.

Unrest in the Middle East and price speculation have steadily led to higher oil prices and consequently higher gas prices throughout the year so far.

Read more here >>>

Gas prices as sure to keep rising as the price of oil continued its super-spike upward, crashing through the $109 per barrel level and with summer driving season about to start.  Of course, most people will likely be cutting way back on their driving, opting for more hiking and camping.

Gas was $1.61 when George W. Bush left office . . .

Gas is $2.80 a gallon . . . in Mexico

WOAI NEWS: Such a deal! How would you like to be able to fill up at $2.80 a gallon?

Gasoline prices like that are available but there’s one catch…they’re in Mexico.

But 1200 WOAI’s Michael Board says plenty of south Texans are ducking to avoid the bullets from the gang wars, to gas up at prices which are as much as a dollar lower than prices in the United States.

“When Piedras prices are under ours, a segment of Eagle Pass residents go to Piedras Negras to fill up,” says Chad Foster, the former Mayor of Eagle Pass and currently a real estate agent who sells property on both sides of the Rio Grande.

Read more here >>>

Here Obama tells us high gas prices are good, but says he would have “preferred a gradual adjustment.”

Here Obama explains his transportation plan. It involves phasing out cars.

Here’s another pillar of the Obama energy production plan

Obama thinks inflating your tires will cushion the blow at the pump.

Obama Thinks $4 and $5 for a Gallon of Gas is Hilarious

JAMES TARANTO-WALL STREET JOURNAL: At a town-hall meeting yesterday in Fairless Hills, Pa., a man in the audience asked Obama about gasoline prices, which are currently in the range of $4 a gallon. According to the Associated Press, Obama responded “laughingly” and “needled” the questioner. The president’s sarcasm comes through in the White House transcript:

I know some of these big guys, they’re all still driving their big SUVs. You know, they got their big monster trucks and everything. You’re one of them? Well, now, here’s my point. If you’re complaining about the price of gas and you’re only getting eight miles a gallon–(laughter)–you may have a big family, but it’s probably not that big. How many you have? Ten kids, you say? Ten kids? (Laughter.) Well, you definitely need a hybrid van then. (Laughter.) . . .

So, like I said, if you’re getting eight miles a gallon you may want to think about a trade-in. You can get a great deal. I promise you, GM or Ford or Chrysler, they’re going to be happy to give you a deal on something that gets you better gas mileage.

Read more here >>>

But you have to actually watch the video clip to get the full flavor

$5 Gas by Memorial Day. Was $1.61 when Bush left office.

CBS-CHICAGO: At one time, $5 per gallon gas seemed like a farfetched idea, but that is no longer the case. As CBS 2’s Roseanne Tellez reports, as of Monday, the average price for a gallon of regular unleaded gasoline in the Chicago area is $4.11, compared with $3.71 a month ago, and about $3.10 a gallon at this time a year ago.

Some experts say $5 per gallon gas is possible by Memorial Day-or sometime in summer. Others caution that reaching that mark is unlikely over the next six weeks. In Chicago, the prices keep rising to near-record levels–with no relief in sight.

Right now, oil markets are so skittish that records set in 2008 could fall.

Read more here >>>

The average price for a gallon of gas nationally was $1.61 a gallon when George W. Bush left office. The average price per gallon is now $3.73.

But in many states, the price for a gallon of gas has smashed through the $4 barrier.

I just paid $4.25 today for gas here in La Grange, Illinois. It’s now $4.57 per gallon in Chicago. In California, the price is approaching $5 a gallon.

Experts believe the average national price for a gallon of gas could hit $5 by Memorial Day.

Here Obama tells us high gas prices are good, but says he would have “preferred a gradual adjustment.”

Here Obama explains his transportation plan. It involves phasing out cars.

Here’s another pillar of the Obama energy production plan

Obama thinks inflating your tires will cushion the blow at the pump.

Obama Thinks $4 for a Gallon of Gas is Funny

JAMES TARANTO-WALL STREET JOURNAL: At a town-hall meeting yesterday in Fairless Hills, Pa., a man in the audience asked Obama about gasoline prices, which are currently in the range of $4 a gallon. According to the Associated Press, Obama responded “laughingly” and “needled” the questioner. The president’s sarcasm comes through in the White House transcript:

I know some of these big guys, they’re all still driving their big SUVs. You know, they got their big monster trucks and everything. You’re one of them? Well, now, here’s my point. If you’re complaining about the price of gas and you’re only getting eight miles a gallon–(laughter)–you may have a big family, but it’s probably not that big. How many you have? Ten kids, you say? Ten kids? (Laughter.) Well, you definitely need a hybrid van then. (Laughter.) . . .

So, like I said, if you’re getting eight miles a gallon you may want to think about a trade-in. You can get a great deal. I promise you, GM or Ford or Chrysler, they’re going to be happy to give you a deal on something that gets you better gas mileage.

Read more here >>>

But you have to actually watch the video clip to get the full flavor

Trump says Obama to blame for skyrocketing gas prices

CNBC: Real estate developer Donald Trump blames President Obama for the rising price of oil, warning, “this country can never, ever recover” if oil prices continue to go up.

“That’s really the life’s blood of the country,” Trump told CNBC in a phone interview on Monday. The Trump Organization chairman, who says he’s considering running for president, plans to decide “before June” on the matter.

He contended that Obama is not a leader and is “in bed with these (OPEC) people. He doesn’t speak the way you have to speak to them.”

Read more here >>>


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