Bush Is Faulted on Economy as Gasoline Prices Rise, Poll Shows (1 Viewer)

[danarhea]

And this I dont understand. I fault Bush on a lot of things, but as far as gas prices go, this is the market at work, and many factors are pushing up oil prices.

1) The most important factor is Chinese competition for oil.

2) Increasing demand here in the US, while refining capacity stays stagnant, is another major factor.

In short, we are addicted to oil, and are not doing a damned thing to remedy the situation. Fault Bush on Iraq, fault Bush on cronyism, fault Bush on a corrupt administration, but do NOT fault him for the oil crunch we are now experiencing. This is OUR own damn fault, not his.

Article is here.

 

[Iriemon]

And this I dont understand. I fault Bush on a lot of things, but as far as gas prices go, this is the market at work, and many factors are pushing up oil prices.

1) The most important factor is Chinese competition for oil.

2) Increasing demand here in the US, while refining capacity stays stagnant, is another major factor.

In short, we are addicted to oil, and are not doing a damned thing to remedy the situation. Fault Bush on Iraq, fault Bush on cronyism, fault Bush on a corrupt administration, but do NOT fault him for the oil crunch we are now experiencing. This is OUR own damn fault, not his.

Article is here.

I agree. It is not Bush's fault, although during the 2000 campaign Bush blamed Clinton for "high" fuel prices (saying he should have "jawboned" OPEC) so what's good for the goose is good for the gander.

Oil is a limited supply with growing demand. Unless you completely disbelieve economic theory, that means prices will rise. We could have had policies in place decades ago that encouraged less use of oil, more fuel efficientcy, and more use of alternative energy, but politically opted for cheap fuel and SUVs for a lot of reasons.

With a little foresight, the country could have been in better shape to deal with this inevitble situation. But not the market will impose change, like it always does, albiet not with the consequences or under the circumstancs we would prefer.

 

[Cremaster77]

I agree. It is not Bush's fault, although during the 2000 campaign Bush blamed Clinton for "high" fuel prices (saying he should have "jawboned" OPEC) so what's good for the goose is good for the gander.

Oil is a limited supply with growing demand. Unless you completely disbelieve economic theory, that means prices will rise. We could have had policies in place decades ago that encouraged less use of oil, more fuel efficientcy, and more use of alternative energy, but politically opted for cheap fuel and SUVs for a lot of reasons.

With a little foresight, the country could have been in better shape to deal with this inevitble situation. But not the market will impose change, like it always does, albiet not with the consequences or under the circumstancs we would prefer.

It's like everything else. There was no way we were going to really move against terrorism until 9/11 happened. It had to happen for the nation to get off its butt and realize it was a real issue. The same goes for gas prices. Your average American is too lazy to get off his butt and do something until it becomes an emergency. There was no way we are truly going to move towards alternative energy and less oil dependence until oil is prohibitively expensive.

 

[Billo_Really]

Originally posted by danarhea
And this I dont understand. I fault Bush on a lot of things, but as far as gas prices go, this is the market at work, and many factors are pushing up oil prices.

1) The most important factor is Chinese competition for oil.

2) Increasing demand here in the US, while refining capacity stays stagnant, is another major factor.

In short, we are addicted to oil, and are not doing a damned thing to remedy the situation. Fault Bush on Iraq, fault Bush on cronyism, fault Bush on a corrupt administration, but do NOT fault him for the oil crunch we are now experiencing. This is OUR own damn fault, not his.

I agree. And I'm about as anti-Bush one could legally get. He should not be faulted for gas prices. In fact, he should be given kudo's for the robust economy. If were going to criticize him on other issues, we have to praise him when it's appropriate.

 

[Iriemon]

2) Increasing demand here in the US, while refining capacity stays stagnant, is another major factor.

Article is here.

I agree that increase US demand is a factor in world oil prices, but is stagnant US refining capacity a really a reason that world oil prices has increased?

 

[danarhea]

I agree that increase US demand is a factor in world oil prices, but is stagnant US refining capacity a really a reason that world oil prices has increased?

Amount of refining capacity does not correlate to world oil prices, but does make an impact at home. Simple supply and demand. If refineries in the US are producing all they can, and unable to produce more, then it is reasonalble to expect that, with a rise in consumption here, comes a rise in price. That counts for part of the cost of our gasoline and other petroleum products. Of course, the other part of the equation is the rise in world oil prices, which naturally results in more price increases at home. These are 2 different aspects which are driving increases of the price of gas at the pump, but both must be factored in.

 

[drobforever]

I think people blame Bush mostly because of his 'ties' with the oil companies. It's not really a good reason, but in politics there's really no need for good reasons to blame a politician, you just blame them. Maybe some people believe that Bush should be able to punish those large oil companies and make them charge lower prices or something like that, I'm not sure.

 

[Pen]

I think it would be quite reasonable to hold Bush and his administration accountable for the massive disruption to Iraqi oil production over the past four years. Oil prices took another jolt with his saber rattling at Iran.

Speculation in oil futures probably has more to do with our current oil prices than anything else.

 

[Iriemon]

Amount of refining capacity does not correlate to world oil prices, but does make an impact at home. Simple supply and demand. If refineries in the US are producing all they can, and unable to produce more, then it is reasonalble to expect that, with a rise in consumption here, comes a rise in price. That counts for part of the cost of our gasoline and other petroleum products. Of course, the other part of the equation is the rise in world oil prices, which naturally results in more price increases at home. These are 2 different aspects which are driving increases of the price of gas at the pump, but both must be factored in.

That presumes that the availability of fuel in the US is dependent upon US refining capability. If that was the real bottleneck, then you would see prices increasing independently of world oil prices, though it appears there is a strong correlation between world oil prices and fuel pump prices, albiet with some lag time.

 

[scottyz]

What about the secret energy meetings Cheney had. I don't think it's a coincidence that when Bush took office with his cabinet of oil industry cronies and investors that gas started to go up in price dramatically. Invading Iraq and shutting down U.S. refineries just made it worse.

 

[dragonslayer]

I agree. It is not Bush's fault, although during the 2000 campaign Bush blamed Clinton for "high" fuel prices (saying he should have "jawboned" OPEC) so what's good for the goose is good for the gander.

Oil is a limited supply with growing demand. Unless you completely disbelieve economic theory, that means prices will rise. We could have had policies in place decades ago that encouraged less use of oil, more fuel efficientcy, and more use of alternative energy, but politically opted for cheap fuel and SUVs for a lot of reasons.

With a little foresight, the country could have been in better shape to deal with this inevitble situation. But not the market will impose change, like it always does, albiet not with the consequences or under the circumstancs we would prefer.

For instance, China is socialist country. The government purchases the oil and sell it for what it wants to it's people. There is no need to make a big profit, they just want to generate enough revenue purchase more gas and oil.
China and Siberia have huge reserves of oil and gas. If the price is to high, they don't buy. The oil companies that distribute to you and me have pay off investors like Bush and Cheney, etc. Only matter is what the investors are getting for their investments. consumers are just a victim of wonderful corporate, no competition, capitalism. Maybe, just maybe our prices are a bit inflated. Remember the rich and corporations pay no taxes now. We the people are screwed.

 

[python416]

I agree. And I'm about as anti-Bush one could legally get. He should not be faulted for gas prices. In fact, he should be given kudo's for the robust economy. If were going to criticize him on other issues, we have to praise him when it's appropriate.

The Bush administration has help to configure the economy to feed the demand side of the curve with oil: by not requiring better mileage standards, by suggesting that American's should not worry about conservation, by giving tax breaks on the purchase of the most gas guzzling cars, etc.

This is part of the cause of gas prices today, because it feeds demand.

The problem is not the price of gas, but that alot of that money goes into the hands of America's enemies and indirectly funds terrorism.

Gas is actually cheap in the US compared to almost any other industrialized nation.

 

[scottyz]

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Gas is actually cheap in the US compared to almost any other industrialized nation.

That's usually because they pay more taxes on it. Many of them get national health care and better roads for it.

 

[Deegan]

That's usually because they pay more taxes on it. Many of them get national health care and better roads for it.

Hahahahahahahahhaha!

Sorry, but Hahahahahahahahha, that makes no sense, health is an issue that matters very little to the heathy, which most Americans are! Lazy a$$holes infect the "national heathcare" system, and use it to not work, much like you witness in Europe, it's a joke, and I don't want my country to become a joke!

JFYI, we have very good roads here, more then all of Europe actually, look it up.

 

[danarhea]

Hahahahahahahahhaha!

Sorry, but Hahahahahahahahha, that makes no sense, health is an issue that matters very little to the heathy, which most Americans are! Lazy a$$holes infect the "national heathcare" system, and use it to not work, much like you witness in Europe, it's a joke, and I don't want my country to become a joke!

JFYI, we have very good roads here, more then all of Europe actually, look it up.

I guess from that you dont live in Texas. Here in Houston, 288 is being completely redone from the Beltway all the way to Highway 6. I personally had a blowout from a pothole on that highway. Highway 59 is being completely revamped for the third time inside the Loop. Seems they couldnt get it right the first 2 times. And the clincher is the segment of I-45 from Houston to Galveston. Construction on it has not stopped since it began in the 1950's, and lanes are still shut down on a routine basis. These are only 3 instances. There are many more. The US and Interstate highways here in Houston are a complete disgrace. You would think that, with all the money the federal government steals from the taxpayers, this situation wouldn't exist, but it does. If the feds nationalized the beer industry, they could not make it for under $100.00 a six pack.

 

[python416]

That's usually because they pay more taxes on it. Many of them get national health care and better roads for it.

Taxes on gasoline are a would be a great way of surpressing demand, and the money left over could go to fund all of the military spending required to secure the supply chain - money that currently gets paid using money borrowed from China. The added benefit is that the enemies of America would net less money out of our own hands - so we wouldn't be funding both sides of the war on terror (as much as we aree now).

 

[aps]

I am probably one of the few people who fully support the increase in gas prices. People should be conserving gasoline. When gas is cheap, people don't think to conserve. When it's expensive, people will decide to NOT go somewhere to save $$. That is the way it should be.

As for blaming Bush for the prices, I don't know enough to state that his close ties to oil companies has had any impact on gas prices. But if people want to blame him, by all means go right ahead! LOL