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Thread: only the rich....

  1. #1
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    only the rich....

    only the rich will be able to afford to drive soon... :steamin:

    The rapid rise in oil and gasoline prices in recent weeks not only threatens the nation's economic recovery but also has become a political headache for the Obama administration.

    Gas prices have surged since the beginning of the year to $3.58 a gallon nationally, according to AAA, and energy analysts expect the increases to continue. Most experts predict the national average will cross the $4 threshold in coming weeks, though drivers in some markets are paying that much already. Benchmark oil has been trading above $105 a barrel, up 5 percent in four days.

    Energy analyst Stephen Schork said $4 a gallon gas is likely--and could shock the economy.

    "These high gasoline prices, be they here in the United States or in Europe or in China, for that matter, will certainly slow and potentially tip the globe back into recession," he said.

    As consumers spend more on gas and other energy, they will be forced to cut back elsewhere. And the sticker shock of $60 fill-ups is a drag on consumer confidence, which had been recovering in recent months, not to mention the psychological effect of those dollar-mark thresholds.

    "When it breaks $4, if it breaks $5, that becomes a sign of angst, anxiety, fear, worry among many people who don't have a big cushion," said Leonard Steinhorn, professor of political communication at American University. "This, politically, is not good news for the White House."

    Steinhorn said anything that interrupts the recovery carries a big risk for a president seeking reelection in the fall. "The White House is and ought to be worried about anything that can tip it back or slow it down," he said.

    Job gains and the improving economy helped push President Obama's approval rating to 50 percent in the most recent CBS News / New York Times poll, the highest it's been since last May, right after Osama bin Laden was killed. His numbers on handling the economy and job creation were up significantly.

    So with the president's political fortunes tied so closely to the economy, the White House certainly is paying attention to gas prices.

    "There are no magic solutions to rising oil prices and the pain that Americans feel at the pump," White House spokesman Jay Carney said Tuesday, blaming turmoil in oil-producing regions and increased demand from India and China for higher prices.

    Phil Flynn, an energy analyst with PFG Best in Chicago, said much of the crude oil increase that's behind higher gas prices is being driven by the potential for conflict over Iran's nuclear program.

    "Tensions are running high," Flynn said. "And when tensions run that high there's always that chance, of course, that supplies will get cut off and prices have to reflect those increased risks."

    He said those risks have been "priced in" to crude oil and that the current price spike will likely be temporary. "But still, in the short run, it will do a lot of damage to the economy," he said.

    Whatever the reasons behind the increase, as prices continue to climb, drivers will blame the administration for the added cost to fill the tank.

    American University's Steinhorn said there's little the administration can do other than speak directly to the public about why prices are high and hope drivers understand--a hard case to make and one that provides an easy avenue of attack for the president's Republican opponents.

    "This is a good talking point. It's red meat. People understand it because it relates to them personally," Steinhorn said. "This is just a gift for them."

    Indeed, it's becoming a campaign issue for the Republican presidential candidates to hammer the administration, with both Rick Santorum and Newt Gingrich pointing to President Obama's policies for the spike.

    "The high price of gasoline has been a direct result of Obama," Gingrich said Tuesday on CBS This Morning. "His policy has been outrageously anti-American energy."

    Gingrich said the president has given domestic energy production short shrift in favor of a policy emphasis on green energy and greater fuel efficiency. And Gingrich repeated his campaign pledge to drive gas below $2.50 a gallon by tapping more domestic sources.

    "I want American energy, which is practical and available now, to liberate us from Saudi Arabia," he said.

    Jay Carney, the White House spokesman, rejected the Gingrich attack. He said that U.S. oil production has increased in each year of the Obama administration.

    "American oil production is at its highest now than it's been in eight years," he said.

    Since the high prices are not being driven by domestic demand, which is down, the political argument about where the oil comes from is moot if the economy tips back into recession. And that's a real possibility, according to Stephen Schork, the energy analyst.

    "Gasoline prices, if they continue on this path, are certainly in the danger zone of causing an economic contraction toward the end of this year," he said

    cbs news.

  2. #2
    I guess no one remembers $4.40 a gallon under Bush.

  3. #3
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    both parties are garbage. :steamin: we should find a way to suspend the national gas tax on the american consumer. it would be nice also as a country to be able to use our own resources for once...

  4. #4
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    [QUOTE][B][URL="http://reason.com/archives/2012/02/22/arent-high-gas-prices-what-democrats-wan"]Aren't High Gas Prices What Democrats Want?[/URL][/B]

    [B]If high energy prices were to damage President Barack Obama's re-election prospects, it would be ironic.[/B]

    [URL="http://reason.com/people/david-harsanyi"]David Harsanyi[/URL] | February 22, 2012


    [B]Gas prices are spiking. That's great news, right? We have to wean ourselves off the stuff. At least that's what we've been hearing for years. [/B]Oil is dirty. We import it from nations that hate our guts (like Canada!). And moreover, we're running out. Oil is "finite." Finite much in the way water is finite.


    So why aren't Democrats making the case that the spike in prices is a good thing? Isn't this basically our energy policy these days? How we "win the future"? If high energy prices were to damage President Barack Obama's re-election prospects, it would be ironic, considering the left has been telling us to set aside our "dependency"—or, as our most recent Republican president put it, "addiction"—for a long time.


    If Democrats had their way, after all, we would be enjoying the economic results of cap-and-trade policy these days—a program [I]designed[/I] to increase the cost of energy by creating false demand in a fabricated market. As the theory goes, if you inflate the price of fossil fuels, the barbarians might finally start putting thought into how peat moss might be able to power a toaster.


    In 2008, Steven Chu, Obama's (and, sadly, our own) future secretary of energy (sic) lamented, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." The president, when asked whether he thought $4-a-gallon gas prices were good for the American economy, said, "I think that I would have preferred a gradual adjustment."
    How gradual? Like, what, four years? Or is it eight?


    Part of "figuring it out" surely had something to do with the recent decision by Obama to nix the Canadian Keystone XL pipeline project that would have pumped 700,000 barrels of oil per day into the United States. More oil just means more excessive, immoral, ugly energy use.


    Well, get used to it. You can't take three steps without stepping over some potential 10-billion barrel reserve of dead organisms.


    [B]According to the Institute for Energy Research, there is enough natural gas in the U.S. to meet electricity demand for 575 years at current fuel demand, enough to fuel homes heated by natural gas for 857 years and more gas in the U.S. than there is in Russia, Iran, Qatar, Saudi Arabia and some place called Turkmenistan combined. Oil? The U.S. Energy Information Administration estimates that the United States could soon overtake Saudi Arabia and Russia to become the world's top oil producer. There are tens of billions of easily accessible barrels of offshore oil here at home—and much more oil around the world.[/B]


    Yes, gas prices have spiked an average of 14 cents a gallon in the past month and about 30 cents a gallon since last November, according to AAA. Oil prices jumped to a nine-month high—more than $105 a barrel—after the Iranians shut down their own energy exports to Britain and France so they could start a much-needed nuclear program, which is, no doubt, for wholly peaceful purposes.


    Given the fungibility of commodities and the track record of civilization in the Middle East, we'll likely always have to deal with occasionally painful fluctuations in the price of energy, regardless of what we do at home—drilling and new pipelines included. Still, fluctuations have a lot better track record than price controls.


    [B]Subsidizing quixotic green companies or creating carbon credits won't stop the rules of basic economics. If the gas crunch starts hitting the economy, it's doubtless that we will get an earful of populist hand-wringing and that we'll hear the administration once again blame wealthy speculators and nasty oil companies.[/B]


    [B][I]Yet in the end, high gas prices are part of the plan. This is what the administration wants.[/I][/B]


    [I]David Harsanyi is a columnist at The Blaze. Follow him on Twitter @davidharsanyi.
    [/I]
    [/QUOTE]

    [url]http://reason.com/archives/2012/02/22/arent-high-gas-prices-what-democrats-wan[/url]

  5. #5
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    We've been spoiled with low gas prices for decades and compared to Europe we still are and poor people there still seem to drive.

  6. #6
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    [QUOTE=FF2®;4374110]I guess no one remembers $4.40 a gallon under Bush.[/QUOTE]

    I remember it was blamed on Bush.

    I am sure this is too.

  7. #7
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    [QUOTE=Piper;4374502]I remember it was blamed on Bush.

    I am sure this is too.[/QUOTE]

    It wasn't so much as blame as recognition of a Great Irony. Guy from Texas. Securing oil fields in Iraq... Many supported the guy thinking, at the very least, oil should stay cheap.

    High oil prices under Obama shouldn't be a surprise. It's what we've been warned about Obama all along.

  8. #8
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    [QUOTE=majormajor42;4374516]It wasn't so much as blame as recognition of a Great Irony. Guy from Texas. Securing oil fields in Iraq... Many supported the guy thinking, at the very least, oil should stay cheap.

    High oil prices under Obama shouldn't be a surprise. It's what we've been warned about Obama all along.[/QUOTE]

    His Energy Secretary wanted European oil prices, and he got it.

    And the rest of us got it - up the butt.

  9. #9
    In the run up to the 2008 election Obama had said that one of his ideas for pressing green technologies is to increase taxes on gasoline. The theory is that because most green tech is only viable when gas prices are high the government as a policy should pursue higher gas prices in order to shift people to renewables. The explosion in gas prices shouldn't come as a surprise. This is what the administration stated they wanted.

  10. #10
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    [QUOTE=chiefst2000;4375428]In the run up to the 2008 election Obama had said that one of his ideas for pressing green technologies is to increase taxes on gasoline. The theory is that because most green tech is only viable when gas prices are high the government as a policy should pursue higher gas prices in order to shift people to renewables. The explosion in gas prices shouldn't come as a surprise. This is what the administration stated they wanted.[/QUOTE]


    Complete amateur hour. When business owners and citizens (even the people on the govt teat) are paying $4.75 a gallon his approval numbers will plummet for sure. If the timing is such that unemployment flatlines at say 8.5 and gas prices are $4.50ish in the fall, Romney coasts.

  11. #11
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    [QUOTE=chiefst2000;4375428]In the run up to the 2008 election Obama had said that one of his ideas for pressing green technologies is to increase taxes on gasoline. The theory is that because most green tech is only viable when gas prices are high the government as a policy should pursue higher gas prices in order to shift people to renewables. The explosion in gas prices shouldn't come as a surprise. This is what the administration stated they wanted.[/QUOTE]

    So much complaining from the right about tax rhetoric, they forget to look at the facts of what has actually transpired. Nothing but lower taxes across the board.

  12. #12
    [QUOTE=parafly;4375857]So much complaining from the right about tax rhetoric, they forget to look at the facts of what has actually transpired. Nothing but lower taxes across the board.[/QUOTE]

    Don't worry about this stuff, Obama could never get re-elected, well if you listen to the guys in the know here. :rolleyes:

    Santorum said God will make everything ok. Just chill!

  13. #13
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    SAR had to take a bus today.

    Dark days indeed

  14. #14
    [QUOTE=PlumberKhan;4375991]SAR had to take a bus today.

    Dark days indeed[/QUOTE]

    Don't most foot fetish guys?

  15. #15
    [QUOTE=parafly;4375857]So much complaining from the right about tax rhetoric, they forget to look at the facts of what has actually transpired. Nothing but lower taxes across the board.[/QUOTE]

    You should read Obama's latest budget and get back to me on the tax issue.

  16. #16
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    [QUOTE=chiefst2000;4376000]You should read Obama's latest budget and get back to me on the tax issue.[/QUOTE]

    Wake me up when taxes are actually raised. As usual, Obama will cave.

  17. #17
    [QUOTE=chiefst2000;4376000]You should read Obama's latest budget and get back to me on the tax issue.[/QUOTE]

    Tax Proposal.

  18. #18
    Cut some taxes, double dividend taxes. A little here and a bunch there and continue to spend money that isn't there. Not just Obama BTW.

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