Explain How Obama And His Kind Made Gas Prices Escalate?

Question

http://www.usatoday.com/news/politics/election2008/2008-07-21-mccain-ad-gas_N.htm?csp=34

I need to publish your answers. You cons start a war in the middle east and you say the libs are responsible for high gas prices.

Answer 1

Face it - the Republicans (and I will use that term because it is the Republican Party - hijacked or not - that produces or supports such ads) are the number one group for using 'smoke-and-mirrors' and misdirection tactics rather than actually addressing the real issues.

Senator Obama was sworn into the US Senate in January, 2005. Bush and the Republican-controlled Congress invaded Iraq in 2003, effectively cutting off that country's oil supply to the rest of the world. Our current gas price escalation process started with that event, was made worse by Hurricane Katrina and its effects on the Gulf coast refineries in mid to late 2005 (again exacerbated by the Administration's bumbled handling of its response to that crisis).  By the late summer of 2006, however, the price of crude oil and gasoline had DECREASED - crude oil at $66.00/bbl in Sept, $58.60/bbl by October 3, 2006; gasoline was less than $2.50/gallon by that time.

By early 2007, after civil unrest in Nigeria (a major oil exporter), oil pipeline disruption in the North Sea and action by OPEC to reduce production, oil prices has gone back up to about $75/bbl and gasoline over $3.00/gallon.

From that time forward, oil has increased more and more quickly in price while gasoline followed suit.

It was at that time that many in the oil industry and economists started to believe that the "peak oil" time had arrived.

>> Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Because the world's petroleum supply is effectively fixed, if global oil consumption is not mitigated before the decline phase begins, a world energy crisis may develop because the availability of conventional oil will drop causing prices to rise, perhaps dramatically. M. King Hubbert first used the theory in 1956 to accurately predict that United States oil production would peak between 1965 and 1970. <<

http://en.wikipedia.org/wiki/Peak_oil

http://in.reuters.com/article/oilRpt/idI...

>> While there is no agreement yet on the exact date that world oil production will peak, the degree of consensus among them is quite remarkable. Out of 21 studies, the statistical mean date is 2013 (excluding some of the biased oil company estimates), suggesting that the world may be facing shortfalls much sooner than expected.

      Recently, CNN and Britain’s Independent also point out the reality of Peak Oil, acknowledging that world oil and gas reserves are as much as 80% less than predicted.<<

http://www.oildecline.com/

There is much debate about the validity of the 'peak oil' doctrine as well as about whether we are approaching the peak oil point, but oil speculators apparently have no doubts about it.

>> “Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery.”

“Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab.”

“Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.” <<

http://www.myfoxcolorado.com/myfox/pages...

And guess who opposed closing the so-called "Enron loophole" that deregulated oil speculation? You guessed it - JOHN MCCAIN!!

>> May 19, 2008—Sen. John McCain says he opposes the $307 billion farm bill because it would dole out wasteful subsidies, but his chief economic adviser Phil Gramm also wants to stop its proposed regulation of energy futures trading, a market that was famously abused when Enron Corp. manipulated California’s electricity prices in 2001.

Clearing the way for that California price gouging, Gramm, as a powerful Texas senator in 2000, slipped an Enron-backed provision into the Commodities Futures Modernization Act that exempted from regulation energy trading on electronic platforms.

Then, over the next year, Enron – with Gramm’s wife Wendy serving on its board of directors – worked to create false electricity shortages in California, bilking consumers out of an estimated $40 billion.

Gramm left the Senate in 2002 but now has emerged as what Fortune magazine calls “McCain’s econ brain,” not only filling the Arizona senator’s acknowledged void on economic expertise (“I don’t know as much about the economy as I should”) but recognized as one of McCain’s closest friends in politics. The two men talk daily. <<

http://www.baltimorechronicle.com/2008/0...

McCain's advertisement is patently false and is reprehensible.  It should be removed from the airwaves and the McCain campaign should be penalized for running it.

Answer 2

McCain is a complete doofus, who's going to buy that crock of poo?  If he airs that BS it's game over for him, anyone with 1/3 of a brain knows gas prices are cuz of the war in the Middle East.  Reason I say 1/3 of a brain is cuz there are those who will believe it, not knowing any better.

Answer 3

Every time when I think politics can't sink any lower in America, someone surprises me. Even if we had started drilling in Alaska and offshore decades ago, the price of oil would only be  a few cents lower. There simply isn't that much oil in Alaska or off the coast, and to suggest that it is a solution for the current situation is either deliberately deceitful or stupid beyond belief. Since I don't think McCain is stupid, it must be the former. Which pretty much shows what he thinks of the typical American voter, since he expects many of them to believe this tripe.

Gotta give the modern neocon party (I won't call them Republicans or conservatives because they have utterly betrayed true conservative Republican ideals) credit for one thing, they are consistent: If something good happens, they are responsible, if something bad happens, it's someone else's fault. I don't know what more repulsive, that they consistently do this or that millions of Americans consistently fall for it.

Answer 4

Offshore drilling will NOT have any effect on oil prices. There are plenty of available sites for drilling that the oil companies do not take advantage of now. IT's all propaganda.

Answer 5

Since when do Republicans need facts to back up their statements?