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"What's behind the higher prices at the pump? It's a confluence of factors, from rising crude oil prices, to production cuts and refinery closings.
"Right now, things are tight worldwide," said Ray Carbone, president of New York commodities trading firm Paramount Options. "Refineries going down, unanticipated maintenance, and higher demand ... going into driving season."
Two-thirds of the cost of one gallon of gas comes from the price of crude, which has jumped 10% in the last two months, according to the Energy Information Administration.
As the U.S. housing market experiences a resurgence, the jobs picture brightens and consumer spending expands, anticipation of higher oil demand is driving up prices. At the same time, fears have ebbed that there would be a protracted slowdown in China's economy, which would have dampened global demand for oil. "
Why gas prices have risen for 32 days straight - Feb. 17, 2013
We can see you are still in the 90s which is why you cant accept what is being stated for in this day and age......and precisely at this very moment in time. Which is energy prices are up 90% over YOUR BOY Obama time in office. Note that's 90% from last year alone.
Why the increase in gas prices?
See the increase in world oil prices below:
Oil Is Still the Key to U.S. Economic Future - Seeking Alpha
Which is why it would behoove us to increase our domestic supply via fracking....oh wait, you and Democrats are against that too.
Did you just deliberately forget Obama's taxes as part of that scenario.....and not really as the point was that production has not gone down in the world. So there is no speculation that it would when the G8 agreed to keep their reserves open.
We have increased fracking. The problem is those that bet on the price of commodities on the world market expect world demand to be greater than world supply in the near future.
I just love how some Conservatives give the President magical powers when they criticize him.
Can someone please explain to me how Obama has control over a globally traded and priced commodity?
Taxes? We have some of the lowest gas taxes in the world! The speculators don't think world oil supplies are going to keep up with world oil demand in the near future and they are the ones that set the oil prices.
I showed you why from historical records and you ignored it:
Don't worry NY is making up the difference with Cigarettes at 12 dollars a pack. :lol:
It appears your own red font has blinded you to historic fact:
Hell of a deal!!!
"NEW YORK (CNN/Money) � Gasoline prices in the United States, which have recently hit record highs, are actually much lower than in many countries. Drivers in some European cities, like Amsterdam and Oslo, are paying nearly 3 times more than those in the U.S.
The main factor in price disparities between countries is government policy, according to AirInc, a company that tracks the cost of living in various places around the world. Many European nations tax gasoline heavily, with taxes making up as much as 75 percent of the cost of a gallon of gasoline, said a spokesperson for AirInc.
In a few Latin America and Middle-East nations, such as Venezuela and Saudi Arabia, oil is produced by a government-owned company and local gasoline prices are kept low as a benefit to the nation's citizens, he said."
CNN/Money: Global gas prices
Yes, Im sure thats what you think. Commodities traders are confident the lib idiots in DC will choke off supply as much as possible in the US, squeezing prices higher.
Another factor is refining capacity, we havent built a new refinery in this country in years. Regional supply issues cause a lot of the gas price swings we experience all the time.
Why the increase in gas prices?
See the increase in world oil prices below:
Oil Is Still the Key to U.S. Economic Future - Seeking Alpha
Right, commodities traders probably have no knowledge of world oil prices through history:
I didn't ignore it.....it was you that used this chart to say this.
Why the increase in gas prices?
See the increase in world oil prices below:
Which this chart doesn't show the current reality with Iran nor why prices have gone up 51 cents in the last two month. Nor does it mention anything about Regulations implemented by the Obama Administration.
Btw the Font is Burgandy, not red.....and your Historic Facts doesn't include the last set of Sanctions on Iran nor the more current ones that Obama placed on them. Nor those taxes he and his team imposed.
Despite your red font, you've yet to prove that sanctions on Iran hold a match to the expected increase in world oil demand.
Most likely reason is seasonal maintenance for US refineries.
In the last year or so, it seems that pump prices are inelastic when compared to crude prices.
Increasing demand in China specifically, and probably India are also factors.
We can also thank the Saudis and OPEC for not increasing output.
To late I already stated that that there wasn't any drop in oil production.....internationally that is. So you misread into it to go into talking point about the future demand of oil. Which again no one even disputes such.
But the speculation for traders was put at ease since the CNN report of 2012, after the G8 stated there would be no shortages for that global economy and to keep gas prices down. Which happens to pertain to what is taking place now and the reasons why the gas is so high.
Moreover you forgot about what triple A said about that east Coast refinery which is contributing to why gas prices are as high as they are now under Obama.
See Obama just like any other man that was President can do something to affect the price.....it starts with the Regulations. Doesn't matter which party. The next President can do it, the one after too. Oh and the macro says burgundy not red. So your wrong there too.
See Obama just like any other man that was President can do something to affect the price.....it starts with the Regulations. Doesn't matter which party. The next President can do it, the one after too. Oh and the macro says burgundy not red. So your wrong there too.
Which is why it would behoove us to increase our domestic supply via fracking....oh wait, you and Democrats are against that too.
The POTUS office does not have the power, nor should get involved directly.
There are too many domestic and international variables that are uncontrollable.
The POTUS office does not have the power, nor should get involved directly.
There are too many domestic and international variables that are uncontrollable.
Just continue to ignore world demand if that makes your spin work.
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