When gas prices are high especially in an election year, the president is going to be blamed. His opponents promise to lower the price and quickly. On Anderson Cooper the other day, I argued that this is pure political pandering. The president can't do much in the short term to affect the price of oil. I discussed this with Anderson Cooper and Stephen Moore, senior economics writer for the Wall Street Journal. Here's a transcript of our discussion:
Anderson Cooper: President Obama spent today attending fund-raisers for his re-election campaign raising more than $5 million. The men who want the president's job were also on the trail ahead of Tuesday's primary in Illinois. One line of attack picking up considerable steam for the leading Republican candidates is the rising price of gas. They would have you believe that bringing down gas prices is as simple as casting a vote for president.
But our question is, can the president, any president, really do much to affect the prices, or is it all just, well, politics? We are "Keeping Them Honest" tonight. There is no doubt an issue a lot of Americans care about. Gas prices rose again just today to a national average of just over $3.83 a gallon, that's up almost 56 cents since the beginning of the year. Now, Newt Gingrich has made it his mantra. He says if he's elected president he can bring the price down to $2.50 a gallon. Here's a quote: "I'm happy to say the Gingrich plan moves you towards $2.50 or less. The Obama plans moves you towards $9 or $10 or more."
Fareed, is this just rhetoric?
Fareed Zakaria: It's pure political pandering.
Look, the world consumes about 80 million barrels of oil a day. The total U.S. increase in production, if you were to do everything that Newt Gingrich fantasizes about, would be less than half a percent of that. So the chance that it would have any impact on the price of oil, particularly in the short run, is pure fantasy. Newt surely knows better.
The truth of the matter is that we are in the middle of a great boom in domestic gas production. We are at the highest levels in 30 years. The United States for the first time is actually exporting gas rather than importing gas, and it has made no difference to our prices. In fact, as we can see, gas prices have gone up. Why? Because, (A) China is growing, India is growing, etc. and (B) people are worried about a possible war with Iran - geopolitical concerns. So these are not things that you can easily fix. You're not going to get China to slow down. You are not going to change the fact that there are genuine concerns about Iran. Increasing American domestic production is such a marginal issue at this point that it's really totally irresponsible for Newt Gingrich to be saying this.
Anderson Cooper: Stephen, you disagree?
Stephen Moore: Well, look, I agree in the short-term. Fareed is right that it's not much that Barack Obama can be done over next month or something to reduce the high price of gasoline and Fareed is also right that major reason we're seeing the spike right now is because of what's happening in the Middle East. I agree with those two things.
But it's also true, Fareed as you know, that this president has been completely hostile to domestic production of oil and gas. It is true we have a big increase, but that's not because of Barack Obama. He's opposed the drilling - the permitting we could do.
You're right we've seen an increase, but I just got back from North Dakota. What's going on there is a miracle. I mean, we have more oil right now in states like North Dakota, Oklahoma, Colorado, California, than Saudi Arabia has oil. And I think the reason this is a political problem for the president is Americans are connecting the dots. They're seeing the fact that when we're not doing things that make so much common sense, like building the Keystone pipeline, that we not doing the drilling, or not doing the permitting to exploit our own natural resources, I think the Americans understand, 'Wait a minute, that hits me in the pump.'
Fareed Zakaria: But as Stephen is pointing out, all this oil is being drilled. In point of fact, whether or not the president is enthusiastic about it or whether what's happening is over his grudging objections, the truth of the matter is, we are in the midst of a huge oil boom and still prices are rising.
And Keystone is a total red herring because, of course, the Keystone oil is going to be excavated, it is going to be produced, it is going to be used. It is going to be used by China or us. It makes not a jot of difference to the price of oil because that oil will reach the world market.
And so, when we talk about this, yes, maybe hypothetically, if there were a president who would green light every single project that Stephen would like, maybe you'd increase production marginally. We have actually increased production substantially and it's not led to any reduction in price. In fact, there are increases in demand and there are geopolitical fears.
Anderson Cooper: Stephen, do you believe that Newt Gingrich can bring it to $2.50 a gallon?
Stephen Moore: Yes, I do. I have seen presidents do this when one of the reason this is such a hot button issue, Anderson, is because of the fact that one of the reasons that Jimmy Carter lost the election 1980 was because of very high gasoline prices a result of very high inflation.
Fareed Zakaria: Let me ask you a question?
Stephen Moore: Yes, hold on. Let me finish my point. Reagan brought the inflation rate down with Paul Volcker, and by the end of Reagan's first term in office, the price of gasoline fell in half. So, yes, I have seen it happen.
Fareed Zakaria: Because the economy went into a recession. Oil prices are also collapsed when we had the global financial crisis. But, Stephen, let me ask you this –
Stephen Moore: Wait. By 1984, the economy was booming. We have oil prices half what they were. Look, I'm not disagreeing with you in the short term. What I'm saying is for example, I have been in Washington 20 years, Fareed. We've been debating whether we should drill in Alaska for 20 years. If we'd done those 20 years ago, we'd have the oil right now and I do believe that would affect the world oil price.
Fareed Zakaria: You know, Stephen, that the quantity of oil we're talking about is not going to make a difference. Let me ask you though: Do you agree the short-term increase in prices is because of geopolitical uncertainty?
Stephen Moore: Yes.
Fareed Zakaria: I would love to hear some Republican candidate say this. In the short term you wanted to bring the price of oil down, here's the way to do it: Promise that under no circumstances you will invade or attack Iran. Say that you will freely accept all Iranian oil and that, in fact, encourage them to increase production. Would that or would that not be the single thing that would bring the price of oil down right now?
Stephen Moore: Well, that's a little bit out of my realm of expertise. I'm not expert.
Fareed Zakaria: But you know it's true.
Stephen Moore: Well, look. I mean, we all want stability in the Middle East and want Iran to demilitarize. But my point is, look, because we've had 50 years of turmoil in the Middle East, Fareed, what I don't understand about the president's energy policies, why aren't we doing everything we possibly can to drill for as much oil as we can here in the United States?
It is especially important now because the price is so high. If the price of oil goes to $110 a barrel, don't you think that makes sense not just from an economic standpoint from a national security standpoint, Fareed that we drill as much as we can here so we don't have to send so much money abroad to countries like Venezuela, Iran and Saudi Arabia?
Fareed Zakaria: I will say it one more time. We are at a 30-year high, we are exporting gas for the first time. That has not driven the price down. The idea that marginal influences and a few more drills even in Alaska - and by the way, I actually agree with Stephen that we should be doing more in terms of domestic oil production - but the idea it would have an effect on the price seems to me quite silly. It could have an effect on energy independence, which mostly now comes from Canada, with us not importing as much oil from the Kingdom of Saudi Arabia.
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Stephen Moore needs to do a little research and come to a debate with real facts before he opens his mouth. He sounded like a spokesman for the oil industry instead of an informed reporter.
Obama said he wants the same gas price as EUROPE – Well, if THEY can do it, HE should be able to???? Unless you're a Liberal and REALLY believe your own propaganda?
So, republicans – When gas hit a maximum of $4.12 a gallon under Bush, was that HIS doing? Guess what – Presidents don't set the price of gas, the market does.
You can quote the statement and date, of course.
As a republican, I have to agree with Obama that the US approach has to be an "all of the above approach." This is indeed is the long term solution however Zakaria is F.O.S. if he doesn't believe the President's policies have affected gas prices today. Despite what the Fed says, there is inflation just look at gas and food prices if you don't think so. Second, the domestic oil production is a result of Clinton and Bush policy, not yours Mr. President. Third, the less money we export to Saudi Arabia, Venezuela and Russia for oil, more is circulated in our own system which means jobs, a smaller trade deficit and a better economy. Mr. Obama, this is your problem.
Your right Presidents don't set the price of gas, the market does. But Presidents set policies and those policies can create international tensions. The geopolitical tension surrounding Iran is being caused by US policies calling for severe sanctions against Iran. It is the geopolitical tension that is causing speculators to drive up the price of oil. Reduce the tension and the price of oil will drop or stabilize.
A good part of the "political instability" driving up the price of oil revolves around the fact that, except for Ron Paul, all of the leading GOP candidates have talked about bombing Iran as a move to stem their ambitions in the nuclear arena. I just wonder if any of them would be willing to "own" that fact? Probably not.
TellItLikeITIS,
Since Obama-bashers SELDOM tell the truth about quotes from Obama,
WHAT IS HIS EXACT QUOTE?
Like everything else in the free-market, the price of gas will come down when consumers realize that this is their problem and stop expecting politicians to solve the problem. So - how do WE make the prices come down: creaste less demand. It's the law of the free market! Less demand = use car pools, scotters, bikes, and mass transit; move close to work or schoo or work from home if possible; buy things locally (not what has to be shipped); and, above all, teach your children to do the same.
Norwegians produces oil and gas offshore, they have to pay very high gas bills – over $9 for a gallon. We all do in Europe as Carbon Tax is imposed on all fuel products. But Norway doesn't increase its production to bring the prices at home down. The country prefer the high revenues from their exports. The effects of high gas bills affect individuals differently. Some don't mind to pay more, some do. Yet the huge export revenues benefit the Norway as a whole. See it out of macroeconomic point of view.
when will we just admit that the oil cartels/companies have us over the barrel?
Your remark is just ignorant. Typical name calling Republican. Fareed is right on and you just don't like the truth. It would really help the GOP if they just started telling the truth. They wrecked our economy several times. The first Bush was a disaster, Clinton fixed it. GWB weacked us and Obama fixed it, and he has, but it will take more time. Are we going to let the GOP wreck our economy again?
When did Obama ever say he wanted the gas prices to be the same as Europe? Some people so so misinformed it's ridiculous! The only reason they are so high there is because they tax the crap out of it. No one has talked about tax increases on gasoline in 10 years probably 20.
I dont think thats the point.
You are so wrong
Jack – That was Obama's fault, too. In fact, all you have to do to understand Obama is to follow the GOP playbook. If something is seen as bad, then it had to be due to Obama. If it is seen as good, it was due to the GOP, period. It doesn't matter when it happened. Good = GOP, Bad =Obama. Repeat until your are comatose.
CNN I beg you to quit publishing this hack. Z is a socialist Obama mouthpiece. I find it funny Obama voted against the pipeline to carry Canadian crude to refineries in the US. You know why? He is doing his buddy Warren Buffet a favor. Buffet doesn't want the pipeline built so the Canadian oil companies have to use the Canadian railroads, which Buffet bought last year, to haul the oil. It's not a coincidence that Nebraska will not let the pipeline be built through their state. If Obama was concerned about oil prices, he wouldn't be pulling these shenigans.
You are more full of *^%# than an out of order toilet at a diarrhea convention. Source please! I know that many conservatives nowadays prefer faith over facts, but like many recovering addicts say, "you can't escape reality."
You're an idiot with your own agenda. There could be a report that comes out tomorrow that casts all the blame on that proves Obama had nothing to do with the current prices, and you wouldn't change your mind.
America is getting smarter, and people like me see through your propaganda bullcrap.
Maybe you will believe your own kind after watching this....Or maybe you are a blind fool that knows nothing but hatred for the President.
this idiot writer must be one of Obama Jr...i bet
You know that he never said that...you're just posting some more RW nonsense to keep the argument going.
Back in June of 2009, Gasoline price was approaching 4.00 per gallon. Obama blamed Bush and Cheney as the reason for the price increase. Goes around, comes around. Obama recently agreed with Cameron to release some oil from the reserves to try and bring down gasoline prices. Again, if Obama believes that he can not do anything about it, why does he agree to release oil. This President has been a walking contradiction.
Obama never said that, Stephen Chu did.
Obama never said he wanted the same prices as Europe. In fact Rick Santorum said that, in June of 2005
They are right! It IS NOT Obama's doing, it is OBAMA'S POLICIES DOING. Don't blame hime, Just blame all of his terrible idea's that he enacted!
So uh...the gun toting, "Don't take our guns/jobs/build a mosque in New York", nationalist Republicans want us to backtrack and pander to Iran now? Makes sense.
I noticed people trying to portray Zakaria and Obama as socialists. I see every time someone like Zakaria talks sense with his education, knowledge and truthful facts, such ridiculous conservatives try to paint them with lies and no facts. It would be better for these conservatives to gain knowledge and face the facts if they were to do any justice to humanity.
I Canada we pay an average of $4.79 for a gallon and we do not cry like baby
Well it goes both ways in every election. Obama blames Bush for the economy and price of gas and says that he will change things and it helps get him elected. Now it is pointing at him and it will cost him votes. Some people know that the president can't do too much about an economic downturn, it is a natural occurrence. The problem is that many people have no clue and vote with what they view on TV, so either side has gains and losses because the less informed are the majority. Look at most of the comments above and you will see what I mean.
Do not cry argentina... In Canada we pay an average of $4.79 for a gallon and we understand... why?
agree completely with JackLM. gas prices went up 7 out of 8 years under Bush and Republicans didn't say it was his fault. we got real problems in this country because of this partisan blindness. we are producing more gas and oil in this country now than we have in decades, but the prices keep going up. Why can't Republicans acknowledge that China's growth and price gauging are the main culprits? We need a party of the truth. Gas prices now are still lower than when they peaked during the Bush admin. in '08 adjusted for inflation.
JackLM- No, it wasn't Bush's doing. But if you'll recall Senator Obama blamed Bush for the rising gas prices, so I guess it's karma.
Partisan hacks seem to drown out the real reasons here. I personally do not like being played by politicians. I will state what everyone else seems to be afraid to – Speculation causes the price fluctuations, and geopolitical unrest causes hoarding which is a perfect storm for the Wall Street speculators. Now, why is there geopolitical unrest? ISRAEL. They are fueling this for their own ends – they want to start hassles and get us to fight their battles. Is everyone so stupid to not see them fanning the flames in an election year? If they pick a fight it is their fight.
To Concerned: Many (and I would say probably Most) of us in Nebraska have no problem with the Keystone pipeline being routed through Nebraska, we just didn't want it going anywhere near our aquifer. We are an agriculture economy in this state and it just makes sense to protect that resource.
I have no problem with it being rerouted along the same path as an already existing pipeline on the eastern side of the state. The infrastructure and the EPA reports needed should already be there and ready to go,
This had nothing to do with Warren Buffet. It had everything to do with protecting our states resources.
Its greed and nothing else that runs up the price of oil.....Tensions are an excuse....Why isn't someone decrying McCain for running around war mongering and giving them an excuse to raise it.....
just like 9-11 happened because Bush was not doing his job
Please site your source for your claim that President Obama wants gas prices to equal those in Europe. Oh and Fox news is not a source with any credibility.
Europeans pay far more for gasoline than we do even at today's prices so this doesn't make any sense.
Your all wrong neither dems nor repub can do anything and heres why. The owners (that 1 percent) control everything and their objective is to get all the money they haven't already stolen and now there going after your social security and there going to get it to.
What is your source for this statement?
And you sound like you drank to much kool-aid
It sure IS obamas doing. It's the only way he can 'force' alternate energy to be affordable when gas is $10 a gallon.
He hates oil, he's cutting their subsidies. He's a loser president who cares nothing for the people, and you stupid liberals lick his shoes and bow to him.
So, when gas went to $4.12 a gallon under Bush, was that HIS doing? Wake up, Presidents don't set the price of gas, the market does.
Why should oil have subsidies? Where do subsidies come from? TAX REVENUE! Saving $1 in gas prices to pay $2 (overhead + interest since we're in deficit spending) in taxes to subsidize profitable industries seems rather stupid don't you think?
Your an idiot. It is more likely your fault by driving a giant over sized POS to make up for your lack of size between the legs.
Compensate like Bush did by invading Iraq
Lets see, Obama HATES OIL, and you morons think he gives a CRAP about making it affordable? Wake up foolish people, Only when gas is $10 gallon will alternate energy remotely compete.
And that's EXACTLY what obama WANTS TO FORCE even if he doesn't 'control' it directly.
if ya think one republican cares about you and your family -hold your breathe....hold....hold longer....hold.........
HE DOES EFFECT OIL PRICES. HIS POLICIES HAVE A DIRECT IMPACT ON PRICING. TO THINK OTHERS IS DUMB AND NOTHING MORE THAN ANOTHER EXCUSE OF OBAMA'S IN HIS EFFORT TO ALWAYS BLAME OTHERS. JUST LIKE A SPOILED KID
He hates oil, he's cutting their subsidies. He's a loser president who cares nothing for the people, and you stupid liberals lick his shoes and bow to him.
Stomp, dribble, spew, rant, ggggrrrrr,
me gonna hold my breath until he is voted out of office
dang communist marxist socialist kenyan muslim with no
birf certificat...............................wwwhhhaaaaaaaaaaaaaaa
Rob – spoiled? You mean like when a child has a tantrum and YELLS. Hmmmmmmm?
Blame the EPA. No matter how much oil is produced per day, the refineries can only process x amount and the EPA has blocked the building of any new refineries for many years. Believe there have been no refineries built in over 20 years.
Gas prices are high because the gas companies make more money when they sell the gas for money money. What is so hard to understand about this? Gas companies have been making RECORD profits year after year after year. President Obama HAS tried to reign in these blood sucking companies who what you to believe they are so mistreated by having to actually protect the environment, which we know they will throw out with the trash if given half a chance to make more money. You want to lick the boots of the oil execs, you go right ahead. I'm voting for Obama, who REALLY does care about leaving something worth having to our children's children.
Michelle is right. Blame the EPA. Who the heck needs clean air and water? I remember spending a couple of weeks in China. I never saw the sun through the smog. Everyone was walking around wearing masks over the nose and mouth. We should do that. SO what if our children die early of horrible diseases, it's worth it for the oil. Isn't it?
every one in america should hate oil..you should also...i hate oil...but what i don't hate is natural gas..know why...we have plenty of it...a hundred years of it...more than enough of it...and Obama keeps telling you the same thing...but he can't make the replublicant controlled congress DO ANYTHING about it... complain to congress not the president...
@moron – Specifically, what did Obama do / not do to cause the increase in gas prices?
Your name is appropriate – typical Republican who completely denies history.
When gas was more than $4 a gallon during the Dubya term he said it was dependent on the international market. Now that they are rising again its all Obama's fault. If the President listened to your right wingnut Republican candidates he would be getting ready to bomb Iran and oil prices could go up even higher.
I know these facts will never convince you, youMoron, but you can't have it both ways.
moronyou. I'm sorry, but I can't help but laugh at the ignorance you espouse. You and some folks like you have been programmed to do as much as you possibly can for the wealthy oil-and-other barons. I know you don't realize it, but that's the beauty of if. You are not speaking on your own behalf or that of a nation, but rich folks that tweeked up up with rhetoric and you can't help yourself. You are licking the oil off of the Kochs-and-kinds shoes and looking up to them for approval.
Touching on one point...oil companies have continued to post record earnings in the billions. They pay little or no taxes. Why in the world are we paying them subsidies at all??? Really, it's just the convoluted reasoning of the right that says someone with money should get more money and someone with no resources should starve.
You need to do a little research, and so does Zakaria. At least 15% of the current crude price is driven by the fear that mid-East oil supplies will be disrupted. If we in the US pursued production of our own resources that fear would not be significantly reduced. Rumors of a small release from the Strategic Petroleum Reserve this wek immediately sent crude prices down a couple of dollars. Imagine if we added a US production couple of million barrels a DAY. The impact on crude prices would be huge. Zakaria is so firmly in bed with Obama that his objectivity has evaporated,
http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DUzEnKdBAb_o&h=dAQFXt9RZAQGwbzZQ0h0MISmAJ7CgbmQxQ5B0hXs0hIy_Dg&enc=AZPBdqgpfR1ew_T0mgJbBJ5hCobNg3lFj5CsD59UfkXxq0cGW2zPD5CewRrx45pIRknGySaxEr3SPmk5WzqwATC1xLPNdfR6TBjwijsY0PMqug
Listen real carefully. If people don't like gas prices, stop using your damn vehicles.
Thats because the people playing the oil market are hugely leveraged and the smallest move can loose them millions of millions.
If we raised margin requirements or did not let just anyone play in the oil futures market then prices would come down as well.
Traders force prices which ever way they want knowing that in the end producers have to buy the oil.
We are at war. Would this not be profiteering
To think that addional drilling here will lessen the speculation impact or disruption caused by the Iran concern is total fallacy and stupidity. Where were you in economics class, bozo?
YOu can explain all that you want and you'd still be wrong. Oil is a world-wide commodity. It doesn't matter where it's produced,, the price is set on a world-wide scale. THe oil companies and GOP are in bed together. OVer time, oil prices must increase since the supply is going down and worldwide usage is going up. THe oil companies have been filling the airwaves with propaganda. Drilling will help the oil companies to make more money. It will not lower the price. THe oil companies do not like Obama since he's only for the USA and not Big Oil. That's treason in GOP circles.
Fathead Zak-KNOWS the truth but U R correct-he is in bed and a desciple of Obamy-his job at the moment is to convince the ignorant or confused with his version of the lie!
I think you ALL have it wrong.
Oil is an international commodity that is traded in $US. BUT BUT, the 'value' of the $US is tied in to the value of GOLD ... and gold price vs. $US has DOUBLED since Obama took office.
Therefore the price of gasoline/oil vs. GOLD has not risen; rather, the 'value' of the $US has decreased by ~50% since 2008. That, primarily, is whats driving the fundamental price to USA consumers ... the 'sinking' value of the $US.
Perhaps you weren't listening, but increasing US production by a few million barrels a day (that's a ~33% increase in US production) would not significantly change world supply (90 million/day). This part of your argument ignores basic economic principles. Where there may be some flexibility is by addressing oil speculation...which the Dodd Frank act actually does by stipulating that the purchaser of the oil future take delivery of ~30% of the oil Of course, Wall Street is fighting it tooth and nail!
I think the best thing that could happen to this country is 10 per gallon gas. No more SUV, no more"my country is at war, but I'm not" spending. No more American money sent to people who hate us. And if the price of these inconveniences is too high, guess what? someone here is going to find a better solution and that will be the end of Arab oil. If they don't have an oil industry we don't have an interest in their politics and they can join the modern world or become another Darfur for all I care. .
This is the best post of the entire page..thanks
Folks, the issue today, as Zakariarightly points out, is not available oil on the market,
which today is at record levels, but rather our ability to refine the oil to gas we do not have enough
Capacity. Secondly refinerners claim to be losing money on refining oil to gas, and more and more a
re shutting down or switching off to other products. This is probably the key bottleneck driver
that is driving up the price of gas. These politicians, like Newt are just playing on the stupidity
Of their base.
There is is plenty of refining capacity can't recall the source but I thought we were exporting refinery products.
World is awash in oil. We are having our pockets picked plain and simple. Americans won't conserve. Every time I mention conservation I here " oh I'm different I cant conserve there no way I can use less oil I just can't'. Or how about I won't. Bumper to bumper freeway parking lots with tens of thousands of cars with one person in them going no where with the motors running.. Some folks can't conserve, a few folks are conserving, but most won't free themselves form the luxury of personal transportation. Its a free country use as much as you want but shut up about prices.
Obama is doing nothing to moderate gasoline prices. Rejecting the Keystone pipeline, pandering to Israel to keep the U.S. stuck in the Middle East when they could be out of there in 10 years. The oil embargoes and wars there all adding the real cost of Middle East oil for Americans. Constant rejection of exploration for new domestic sources of energy. Obama IS a major problem when it comes to the price of oil and gas.
The president sets the tone and his message is clearly anti-oil. That has to have an impact on pricing trends because commodity buyers worldwide know this white house won't support new oil development.
Presidents impact future pricing trends by their policies and the tone it sets. Tbhis White House is clearly opposed to new oil development. If I were a commodity buyer that would certainly effect my expectation on oil pricing trends. A second term, lame duck Obama administration will be a nightmare for oil pricing.
Obama has only put up road blocks, extorted, and punished the oil industry. Simple clear facts.
More Faux quotations. Untrue.
Fareed sounds like Obamas press secretary. Talk about a poor command of the facts. If Obama even hinted that he would authorize drilling in the US, the speculators would back off and prices would go down. His lack of a strong policy with Iran allows that uncertainty to continue.
This isn't the south side of Chicago and it's much harder to organize it.
Raymon needs to do a LOT more research. Moore was 100% right, as I lived during the time he talks about. Gasoline prices COLLAPSED from 1980 to 1986. I remember paying less than HALF the price in 1986 for gasoline to what I was paying in 1980..... and in 1980, you had to gamble on when the gas station would even have gas to sell you due to shortages. Zakaria is a mindless idiot to think that gasoline prices dropped during Reagan's term because of recession. Gas prices dropped during the 1982-1986 economic BOOM, when GDP was growing 7-8% per year (7 times the rate it is now), and even during those economic boom years, gasoline prices dropped in half. Trying to deny those FACTS and claim otherwise just proves that Raymon and Zakaria are mindless idiots that are either too stupid to know the facts.... or simply liars.
Prices went down because there was internal strife in OPEC and they started producing more. If you want to credit Reagans policies for bringing the price of oil down, you then have to credit Bush's policies with bringing the price to over $4 a gallon during his term. You can't have it both ways. Then you have the clown-car of GOP presidential hopefuls clamoring for war with Iran. How does that help prices? Hint: It doesn't, but I don't see you complaining about that.
The US may have been booming but oil is a world wide commodity. Other nations' economies were collapsing, the British were just getting back on their feet and Mexico's economy took a nose dive. Just because our economy was booming, doesn't mean everyone else's was
Fact 1: The average crude oil price quadrupled from $23.00/barrel in 2001 when George W. Bush became President to $91.48 in 2008 when he left.
Fact 2: The average crude oil price dropped only 20%, not 50% as Stephen Moore claims, from $35.75/barrel in 1981 when Ronald Reagan became President to $28.75 at the end of his first term in 1984. During his second term the price dropped 50% to $14.87 in 1988. However, I believe that was due to swing-producer Saudi Arabia's dramatic increase in production in reaction to major and persistent cheating on quotas by fellow OPEC members.
Doesn't anybody understand that the high prices of gas are mostly due to speculation on the market. If Obama and his gang would allow drilling and open up the pipline, prices would fall dramatically. Instead, we listen to the verbage and go nowhere and the prices keep going up. Wake up America
jack, united states senator barrak obama blamed it on bush
Here is a link to a 2009 CBS post stating that Obama blames the previous administration for high gas prices. However, it also says that Obama chided the previous administration for not raising fuel standards, rather than chiding them for not raising production.
http://www.cbsnews.com/2100-250_162-4045969.html
ONe has to look at drivers. Stephen Moore is concerned about making money, and making it now. His priority is to make money, not to steward the United States. What he says is correct if your only goal is short-term profit. THe president right considers our future and the impact of current policies. Oil is what is currently keeping the rich rolling in money. Of course they will do anything to support it. They don't care about the environment since they can live anywhere. As long as this country is dependent on oil, we will be slaves to the industry and their minions, the GOP.
Anyone who believes a word out of Fareed's mouth is an absolute moron.
Fareed is a moron. Dear James, first off; time to get civil. A moron he is not. You can disagree vehemently but say why.
Second the almighty American President be it Bush, Obama or whoever cannot fix gas prices. The global economy and supply and demand fix the price just as Republicans free market economy theories and policy dictate.
European prices is a myth promulgated by hopeful Political presidential candidates.Why?
1) European Vat is 17% US equivalents much less
2) Gasoline taxes are huge c/f US
3) Europe has carbon taxes US does not.
Fareed is right Republicans are pandering to peoples fears without a shred of data to justify the fear, and more to the point the real oil experts and economists without exception say even drill baby drill does not
a) Reduce prices now.
b) And when it comes on stream a 1% to max 7% reductiion on $4 might occur.
We should all go buy eco vehicles cut our car gas consumption in half, and insulate houses, use double glazing, and use Gas as opposed to gasloline/Kerosene for heating. And find alternatives to oil fired electricity generating plants.
Sounds like Obama' energy plan but opposed by Republicans ... wonder why.
Regards,
Hodgson.
Stephen Moore said it himself: "I'm no expert". No kidding. He has been around Washington for 20 years. I've been watching Washington for 45 years and no president can control the price of oil, especially now that it is traded on the commodities exchange. That is a real disaster and should be eliminated.
I don't think anyone here, a blogger like Raymon, or myself, is in any position to cast dispersions at Stephen Moore. Graduating in Economics, serving on the US Congress Joint Economic Committe, and founding an econmic group with Art Laffer and Mallory Factor. Fareed Zakaria graduated in Political Science, and is best know for American and Foreign policy. You may not agree with him Raymon, but you need to respect economic experts that you don't politically agree with.
"Political Science" is an oxymoron!
A small move to lower costs can be amplied, just like a worries about increases cause in increases, especially when part of the price is speculation on wall street.
Peacemaker
If we, the U.S. are bringing up more oil than we have ever produced, then why aren't we refining it here and using it here in this country? The world market price would have to drop since the demand from this country would no longer be a factor in the supply and demand formula. This smacks of oil monopoly manipulation and the downplay by these so called experts tends to make me believe they are being told what to say lest they spoil the good thing they have going. I don't give a fat rat's @$$ about china or anyone else, let them use their own supplies instead of draining supplies in the rest of the world.
That's kinda what I was wondering....Why are we exporting oil, when we are paying through the nose to import it? Why aren't we just keeping what we produce? Cost of processing, distributing + a reasonable profit has to be cheaper than whatever it is the MidEast is charging us.
And I apologize if I sound stupid, but world economics isn't my forte.
So does Fareed. The US is a net exporter of refined petroleum products, not oil. Fareed needs to do more research, as he does for much of his writings.
The objective of increasing domestic drilling is all about increasing oil company profits. It's naive to think the oil industry cares about lowering prices here in the U.S. They will sell their oil to the highest bidder. It's also plausible that oil companies could manipulate prices upward during this election year to create panic over prices and influence the outcome in favor of a candidate friendly to their agenda.
Here we go again! Zakaria, the third world's greatest reporter, protecting his liberal buddies once again. Hey Zak! Wasn't it you just a few years ago blaming Bush for the same thing you're now saying the Pres has no control over. Hmmm... I don't believe liberal bias exists in the media today...YEAH RIGHT!
Please please please CNN stop this Obama flag waving! Give us the news; not Obama Cheerleading!
Ha! I read the interview without reading the intro first – I thought Moore WAS representing the oil industry!
It could be oil idustry be manuplating gas prices for political purpose.
There goes "Fareed the parrot" again. Just a liberal voice box, no objective views. Anyone can put their picture up and call themselves a news person here. If you are dumb and a follower, Zakaria is your man. What a joke.
CNN's other news personalities actually have real views, real thoughts. Although still to the "left", at least some objectivity.
Fareed, you should be embarrassed. The only thing that keeps your feathers fluffed are a bunch of reader followers who have a low intelligence level.
Well, that is the definition of most liberals- handouts please, gimme gimme what YOU have earned...
I like this side of Fareed. He can be a shark, but he listens and learns first.
I can't trust Fareed ever since he became one of Obamas advisors.
Again anything OUR president does will never be acceptable to you or your koolaid drinking party followers. The oil companies have been raping us for years and DO NOT want Obama back in because he will push for ending tax subsidies for them. We need to do that and end the tax subsidies on the " for profit" churches that YOUR party loves to pander too !
did you before?
He is smarter than the entire fox/forbes/republican world put together.
He thoughtful and extremely intelligent unlike Steve Moore who really is not smart but a mouth piece like the others. The truth and facts are a terrible thing to him.
@Tom: I applaud you for your arrogance (not just ignorance).
Fareed is a tool, nothing more, nothing less.
He's a clueless hack of a tool.
Thanks for contributing so much to the discussion.
I can't trust Fareed ever since he became one of Obamas advisors because i hate Obama.
I think you mistakenly got to the wrong page, here's the correct link: http://www.disneychannel.com
If Zakaria "learns fist" then why did he say the exact OPPOSITE of what really happened in the 1980s? He is either too stupid to learn the facts before revealing his ignorance, or he's just a liar. Just like you.
You are the one that has it wrong. Calling people "liars" when they disagree with your opinion just makes you sound immature.
I never said "learns fist". I said "learns first". Check yourself, BEFORE you wreck yourself.
"jal": You are exactly one of the flock of those lambs which I have so eloquently described above.
Typical right winger who doesn't want to listen to the facts that counter his argument.
1. US oil production is way up in spite of what Obama may or may not want.
2. That oil is being exported. It doesnt belong the the people of the US. Oil companies sell it on the world market to the highest bidder, they dont sell it cheaply to Americans out of the kindness of their hearts or from some sense of patriotism.
3. The additional oil output from ALL US sources aren't going to make a huge difference in the price on the world market.
4. He's lying about the US having more oil reserves than Saudi Arabia. Thats the most optimistic pie in the sky estimate if you include ALL potential sources including dirty tar sand oil, shale oil and oil thats not even recoverable. To get cheap oil to market it hast to be easily recoverable. What he's talking about it not.
5. Israel is rattling the cages for war. Want to blame someone for high oil prices? Start with Netanyahu. The oil speculators are making a killing off this global uncertainty over war.
Fareed is right. The sort of arguments Moore is making are just pandering to the portion of the electorate that doesn't know how markets work or how the energy industry works.
What flavor is your cool-aide? Funny thing is, your kneeling down at the feet of Obama doesn't let you off the hook of gas prices. DId you not notice how his Energy Secretary went on record stating "I wanted us to have the same gas prices as Europe." Barack is about as in-touch as a Martian. If the teleprompter says it – he says it.
Well said John V.
Right on.
I get it. Oppose Obama at all costs then deride those who disagree. Yikes.
Really ? When did he say that and in what context ? You guys always pull stements out of context just like your brother "Beerbottom" that just past away !
We should pay more at the pump and americans should drive less and learn how to conserve. Maybe walk and be less fat.
No did not notice that... Please provide a link to the statement...
Who brewed the con moonshine you're drinking?
Typical right winger who doesn't want to listen to the facts that counter his argument.
{typical goose stepping liberal. Wouldn't know a fact if it bit them}
1. US oil production is way up in spite of what Obama may or may not want.
{Oil production IS up. BUT only on private lands where obama can't stop it. It's down 40% on public lands.}
2. That oil is being exported. It doesnt belong the the people of the US. Oil companies sell it on the world market to the highest bidder, they dont sell it cheaply to Americans out of the kindness of their hearts or from some sense of patriotism.
{ Oil from PUBLIC lands DOES belong to the American people. Oil Companies only LEASE the land.}
3. The additional oil output from ALL US sources aren't going to make a huge difference in the price on the world market.
{It's not oil dummy, it's gasoline. With the dozens of blends the oil companies are forced to make.}
4. He's lying about the US having more oil reserves than Saudi Arabia. Thats the most optimistic pie in the sky estimate if you include ALL potential sources including dirty tar sand oil, shale oil and oil thats not even recoverable. To get cheap oil to market it hast to be easily recoverable. What he's talking about it not.
{Engineer buddies of mine in the oil industry tell me they were ordered by the Feds to stop releasing news of new finds.}
5. Israel is rattling the cages for war. Want to blame someone for high oil prices? Start with Netanyahu. The oil speculators are making a killing off this global uncertainty over war.
{ Just because some arab farts is no reason to jack prices up. Investigate the traders and speculators for price gouging. Tha's what Bush did in 2007 and prices suddenly dropped to $1.86. obama stopped the investigation and prices went back up.}
Fareed is right. The sort of arguments Moore is making are just pandering to the portion of the electorate that doesn't know how markets work or how the energy industry works.
{He's wrong and nothing more than another goose stepping obama marxist liberal, just like you}
Well said! I have oil buddies too. This whole price increase can be tied to commodity brokers and Wall Street. It just amazes me how naive Americans are. They can not see the forest for trees.
Typical right winger who doesn't want to listen to the facts that counter his argument.
{typical goose stepping liberal. Wouldn't know a fact if it bit them}
[ typical comments that show the poster didn't understand the article]
1. US oil production is way up in spite of what Obama may or may not want.
{Oil production IS up. BUT only on private lands where obama can't stop it. It's down 40% on public lands.}
[ but is IS up, it doesn't matter where it comes from. The price of oil is still going up]
2. That oil is being exported. It doesnt belong the the people of the US. Oil companies sell it on the world market to the highest bidder, they dont sell it cheaply to Americans out of the kindness of their hearts or from some sense of patriotism.
{ Oil from PUBLIC lands DOES belong to the American people. Oil Companies only LEASE the land.}
[Huh? That's a new one. The oil that comes from leased land goes right into the market and is sold by the company leasing the land. The government does NOT own the oil in any way shape or form. Why would a company lease land to drill for the government?]
3. The additional oil output from ALL US sources aren't going to make a huge difference in the price on the world market.
{It's not oil dummy, it's gasoline. With the dozens of blends the oil companies are forced to make.}
[Personally I think it has to do with almond prices myself. Of course it has to do with the price of oil. It's the single largest determinant of gas prices. Blending olny adds a small cost and a lot of that is because the gas companies want to put in additives to sell their product]
4. He's lying about the US having more oil reserves than Saudi Arabia. Thats the most optimistic pie in the sky estimate if you include ALL potential sources including dirty tar sand oil, shale oil and oil thats not even recoverable. To get cheap oil to market it hast to be easily recoverable. What he's talking about it not.
{Engineer buddies of mine in the oil industry tell me they were ordered by the Feds to stop releasing news of new finds.}
[ you need thicker tin foil for your hat]
5. Israel is rattling the cages for war. Want to blame someone for high oil prices? Start with Netanyahu. The oil speculators are making a killing off this global uncertainty over war.
{ Just because some arab farts is no reason to jack prices up. Investigate the traders and speculators for price gouging. Tha's what Bush did in 2007 and prices suddenly dropped to $1.86. Obama stopped the investigation and prices went back up.}
[It dropped between 6/2008 and 1/2009 due to the recession along with everything else. Now, if you're arguing Bush was a major cause of the recession I'll have to go along with you. BTW Obama and the Dems are calling for investigations too and so far it keeps going up.]
Fareed is right. The sort of arguments Moore is making are just pandering to the portion of the electorate that doesn't know how markets work or how the energy industry works.
{He's wrong and nothing more than another goose stepping obama marxist liberal, just like you}
[ He's wrong and I'm going to stamp my little feet and hold my breath until I turn blue unless everyone agrees with my silly opinions]
Obamas friends George and Warren, make no doubt that he is in first name basis with them, are getting richer by the day while Obama prevents drilling and exploration.
Well said Jim...
Yep, and my canary told me the opposite 
...
As a general rule, you can usually stop reading when they are starting to say: "A blabla buddy of mine said, they heard blabla"...
The main problem is that Obama – KNOWING what he was taking on when Bush left – DOUBLED the national deficit with irresponsible spending; UNDERMINED the confidence of the American people in their economy; and FAILED to create jobs.
Gas prices wouldn't be a problem if Americans could afford to buy it! THAT'S Obama's fault – NOT the gas price.
Obama did not double the national deficit. The first year he was in office the spending that took place was from 2008. That is how budgets work.
Ask yourself this, how did a Republican controlled House, Senate and White House turn a surplus into a deficit in the matter of one year? Simple, cut revenue (taxes) and increase spending (unpaid wars, Medicare Prescription D). A Republican congress and a Democratic President were able to create a surplus by: 1) increasing revenue by raising taxes and 2) cutting spending.
We didn't go from a surplus to a deficit just by spending more so why should we only cut spending to reduce the deficit?
Two straight years of job growth=no jobs? Perhaps a more appropriate name should be "TellItLikeFoxNewsdoes". How many jobs has the republican machine created the last few years? How many jobs bills? Oh, they're too busy with contraception and Roe v. Wade.
@Mike. Two questions:
1) When did Republicans last control both houses and the WH?
2) When was the last budget passed?
So did Roosevelt in response to the depression....
http://en.wikipedia.org/wiki/File:US_Federal_Debt.png
Listening to Rush again Huh ?
Mike dude, take something ad read some short term history. Obams and the Dem congress passed billed that doubled the debt. Bush was long gone.
OIL PRODUCTION may be up – OIL REFINEMENT IS DOWN because obozo won't allow for the permitting. You have to refine it to be able to use it. You also have to be able to distribute it (pipelines) to be able to efficiently use it. That said – price setting on commodities – oil or otherwise – is largley a reflection of CONFIDENCE – and what the price is saying now is there is no confidence in this president's handling of the gulf issues.
The US has become a net exporter of gasoline. How much more oil do we need to refine?
I'm thinking your a "Glass is Half-Empty kind of guy"
The president sets the tone and Obama's obvious opposition to new oil development impacts pricing trends.
Funny thing is, your kneeling down at the feet of Obama ...........
Typical republican response.
Morre is pandering to the market and politics that keep money in his pocket. His whould world revolves around oil. THe GOP starts with the presumption that oil must be preserved at any cost since their re-elections and funding all come from big-oil' I remeber reading about the early 1900's when electricity was replacing natural gas as a source of lighting. THe gas companies pulled the same dirty tricks that the Oil companies use now. IT's in the oil companies interest, and only their interest, to drill and sell as much as possible before it's all gone.
gas should be at least $5.00 a gallon and then maybe you guys will wake up and demand we convert to natural gas which we have plenty of...and get off dependence from the arabs, russia and canada,,,
stephen brought talking points, Fareed brought facts and logic. That was an embarrassment.
Fareed, don't worry we know who you want to win in Nov. , And don't worry my vote will cancell Fareeds out.
...and my vote will cancel yours.
Obama 2012.
Theres one more.
Ken has his head up Zakaria ass so far that he doesn't realize that Zakaria lied on several points. Check the facts for yourself (once you extract your head) by going to the Economic Research Database at the Federal Reserve Bank of St Louis. Google it. You'll learn the facts refute that idiot Zakaria.... and YOU too.
Thie is party politcs it can be 2021 or 2012 its still goignt o be BUSH's Fault then and now.. how typical scape goa tof an answer. Blame the GOP and tell the world the Dems are the saviors when they did nothing from 2006-2011 when they ran congrass
Yep! They did nothing from 2006 – 2011 and they're still not only doing nothing, they've made it 20 times worse!
The Democrats didn't pass ONE single Republican Bill from 2006 – 2010 [AND Harry Reid kept ELEVEN on his desk that never saw daylight!] and why?--Because they know they're incapable of running the country but they try to say the Republicans have done NOTHING and bSTILL blame Bush for their own failure!?
The wonder of it is – the Democrat supporters don't have the wit to understand that. I love most of the American people but pity you from my heart for the mindless ones you have.
If only I could use the same 'facts' as you. Your blind devotion to the ignorance astounds me.
Can you repeat that in English ?
This is as much Obama's fault as it was Bush's fault in 2008 with the last oil price peak. If you blamed Bush, then you are a hypocrite if you dismiss Obama's stake in this mess. A lot of anecdotal evidence (subsidies for green energy, EPA's clean air polices) show that Obama wants to increase the price of classic sources of energy while pushing new ventures that his friends have large stakes in (Al Gore).
I'm more inclined to blame Bush than Obama, but that's only because he and top advisors and officers are so closely connected to the energy industry.
Well you are "revolting" thats for sure peasant ! Bush is gone, Obama has two industrial heavy weights in Soros and Buffet that have far more influence in world prices that Bush and Cheney ever did. Wake up and smell whats cooking. Its freedom.
No one blamed Bush for gas prices directly, just for the war and the promise of Iraqi oil coming our way cheaply for our involvement.
In December, we exported more refined fuel than we kept in the U.S. Had their been a tarrif on it, more would have stayed here. Would prices be lower? maybe by pennies, because it still would have paid for them to either sell it higher in internaitonal makets or to cut production. Drilling will only make oil companies rich, it will not guarantee us lower fuel costs unless we nationlize the oil companies. Something we should consider, but would be highly unlikely.
I think you contradicted yourself when you say it's a peak and then say it's because of EPA and green house subsidies. EPA and the subsidies have been there for long time so how come the gas prices peaked all of a sudden. I'm not sure if you know Free Market economics and how prices of oil are set. They're not set by governments so you can blame the President for it. Supply and demand laws are the key here. The major threat to oil now is the instability in the Middle East which is at its peak coupled with the fact that many people in China decided to drive a car. So the Oil that the U.S. might increase in production (which is already happening compared to previous administrations) is going to be a drop in the ocean compared the gas price here in the U.S. One last note, the anecdotal provided is not going to bring the prices down, but rather make the oil companies make more money; the same companies that Cheney's and Bush's have large investments in.
excepts the wars that bush pushed so hard for were a big part of the reason why gas prices were so high because our government was using way more gas, diesel, and oil. Between he and Chaney they did make a fortune on the higher prices due to market shares int he industry.....
Obama blamed the republicans for high gas prices when he was campaigning. This is what I hate most about the candidates. All the hypocrisy of them all.
War in Iraq.....enough said. Really the prices in 2008 were the catalyst for the prices today. Market fat cats and speculators discovered that they could gouge the Heck out of consumers with careful planning.....which makes it legal technically. Gotta love capitalism...
Tone down the war talk with Iran and oil prices go down.
Obama, let sanctions work.
Romney, war.
Gingrich, war.
Santorum, war.
Paul, I need a nap.
Its been said the the US has natural gas reserves 3 times that of Saudi Arabias oil reserves.Why arent we switching over to natural gas to power our cars??? Because big oil companies wont have it.
The oil companys may want to get all they can before we switch to natgas. After all gasoline is of no use for anything else but a gasoline driven engine.
It is good at removing tough stains.
Partially because of big oil. also you don't just switch your primary energy overnight. Some places in Kentucky are still using coal burning stoves to warm their houses....
From what I understand we have tons of natural gas, but it will run down enough that the prices will be just as expensive(or more) in the next few years if we exploit it hard. Then we would be in the same spot.
natural gas would be terribly inefficient, if only because you'd have to refuel many times more. Energy per unit of volume is much lower for a gas than for a liquid. They are researching particles that can make the gas stick to them, manipulating it to get more gas in each tank. Point being, we have to figure out how to do it
Mr Zakaria, may I ask you and this comment board a question? Why is it politically proper and acceptable to blame Bush for high oil prices but not Obama? I am smart enough to see that no president has control over the oil prices. However, in this articles headline it is clear that the Republicans are pandering on gas prices. As much as I was displeased with Bush, I never jumped on the bandwagon or allow myself to have a pack mentality and attack him for things he did not have control over. Mr Zakaria, your articles are perfectly fit to be posted in a commentary column but many times your stories get posted as news. That saddens me as you are not able to report on anything without allowing your personal thoughts and religious beliefs oozing out of it. Please sir, refer to your self as a commentator, not a reporter.
People need to remember the war on Iraq which is why prices were so high then. Now they are high because of the reasons mentioned in the article above except speculation makes a bigger portion of price hikes then either view point suggest.
*** Why is it politically proper and acceptable to blame Bush for high oil prices but not Obama?
He didnt you freaking moron, cant you read ??
What is wrong with you Republicans ?
Stephen Moore was right on, Obama could do a lot more to bring gas prices down but he likes green energy and would prefer for gas prices to go even higher so he can continue to push for more green energy. Obama is the second worse president we have had in our history with Jimmy Carter still being the worse. Our country will never fully recover from his 4 years in office.
That's like saying to went to drug rehab to get off heroin, and you're calling the doctors and nurses evil nazis...
The first thing they tell you in rehab is that 90 % of you will fail and be back here again.
*** Obama could do a lot more to bring gas prices down ....
Yup, just wave that Harry Potter wand.
- brought country closer to universal health care than it has been in 100 years
- actually accomplished a mission – killed bin Laden
- Dow has doubled
- Illegal to discriminate against women on salaries
- Got us out of the misadventure in Iraq
Yes, please may I have more worst presidents ever. Pleeeeeeeeeeease!
I love the open discussion on an issue that is usually oversimplified. I just wish that this news outlet would have exhibited the same behaviour 4 years ago when record gas prices were attributed to Bush, Cheney and their "oil cronies".
It just proves whats been taught in our great liberal colleges is nothing more than indoctrination.
Thanks.
I will take the liberal college over the Republican kool aid.
Democrats blame Bush for high gas prices
Posted 4/22/2006 11:06 AM ET E-mail | Print |
WASHINGTON (AP) — Consumer gasoline prices continue to soar as the Bush administration places too much emphasis on drilling reserves and not enough on alternative fuels, Democrats said Saturday.
In his party's weekly radio address, Sen. Bill Nelson of Florida noted that Brazil has announced it will achieve energy independence this year, something the United States has sought since the country's first oil crisis in the 1970s.
"In Brazil, drivers are filling up their cars with ethanol instead of gasoline," Nelson said. "And today in America, President Bush says, 'We have a serious problem. America is addicted to oil.'"
Nelson said Bush acknowledges the problem but refuses to enact policies to address the issue.
"The administration's emphasis is on drilling, a strategy many experts say won't make a dent in the U.S. oil problem," he said.
Nelson noted how the United States has just 3% of the world's oil reserves yet consumes 25% of oil production.
"We cannot drill our way out of this problem," he said.
The first-term Democrat said the Republican administration must stop being influenced by the powerful oil industry and start promoting production of synthetic fuel from coal and the use of alternative sources such as ethanol.
"We have the technology to raise the mileage standard for all passenger vehicles to at least 40 miles per gallon. The president has urged only a modest 2 miles-per-gallon increase for light trucks," he said.
An oil crisis is looming, Nelson said, with gasoline prices reaching more than $4 a gallon in some parts of the country.
Greater demand and less supply means the slightest disruption "could wreak economic havoc," he said.
"It may be that a terrorist sinks a super tanker in the Strait of Hormuz blocking oil from an oil thirsty world," Nelson said. "It may be a mega-hurricane that goes right up Galveston Bay and shuts down the refineries in Houston."
"Whatever the cause, the crisis is coming."
Copyright 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Your comment indicates that the article beneath it was saying that the Democrats were blaming Bush for high gas prices. I've read through your article and didn't find any Democrat saying Bush was to blame for higher gas prices. I also didn't see any quotes in the article from Democrats saying they could guarantee $2 per gallon gas prices if you implement the energy policies they propose. The Democrats quoted in the article did point out the need for a policy that makes us more energy independent as a country. Are you against that?
Public record states that both bush and Cheney made huge bank from the war on Iraq while bankrupting the country and setting the precedent for the fuel prices we have now.(which is still making them more money)
Only a first rate fantacist would believe and buy into the New "to the Moon" Gingrich $2.85/gal price...Pandering is too nice a word...
more like effin ignorant lol. Newt has always been this. The fact that he is even considered a candidate is a stain on the intelligence of the people of the USA.
clearly that just means ppl who has been behind newt are probably ..... not so smart to put it lightly
An interesting exchange, and I have to agree with Zakaria. The President is not to blame for this. There are much larger and complex factors involved as were mentioned. However, as we have seen with this President, it's so much simpler to "point the finger of blame" at Obama. Americans consume more oil and pay less per gallon of fuel than any other nation on earth, and we've done so for decades. Now the time has come to pay the fiddler. It's President Obama's bad luck to be the guy in charge with a hostile and dysfunctional bunch of malcontent Republicans baying at his heels over anything and everything he does ...
Don't leave us Independents out of that equation.
Please name for us one policy that Obama has implemented that has not increased prices or cost to the American consumer in one form or another. I I don't mean just oil, I mean everything.
A global recession will do that to ya.
- the Lilly Ledbetter fair pay act of 2009
- the Affordable Health Care Act
- the policy of getting us out of Iraq
- the policy of cooperating with other nations (anathema to republicans with their idiotic American Exceptionalism) for example in bringing down Gaddafi for a mere $1 billion dollars (sounds strange, doesn't it, but compare it to the cost of GWBush's misguided and misbegotten invasion of Iraq)
- the policy of fighting Republican attempts to disenfranchise voters by making up bogus fraudulent voting issues and returning us to different variations of the poll tax.
Why don't you digest those, and then I'll be happy to give you more.
Fareed has a short memory. Everyone was blaming Bush when gas hit 4.00 a gallon. So what did he do? He overturned the drilling ban his own Father put in place 20 years before and by the time BHObama came into office gas had fallen to $1.83 a gallon.
Fareed is truly the one who is defending Obama in the vein of political pandering. He's had his back ever since he got into office and is just another Liberal shill for CNN.
Gas prices fell because of the great recession.
You are dead on spot right.
[1] If Bush could lower the price, so can Obama
[2] If Bush was working during the "great recession" and succeeded in lowering the price, so could Obama.
[3] Reps AND Dems wanted the war with Iraq to avenge 9/11. They're BOTH responsible
[4] Bush listened to experts advice on Solyndra and REFUSED them a bailout. Obama ignored the expert advice and threw $535 big ones at Solyndra while he was busy DOUBLING the national debt!
[5] You won't give Bush credit for the drop in price because there was a RECESSION but you excuse Obama's FAILURE because of the same recession???
Of the two men I'd say Bush was far more able. But hey! who can understand Dems logic?
You state:
"If Bush could lower the price, so can Obama"
– Please show me where Bush "lowered the price" of gasoline. That never happened.
You also state:
"If Bush was working during the "great recession" and succeeded in lowering the price, so could Obama."
Actually, if you were paying attention, gas prices dropped noticeably during the past few years due to the drop in economic activity brought about by the economic crisis. It was the law of supply and demand at work – less demand means lower prices.
You state:
"Reps AND Dems wanted the war with Iraq to avenge 9/11. They're BOTH responsible"
In truth, it is still unclear what the motivation for the Iraq incursion actually was, although the Bush administration did try to make it appear that Iraq was in league with the 9/11 conspirators. The fact that both parties voted to approve military action does, de facto, imply responsibility – you're correct in that simple fact, but what are you trying to say – that we should have no government at all?
You state:
"Bush listened to experts advice on Solyndra and REFUSED them a bailout. Obama ignored the expert advice and threw $535 big ones at Solyndra while he was busy DOUBLING the national debt!"
Solyndra never asked for a "bailout". Their tech is good, and actually an improvement over current tech, but what no one expected was the Chinese dumping their cheaper-made, less-efficient products into our market. Solyndra is still the better tech, but it got undercut by crap from China. It failed because it was killed, not because it was a bad idea.
Bush didn't lower the price. I thought we've all already made this point clear: The president doesn't lower or raise gas prices. C'mon, man. You're on the wrong side of facts. Posting more and more of them doesn't false facts doesn't make you any more believable, despite what the repub hopefuls will have you believe.
didn't we go to war with Afghanistan because of 911....and Iraq after due to some WMD's. Separate reasons, two different wars.
Quote from Bush Himself:
Pre-9-11, Saddam was a manageable problem, but not after
For my first eight months in office, my policy focused on tightening the sanctions. Then 9/11 hit, and we had to take a fresh look at every threat in the world.
Saddam didn't just sympathize with terrorists. He had paid the families of Palestinian suicide bombers.
Saddam wasn't just a sworn enemy of America. He had fired at our aircraft, issues a statement praising 9/11, and made an assassination attempt on a former president, my father.
Saddam didn't just threaten his neighbors. He had invaded two of them, Iran in the 1980s and Kuwait in the 1990s.
Saddam didn't just violate international demands. He had defied 16 UN resolutions, dating back to the Gulf War.
Before 9/11, Saddam was a problem America might have been able to manage. Through the lens of the post 9/11 world, my view changed. I had just witnessed the damage inflicted by 19 fanatics armed with box cutters. I could only imagine the destruction possible if an enemy dictator passed his WMD to terrorists.
Source: Decision Points, by Pres. George W. Bush, p.228-229 , Nov 9, 2010
You still on death row ?
George Bush is to blame for high gas prices – that is a fact.
Gas was about $1.30 a gallon for 20 years before Bush took over – then he raised it 219% from $1.29 a gallon to $4.12 by summer 2008.
Then he destroyed the economy and demand tanked, then Obama slowly saved the economy and prices have risen back to the precedent levels set by Bush.
It's very simple.
that is horsesh!t .. when obama ran for office, he stated that when prices where $3.49 a gal, that the bush administration was .... and i quote..." out of touch with reality" ... now prices are higher
...obama saved the economy ? ... what rock do you live under... the man is a liar and a tyrant....PERIOD !!!!!
...and the economy is as bad as it's ever been .... AND WHERE THE HELL ARE THE JOBS ?
Ask the repubs where the jobs are. Remember all their campaigns? It was all about jobs. They haven't done a single thing to create a single job. It's all about birth control and abortion and gay marriage now...Wonder why?
rob c, thank you for your thoughtful opinion.
I find it curious that the anti-Obamanauts tend to swing towards the most extreme language when they describe our president. "Tyrant" – really? A tyrant is "a sovereign or other ruler who uses power oppressively or unjustly." How and in what way has Obama exhibited this behavior? Has he broken any laws? Has he "oppressed" you, or anyone? Can you please explain your extraordinary statement?
The jobs are in North Dakota. drilling for oil. Six figure jobs if anyone dares to get off their lazy butt and do some hard work. Dont expect to find a place to stay as yet, so you might bring you a RV to live in. If people cant stand to actually work with their muscle then dont go. There is a shortage of drilling rigs and the manpower to do the jobs so if you cant get the rigs drilling how the hell you gonna drill any faster. i have been in the oil industry for 41 years and when everyone was going into the tank the oil and insurance companies were making record profits. Obama could do more but the cry baby Gop will use everything they can to stop him from winning again. Just look what the House got accomplished with a Gop majority ....... not a damn thing. And Bush was and is a crook all one needs to do is look at his family history going back to his grandfather.
if you use the graph at http://www.gasbuddy.com/gb_retail_price_chart.aspx?city1=USA you can see that that while crude gas rose in 2008 prices stayed pretty steady....but that would be in the GOP's interest to do it that year since they were facing an election after a very unpopular GOP president. Gas prices in the years following (obama years) still hasn't hit the high we had in june of 2008. I am so confused where the GOP side is getting it's information that makes you believe enough to get that angry.
AND WHERE THE HELL ARE THE JOBS ?
The Republicans keep blocking them.
The economy is saved???? The economy isn't saved and as prices push past $4 a gallon we are going to tank again in the worst way possible. Thank you president Obama for the second most abysmal presidency. I cannot wait until you are gone, and you will be. Too bad the league of Republicans that will replace you are sad choices as well. It would be nice if the Republicans could field a decent candidate.
that would require that there are people of decency supporting the party....
There is no such thing as a decent Republican candidate.
I think Republicans are blaming Obama for high gas prices just as Democrats blamed Bush during his tenure. When prices got high, the Ds alleged that Bush could engineer the prices and was doing so to benefit his big oil friends. While I wouldn't argue that he made policies to assist the industry, Bush couldn't (and Obama can't either) engineer the price of gasoline.
So Obama authorizing the mass exporting of US gasoline overseas while importing more expensive gas to the US has nothing to do with the price of gasoline at the depot level right? Hanging America out out dry is his ultimate goal. He authorized the exporting of gas knowing that consumers would suffer the consequences.
So you think Obama "authorizes" oil to be exported? So with his magic wand he can tell the oil companies to only sell oil in the US? You are ignorant! One of the main points about oil that apparently you and many other people don't understand is there is a world market. Oil is basically sold at one price around the world. Whether the oil is drilled in the US, Venezuela, Saudia Arabia, etc, it is sold at basically the same price. So we could drill 20 million barrels of oil a day, our national average consumption, and our gas would still be high because it would be sold to us at the World Oil Price. The oil companies are in it to make the highest profit possible, they don't have a sense of patriotism to sell it to us at a lower cost than anywhere else in the world.
Exactly. Thank you. STOP THE IGNORANCE.
Hear, hear. There is SUCH a cesspool of ignorance in this country, it is no wonder the Republicans can sway this mass of boobery with lies and more lies. It's awesome and terrifying to behold.
You hit the nail right on the head. Exxon mobile uses only 3-5% of the oil it finds in their refineries and the rest goes on the world market.
Like
Hanging America out out dry is his ultimate goal..........
Why would he do that ?
Oh, sorry i forgot....
Muslim
black
liberal
democrat
socialist
marxist
communist
kenyan
illegal alien
Stop playing with your putter, Harry. The only thing you got correct is Obama is black and he is a Democrat. All the rest is typical right wing Republican hatred nonsense.
I wrote a comment 5 minutes ago. It was about the author's bias in favor of government. It's still not posted.
Are my posts now being filtered, as you would see in communist countries?
Yes, didn`t you know? You have now been placed on the Weight Watchers black book. You are a wanted eater. I suggest you behave accordingly
Thanks for letting me know. I'm afraid that I'm not looking for an accomplice. Would you please show me how to leave the Black Book?
Yes.
If you hear a knock, its the FBI.
Where does this guy gets his figures? The US Dept of the Interior estimates total US reserves at 48.5 billion barrels. By comparison, the same dept estimates Saudi reserves to be 264 billion barrels. Your guest should get his facts straight, but you, Fareed, should have vetted your guest before all the buffalo chips flew. While I realise all candidates sing the song they think the electors want to hear, sometimes some of them sound rather childish.
Instead of wearing a suit and tie why don;t come out of the closet and wear your Obama t-shirt in your show?
CNN has always been pro-Obama. Their bias for certain topics has been evident for several years now. Certain news stories are never reported on CNN even though every other news agency on the planet covers them.
But thank goodness fox news is 'fair and balanced.' Whew!
He can`t. Obama hasn`t paid the advertising fee.
He can't. It's tattooed on his chest. It will be too inappropriate for CNN.
If you are here to bash Obama, go to Fox.
You will find it more to your liking.
You can make some new hateful friends.
The people at fox already dislkie Obama. We are here to explain why you should too. You may be too dense to understand this.
IF I sit on my hands, and refuse to do anything, and then claim nothing is my fault. That does not make me not responsible in any way for the things I allowed to happen, and to continue happening. Essentially that is Islama Bama's position, that he is not to blame for that which he has allowed. This is the alleged president who refused from day one to meet with T. Boone Pickens, and others who had viable plans to free America from our enslavement and dependence on OPEC. He does not get a free pass for NOT PARTICIPATING in realistic solutions. (Such as fully utilizing natural gas to fuel our cars. Natural gas fueled engines have been around for decades, and we have it in abundance.) THIS IS AN ISLAMA BAMA FAIL.
Don't forget he got on national television with one of his cronies to admit he hopes the price of gasoline goes up to over $5 or $6 a gallon. What they forget though is that 99% of American workers travel to work farther than the electric cars will carry them coupled with the fact that 'Green' cars cost more that $30 -$40k. This all during a depression where hundreds of thousands of citizens are out of work.
So, Obama will pick up his magic wand and order all the Car makers to.....
Never mind Moron.
Scot pederson. Your post shows your ignorance. Gas prices didn't drop from $4.00 a gallon to $1.83 because Bush opened drilling. Gas prices dropped because of a global economic recession. Are you that naive to think by opening up drilling gas prices would drop more than 50% in a matter of 3-6 months?
Fact: U.S. oil production right now is higher than it was in 2008. The oil that is extracted in the U.S. is sold in the World Market. That is what is called the Free Market. You make the assumption that all the oil the U.S. produces would be consumed here.
I was beginning to feel lonely. Thanks for an intelligent post. And I was going to ask Scotty to beam me up...
Nice try Mike, but you are talking to a republican.
Waste of time, facts mean NOTHING !!!
There is not an oil company on this planet that is drilling new wells with the hope of dropping the price of oil . There is not a Presidential candidate with a hope of getting elected that could seriously run on a reduce the price of oil policy as big oil , big business and big money only want the price to go up , up , up .
Agreed. Supply and demand still play a huge role. Gas prices fell like a ton of bricks in 2008 due to a huge drop in demand brought on by the economic crisis. Because gas prices were dropping so fast, oil producers started cutting back to stabilize the prices. As demand started growing they would increase production and at the same time increase the price.
Sadly I now see supply and demand as some sort of mythical principal that is no longer relevant at least in the oil industry . It like the politics is all spin . They talk of more efficient vehicles and reducing emissions while at the same time implementing things like diesel emission technology that eliminates most of the worlds efficient diesels from the market while at the same time making North American diesels inefficiently slowly self destruct . Where I live the lots are full of 4×4 gas guzzling pickups going at fire sale prices , big auto wants to conserve ??? No big auto, like big oil , like big oil speculation are one and the same and all want demand and price to go up , up , up . It matters not what political stripe you wear if you don't pander to these guys you will be facing their money and probably be unelectable .
What garbage! rumors, news, and reports are what speculators live on. This guy's given them nothing but reasons to bid higher. From moratoriums to failed investments. It's obvious oil's here for a while, and he's proved it! He's banned it, slowed it, even spoke several times on how he was going to raise it. Quit paying LIARS CNN, your readership drops reflect it!
The government probably pays CNN. It reflects what reporters say about things.
Back in 2008 Zakaria was saying gas prices were Bush's fault unbeliavable how now he flip flops when it's Obama what bias piece of crap. You suck Zakaria
lol, it's indicative of the party.
Of course it's not Obama's fault. He was out campaigning at the time. You can verify that easily.
Don't forget Americans are paying for his campaign. He is not performing his presidential duties. If I did that I would be fired.
It is part of the perks of being President. If you don't like it have Congress change the rules. In fact, think no campaigning by anyone running for national office can start doing so until May 1 of the election year. Then on the first Tuesday in August there will a national primary where all states vote at the same time. The candidate of each party who receives the most votes will be the candidates. No conventions....they are worthless. Also, congress needs to find a way to get rid of Citizens United and ban lobbyists.
Were you complaining when Bush was on vacation? He took three times as many vacation days while in office, and campaigned just as much. Hypocrisy much?
And What president has taken a record number of days vacation. your ex president bush. doing so when our troops were being killed in the middle east. dont forget how he was doing the same when he was running for his secong term. forgive me for saying that because i almost forgot that it is okay for the Gop to do it, but not the demo's.
Unlike Republicans, Democrats know how to multi-task.
The money he is using to campain its called contributions and donations
you know, the same thing the Republicans use.
Do we have to explain everything to you Republicans ?
Try to keep up.
In my opinion, it doesn't matter WHO is in office. The opposite side will ALWAYS use whatever to their political advantage.
It there was a Republican president, the Democrats would jump on this bandwagon in a heartbeat, saying that it is HIS fault that gas prices are so high.
Since the President is a Democrat, the Repbulicians are jumping on the bandwagon to say that it's Mr. Obama's fault for the high gas prices....
Same old politics! Yada yada yada yada!
But Obama went on national TV with a guy he fully endorsed that said he hoped gasoline would go up in price to forward his green agenda. Obama uses every lever he can to squeeze just little bit more to break America.
Would you by any chance be a right wing rat? Both parties stink. To say only one does is a sign of narrow minded opinions which are totally inconsequential.
America is already broken.
He is trying to fix it.
Try to play nice.
Moron.
Obama campaign manual RULE 1: For everything bad: we inheited it. Blame Bush (better yet, blame a current Republican frontrunner.) RULE 2: For everything good, find a way to make it look like Obama did it. Use as example the binLaden killing. RULE 3: Get as many news reporters and political pundits as possible to follow RULE 1 and RULE 2.
Yes, because it was the Bush Administration that brought Bin Ladin to Justice. Oh, and 9/11 also happened on Clinton's watch...How silly of us to forget.
Bush dind`t do squat to Bed Linen, Obama killed him.
9/11/2001... bush was in office.
It has been very difficult to blame a president on high gas prices in the past, but in this case Obama can take total blame…..Everyone saw this coming …Again!!!! Here are the reasons…
Devaluing the Dollar due to massive debt / printing money – Oil is pegged to the Dollar
Not increasing Supply – National/World Supply-–Keystone Pipeline, Offshore, Alaska, etc…
Playing Chicken with Iran causing speculation – They can control 20% of total world oil thru their strait
What clueless bonehead would risk the collapse of the US economy by not developing their national oil resources and while simultaneously strangling another country’s economy with sanctions and military threats (who can control 20% of total world oil)?????????????
Keystone is Canada's oil not ours. Ask them why they don't build the pipeline in their own country. Also, there is no guarantee any of the Keystone oil would be bought by the U.S.
Okay so you argued against one part of one point – what about the other factors???
Uhh what? The pipeline is being built partially in Canada, it's not just sitting in huge lakes adjacent to the US border. Keystone is going through the US into the refinery belt in the gulf coast. The simplicity people use to discuss these issues is ridiculous. On another note, if people want to blame someone for the price of Oil, blame the investment bank speculators.
The massive debt was from the bush years. raising the debt 7 times for and increase of 99%. reagan 17 times for a 199% increase and you right wingers get upset when Obama raises it to help avoid a depression. It seems to me that there is an excess of oil because we are exporting gasoline and diesel and soon LNG. The only thing the Gop is concerned about is why a woman should be able to get her contraceptives paid by her insurance. Its funny how Hannity loved Reagan so much and never mentions how he increased the debt and raised taxes 11 times. oh i almost forgot he works for fox news, the fair and balanced reporting. Duhhh
I am just glad that a republican can or would be able to raise taxes so that we can balance the budget. Obviously... the taxes should be distributed "equally". I have no idea what's avg.ppl take on fair???
it's oil that is very impure you wouldn't want to use anyway that is extremely hard to get to without causing harm to the environment as a whole........plus part of it is already running in force up in the northern states and another part being built from Oklahoma down to the gulf coast. It's just one small section in Nebraska they are working around so that it doesn't contaminate the aquifer under our "bread basket" (you know cows, pigs, wheat, corn.....)
Devaluing the Dollar due to massive debt ...........
Had nothing to do with the eight years before Obama ?
So i guess that on January 2009 when Obama took office....POOF this debt just appeared...WOW !!!!
Not increasing Supply – National/World Supply-–Keystone Pipeline, Offshore, Alaska, etc…......
Keystone pipeline would be Canadian oil shipped to the world market, and Obama has opened up drilling
in the Gulf Of Mexico, but you wont hear that from a republican.
Playing Chicken with Iran causing speculation – They can control 20% of total world oil thru their strait......
George Bush had the Iran problem on his desk for eight years and did......ZERO !
Obama has put sanctions in place, but three of your four candidates running for GOP president
Romney, Santorum and Gingrich are screaming for WAR, while Obama is using calm
and reason to difuse the problem.
What clueless bonehead would risk the collapse of the US economy by not developing their national oil.......
Kennedy
Johnson
Nixon
Carter
Reagan
Bush 1
Clinton
Bush 2
But suddenly, like magic.....Its all OBAMAS fault.
Oil runs this planet.
Cars run on gas.
Republicans run on lies.
If we go to war and knock out Iran oil industry. That would hurt china and Russia supply which would make china and Russia retaliate. Potential for WWIII. Or possibly just destruction of a lot of oil fields. A dirty bomb around that area would make it so unsafe that we would have to really go "green" energy.
oh – yeah/.. and this fareed dude had the exact opposite argument when the price of oil went up under bush... hypocrisy... it is amazing how the liberals practice it so well.
I am not American. But when I first found this Zakaria person on here, I thought it was a campaign ad for the Democrats election campaign, seriously!!
He's got a lot of opinions , but that's ALL they are. NOW I notice he's writing about how EXACTLY to fix the economy???
According to Zakaria – who's really just another bloke on the street – HE should be President! Streuth talk about do as I SAY not as I DO!
Any links or sources showing proof of your claim?
Why is it that we never hear one mention of speculation and it's effect on the price of oil? These "experts" and talking heads list every excuse except one which is oil speculatuion. Oil speculation should be outlawed in this country. Something that is as crucial and important to the health of the United States economy should not be permissible. No one, not even President Obama, or any of these clowns running for the presidency, mention the effects of speculation. Am I the only one who sees this? Anyone? Anyone?
Speculators are not autonomous. They are as crooked as the politicians. Don't think for one moment the two are not related. In fact speculators conspire to drive up the price of oil and have been prosecuted for doing so, but the pockets are so deep they can't be stopped. In fact if you dig deep, you will find a lot of elected officials are tied to the profits of oil related business. Rural Americans suffer while they make back room deals to become more wealthy. I don't trust anyone in office today because their agenda is not focused on America it is seeded in personal greed and power.
Lane, you're probably right. And you fairly point out that politicians from BOTH sides are allegedly involved in this.
It's a pity Dems won't admit THAT fact.
I agree with you but oil is traded globally. If you regulate speculators in the U.S. they could trade on the trade market. It would take a global ban or regulation which might be very difficult to do.
I was not centering on American speculators. The last speculators prosecuted were actually in Britain I believe, but none-the-less they are in the business to make money. Obama authorized the exporting of gasoline from the US while at the same time authorized buying higher priced fuel from overseas.
Let's face it , if we follow the money we will find that the same money behind big oil is behind big oil speculation and the extra 30% to 40% ++ speculators are tagging on the top is just a way to cloak the fact that oil companies are making even more of an obscene killing than most believe . The current system is the realization of a dream and for big oil , collusion ? Do you think so ?
Since BP are one of Obama's main campaign fund contributors, you're not doing him any favors, right..................Oops!
Well TellItLikeItIs , why don't you take you own advice and as your name suggests and tell it like it is . This is not about Obama or even republican versus democrat as the dirty money and enormous clout of big oil is beating both parties and all relevant candidates into submission . This is the 1% and they are going to wring every last cent they can from the 99 .
Ellis from the Jethro Project has long argued that speculation is a critical factor in the rise of crude oil. However, political narratives want the public to believe that it is demand driven. He notes that Leon Hess, whose oil company made over $200 million by trading in crude oil futures during the Persian Gulf crisis said that if the New York Mercantile Exchange (NYMEX) was not in operation there would be ample crude oil at reasonable prices all over the world. In essence, traders would not be able to trade on potential supply disruptions. What we need is a third Party that advocate for the interest of voters and not corporation. See Ellis' article at: http://www.jethroproject.com/Crude%20Prices.pdf
The pyramid with the eye.
The all Seeing Eye.
It is there to remind you of who runs your life, and your planet.
Earth is a corporation.
The United States is just a department of that corporation.
You are allowed just enough to make you happy, to keep you working.
When you are no longer needed, you will be terminated.
We own the resources of your planet.
We own you.
Your job is to produce those resources.
We created your religions and your political parties
to keep you divided, and it works.
Every war on this planet has been carefully planned, for our benefit.
Hate is easily manipulated, and we sell death to both sides.
I only tell you this, because some of you have evolved.
An/unn/aki gave you life.
Find your past or you have no future.
End.
Ellis from the Jethro Project argues that rising gas prices are due to Western sanctions on Iran. Therefore, Obama and Congress are indeed responsible for the rise in crude oil prices. In fact, the increase in prices is the Israeli premium that has been imposed by the Obama administration on world consumers; and the public knows it. Moreover, if the Israeli crude oil premium remains in place Mr. Obama's reelection will be in jeopardy. See http://www.jethroproject.com/tjpHighGasPricesduetoWesternSanctions.htm
Israeli premium that has been imposed by the Obama administration on world consumers; and the public knows it. Moreover, if the Israeli crude oil premium remains ....................
Its not bad enough that they lie about real stuff.
Now they are just making it up.
Desperate freaking Republicans...........
NEWS FLASH – THIS JUST IN.....................
Israel has no oil.
President Obama seen running away from murdering 2 year old girl.
A Republican, who happened to be near by was quoted as saying "he had bitten her head off"
A local policeman was overheard saying....
Yup we followed the trail of blood, and it led right to the door of Rick Santorums party headquarters.
We just dont know what to make of this.
Is this the president's fault, no. Can we do some things to help, yes. The oil & gas drilling happening now are not because of the unfriendly policies from this administration. These permits were granted yrs ago. Opening up more drilling is likely to affect the speculation and at least bring down prices some. The prices are up for multiple reasons but the turmoil in the middle east is #1. So, if there is more oil and natural gas from other places (like US and Canada) then the world relies less on middle eastern oil. We need to tap far more into our natural gas resources, with all the natural gas we have we can be independent from middle eastern oil. Make a north american agreement for oil & gas so we aren't at the mercy of OPEC. We should also limit our own taxes on oil at the pump.
Bush CANCELLED drilling permits allowed by his father in order to lower gas prices, in a world recessio, and it WORKED. He actively reduced oil prices. Good move.
Obama does NOTHING but BLAMES the recession. Bad move.
Bush listened to experts and refused Solyndra a bailout. Saved the country Billions. Good move.
Obama rubbished the experts advice and threw Billions at Solyndra [ which was gone in 4 months!!!] BAD move in a recession!
And you Libs STILL blame Bush? Obama makes Bush look like a political genius.
The global recession of 2008 dropped the price of oil because demand fell like a ton of bricks. Not because of what G.W. did. Are you that naive? so you think if we opened up all this drilling like the Republicans want and the economy keeps growing steadily and the Stock Market stays at 13K that gas prices will drop the $2.00? If so, you are very naive.
*** Bush CANCELLED drilling permits allowed by his father in order to lower gas prices...
How do you "Cancel" drilling permits, and get cheaper gas ??
You Republicans make no freaking........why do i bother......
sad.
It ought to be illegal for Zakaria to blatantly lie on CNN. We are using 19-20 million barrels per day of crude oil in the US. We produce only about 5-6 million. The "oil" we are exporting is actually gasoline and diesel that us is produced from some of the crude oil. Very little of the crude oil is used to the products compared to what we import. Yes Obama is not responsible but Zakaria shouldn't be allowed to lie about our overall energy situation. No wonder Joe Sixpack is confused about our energy situation.
massbytes [long answer] and rob [pshort answer] combined – prove Punisher 2000 wrong anyway!
Fareed is a moron
Such a short answer denotes a limited capacity to effectively reason.
In 2006, the Democrats won control of Congress campaigning on "High Gas Prices Are Bush's Fault....He Did This To Us"
Almost six years later, and Gas Prices are still on the rise...and now the Political Left, and their Lapdog Media Pets are scrambling to come up with excuses so this doesn't get blamed on Their Team. You know what this tells me? Despite which team they play for, Politicians are the exact same creatures.
And it took you how long to find this out?
So should two wrongs make a right? Should we vote in Republicans who are saying the same thing but won't be able to do much either?
Give me the Republicans any day. The Democrats do so little for America you may as well have only one party!
if you will do a little research you can see who has been best for the economy going back as for as the stock market. Do a google search " the economy under us presidents" and look not on a left wing or right wing blogger but for the sources from where the results come from. you might be suprised if you take the time
Try to convince that to a Republican supporter.
Any tool in the tool box that works.
Obama is the president. He told us in 2008 that the buck stops with him. Ok show us.
The bucks stops here in only what he can control. To think that he can control the price of oil is childish. Perhaps you are.
To think that he cannot control the price of oil is also childish.
He has all the same ability to control the price of oil that Bush did 6 years ago....let me guess, you were one of the ones who blamed the 2006 Gas Price Hikes on Bush, weren't you. You can go ahead and deny it, but we both know the truth.
Sit and read up on Economics. You need it bad.
To Atomico. Go read up on Economics, you need it bad.
You mean the 'higher' buck right?
Annie – Good for you. And SO true. But we all know that the buck only stops with REPUBLICAN presidents [according to the Liberals!]
They spout this rubbish about "Poor Obama is not in control! he "inherited all these problems....."" What president didn't?
He took the job – he took the responsibility. If he can't stand the heat he needs to get out of the kitchen.
Bush inherited a balanced budget and a stable economy....Obama inherited ...quickly frankly a frakking nightmare. It's stupid to compare the two...
Republicans keep stealing the bucks.
Farheed was wrong on one point – We are not net exporters of oil, we are net exporters of gasoline right now. Oil companies need to run refineries at near 100% capacity to run efficiently and reduce costs which should keep oil prices down. They expanded the refining base over the past decade in response to increased demand. Then the financial crisis and deep recession hit and demand dropped. Now we still import some gasoline to serve certain markets like the East Coast because there isn't enough refining capacity in this market but other refineries are exceeding demand, especially in the Midwest. We export that extra capacity to Central and South America. Now, if demand has dropped so much, prices should also drop. However because there is demand in other world regions, the oil companies have chosen to export that surplus that should keep our prices low, to other countries. This is the reason gasoline prices are higher now. It is because the oil companies have introduced the Central And South American Markets into the U.S. supply and demand curves. The introduction of exports to these countries has shifted our demand curve and caused prices to rise. The only thing we can do to control gas prices is to pass a law that forbids the oil companies to export gasoline. However, there response would be to start shutting down excess capacity to operate at 100% efficiency at the refineries that do run. There's nothing the President can do, the oil companies are controlling the pump price of gasoline. Another significant portion off this price run is simply the cost of a barrel of oil. Farheed is correct that we are already at high domestic production levels and it hasn't put a dent in the price of oil. Much of this oil that is produced cannot be run in many of our refineries especially the Eastern U.S. refineries which are older and need the more expensive Brent Sweet Crude from the Middle East. Mostly only the Midwest refineries can refine the Canadian Oil Sands Oil, or the oil that is produced in the Midwest. And we do export the cheaper, surplus oil from these regions which contributes to price increases in the Midwest. There's nothing that can be done. The crude oil is a worlwide commodity which is imported and exported on world markets and the oil companies manipulate this import/export ratio to maximize profits and the gasoline surplus is being exported causing the U.S. market to essentially become a Western Hemisphere market which is also contributing to the increase at the pump. This is part of the joys of selling oil and gasoline as commodities in world markets – capitalism in action. Have fun everybody because it's going to be a bumpy ride and none of these candidates can do a thing about it.
Refineries running at 100% efficency would keep gas prices down not oil prices down.
I was pointing out there are two components affecting pump price – world oil markets and now the gasoline market that has developed as a result of increased demand in Central and South America. Any excess refined products such as gasoline that should reduce prices at the pump are being exported now. We are a net exporter of gasoline which is now shifting our demand curves and contributing to the overall increase at the pump.
If you invest in commodities you must invest dollars in the amount of 50% of the value of the commodities. You must take delivery of the commodoties that you invest in. Profits on commodities investing will be taxed at 90%..........Seems to me that someone could do a lot about it.
Oh so you think Republicans will support higher taxes on investors? Even if what you propose would work, if Obama did this, the repulicans would use this against him politically and reverse it as soon as they took office. Nobody supports this kind of taxation.
*** Farheed was wrong on one point – We are not net exporters of oil..........
Wrong, we are.
Simple and easy.
Give all the reasons and examples you want,
we are in fact exporting more oil than we import.
Nice try.
In 2008 the price of oil was $147 a barrel and gas was about $3.80 a gallon. Today oil is about $106 a barrel and gas is selling at about $3.85 a gallon????????????????????????
Obama sure has not done anything to ease the problem either short term or long term. He just does nothing but tour the country and make speeches.
If Romney wins the Presidency (he will be the Republican nominee) and by the 4th year of his term gas prices are as high or higher than now will you admit you are wrong and that high gas prices aren't the President's fault? Now if gas prices drop by a significant amount while Romney was President and we attribute that to a particular bill he signed or something tangible then I will admit you are right.
If any president develops own oil & prices drop, then I would admit that a president can control price of oil.
First there is only 45 billion estimated reserves. Second any action taken will take years to affect prices, besides what we can produce is produced by oil companies, who, normally will sell oil at market prices not at prices a president would demand.
Dean, look at my ealier post. The true reason prices are increasing, over and above the increase contributed from the increase in crude prices is because the conservation efforts of U.S. Citizens that has reduced our own demand, is being profitized by the oil companies and exported to other markets. Any price decreases that would occur due to our conservation are being negated by the oil companies who chose to export gasoline produced by U.S. refineries. The President cannot influence the price of oil or gasoline.
All these candidates are lying in respect to their potential or perceived influence on gasoline prices just as they rattle the sabres in respect to Iran. This is all a political side-show. They won't be able to decrease the cost of gasoline unless they drop the gasoline tax and they won't be bombing Iran anytime soon if they were to become President unless the Israelis drag us into it unwillingly.
Ignorant idiot.
Obama has No control over gas prices.
I will make you a bet.
Even if Obama got gas prices down to $2:50 a gallon,
you would just shift and find something else to blame him for.
You are nothing more than a hammer desperatly looking for a place to hit.
FAIL.
Pathetic Republicans.
Thank gog you will not take back the white house.
Gas was $1.44 when Bush took office in 2001. It spiked up to at least $3.80 by July of 2008...but then Bush and his economic advisors, in their wisdom, enacted the Great Recession in order to drive prices down. Bravo!
Meanwhile, oil companies continue to report record profits, the Republicans (Republic-can'ts?) stymie any serious investment in alternative energy research (handing the future to the Chinese, who are investing significantly in energy innovation even as their oil usage spikes and drives up the global cost), and right wingers repeatedly show their lack of math skills and comprehension of the global oil market and how insignificant any additional US production is vis a vis the cost levers.
You're right about the mistake of enacting a law that led to our recent recession. The mark-to-market accounting caused the recession after enacted by the government. This was a government's blunder coupled by greed of individuals.
How does US respond to this? More government.
When Obama came to office, he wanted more government hold on the financial sector. This will be the greatest mistake in US history that favors free-market economy.
*** free-market economy.
Anything goes.
Complete chaos.
When you have no controls,
those who have more, crush those who have less.
That is not free market, that is war.
Sick.
You can debate this issue all you want but the FACT is that after President Bush signed his executive order opening up drilling in 2008 the price per barrel dropped $9 overnight and $100 in the following months.
Can the President do something to effect the price of oil? Yes, but this president won't and that should be what the debate is about.
Also for those claiming we don't have enough oil to make a dent in the supply are using distorted statics and I encourage you to read this article that explains the truth about how much oil we have in the US.
http://news.investors.com/article/604303/201203141303/oil-abundant-in-the-united-states.htm
Oil prices dropped more than $100 because of the global recession not because of what Bush did. Are you that naive? Go ahead and open up all this drilling. As long as the Stock Market is doing well and the economy is slowly improving you won't see oil prices taking a steep drop.
All this time I thought Carter lost the electione because the GOP promissed a quick end to the Iran hostage crises. Now we find out it was because of the cost of oil. Does that mean if we all vote Republican that the price of gas and oil will come down?
That is what they want you to believe. Amazing to see people in here that think that the main reason oil prices took a huge tumble in 2008 was because President Bush opened up additional drilling and that little thing that happened in September 2008 called a global recession played no part in it.
Jimmy Carter lost because his solution was for everyone to turn their thermostat down to 55 and put on a sweater. Although it is humorous at least that Iran will be a central figure in the downfall of two of Americas worst Presidents.
I put on a sweater, turned my thermostat down, saved some money, and it was nice and cozy.
You seem to have a problem with common sense.
Snuggle up America.
It makes for romance.
The Oil Companies, thanks to the Bush/Cheney Crime Family, can charge whatever they want. The USA gets no products from any unstable nations. Well over 60% of our oil comes from this continent. Their profits are obscene and have been since the crime family took the country. One idiot republican said yesterday that because of Obama, the price of gas doubled under his watch. That means gas was $2.00 a gallon under Bush? Wake up people. Aramco is OPEC, ARAMCO is short for Arab American Company, started by Standard Oil decades ago, which is now EXXON! THAT is why their profits are so high. Obama has nothing to do with it. You are looking at Obama while "THEY" are stealing your hard earned money.
Those same people fail to say that the reason gas was below $2.00 a gallon was because of the economic collapse. Had we not had the economic collapse, gas prices would most likely have been still around $4.00 when he took office. Then again, had we not had the economic collapse, McCain might have won........................
And now all the surplus gasoline which results from American ingenuity in designing more fuel efficient cars and trucks and the slower demand as a result of the economy is being exported to Central and South America to support these increased prices. The oil companies want these higher prices and are manipulating the U.S. gasoline markets by their exports.
Funny how Republicans never do any research about the Bush Family.
Prescot Bush, major financial dealer with Nazi Germany.
George Walker Bush, member of the CIA when John Kennedy was murdered.
George "Dubya" Bush, Probably the only person in history to have control over an oil company that
went bankrupt (Arbusto Energy) and the whole family relationship with.....
Saudi Arabia.
You cant "plead" with a Republican, they are too busy defending the "BRAND".
That "Brand" has be using you, and s/crewing you for years.
Stop voting for people who do not care about you.
P L E A S E !!!!!!!!!!!!!!!!!!!
Repugs like to tell how, if we had started drilling in Alaska 20 years ago, we would be using that oil now. The same works with Clean Energy: If we had started, and stayed with, work on Clean Energy 20 years ago, we wouldn't need oil now.
You mean US would have competed against foreign energy source?
The oil industry, and the auto industry wouldnt like that.
They are tied at the hip.
Profits come first.
Do you stand woth Big Oil or with the American people and a fair & free market? I'm voting for the guy who said this today (hint: it's BO):
"... at a time when big oil companies are making more money than ever before, we’re still giving them $4 billion of your tax dollars in subsidies every year. Your member of Congress should be fighting for you. Not for big financial firms. Not for big oil companies.
"In the next few weeks, I expect Congress to vote on ending these subsidies. And when they do, we’re going to put every single Member of Congress on record: They can either stand up for oil companies, or they can stand up for the American people. They can either place their bets on a fossil fuel from the last century, or they can place their bets on America’s future. So make your voice heard. Send your representative an email. Give them a call. Tell them to stand with you."
like
http://www.whitehouse.gov/the-press-office/2012/03/17/weekly-address-ending-subsidies-big-oil-companies
Amazing – Zakaria has summed up the whole problem in the USA today. NO ACCOUNTABILITY FOR ANYTHING ANYMORE!!! "I don't know, it's not my fault" should be the new national anthem. Its something 5-year old children say when they are about to get into trouble. You were hired by the US citizens to do a job – if you cannot do it then step down or get fired, but its YOUR JOB you ARE ACCOUNTABLE for the policies, both political and economic. THAT INCLUDES GAS & FOOD PRICES AS WELL. The devaluing of the dollar creates inflationary price pressures – what do you expect when the government borrows 40% of the money for every dollar it spends!!! Yes Mr. Zakaria the policies of this President are leading to higher gas prices. Its all about accountability....
we gave bush 2 terms. Obama deserves 2 terms just cuz of that alone. My 2 cents:-)
That is why we should never put another Republican in the White House.
The devaluing of the dollar creates inflationary price pressures....
Thanks to the tea party.
Definitely not Obama's fault-and I'm definitely not an Obama fan. Just like the rise in gas prices 5 years ago was not Bush's fault. People seem to have the need to blame someone, and like a coach or a quarterback, a president is the most prominent person out there. It would be great if people were rational.
I know what you mean. Yet common people must keep government officials in check so that officials work in favor of their citizens' needs. Otherwise, why have a government?
Agreed. It is a vicious cycle. Party A blames party B when party B is in control. Party B blames party A for the same thing when party A is in control.
Just like the Herman's Hermits song Henry VIII. 2nd verse, same as the first. Rinse, spin and repeat.
Its just a shame that party B has an agenda that requires the price of Energy to necessarily skyrocket. Both Obama and his ENergy secretary have said this. They wasnt Carbon credits and their so called green energy vision to be implemented. America made a mistake 3 years ago in electing a man based on his looks and speech paterns. This time policy and ideals will rule the day. Time to get on with your lifes work Mr. Obama.
Agreed John, The problem is when it comes to the discussion of politics the rational part of the brain shuts down and the emotional side lights up. Look it up.
Anyone with intelligence realizes more domestic drilling just lines the oil companies' pockets. It will do NOTHING to lower prices. In the long term, Obama might be able to do a little bit to help prices, but not now. And Newt? lol...$2.50? Hello, Michelle Bachmann's on the phone and she wants her delusions back.
International trade insight: domestic supply meets own demand at a lower price. Surplus is used to compete in world markets.
Think of oil as a mom & pop store: you eat at a discount. Mom and pop sell the surplus at a market value.
Only works that way if oil is nationalised. When oil is in private hands, oil companies sell at market price.
@ Punisher 2000 – I agree that nationalization is important for growing companies. This would be needed to grow US domestic producers. However, a sustained nationalization leads to inefficient practices that raises price for consumers.
Mom and pop dont have a surplus azzhole.
The day we see $2.00 gas again in the U.S. is the day we are in a global depression. I don't want to see that day again.
~snicker~ that was good:)
Luckily all of the FauxNews pundits explained to the American people why the president is NOT responsible for gas prices. Of course, that was back in 2008 when gas prices were spiking under Bush. FauxNews, in their rush to be "fair and balanced" seems to have forgotten all those arguments today. There is a brilliant clip on Media Matters showing all the FauxNews pundits rushing to Bush's defense during the 2008 gas price spikes.
Gotta love Fox News. They forget things you say today can be shown on video tomorrow. Neil Cavuto takes the cake. He was on tape asking the leader of a Tea Party rally how many people were there. The guy said 5,000. Cavuto comes on a few minutes later saying at least 10,000-15,000 people were there.
Mr Zakaria please do not impose your socialist ideology on the USA. Zakaria Please go back to your country. Market manipulation and Obama's double speak contribute more to the non-sense of high prices than Iran. When Iran gets nukes, prices will indeed go high. Real leaders who represent the people could bring oil prices down, balance the deficit, and truly bring peace to the world.
Let's hope that US will never become another Syria.
And the current crop of Republicans will accomplish this? Seriously? Let's cut more taxes and drive the deficit higher. And their defunding ideas will make as big of a dent in the deficit as throwing a pebble at an aircraft carrier.
Spoken like a true troglodyte. School was probably low in your list of priorities.
School makes a lot people lose common sense.
When Iran gets nukes... the middle east will be a boiling pot of contaminated waste. No more religious propaganda. Radiation does. It discriminate
Typo. "Doesn't" discriminate
Fareed buddy, get a real job and stop stooging for the soon to be former President Obama.
The man has done nothing but implement policies that increase costs accross the board. Energy, Health Care, and new taxes.
My toast was burnt this morning. Gol dang Obama
Wah, wah, wah, we can't implement our radical agenda without increasing costs on the American public. Its not fair to call us on it !
Cooling the war rhetoric is something politicians can EASILY do. Oh sure, it might get them labeled soft on defense in an election year, but all it takes to reply is a little explanation:
Saber-rattling on Iran leads to
Iran threatening to retaliate, which leads to
Oil traders worried about constricting oil supplies, which leads to
Higher oil prices, which leads to
Higher gas prices.
So cool it, defense hawks. The rest of us can't afford it.
Agreed. It is easy to talk that talk when you have no responsibility. It is dangerous talk. Americans are tired of war. Hell if McCain was President, we would still be in Iraq and he probably would have us in Egypt, Libya, Syria and Iran.
International supply levels cannot be changed instanteously, but bringinging large new supplies on line will ultimately influence price levels. Fahreed disingenuously repeatedly argues that this will not lower world prices. New major supplies may not lower prices in the future because of huge new demand from the developng world, but unless there are new supplies, oil prices will skyrocket as never before seen. Fahreed twists every argument to defend his candidate-Obama, who has obstructed resource development in the US until at the its going to burn his fanny.
It is called politics. Everyone twists things. Opponents of Obama keep saying gas was $1.80 when he too office. This is true; however they do not say why gas was that low.
The problem is no matter how much we produce we will never produce more supply than the demand because China and India and big oil will not allow prices to drop because they have that power. Having higher supply than demand is the only way to lower prices. Learn basic economics and stop watching Fauxnews.
When we allow the market forces and monopolies to control the essential needs of a nation it's natural they will abuse it, because they can and because market forces or monopolies main reason for existence is to make as much profit as possible. We don't allow the markets forces to defend our nation. But even the part that we allow the arms producing companies to produce weapon systems they clearly abuse it and charge thousands of percents of profits. The essential needs of the nation like energy health care and should have control by the Government. Or it should not be allowed to be monopolized and manipulated by the few in the markets. Either make it simple and let small companies compete. Do not allow just a few giants to control anything.
If I may add, monopolies are market failures. It's the effort of a bully trying to prevent the little guy from playing.
Market forces means a bunch of players in the playing field. Government control is just inviting an opportunity for inefficient practices.
If so, then why did Bush get blamed while he was in office?
War in Iraq and policy contributions to inflation. Also this is a completely different world economically then it was then. We can't artificially poke the economy any more to keep it afloat. Also the prices of 2008 are acting as a Catalyst for which big oil knows how much they can get away with.
Republicans and Democrats for decades wanted to give all the nations of the world a "shot" at the American dream..to become like them with two cars in the garage of a 4 bedroom house. Guess what? that is happening. The problem is that india a China alone have some 4 billion people doing that and using up most of the world natural resources while polluting the planet in the process.... and now Americans complain about high gas prices and pollution. You made your bed-now lie in it.
Me thinks we have hypocrites among us. In 2008, CNN reported Pelosi blaming the Oil Men in the Whitehouse when gas went over $4. Why not apply that to the current resident?
http://articles.cnn.com/2008-07-17/politics/congress.oil_1_drilling-anwr-pelosi?_s=PM:POLITICS
Because that is the calling card of the liberal base. When we think it's your fault, we blame you. When it's clearly our fault, we still blame you.
Whether it was Bush or Obama, if you think they have any say in oil prices I think you need to take an economics lesson and learn about supply and demand, especially globally.
War In Iraq, policy contributions to inflation. Also with the state of the economy then things were a lot more fluid. Now we can't just magically fix things because that was what got us into trouble the first time around.
Ya know, this insistence on presenting "both sides" of a debate actually harms public discourse when one side of the debate is bold-faced lies. Stephen Moore couldn't go more than a few words without telling a lie, yet he's painted as legitimate in the name of balance. I'm sorry, but liars should be denied a seat at the table.
Those who say Moore is lying are correct.
Lookup 1980's oil glut and learn the following:
1980's oil glut:
In September 1985, Saudi Arabia tried to gain market share by increasing production, creating a "huge surplus that angered many of their colleagues in OPEC".[18] High-cost oil production facilities became less or even not profitable.
Reagan recession:
The "Reagan recession,"[28][29][30] coupled with budget cuts (which were enacted in 1981 but began to take effect in 1982), led many voters to believe that Reagan was insensitive to the needs of average citizens.[31][32][33] In January 1983, Reagan's popularity rating fell to 35%—approaching levels experienced by Richard Nixon and Jimmy Carter at their most unpopular.[34][35][36] Although his approval rating did not fall as low as Nixon's during the Watergate scandal, Reagan's reelection seemed unlikely.[37][38][39][40
Reagan Recession plus Saudi flooding market with oil caused price collapse - not increased production in the US, due to Reagan.
Moore knows this, but he panders to Sarah Palin level idiots - and tells them what they want hear, even as he knows it is not true.
It was Bush's fault that gas $4.12 then it's Obama's fault that gas prices are at their highest point for this time of the year in history. You can't set blame for one and deflect for another. Bottom line is that Obama's energy policies are not helping this upward trend regardless if you choose to believe it. The Energy Secretary Steven Chu (yes he works for Obama) has been on record more than once that the administration wanted higher gas prices. They are now backpedaling from that faster than Lance Armstrong at the Tour de France. Well be careful what you wish for.
It was bushes fault though with the War on Iraq(which made him and Chaney millions; source: public record) and the policies that added to inflation. We are still trying to undo 8 years worth of ignorance which is probably going to take 20 years, at which time gas will just go up because the supply is FINITE and there is no magical fix for prices. We could stop speculation, but that would only level the market and not effect prices by that much.(probably $0.20 at most)
Give the "It's Bush fault til the end of time" speech a rest. Bottom line is that Obama has been in office for 3+ years and it's his policies that are in play now and have been. The office of the President has more power in this than people want to admit because by doing so, they then admit that Obama is a weak president. If he wasn't so busy bowing to foreign leaders and kissing everyone's butt, we might be in the better place.
After the BP oil spill, I can't blame Obama for not wanting to drill more oil. Would you want to relive that experience as President?
Yeah, people forget fast...
yep, blame him for the oil spill...then turn around and blame him for not drilling enough. It's almost starting to come off like throwing wet paper towels against a wall to see what sticks. And it stinks of fear.
The US Government should buy up all our domestic oil companies and not allow our oil into the world market. We should keep that oil here at home and it should be sold to our people at reasonable prices.
Mark, I sincerely hope you don't really mean this. 1) Nationalizing oil would make the U.S. no different than the petty dictators like Chavez. 2) Just think, if we prohibit our oil from going into the world market, other oil producing nations could prohibit their oil going into the U.S. We still use more than we produce. Your plan would be a disaster of unprecedented proportions.
That would drive prices on the world market which would still effect prices in the united states by making imported good more expensive. So instead of feeling the "pain at the pump" you will pay more for food, cloths, car parts, ect.(anything exported)
This would also makes services and restaurants more expensive. It is a viscous cycle for which there is no end as long as we rely on a finite resource to power 80%+ of our country.
Meant Imported XD
Republicans chance to get even? After all Obama has been pandering to one voting group after another throughout his presidency. Isn't that what politicians do? It isn't Republican or Democrat. Pandering for votes has become standard procedure in politics.
Speaking of a little research, try doing some of gas prices in other oil producing nations, such as Venezuela, Kuwait, Saudi. Lets hear again how it doesn't matter how much the US produces, it a world market price. Zakaria is so full of zhit, he is a hack for Obama and the oil companies. First off explain how oil companies get the right to take oil, a natural resource, out of American soil and sell it to other countries, without reimbursing the American people. Gas in Venezuela, Kuwait, and Saudi are all less than $1.00 a gallon. Republicans and Demcrats are one in the same, just like two drug dealing gangs, fighting to keep their business running.
http://mediamatters.org/blog/201203160013
I was just reading something about that on media matters
Current American production of oil is at a 30 year high. We export, more then we import. We could close the border, not buy one ounce of oil from anybody, and have a domestic surplus!
But Oil is a globally traded commodity... It doesn't matter what well it comes out of, it has the same price on the stock market.
We buy less, the Middle East will produce less, and the price stays the same.
China and India are quickly growing economies, using a LOT of oil... that makes the price go up.
People are worried about war and political upheavals in the Middle East... that makes the price go up.
Traders on Walstreet are trading 'futures' on oil that hasn't even been pumped out of the ground yet! That makes the price go up.
We could tap every well in America and pump it out at breakneck speeds. We could try and flood the global market with oil to drive down the price… It wouldn’t work. We just don’t HAVE enough oil in this country to do that… but we could try!
And what happens when the Middle East runs out of oil? If we’ve emptied every well in America… How do we survive while the world goes into violent, petroleum withdraws? What do you think the phrase ‘strategic reserves’ means?
The only solution to 4, 5, $10 a gallon gas, is to increase the fuel efficiency of our cars, and reduce the miles we drive per day. Doing this, $10.00 a week, doesn’t sound too bad, does it? This is the only long terms solution to save the American people money at the pump!
well this and the use of alternative energy before we get to the point of running out of petroleum.
years ago, a democratic president, in the face of the steel industry, whose only agenda was to raise prices daily, by 2-5-4-3-2%, until commodies made by that product were out of reach for the average American..Mr. Kennedy told the steel industry, enough, was enough; role back prices NOW..guess what, a president with a hammer, and he used it..we have the hammer, but no one strong enough to pick it up..
After WWII the US could demand anything it wanted because it's infrastructure and economy were not battered by years of war. The US lost that hammer years ago. Its the 21st century, the world is much much different.
Enough with the blaming the individual parties... The voters are really the ones to claim. We started to listen and vote for people that we knew were promising things that they could not make true. This is continuing to be getting worse. People blame Obama for not keeping his promises but at the same time make promises that they could never make true either. Now, stop bickering and just agree that no outcome will have a better plan for making gas cheaper. Deal with it!
They may not be Obama's doing but he sure can do something about them and hes not.
Like what? Become a member of OPEC? Get real.
Nothing can be done by Obama. Congress could help a little(if they could pass things), but it is not much. we are hitting that oil production max and oil is only going to keep rising on average. This in-turn makes gas higher.
Obama did have a long term to affect prices. It was his term as president and he chose to do nothing except to allow the price of gas to sky rocket. He could have removed the oil speculators from the market but he chose not too. This is what is making Americans very mad. They know that they are being fleeced by a few well informed financial guys being protected by our "beloved" president. There is no way you can convince me otherwise until the speculators are permanently removed from the oil market. If a rabid dog was the only opponent running against Obama I would vote for that rabid dog.
Besides more drilling, what other alternatives do the Republicans have? It seems to me that they are complaining without having their own plan rooted in reality. I mean $2.50 gas! We need another recession to get it that low again. Maybe that is their plan.
Thus Mitt Romney claims that gasoline prices are high not because of saber-rattling over Iran, but because President Obama won’t allow unrestricted drilling in the Gulf of Mexico and the Arctic National Wildlife Refuge. The irony here is that these claims come just as events are confirming what everyone who did the math already knew, namely, that U.S. energy policy has very little effect either on oil prices or on overall U.S. employment. For the truth is that we’re already having a hydrocarbon boom, with U.S. oil and gas production rising and U.S. fuel imports dropping. To be a modern Republican in good standing, you have to believe — or pretend to believe — in two miracle cures for whatever ails the economy: more tax cuts for the rich and more drilling for oil. If there were any truth to drill-here-drill-now, this boom should have yielded substantially lower gasoline prices and lots of new jobs. Predictably, however, it has done neither. First up, oil prices. Unlike natural gas, which is expensive to ship across oceans, oil is traded on a world market — and the big developments moving prices in that market usually have little to do with events in the United States. Oil prices are up because of rising demand from China and other emerging economies, and more recently because of war scares in the Middle East; these forces easily outweigh any downward pressure on prices from rising U.S. production. And the same thing would happen if Republicans got their way and oil companies were set free to drill freely in the Gulf of Mexico and punch holes in the tundra: the effect on prices at the pump would be negligible. Why, then, are Republicans pretending otherwise? Part of the answer is that the party is rewarding its benefactors: the oil and gas industry doesn’t create many jobs, but it does spend a lot of money on lobbying and campaign contributions. The rest of the answer is simply the fact that conservatives have no other job-creation ideas to offer.
The article certainly provides a lot of conversation.
Positions are unfortunately dictated by political view points not necessarily the facts. Of course the President Obama has an influence on gasoline prices just as he has an influence on employment despite Anderson Cooper's comments to the contrary.
Our gasoline prices are lower than Europe and will most likely stay lower due to the fact that we do produce more oil in this country then we used to which is reflected in the high storage in Cushing leading to lower WTI prices compared to Brent.
The Keystone pipeline (correct me if I am wrong) was, in part, to increase the flow of Cushing oil to the refineries and to also transport Canadian tar sands oil to the US. More efficiency in the system moves the product to where it is needed the most.
The President and the left side of his party overtly want to increase the cost of fossil fuel as part of their war on CO2. His own energy secretary is very open about his goal. Unfortunately truly cost effective alternative energy remains decades away.
I do not believe that anybody denies the need to move from near total reliance on fossil fuel, unfortunately, some want us to move tomorrow and to bad about the rest of us and our jobs and standard of living. Point in fact is the Keystone Pipeline and the good paying jobs. Just look at the Bakken Shale region of the Dakotas.
We need a multi-decade bridge to alternative energy and that bridge is and will be fossil fuel.
Our energy policy for years including Clinton, Bush and now Obama has been paralyzed by two sides. The drill side and the green alternative side with no willingness to do both.
When people say the US exports oil that is true, however we import FAR more so its very misleading. Yes, the US imports AND exports oil. I'm not a fan, but blaming prices on Obama or any president for that matter, that are determined by the economy is just ridiculous.
What exactly do you expect from Zakaria? This man is a paid spokesman/publicist for Obama. Plus, he lives in his own little world where bunnies and other little animals sings too. I'll bet you if the gas price is at $2 per gallon, he'll credit Obama every chance he'll get. I'll even bet if aliens come and visit earth, he'll credit Obama for being such a great leader that prompts them to show themselves. In short, this Zakaria the so called "news man" is nothing but a blow hard Obama supporter and defender of all that is bad said of the Administration. Like it or not, right or wrong, when you are President and things are bad you take the blame, regardless. It's called being a leader. However, in this case I think people are right when they blame Obama for the high gas price. Evidence points to his policies and people wanting the price of gas to go up so he can promote his green energy agenda. His Energy Sec. Mr. Chu said that he wants the gas price to be where Europe is. Obama lobbied his Democrats to block the Keystone pipeline project. His refusal to open up more drilling. His wasteful spending on pushing "alternative" energy like Solyndra and other shows that it's actually is his fault that we are where we are.
Cheap gas for your SUV or Iran having a nuclear weapon. You choose.
Only Dummies think the Presidend or President Obama has anything to do with the price of OIL. The lowly republicans would or anyone who thinks so would without FACTS or Truth. Oil is not the answer from the middle east! Don't you read or listen??? Renewables are the answer with our Natural Gas. Like in South America with renewables. Plus the fact that we are producing more OIL in 30 years, thow we on;y have 2% of the Worlds Oil. Not enough for what we are using now. Sure we are using less and less, so we don't need all that some will have you think. We have to get on the ball about not using middle east oil with the fluctuation in price from fears only. Not based on use. We will never get ahead of the rest of the world in developling renewables at a rate we need. In the news I wish major news start calling these lies for those who speak or post it.
Looking from the outside in (being a Canadian) I have always found (as a conservative myself) that the Republican party has no sense of the best offense is a good defense strategy on almost everything and in particular their take on oil. In 1981 when I was 18 Reagan became president and one of the first things he did was take down the solar panels that Carter put in. They were put in as a symbol of what the future could hold for a portion of the energy needs but Reagan basically had this, "we are the US and we will WILL are way past this energy crisis" mentality. He changed the course of history with respect to energy in the US and the irony is that his most famous line as an actor came from a football movie where most offense is defense is most associated with.
When Obama made the statement that if everyone in the US had their tires checked to improve gas efficiency he was ridiculed big time by the Republicans. It would make a difference of a few percentage points on energy usage and would have an immediate effect. I thought it was a great idea because every little bit helps and it was dead simple (much easier than drilling for more oil) and actually kind of obvious.
All of theses responses are petty at least. Name calling and arguing in the end will not put one gallon in your tank. Instead of calling each other out and turning this into a moronic game of I am right and you are wrong, propose a solution. Oil is a finite source, demand will increase it's value. If it has value it will be traded and money will be made, that is the nature of capitalism. The only thing that will drive the cost of oil down is multiple energy sources. The United States put it's brain trust to work and created the atomic bomb. This was done in the name of national defense. The country also put it's brain trust in sending a man to the moon and the space program, although unspoken it too was in the name of national defense. The cost of these programs was billions. We have declared a war on drugs, costing billions in the name of national defense. We have been at war for 11 years spending and still spending trillions, in the name of national defense. So in the name of national defense I propose that this country put it's brain trust and resources into the creation/ discovery of the energy source for the next 200 years. Stop wasting time blaming and name calling and start being proactive, solve the problem, put people back to work with the solution, and start being the leader of the world that we are.
I always find it funny that the people who call Obama a socialist are the first to want him to fix the price of oil.
Because he is still the President of the United States. He is not being paid to sit on his behind and do nothing. He can be doing more to help with the pricing.
Fareed Zakaria is your typical left wing hypocrite. He's correct on some points, but only include points that suit his political agenda. Obama and his administration have been clear from day one – they want hire gas prices. Now that it's and election issue........ as always, different spin and story.
This story was covered more by 10 fold when prices spiked during the Bush administration.
We have billions of barrels of oil we can extract. For thirty years, the far left has stopped it. Meanwhile, we give money to Brazil, and Obama travels there and tells them we can't wait to buy the oil they've found. We could have kept our money and worked to extract our own oil.
Obama and his limo liberals feel we owe the world something. They're working day and night to keep you dumb so you don't look at the real issues or understand them.
You actually think the US has oil? Why would we need a pipeline from Canada then? You will take Canada's oil no problem, but it becomes an issue for you when it comes from Brazil? Give me a break.
Folks the issue today that is driving up gas prices is not the cost of oil. He real issue / bottleneck
is that our capacity to refine oil to gas is way down. Refiners actually claim to be losing money
Refining oil to gas. Politicians like Newt are just playing to the stupidity of their base while catering
To oil companies who would just sell more of our oil overseas.
What should be one real results of candidates being completely irresponsible in trying to aggressively deceive the public for political purposes, is that their dishonesty be recognized, identified and the people become alienated, to the point of the individual being recognized as a liar and people then refusing to give them credit in anything, knowing that they will ie again and again. Look at the conversation with Stephen Moore, Fareed had to literally nail him down as all he wanted to do was find fault with Obama and once he admitted the reality, he didn't have a leg to stand on but just kept going anyway. Disgusting. If a politician has something constructive to offer he should feel an obligation to do so but when it is B.S. he should be recognized for that and disregarded.
Of course high gas prices are not Obama's doing. So far he hasn't done anything.
Doesn't sound like a socialist to me. You yes, Obama no.
This is an outright lie Zakaria! Chart gas prices over the last 180 days and compare that to news around the Keystone pipeline! You will see that when the media reports that it may or may not happen the gas prices were flat, but as soon as it was a NOGO the prices started up! Obama is the one who is directly responsible! No drilling in the Gulf still.... Federal leases at their lowest levels in history... Obama stoping the pipeline! You are paying more because of Obama!
As a moderate I just laugh when I read that republicans are trying to blame Obama for an oil crisis, and the fact that the American people believe it. You should just read some quotes they were throwing around during the Bush administration when gas was at an insane high. They were going around adamantly insisting that you CANNOT blame a President for rising gas prices. Politics just crack me up sometimes.
*rubbing my temples not even bothering to go through this BS piece of usual Obama Bum Kissing lunacy*
Obama is NOT putting pressure on the speculators. Gas prices were up during Bush's term as well. Then pressure was added, gas prices went down big time after that plus the moratorium on drilling was lifted.
Mr Zakaria, Your Liberalism is howling big time. I essentially agree that that Gas prices are usually beyond a Presidents control, BUT, it is a big But, How come when prices rose under G. W. Bush, CNN and the other LIberal Networks blamed him and said he was paying back his Big Oil friends. To my knowledge, O'Bama has no Oil friends, nor should he. Just another classic example of Liberal Network and Media Bias and a A Double Standard.
I do think that O'Bama's lack of interest in developing a Real Energy policy affects the Oil prices. Face, Electric aren't the answers and windmills in the backyard either. What the hell has the got against Nat Gas.????
Everything that is wrong with the world, past, present, and future is clearly the fault of the Bush and Cheney administration. There is no denying that. Thankfully, our lord and savior, his eminence Barack Obama has been re-elected and is putting us on the path of socialism. America is realizing that a one-party (Democrat), all-encompassing government is what we need, want, and must have. Americans are ready to invite the government into there lives because they know only the government knows what is best and will take care of them; making all decisions for them.
This post, pursuant to CNN guidelines, was created and posted using the all-new, magical, glorious, amazing, beautiful, and stunning Apple iPad.
Fareed this, Fareed that, guy is a talking head goof, he publicly endorsed Obama, so do I expect objective talk on Obama policies, duh. The worst on both sides of the coin on both sides is this reporting from the "center", and they think people are buying it
I thought was the plan when they started the debate....Anderson cooper in the middle, Zakaria for the left and the other guy for the right debating whether or not the presidents has any influence over gas prices? Wouldn't have been a very good debate if Zakaria agreed with the other guy.
This muslim Zakaria is pro-Iranian, pro-Commie, ProObama, Anti-American…no wonder he won't blame the current mob in the White House!
Let's see...high gas prices post-Katrina were Bush II's fault. High gas prices now aren't Obama's fault, even though there's no natural disaster beyond Obama's policies.
Yeah. I see the logic.
What Stephen Moore was trying to say was, yes the president can't impact short term pricing, but he sets the tone that has impact on world pricing. Obama's policy have been distinctly against development of oil resources and that can have an impact on the direction of prices over the long term.
Again Fareed you and CNN are no where near being fair in your reporting and opinion pieces. Have you no shame?
While it is true that Mr. Obama is not totally responsible for higher gas prices, he certainly could take measures to help reduce prices. In addition, if prices were falling, Mr. Obama and his surrigates like Mr. Zakaria would be claiming credit.
if a president is going to take credit for higher stock-market numbers, and higher employment, then he's going to have to take credit for higher gas prices as well
Right Now the US Government gives the Oil Industry Outright Subsidies of Over 4 BILLION DOLLARS a Year. That Money could be Used TODAY to give a $7,000 EPA sponsored Subsidy to 4,62,000 AMERICAN DRIVERS every Year to CONVERT Their Commuter Car to ELECTRIC. We could ALTERNATE YEARS and Put-Up 231,000 HOME Rooftop Solar Installations that would WEAN US off our BURNING of DEADLY COAL. We Just Need to Be LESS TIMID
is electric cars really viable? Seems to me we have energy issues with brown outs, black outs and electricity spikes during peak usage months. Can't imagine a big city adding 100,000's of electric cars to that equation.
Electric Cars are Charged "Off-Peak" at Night – but a 21st Century energy Policy requires MORE of Our Electricity Generated by Wind Farms and Home Rooftop Solar.
Quantatative Easing one was implemented to raise commodity prices from stagflation. Sky high gas and food prices are the result of QE1 and QE2.
Please don't try to explain economics 101 to Fareed he's too busy playing politics.
Why wasn't Fareed writing this when gas prices were high during the Bush administration. Oh wait I know why.
Gas prices were never this high during Bush. But who owns most of the gas companies? 1 Guess...REPUBLICANS! The truth is that they are willing to stick it to the common man to get more money. These republicans are a disease of the soul.
Fareed, great interview but you got one thing terribly wrong. We do not export more oil than we import.
Dear God, I do wish someone would educate these television folks about how much oil we import and export. This silly rumor got out there that we are a net oil exporter for the first time in decades. We all know now how it got started, that is by people mistaken the announcement that we are now exporting more refined petroleum products than we import. But it got all twisted and has led to this disaster that so many people now believe we are a net crude exporter.
The U.S. produces about 7.5 mbd, and consumes about 19 mbd, meaning that we import about 11.5 million barrels of oil per day. How Fareed Zakaria or anyone else can understand the world political and economic situation without knowing this, is beyond me.
How Fareed Zakaria or anyone else can understand the world political and economic situation without knowing this, is beyond me."
Simple, they can't and they don't and neither does the vast majority of the American public. What is worse very few people seem to have any realistic concept as to how much oil we have in proven reserves and how much of that is recoverable and at what rates. Personally I wish that we would go ahead with a massive drill for oil everywhere campaign to prove once and for all that it will make no significant difference in the price of gas at the pump. Then we could proceed to tar and feather all politicians from both parties... assuming we still have some tar left >;^)
According to Zakaria NOTHING is the great and mighty Obama's fault.
Fact: America owns 3 percent of the world’s oil but consumes 25 percent of its global reserves. This has been confirmed by Politifact as recently as May of last year, and has been reported widely; these numbers are not significantly disputed by politicians, oil companies, or journalists.
A little math tells us then that we are not going to be able to do much about global pricing becasue we are the buyer, and it's a seller's market. Meanwhile, demand from China and other developing nations is spiking (a little Econ 101 tells us that an increase in demand for a limited supply will raise prices).
hence, another pesky fact: EVEN IF the US drilled more/faster/now, it would barely make a dent in the global supply/price. We are not the behemoths we think we are when it comes to our impact on supply; but we clearly ARE behemoths in regards to our demand for a resource that we MUST import as long as we remain dependent upon fossil fuels.
So how about a compromise? We allow more drilling now...in exchange for a meaningful lease surcharge that is directed to public/private alternative energy research. And yes, we have to accept there will be Solyndra-like failures in the march towards national success and supremacy in this field...or else China will eat our lunch, becasue they're already way ahead of us in green tech investment AND results.
Try your math again – those two figures are MUTUALLY EXCLUSIVE!!!
What two figures? We consume 25% but own only 3%? I guess I wrote "own" but I meant in-the-ground oil we can produce. Sorry if that wasn't clear.
(And actually, I copied that line from Politifact's article supporting the claim in the first place.)
Anyone who blames Obama OR Bush for rising prices ignores simple supply and demand. Chinese folks are buying cars and building factories, and we are now competing against the Chinese and other emerging markets for a limited commodity...hence, Econ 101, prices rise. Any increase in US production will be just a blip on the world market, and anyone who doesn't understand that all the oil we produce goes into that global market and is subject to global pricing doesn't understand the oil business and has no place commenting on it. Want to reduce prices? Reduce demand. Supply may increase for a few years at best, but I suggest you google "peak oil wiki" and read up about how there's gonna be a lot less oil for us all by the end of this century...and the new global leaders will be those nations that foresaw the cataclysmic changes and opportunities to reap benefits via development of advanced green and alternate energy technologies.
According to this morning's news, Obama proposes to "reduce subsidies," i.e. increase taxes on oil companies. That tax increase will be passed right along to the pump, and *that* increase will clearly be the doing of the current administration.
I am an independent. Take away all of the rhetoric and it comes down to one thing. Do I trust the Republican Presidential candidates and politicians or Obama and the Democrats? It is a no brainer for me!! I just don't trust the Republicans based on what they say and what they have actually accomplished. To me they are nothing more than Monday morning quarterbacks with only criticisms and no real solutions.
The thought of Zakaria or Obama either one gives me gas.
Yes macro-economic and political factors do matter in the pricing of oil on the world market. 1) the inflationary pressures placed on the economy by the Federal Reserve fiscal policies does cause prices to rise, also 2) not permitting new oil exploration in the US and off-shore creates uncertainty as to future supply thus higher prices. If the government has "no control" over neither oil prices or supply and demand why then even have a department of energy?
"...why then even have a department of energy?" For one thing, the purpose of the department isn't JUST to keep gas prices low. In fact, a preeminent charge of the department is to continue to explore the balance of costs, resources, consumption, and innovation. If the R's wouldn't continuously battle this energy, as the pawns of the oil Co's they are, we might be kicking China's butt in green tech right now, but instead it's the other way around. Just becasue the department's efforts have been stymied by pro-oil forces doesn't mean it has no purpose.
Bottom line- Obama swore to the American public he would never let this happen again. He has made this country so much worse than Bush did, starting with Obamacare which now is going to cost twice as much as first thought. He has brought the Chicago political system to Washington so we all have to deal with it for the past 3 1/2 years. It has to end in November. Let's show these thug politicians that we are in control of our own destiny.
yeah right, just like it wasnt bush cheney's fault during there presidency ?
Zakaria is such an Obama shill. He would blame Obama's mother for making him black.
I'm confused. How was she not part of that decision?
A modest proposal. Establish a congressional commitee to investigate the reasons for rising fuel prices, including the market manipulations by professional speculators. Watch the prices fall.
"Establish a congressional commitee to investigate the reasons for rising fuel prices... "
That assumes that there are individuals in Congress who are mathematically and scientifically literate, who understand physics, chemistry, geology, resource limits etc.. and last but not least understand how the global economy depends on the concept of infinite growth to keep functioning, something which is no longer possible. In other words their salaries depended on their not understanding these things. Good Luck to all of us!
Big Oil Companies are NOT run by Obama, nor are they run by Democrats. They are run by Republican Rich Pigs, who announce every year that they made "record profits" while jacking up the price of gas to suit themselves. Likewise oil prices rise because of Wall Street speculators...again, Republicans. These groups are trying to make the President look as bad as possible, knowing that a load of stupid morons in the public will blame Obama, so they jack the prices up in an election year so their corrupt party can win. REMEMBER THIS HAPPENED 4 YEARS AGO!!!!
LOL good try dummy. The wall street guys are the biggest donators to Obama. Shocker that somehow none of them got charged with any crimes for destroying the american economy. Keep being stupid though.
Oil prices also rise internationally because the Chinese are buying huge amounts of it...with MONEY THEY GET BY PEDDLING THEIR CHEAP CRAP IN THE USA, which the idiots here buy by the ton at WalMart...STOP BUYING CHINESE GARBAGE!
If it is actually true that we have more oil than Saudi Arabia, then the solution is to remove our oil from the world market when that oil is available (being produced). This would cause a LOT of oil company howling but we'd be energy independent.
IF it's actually true.
Wait until our food prices go up even more. Just look at the current price of peanut butter as an indicator of things to come. Pretty soon we are all going to be on food stamps to help pay the grocery bills. maybe thats the goal?
When gas prices were high during the Bush days, it was Bush's fault. When gas prices are high during Obama's term, it's not Obama's fault. Typical liberal mentality. The liberal media is an utter joke these days.
obama will win 2012.
Obama is our leader. He pushes for higher prices. He does nothing to control the rise in gas prices. He is to blame.
Yes, a president wants high gas prices in an election year to hurt his re-election. What in hell are you thinking? Don't think, you will hurt yourself.
What good about Obama? Let be clear. What he done for USA. Food stamp over 48mil people, gas price to the roof, unemployment to the roof, debt over any prediction,poverty up,. 3 years of b.s. O yeee, He good to bla-bla-bla- and raise money for his campain. Vacation and 106 fund meeting at $35000.00 per meal. He is the worst president ever.
Of course gas prices aren't Obama's fault, nothing is. Everything that happened during Bush is his fault, and everything that happens during Obama is because of something Bush did that is affecting this now. So so convenient to be a democrat. That's your platform, no personal responsibility.
Could not agree with you more!
President Obama will win re-election by a landslide! But just in case he didn't I guarantee it would be the end of America as we know it! With all the blatant and outrageous bigotry, racism and hate being spread by the teabags and the gop and doing all that they can to bring back jim crow, this country is heading for a civil war.President Obama is the only President that can unite this country and move us forward. And as I said, if he continues to be blamed for the sh/it he inherited and happen not to be re-elected, I just home a nuclear war within America destroys this country for good.
Nut just Jim Crow....but they want to reinstate ownership of women into the "private sector."
IF Obama wins again it will lead to the downfall of this nation and you will get your wish. This administration is one of the worst on record. You may be right that others have been bad, but this group is by far the wrong direction to go. If it was not for the mid term elections and their efforts the nation would be in far worse shape!
So two deadly and costly wars along with the worst economic crisis in American history is not the start of our demise?
Seems like somebody is envious and jealous of the successful and intelligent black President! Let's face it, you can't change the tide of history my friend! Don't blame our President for being the greatest President in US history!
So long sucker!
Ya'll are making it too complicated. Big Oil = GOP. It's election year. Gas prices WILL be high.
Very good point! The unemployment race is decreasing and Americans are returning to work so the Repugs have to try another trick up their sleeve to see to it that Obama looks bad in this election year! But as with every little trick they have tried to undermine this administration, their sleezy tactics will fail once again. Obama/Biden 2012!
I agree that Obama can't do much about the price of oil in the short term. What I HATE is the double standard. President Bush was attacked/beaten down by the media and many others when gas prices went high during his eight years. However, Obama gets a pass. For Obama, the mantra seems to be "it's all political" and "there is nothing he can do". That, my friends, is a double standard.
You're wrong! A double standard is when President Obama gets blamed for the garbage he inherited, like two wars, an inflated national deficit as a result of funding these wars and for policies protecting billionaires and millionaires and getting blamed for the worst economic crisis in American history! That is a double standard! And a double standard is when no one to the right blames Bush and company for killing thousands of our troops in vain and a million Iraqi and Afghan civilians in vain but instead comes to his defense but blames President Obama for trying to end these illegitimate wars and improve our image abroad! That is a double standard!
I can't believe reading all these comments and nobody compares oil vs. gas prices. When the prices were this high under Bush, oil was $135 / barrel. All you seen everynight on the lead news story was gas prices killing the economy. One of the driving factors to include is the draconian EPA requirements coming into play. Wait until next year!!!! They are shutting entire refineries and partial units down because it would cost too much to comply with Obama's EPA policies.
NOW!
Gas prices increase is not of Obama doing, it is republican doing. GOP is obstructing high-speed rails to bring down consumption of gas by millions of travelers beside cost of logistics for everyday used necessities of life added with pollution by largest vehicles on the road impacting disease rate, lethal accidents rate & environmental changes. They support higher prices & industrial interests of gas companies & opposed Obama as un-American with recovery of cost of damages in case of Gulf Oil accident by BP Oil company. It is wrong to brand Obama with wrong propaganda the people of America who are now intelligent enough to understand the hidden misconceived policy & philosophy of Republican Party & its leadership.
Personally, I believe the prices will come down after the election. High prices for fuel and other consumer goods [read: inflation] are the death knell to any sitting president.
No one can know for sure, but a simple comparison of oil prices (per barrel) vs. gasoline prices (per gallon) never to be in sync. That is if oil is $100/barrel, it does not equate to a consistent price of gasoline per gallon.
There is a lot of wiggle room...
In that room are a bunch of speculators and oil company executives (not just US companies mind you....) that ultimately control the price of fuel. It's a commodity, yes, BUT commodity prices are manipulated every day. Look at silver prices in the 80s. Look at bundled high-rise securities. Price manipulation...
The short of it is – for you conspiracy folks – yep.. the Republicans are in control of the oil companies who are in control of the pricing. This gives the Republican party a better chance at electing a new president. Oil prices magically come down before any of the new president's policies can take effect... but the Republicans take credit anyway.
there is no doubt Obama inherited a mess. But Bush inherited a mess before him too. Let's just say that big business and politics and all of the associated crap of power and money are in bed together.
Pray we can get and keep a job and pay the prices to survive.
Look, the pure and simple fact is that the price of gasoline won't come down until the price of crude comes down. In the Reagan era, China and India were not factors, and crude was ~$20/barrel. But the cost of crude for refining gas is 67% of the cost. At $110 for a 42-gallon barrel, that RAW CRUDE cost is $2.62/gallon. The other 33% is refining, distribution/marketing, and state and federal taxes, which brings it up into the retail range we're seeing today. Since CNN doesn't allow links, Google "component cost of gasoline". For $2/gallon gasoline, crude would have to come down to roughly $55/bbl, which isn't happening anytime soon.
Obama really can't do much about gas prices (maybe release the SPR, but that is temporary if at all) BUT he is the President, and fair or not, the President is responsible for everything occuring during his watch. If you don't like taking the blaim for things like gas prices, then don't run for President. If Gas prices were $1.50 garenteed he'd be taking some credit for it...
"if you were to do everything that Newt Gingrich fantasizes about, would be less than half a percent of that. So the chance that it would have any impact on the price of oil, particularly in the short run, is pure fantasy. Newt surely knows better."
Actually, NEWT doesn't know better. He is content to lie about this situation as are the other Republican candidates. They don't have an actual working solution – just "promises".
Oil price fixing is legal when the speculators but up huge volumes of oil and drive the price up. That's okay????? Then why when 2 gas stations near me that lowered gas prices down to $2.50 a gallon to get people into their store and buy other items illegal? The Oil suppler took them to court on the grounds of price fixing. They had to raise the price back up... Unbelievable!!!!!!!!!!!!!
....the oil prices are going up because the United States put pressure on the Europeans to embargo Iran...but they wanted to embargo Iran after the Summer driving season was over....Iran pre-empted them and instead cut their oil now. So now BRENT CRUDE IS UP TO 125 DOLLARS A BARREL!!! This is huge...even though Texas Crude is only at 107 the reality is that these prices ARE KILLING THE GLOBAL ECONOMY. I am sick and tired of the lies and the stupidity of these holy wars, I am sick and tired of the "mafia" which uses money and media manipulation to control the FREE WORLD and I am sick and tired of the corruption that makes all of us pay for this manipulation....as for Iran? All these people should try some real negotiations LIKE RON PAUL TOLD THEM!!!! I dont think I want to have to spend 70 DOLLARS TO FILL UP MY TANK SO THAT WE CAN KICK THE PALESTINIANS OUT OF THEIR HOMELAND....this is not my fight or my conviction....is it yours?
The oil execs are laughing all the way to the bank every time you knuckleheads blame Obama for the price of gas. They really want you to fight to have their subsidies kept in place so they can give themselves raises and build their mansions.
Plus I believe a couple of these folks here are right. It's election year and the Big Oil doesn't want Obama re-elected so we're going to need all the k-y we can get.....
November 2004, the week of the election, we had the cheapest gas in Ca that we had for a while, I remember it was about $2.40. The week after, it went up and did not go down until few weeks before election 2008. November 2008 gas was at $2.60. It did stay, for a while longer than 2004, at that price for few months before going up. Gas prices will keep going up until election week 2012 and will drop like rock the week after the election. It will go above $5 in october.
When the price of gasoline skyrocketed under George Bush it was because of "George Bush and his oil rich buddies".
Now we can blame Obama and his environmental buddies. If more area was opened up for exploration the price of gas would drop a $1/gal overnight. Guaranteed !
I blame them all! Anyone that promises to do something about our energy policy and does nothing is to blame and that's every president for the last 40 years. Right now natural gas is at an all time low. You can fill up for less than the equivalent of half what it costs to use gasoline. If we had taken a quarter of the money that we spent on the 2 wars in the middle east and used it to help set up the infrastructure needed for people fill up their natural gas cars their is no doubt people would be buying the in droves. There are 11 million natural gas cars in the world right now and only 120,000 in all of North America. The highest number of natural gas cars in the world are in Pakistan (2,250,000) and Iran (1,700,000). What???? We are behind the 8 ball and Iran is ahead? What???!! I thought the middle east had tons of oil!! Now I know that a lot of people are going to site problems with fracting etc and I won't say that they're are no hurdles to be jumped and problems to be solved but they are not insurmountable. And I will also mention this. A lot of people are going to mention the scene in the movie where people are lighting their water on fire. That's just methane and people all over the country have bee lighting methane that escapes from the ground and comes through plumming for years in places live CO , WY, NV, VT...........etc. Long before fracting, this is not a new thing people. We need to get under the thumbs of big oil! Hopefully in a few years solar will become the cheapest source of energy but until then think forward!
@ gino
Just google it!
Do you repubs remember when Dubya went overseas and asked OPEC to drop the gas prices? Remember how they sent him packing? Of course you don't. Selective memory = most repubs.
Let's face it, if gas prices were $.99 cents the rightwingers would be saying that Obama had nothing to do with it. When the unemployment numbers go up, its Obama's fault but when they go down, Obama had nothing to do with it. Sort of like Dick Cheyney coming out of hiding and trying to take credit for the killings of OBL and Awalaki by saying its his previous administration's intelligence that got the job done. You rightwing confederate trailer trash are the worst living things to ever walk the face of the earth. I wish a plague would wipe all you rightwing confedrate trailer trash off the face of the earth. You people are just stinking trash that shouldn't have been born.
It's 1000% obvious that the only people who are responsible for this is the GOP. Why? Well who do all the oil companies give their money to? Republican politicians. Why? so they can vote against alternative energy, and vote for more drilling, So in return the oil companies are raising their prices because the gop wants them to do so, so they can blame it on the President. It's crystal clear!
Do you believe everything your crystal ball tells you?
High oil prices was bush's fault. But high gas prices are not Obama's fault. Yeah.
And whose fault it is for our inflated national deficit that has funded two deadly and costly wars? Whose fault it is for the worst economic crisis in American history? Bill Clinton? You're f-ing delusional, stupid and pathetic!
Really? Stopping a pipeline from Canada. Preventing oil drilling in Alaska and most of the coast. Doing all he can to paint oil companies as evil. Limiting oil extraction on the mainland using new recovery methods. Preventing the development of new refineries. Obama is responsible for none of this? Zakaria doesn't have an objective bone in his body.
Obama is incompetent and he needs foreigners, like Fareed Zakaria, to shill for him. Fareed Zakaria needs the job so he can report to the Directorate for Inter-Services Intelligence in Pakistan. Our government, and CNN, support another viper in the heart of America.
No confederate, President Obama is the best this nation and world has ever seen and that is why our trust and credibility ha improved and been restored worldwide! And that is why our troops have returned home from Iraq and that is why democracy is now being enjoyed in Egypt, Libya, Tunisia and continuing to spread worldwide. Its because President Obama is the best there ever was and the best there ever will be! Hey, that's leadership worthy of a mother f-ing Noble Peace Prize!
Pakistan? Surely you know he's from India, right? Or do you think India and Pakistan are the same? That would be like confusing the US with Iran. Let me guess.. you're one of Santorum's chums who believe education is bad for you.
High gas prices are not all BHO's fault; however, he is a part of the problem along with a few others. His buddy George Soros is making a ton of money with all of his oil holdings. The value of our dollar (which is partly Obama's doing) is another reason for higher gas prices, etc., etc., etc.
The Demon Dems always pused for higher and higher prices at the pump. See what the past couple of years have been like; so if the prez is in for another 4 years it will be $8.00 per gallon gas.
Bush inherited a surplus and a stable and thriving American economy, but he ended up leaving us with an inflated national deficit and the worst economic crisis in American history, yet rightwingers are still defending him while attacking President Obama for the crises he inherited! Well, its good that the whole world can see for itself how bigoted, phony and racist this country mother f-ing jim crow country really is! What a f-ing stupid country! Rightwing confederate trailer trash!
It doesn't really matter what the truth is, Republican candidates will say whatever their followers will believe.
Not true, but those lame dumocrats believe everything media matters tells them.
It's inflation. Your dollar is worth less as the confidence in the bill goes down world wide. Credit down grade and trillion dollar a year debt. This is the first wave in a series of ever increasing prices, fuel, then food, the everything else, 8 to 12% inflation by the end of the year, maybe hyperinflation if debt and spending continue. If you lived through the Carter years, you've seen this before.
Fareed is dead wrong, again. The left has prevented drilling in our known abundant oil fields for the last 40 years-meanwhile-the country has been beholden to paralyzing environmental regulation. Thus-we provide less than 40% of our own supply. This is because liberals have "pandered" to environmentalists endlessly. I hope the Straights of Hormuz are closed. This way the American people will realize that fighting for Arab oil isn't worth it-and we should sustain ourselves. Americans dying in the middle east, fighting to maintain an Arab supplied oil stream, because liberals prevented us from drilling at home... thats the price. American boys die-while Kodiak bears are saved. Thank you, liberals, thank you President Obama. The blood has always been on the hands of idiot liberals.
wow...no liberal sent you to war over oil. The republicans sent you to war over WMD's. They are really specific that we didn't go for oil but for Hussain's atrocities and WMD's. I think the called it the axis of evil. A Liberal brought you home from Iraq. Two of our countries allies sit on top of 1 & 2 largest oil reserves. And Brazil has entered the equation. Why would we even need to fight over oil when everyone with the oil is on our side?
Yet another reason for brains over bluster in the middle-east. Less tension means far lower gas prices than more drilling!
Anyone that believes the President controls the price a gas is also the same idiot that believes Mitt Romnay, a white Mormon millionare has the best interests of the middle class in mind.Wake up. The Republicants don't care about anything but profit. Which one of the candidates is bank rolled by Big Oil? That would be Mitt Money.
Energy prices are what they are because it's a limited supply, and there's a small number of companies providing energy.
It'a a virtual monopoly, just like airlines when one raises the price, and they all do, and the gov't says they aren't coordinating it. Same effect, so in effect, it's a monopoly that requires regulation.
Until gov't stops being the bought and paid legal arm of the energy industry, enacting whatever laws they desire to make whatever profit they desire, the price of energy of any sort is beyond anyones ability to control.
Neither Obama, or Gingrich, the Reps or Dems can control energy prices.
Only the corporate execs decide how many more billions they need to line their swiss bank accounts with, and thus, what we pay and when we pay it.
Effective alternative energy (that dosen't turn food into fuel, raising the cost of our most basic need, FOOD), energy efficent vehicles, mass transit, energy efficent construction, distributed generation, and a smart / much larger elec. grid will ever offer an alternative to oil, and it's easy manipulation.
Though of course, anything can be manipulated if the gov't is for sale.
The oil companies like to jack the prices so they can give more cut backs to the politicians who do they're bidding but those contributions actually come from the public sector, When bush was president, oil prices were at record high through out his term even though the price per barrel was down, As soon as he left the gas prices dropped significantly and everyone knows that both Bushes were in the oil business, So in some little respect we have to some theory as to why some presidents have kept the gas prices down and not others, Theory has it that speculators in the trade market is what drives the prices up, other theory's say that it's production decreasing because of refinery maintenance or shut downs. regardless of these theories we will see oil prices jacked up quite a bit until everyone is satisfied with the price and quits complaining and than they will jack them up again. It's been happening for years.
How is Romney/Santorom/Gingrich going to lower prices when they march into Iran? That will create more reassurance how?
The real problem is inflation, oil will continue to spiral up and the basic commodities bread, milk and other food will skyrocket ............... housing market will correct itself and gold will be at $4000 an ounce, oil at $300 a barrel and your house will be worth 5 times it's value today...... but you won't be able to buy a loaf of bread at $5, or a gallon of milk at $10............. salaries will be the last to recover.
Forget about the elections watch the prices of the basic commodities and whether China keeps consuming or hiccups and causes a hugh worldwide depression.
As I have been reading through the comments I have be poking around on the internet looking up facts and charts relating to gas prices. And in the end I am struck by this....
1. Gas was only under 2.00 from November 2008 to April 2009 (looked at a 6 year period). Those of you rattling off at the mouth about 1.60 a gallon have "tunnel vision" memories
2. Gas prices were falling to that low during the final months of presidential campaigning and it did not sway the nation to pick the GOP as our gas saviors. Do they really think that using "high gas" prices as a talking point is going to get them a win when the lowest gas prices in 6 years did nothing for them.
3. Canada, which is sitting on the 2nd largest oil reserve, pays 1.00 to 1.50 more than we do on a daily basis. So can anyone explain that one to me? Canada should be paying less than anyone I would think. All they have to do is collect it, refine and put it in their tanks right? Where in the world does that extra dollar come from.....oh yeah they don't have to pay 300.00 to 700.00 a month to a health insurance carrier that may or may not be willing to pay for health issues that arise. If I use roughly 60 gallons a month, that's an extra 90 a month replacing an insurance premium of 350.
4. Gas prices typically rise this time a year (provable by looking up gas pricing charts) and just personal observation. I expect it to rise at this time of year and would feel like an idiot to admit that I wasn't aware of the yearly trend that spans back far longer than the Bush Era ( http://data.bls.gov/cgi-bin/surveymost ). Gas prices will be high around holidays and summer family travel time. Gas companies are business, they will take advantage of consumer habits. It's a cornerstone of capitalism.
5. The white elephant in the room is whether or not the GOP holds more influence with the Gas/Oil companies than the Dems? Do these companies, out of loyalty to their party, fluctuate prices to aid their candidates during election time? Why wouldn't they? (my repub friends like to rail at me about Obama's links with the unions. Which is true, dems have always had the union behind them) Isn't it the same thing? I got forwarded a letter written by a Valero Executive to their employees whining over the small keystone setback. I was shocked that such a political biased opinion over the situation was appropriate for a corporation to be randomly sending out to it's employees. If the decision had affected a policy change then okay, but this was just a statement about Obama saying no to it. They chose to leave the part out that it was Nebraska who asked for a no to one small part of it.
I am a liberal and do believe my own propaganda. Would only mess up the inironment on somebody elses property. Another trick by the conservatives IS not designating the route of the line BEFORE approval.
Not the President's fault. Even FOX says so...and O-Reilly. Bill even agrees with Obama in asking people to use 10% less energy and sell their SUV's for fuel efficient cars or ride bikes to work...oh wait, that was when Bush was in office back in 2008.
I work in the oil and gas industry. Our execs have always known that no US President has had any real control over oil or gas prices.
The difference being Oil Execs (primarily Republicans) have kept silent during the Obama adminstration regarding how little influence they actually have over foreign suppiers and foreign customers, principally China, during times of war in the middle-east. Gee, I wonder why the price of oil is so high. Duh!
Their goal is simple, use the uncontrolable international price of oil to blame the current administration for anything and everything. If our domestic oil companies are so smart, why haven't they negotiated better purchase prices. I've work for several of them. They ain't that smart...but greedy yes!
They don't give a darn, because they know than can pass the costs on to consumers with impunity.
Reference:
http://www.wtrg.com/prices.htm
If you work in the oil and gas industry you would know even the oil companies cant set the prices. Sure lets make a barrel $200/ barrel. good luck selling it. Sure could they yes. the market forces wont allow it. Same thing happening on the east coast with refineries shutting down. The price of bench crude from north sea is too expensive to refine and resell. So now they are not selling a whole lot of it. the market cannot support it.
You don't actually think anyone who hates Obama is going to listen to you let alone believe your words regardless of where you work do you? Reality is not a priority to them.
In reponce to botjh of you, the ujncontrolabilyt of internationl oi prices is exactly me point. While we consume a whole bunchof the oil production, the oil producers are sticking to to us (the USA) and the Oil Execs are sticking to us cause they know they can pass the costs on and we will still fill up our tanks.
As to the other point, exaclty because I have been nose to nose witrh this for thiry years, I sharing how badly we are being ****ed. It's all legal, nothing we can do about it (other than stop using petroleum products. FAT CHANCE!)
But the political card be played is somehow the current administration is to blame. That's moronic!. No president has been able to produce an effective energy policy because the folks who get rich from oil are continuing to get rich from oil. What? You think they aer actually thinking about your well being? LOLOLOLOL
That Steven dude just said that California and Nebraska has more oil than Saudi Arabia... That's what I call trustworthy information.
In other news, Steven also reports that when he dies, he will ride into Heaven with Jesus on a chariot with chocolate wings.
Bull Mr. President. Your policies, your problem. Bush got blamed by the dems when
it went up in his administration. If you can't take the heat, please get out of the kitchen.
The problem here is the oil companies OWN both parties. Obama does have control (with Congress). 1. regulate our oil speculators and publish how much a run the cost up and it is a LOT. 2. take ALL tax breaks away from oil companies. 3. enforce our laws against goudging (ever wonder why our 2 major companies are extremely higher than the independent). 4. Go back to the goverment regulating oil when it was cheaper Making 30-40 BILLION in PURE profits while the price goes up is a joke. YES – we do have control.
1. speculators lose also. If the stock loses. they lose. vice versa. 2. take away tax breaks hurts the small companies that drill for oil and devolop oil wells. If they cant write off equipment and loss. then wouldnt that be unfair since other companies and business take advantage of them. 3. the oil and gas industry are the most regulated and tax industry in America, period. On the other hand the mining inudstry does not pay one cent in royalties. We need to go after that industry. However they pay heavily into Harry Reids's campaign. so they wont be touched.
Americans can see the price at the pump more than they can see Obama's excuses. He will be blamed regardless. The average American is more concerned with what he pays than hearing excuses. That is political reality.
Stephen Moore is living inside the Republican bubble. Anyone that thinks that the President of the USA tells the world markets what the price of oil will be is living inside of a bubble insulated from reality. Any increase in domestic production of oil is a drop of in the bucket to world oil prices. Zakaria has it right. The only thing the President could do is to back off from Iran or magically create a booming world economy. Remember who tanked the world economy before Obama was sworn in? I do.
I can really see the liberal media at work. When Bush was in office, the media just keep publishing reports of people blaming Bush for the high price of gas. Esp. the candidate Obama in the 2008 election bashing Bush for the high gas price. Now there are so many reports saying that the high price of gas is not the fault of Obama and that he can't do anything about it. So where were the media saying that Bush was not to blame for the high gas price? Maybe the media should report how more supply of oil can help reduce the price of oil, which would help reduce the price of gas. Haven't anyone heard about supply and demand? I guess even Obama haven't heard of that since he refuse to allow more drillings.
Yeah, blame it on the liberal media. God forbid a conservative/Repub hold their leaders accountable for their BS.
I would hope that the media would be more neutral and report it the way it is, either negative or positive for both parties, instead of pushing their own views to the masses. I just pointing out how the media is bias towards one side esp. protecting President Obama and giving him a rock star treatment.
The only way to dramatically decrease prices is to nationalize the oil companies and take direct control of oil production. We could then sell gas at a greatly reduced price.
Love it! My thinking, too.
Don't know when you guys will ever learn. Regardless of subject, nothing is Obama's fault and 90 percent of what is wrong is Bush's fault. Obama was not elected to govern, he was elected to move us to socialism, to lie, and to entertain. And he is doing a good job on all of them.....
Typical GOP response – no rational argument, no facts and you completely ignore the issue.
Unfortunately Obama used high gas prices in 2008 against Bush and Hillary Clinton... What goes around comes around
Way more variables than what this article mentions. Number of refineries affect gas price, US demand affects gas prices, world demand affects gas prices, just to name a few. Fact is, the number of refineries is probably still low so production is limited. US demand is down, but global demand is high. US gas companies are keeping the supply down by EXPORTING for higher profits. There are definitely geopolitical influences on the price of gas, but let's face it, gas companies, like all corporations, are only looking to make as much profit as they can. If you think those companies actually care about US citizens, I hate to break it to you, but you're being played.
Should say: US gas companies are keeping the US supply down...
Fareed must be lobbying for a job if Obama gets re-elected. I've never seen such pandering from a so-called jouranlist in my life.
Really? How is it pandering to point out the facts? That the price of oil is being driven by Asian demand and by Israel threatening to bomb Iran? That we're ALREADY exporting oil - rather than keeping it here, to reduce prices - and still the price of oil keeps rising?
I'd agree with one thing - Obama can lower the price of oil. All he has to do is tell Netanyahu that he's on his own.
The real strategy behind oil should be to minimize US drilling and import all the oil we can. Use up all the oil in the world except the US deposits. With only the US having any oil deposits at some future date, the US will rule the world. At that time, the US can keep all of its oil to itself and not export/share on drop with any other country.
Matt Houston's post of Fox video is fantastic. Here is the GOP channel going on about how the president can't do anything about gas prices – of course that was Bush. Now the Repubs are using this against Obama. They are both morally and intellectually bankrupt. How sad.
My guess is these same blowhard republicans that blame Obama for gas prices now, weren't blaming Bush in July of 2008, when gas prices were even HIGHER than now.
Yes Jack, and the same blowhard democrats were squealing at Bush are also full of it. Don't you get it? This bickering is what DC counts on. They spend trillions, do nothing for the average citizen, enrich themselves, and we complain about gas prices. They've won and we are idiots.
Fareed you are a spineless mouthpiece for Obama. I hope Romney never stoops to this level when he is President.
Yeah, Romney's got spine. Mr. "I was for abortion before I was against it." Mr. "I was for universal health care mandates before I was against them."
As if a guy who can bet $10,000 for the heck of it cares what the price of gas is.
The current office holder is also a millionaire, and also is doing nothing about gas prices. So what exactly is your point? That Obama and Romney are the same? On that you would be more correct than wrong.
Unless we establish an independent 3rd party, we are done as a nation, as Dems and Reps have sold us down the river.
Where's all their profit money from the past 60 years.....this gas game is getting real old, and any news about Israel and the middle east......these countries the size of a regular American city are controlling us, no navy,no nothin and we keep kissing their ast.....when we were in Iraq we should of taken over the oil fields.....I'm sick of hearing about the trashy middle eastern countries and gas prices.......Obama you inheirted a mess, but you have no wobbles or solutions either
The US has not built an oil refinery since 1967. A single refinery is coming on stream in North Dakota. Two SUNOCO and CONOCO refineries are being closed in Pennsylvania due to refining losses. Steven Moore is an economist with right wing leanings. He is not a chemical or petroleum engineer and frankly is clueless about the world energy market. The US can drill in every state and quadruple our production, but with a static or declining refinery capacity. it will not affect the price of a refined fuels, gasoline and diesel in the US market. Thats the way it is. If the Iran/Israeli threat should be solved, the global oil prices would decline and factor out the potential closure of the Strait of Hormuz. It is called a "Strait" but the it is actually two deep, three mile wide channels to accommodate inbound and outbound tankers from Kuwait, Saudi Arabia, UAE, Iran and Iraq transport about 20% of the world's oil and 35% of the seaborne oil commerce. It is significant. A closure by Iran would escalate world oil prices immediately.
The GOP will always yell and scream that it is the president's fault gas prices are so high and going higher. At least they will as long as the president in office is a Democrat and not a Republican. If the president in office is a Republican, they will whimper and whine that it isn't the president's fault and there really isn't anything (s)he can do about it.
Dramatically increasing domestic oil production does two things not mentioned
1) It creates jobs in the energy sector.. good paying jobs. Western Canada is booming right now, in DESPERATE need of workers in a variety of natural resources industries. Young men and women can find opportunities in Western Canada that exist nowhere else because they are developing their resources.
2) As domestic oil production increases, it reduces the power of OPEC, which is working together to keep the price of oil extremely high. Also since OPEC members are largely in regions of the world where politics is not stable, those events effect OPEC prices.
Fareed and Obama Lovers in the Mainstream Media:
1) Obama is the cause of any good economic news
2) If it's bad news it's either George W. Bush's fault or the fault of the GOP (who control just half of Congress).
Conservatives, help me out here. Do I understand this correctly?
1. Apparently the Liberal-Socialist-Communist-Neo-Con media is in a conspiracy to make Ron Paul look bad.
2. At the same time, the Liberal-Socialist-Communist-Libertarian media is in a conspiracy to make Gingrich and Romney look bad.
3. Simultaneously the Liberal-Socialist-Communist-Satanic media is in a conspiracy to make Santorum look bad.
4. You can only trust Fox News to tell the truth.
Go back to India Mr. Company man....down with CNN , most of their high paying jobs go to foreigners..pierce, this guy that wrote this article and sun jay.....boycott cnn.....they could lower the gas prices with some of our leaders got tuff with them.....everything is upside down now, no common sense....money, mo ey, money...I!m sick of hearing about gas and the middle east...24/7 news...what a bummer..
Apparently, Fareed Zakaria can write better than you, which is why he's got a high-paying job and you don't.
I love how someone says that Obama is not to blame for rising prices. Iran threatened to cloed the Strait, Obama responds with war like words, Iran responds to the response he gave. OPEC in the mean time is NOT raising oil prixes, fact is you have people in Saudi that say oil should not be over 60 bucks a barrell, that is the OPEC price btw, OPEC has not changed the price of a barrell in 6 years, they do not need to, we allow speculators to do that for them. Speculators know we have a president that is against oil, that alone is responsable for a 50% increase in price. Then you add in Obama threatening Iran, well you add another 25% because of that. 75% of the increase in oil priced are all on Obama. Now he wants to cut the subsidies that have kept our prices low for years. Without the subsidies we will be looking at 8 dollars a gallon very quickly. That means Obama will be responsable for over 5 dollars iin increase at the pumps.
Netanyahu, not Obama is threatening Iran. Don't try to confuse things.
Obama threatened Iran when iran said they would close the strait. Isreal is threatening them over nuclear weapons.
And why did they threaten to close the straits? Because of Israel's threat.
The Obama administration is relying on a secret channel of communication to warn Iran’s supreme leader, Ayatollah Ali Khamenei, that closing the Strait of Hormuz is a “red line” that would provoke an American response, according to United States government officials. thats from NYTimes jan 12 2012. Isreal threatened Iran AFTER that
Sparky ... you need to get your head out of Obama's butt. Heck I worked on his campaign in 2008, there is no way in hell I will vote for the lieing SOB now. All he told us was a bunch of lies. It is his policies that is driving the price of gas up, there are no ifs ands or buts about it, heck the OPEC nations have even said that. This man is a cronic liar, I wasted my vote in 2008.
www dot christianpost dot com "Israel Threatens an Attack on Iran" November 3, 2011.
I do believe that's BEFORE Jan 12, 2012, unless you'd like to convince me otherwise.
It makes no sense for a President burdened by two dragging wars to start an even bigger third one. Obama and most sane people want nothing more than all of this to go away.
But hey, if you can't win the argument, go ahead with the ad hominem attacks.
Americans want government controlled, socialized, gas prices but not government controlled, socialized, healthcare. Go figure.
Two reasons to dramatically increase domestic oil and gas production?
1) Energy sector jobs are really good jobs. Young men and women need those jobs. Look at booming western Canada. Unemployed or underemployed young americans should be flocking there. They have virtually 0% unemployment and are willing to train newcomers. Nowhere else in Canada or the USA does that opportunity exist.
2) Increasing domestic oil production doesn't just increase supply by a small amount, it reduces the % produces and controlled by OPEC. The more oil produces outside of OPEC the better. Their political problems and their greed has made it hard to bring down the price of oil. There is far more of a spin off effect then just increasing supply.
Thats fine Zakaria by the way Obama may have to sanction India soon.....
Now back to the Oil business of course its the multi billion dollar corporations they know that people who can't pay for gas are still going to go out and buy gas right??? They wanna lose dollars right??? Lets be honest Mr Regulator as I have to call him now since he has reigned over the most liberal socialistic government expansion of power since probably Woodrow Wilson or FDR you know two gentlemen who started this deficit spending coma that we seem to live in!
It's simple Obama should nationalize the oil and gas industries and set a price at $2/gallon. Oh no! That would be against the free market! That free market which has driven the price up so high. Quit whining and ride a bike.
What is it with Republicans' utter disdain for reality? If there's something they don't like, well, then just fantasize something that is more palatable. Most normal people give up on this approach by the time they enter third grade when it becomes clear that fantasizing something does not make it real. Are we really not supposed to notice that they have all been bought and paid for by the oil industry and Wall Street speculators??
Gasoline price aside, if we can extract more oil from our own land, that would make us energy independent and maybe, just maybe, we would not have to spend so much energy on the Middle East. This reason alone, should be good enough to drill for more oil. Obama needs to allow us to become independent of Middle East oil. Yes, meanwhile, work on alternative fuels.
The problem with that is that when we extract oil from our own land, we sell it to the rest of the world. You'd have to take over all the oil companies and force them to sell whatever they drilled here to Americans only.
Good luck getting that to work. Nationalizing oil is the kind of thing banana republic dictatorships do. Then what happens is that the government officials skim off the profits and start selling to the rest of the world anyway, because that's where the money is.
Face it, there is no "homegrown drilling" solution.
What about removing the taxes from gasoline? That is something that can be done right now.
This comment section turned nasty.
Stop complaining. We have been paying 4.75 a gallon up here in Canada, and may European countries are much higher than that. 3.80 / gallon is a bargain.
As usual, the Republican propaganda machine prostrates itself to vilify Obama for every single problem our nation has, regardless of how far fetched it may be. At the same time, they are quick to give him no credit for any progress or positive changes. It's a simple equation, really; any problem = Obama's fault. Any progress or gain = Obama had nothing to do with it.
As is often the case, Fareed Zakaria does not have his facts straight. We are definitely NOT exporting more oil than we are importing ... in fact, we are importing about half of our crude oil, which is more than in the 1970s. We are simply exporting more refined petroleum products, including gasoline, for a lot of different reasons.
I agree that the price of oil is determined by a lot of factors, but if Obama would simply tell the nations of the middle east that we are not going to get involved in their affairs, the price of oil would surely fall by at least 25%. So, it that sense, the actual wars he has engaged in (like Libya, whose production and refining are way off) and his talk of future wars (with Syria and Iran) have definitely raised the price of oil. One of the reasons I am not voting for Obama this time is that instead of Truman's statement that the "buck stops here", Obama is keeps trying to "pass the buck"!
If Bush was President Mr. Zakaria YOU and the rest of the LIBERAL press would have blamed him for the spike of the price of GAS. But NOOOOOO, President Obama has NOTHING to do with the OIL CRISIS. Please Mr. Zakaria answer me these 2 questions a) What about restarting the drilling in the Gulf of Mexico that has hardy begun or increasing the drilling of OIL in our continental plattaform 2) What about the Keystone Pipeline project from Canada to Cushing that our President and part of the Democratic Senate has blocked even after 3 years of study by our Enviromental Agency that has found it safe the route that was proposed. Didn't he blocked the pipeline just to get the vote of the enviromentalists in our country. Please Mr. Zakaria before you open your mouth be honest and don't spin things like the rest of the LIBERAL MEDIA that want President Obama reelected.
People are always looking for someone to blame, I thought that's why we elected presidents to begin with.
KILL OBOMA!
people that think obama has nothing to do with rise in gas prices live with head in the sand, he is in partnership with rag heads in the middle east getting rich off us ,,,, he is a crook of the biggest kind he needs to back over there say hes sorry some to them
assassinate Oboma!
you had best watch your mouth NET&YAHU........you will have late night visitation from the government boys,[if you know what i am saying]. i would guess that they watch these sites to see who the crazies are.
Zakaria , you are a joke. We know your history as an Obama priest, and your "analysis" is really a paid political announcement. So go home and try your covert " news making" in India.
Ouch! But a valid point that his "Opinion Articles" are hardly vetted news
Obama called Bush unpatriotic for the debt acquired during his presidency over 8 years. Obama has almost doubled what Bush's debt was in 4 years. So does that make Obama unpatriotic ???????????
No. Being a Democrat makes him unpatriotic.
So, when gas was even higher than this in July of 2008, where all of these pitchfork-waving republicans blaming BUSH?!
The Liberals are right!!! It IS NOT Obama's doing, it is OBAMA'S POLICIES DOING. Don't blame hime, Just blame all of his terrible idea's that he enacted!
Here is the more important question: if gas prices were to drop, would Obama take credit??? You bet your ass he would!!
Obama? You mean the point man for SEAL team 6 in the Bin Laden raid? Nah. He wouldn't want to take credit for something he didn't actually do. He's very modest.
@Reagon80: There is a reason why he is a "President" and not the "SEAL" that took Osama out. He made the final decision to take Osama out, and if you are expecting a leader (Commander-in-chief) to actually go in and do what SEALS did: I pity your level of knowledge.
Call me a simpleton if you'd like. But I hear where the mere MENTION of oil reserves being utilized drove prices down until huff n puff Obama said "no way!". Sure, I would like to own a Prius or some other alternative drive! But when it takes over 50$ to fill my 9 year old little Saturn – I hardly any leeway to go out and mortgage my future on barack's ideals! The man in crazy! Take all of our money to get to work and back and then expect the average American to have money to buy his algea fueled cars? Can you say it loud enough: "NOT IN TOUCH" !!!!
I wouldn't call you a simpleton. I'd call you a clear thinker who has obviously never voted for a Democrat in his life.
... of course not.
Repeat after me:
"Everything that has happened that has been positive since Obama took office is because of him. Everything that has happened that is negative is in spite of him."
CNN should get rid of this guy and his biased and political articles. He is nothing more than a lackey of Obama and the Democratic Party. The pipline from Canada was a good thing for Canada, for the US for our workers and our entire economy. It would have reduced gas prices. Obama stopped it, he is responsible for higher gas prices. He does have influence on the market for gas. Zakaria is a prejudiced intellectual puppet and lackey, doing his job, but should be treated as such
Anyone with common sense and without left-leaning political biases LIKES this comment!
Just one more thing Oblahma hasn't done for this country...4 years of empty promises......but at least he got a Nobel Prize.....
Which he never should have gotten.
Zakaria, you can be so wrong sometimes. Where does the buck stop, where have the use of executive powers been? Where is leadership that would enhance a broad range effort at recovery? Why is it that gasoline is America's number one export ? What happened to the free market, and serving the American people. What we are seeing is a failure of leadership and action......and you just close your eyes to it.
Hey Zakaria, thanks for your weekly "I love Obama and you should too" pitch. Reminds me of the book I'm reading, got it from the DNC bookstore :"Facts, how to ignore them and make up stuff to boost your weak argument in 3 easy steps". I figured it was required reading before I got this next book "It's not our fault! How to blame Bush for anything in 3 easy steps".
Well, I blame Obama, certainly! It is not just the Republicans. THis IS his fault, and I can tell you why: 1. If we had gone ahead and started drilling in ANWAR back four years ago, we would have a surplus now. Obama refused. 2. The price of oil is based on the dollar. As our value of the dollar continues to diminish, and our debt is DOUBLED under this president, then the price of oil goes up based on a weak dollar. 3. Obama tells us that oil production is at an all time high, and yet he does not tell us the ENTIRE truth. Federal land use for oil is off by as much as 30%. Why? Gulf oil permits are still down because of the oil spill. Offshore drilling is WAY down. Oil shade lands are not being given permitting. 4. As much as we want the next energy source, natural gas is not being considered a viable market. Why? We have more natural gas than the arabs have oil. Let's use natural gas to power cars and trucks until a greener energy source become available.
You see, Obama tells us "All options are on the table", and yet the table is the only place most of them sit. Obama has the power to adjust prices by making decisions to increase supply, and to increase natural gas resources as the "next fuel". But, he won't, because he would rather pander to the extremists of his party...
Maybe all you good Christians could ask Jesus to bring you some cheap gas.
You, I think, should learn to respect other people - even if they are Christians. Are you a Muslim, it sounds like it because of the hatred that radiates from your writing.
Having looked at a lot of the comments, everyone reading this junk should realize that Zakaria is just milking the public and me, and you, for time and energy so he can keep making money. When he gives up his income, truly becomes a voice for real people, instead of his political party allies and friends, then maybe he could earn some respect. This whole CNN thing is a joke, he is a joke.
What a joke. Obama called Bush unpatriotic for the debt acquired during his presidency over 8 years. Obama has almost doubled what Bush's debt was in 4 years. So does that make Obama unpatriotic ???????????
No, it makes him a crappy President. I never thought anyone would make Jimmy Carter's presidency look good by comparison but he's sure trying.
No, it makes you look foolish.
http://money.cnn.com/2012/03/16/news/economy/obama-budget/index.htm?source=cnn_bin
$6.4T in new debt...
Wow only $6.4T in new debt. So only the grandkids of our grandkids are screwed now instead of their grandkids too. Sorry if I'm not impressed.
Add that to the massive debt Obamanation has already rung up and this country is royally screwed.
The statement that Obama is not responsible for the price of gas is totally 100% correct, but you also have to say that he has done absolutely nothing to stop the rise or have it corrected. Two things he could sign an executive order and correct the problem and ensure that the economy does not do another catistrophic fall. The first is to open up the stagegic oil reserve that we hold in the USA. That in itself will stop the rise and probalby start to push it back. The reason Gas and oil is so high is not the Oil Producing countries, it is the speculators that are making a killing on the market. We are headed for another 1930's Crash if this nonsince does not stop. Obama could order the Oil be take off the comodities market and the price will drop not by cents, nickles, dimes, or quarter per gallon, it will drop by dollars. One must also remember that there is a huge tax on Gas that is sold at gas stations. Perhaps all the gas stations should start posting the tax per gallon, or put how much you paid in tax as well as the total price of the gas and the total purchase. No matter how you look at it we as a nation are dependent on oil and gas. These electric cars are priced way out of line, and not safe, and will not last without $7000 to $15,000 worth of new batteries ever 5 to 7 years, just like your current auto battery.
So back to the problem, high prices of what ever, guess who drove the prices up and who is controlling them today, your elected officials either directly, or through the use of legislation that supports high prices so they can get their political kickbacks.
If Jesus doesn't bring you cheap gas, he must not want you to have cheap gas. And if he doesn't want you to have cheap gas, it wouldn't be right to complain about it.
What does that jesus comment have to do with anything?
Obama has been a whale of a president, no one blows as much as him!
We produce enough oil up here in Canada to fulfil all our domestic needs and still able to export. Why is it then that we are paying $ 5.60 a gallon for regular? You americans have it easy because you do not have the level of government taxes on gasoline that we do. Stop whining and get on with developing alternative energy sources and while you are at it, stop rocking the boat by causing geo-political instability by toning down your political rhetoric.
Enjoy your left wing country and keep your nose out of our business.
Stay in Canada then, don't move here. Your love and respect for Canada is great. Good. Good bye.
i dont give a ratzazz who is behind the fuel price ripoff,i would not vote for this loser for any reason.
Obama is absolutely to blame for the current gas prices. The price of oil is based on futures, and Obama's energy policies the past three years have done nothing but strike fear into the hearts of traders who expect demand to continue rising globally while supply will surely be curtailed due to Obama's resistance to open more lands for drilling. Scarcity drives up prices. Obama claims that we have more production than ever before but that's soley due to the energy efforts of the previous Bush administration.
you could be Bushes Lewinsky... that hate must be really deep.
For the last 30 years the Democrats have blocked oil drilling with lame excuse that it wouldn't produce more oil next week. In the words of Jeremiah Wright, their "chickens have come home to roost".
Zakaria is such a tool. We all know this article would never have even been considered if a Republican was in the White House.
Obama veto the Keystone pipeline will have longer term effect. The veto is just a retaliate againt republican law makers. It has nothing to do with his policies.
It's not the government (in the US) that fixes the price of gas, it's the oil companies. They made record profits last year. Why do they have the price high? Because they don't like Obama, and the Republicans can use high gas prices as a talking point against him. Farheed hasn't thought of this, that's obvious. He's his usual clueless self in this interview.
Wastrel, you are a child at all this. The oil companies have been making profits under all administrations since oil was first made important. Obama is against developing our national resources as a political maneuver to gain votes from the college and younger people who are totally controlled by their fear of an environmental crisis. He plays on those fears, while causiing and buliding them. Sorry, he is is problem, not the solution.
You obviously don't have an education or have ever taken a basic Economics course. A producer of virtually any good can't just raise prices without affecting demand. They may get more per unit but people will consume less and therefor the producers will make less money.
CNN, why not bring on some oil analysts rather than an economics writer to talk about the supply/demand aspect of oil. Surely we can dig deeper than this little parley.
Zakaria nailed Moore on this. NAILED him.
A lot of Americans are really getting sick of republicans' twisted truths and propaganda.
BHPT - you need help, with thinking. Zakaria did not "nail" anyone, except his poor lackey to Obama and the Democrats self. He is trying to influence the issue, the arguments, the press, and ultimatley the election with is trite talk. What these comments show is that people are really sick of democrats twisted truths, propoganda and control of the media ... much like what happened in Germany in the last century.
Read your comment. Your accusations could be tweaked a bit and apply to the current crop of GOP leaders/contenders. Blame the current price increases on unrest in Middle East...who caused the unrest, that would be Bush. Now, the GOP leadership (sic) wants to increase the tensions even more by calling for bombing of more Middle Eastern countries. Gee, could it be so they can push for more oil drilling in North America, perhaps to aid and abet their partners in the oil industry? Sheesh, oil prices fluctuate. It happened under Bush, rising prices occuring most years he was in office. The '70's was due to an oil embargo resulting from Nixon's (GOP) support of Israel and the Yom Kippur War.
Fact is it takes 5 years to go from permit to production of an oil well, so Obama has nothing to do with any increase in production.
Monkey Boy does not know what to do. One and done for this empty suit. He and his radical man-wife need to hit the road and start their endless 'speaking engagements' and join Jimmy as one of the worst presidents this nation has seen.
Boy, your reasonable and source driven comment sure changes a lot of minds. BTW, how does insulting anyone go any good for your 'cause'? Take your AK-47, barricade your doors and try not to influence other self-inflicted ignorant soldiers of the right. Wait, what's that??? It's santorum and romney toasting the fact they still have ability to fool and use the paranoid and ignorant.
Why is no one talking about the Government creating (printing) currency? This has driven down the value of the dollar and driven up the price of everything. It's not just gas or oil but food too. A gallon of OJ costs over $6 now.
The mean spirited right wingers hope that gas goes up to ten bucks a gallon if they thought it would help defeat Obama. They have become so hateful that they have proven they hope the country fails under Obamas watch. They hoped the stimulas would fail, cheered when we didnt get the olympics, didnt want america to pay its debts and on and on. Its turning into a disgrace on their part. Lord help us.
What appears to be true on this chat service is that the Democrats are in a minority trying to back up Zakaria. That surprises me, but even more, the silliness of the Democrat arguments gives way their inability to grasp the reality of gas prices, the world, or how bad Obama is.
It's about time Mr Obama and his Administration take responsibility for their shortcomings and stop blaming others when they fail.
More propaganda selling Obama. I'm getting sick of it. Fareed, you and Ali should get together and sing the Al Green song to him.
I'm in the business and it just ticks me off full measure to hear this. It is a blind outrage to me when anyone says that "it's a globl market and there is nothing we can do" "It's those danged speculators!" Oh! I'm ready to call you guys up and TELL YOU the energy panel you should have on your show just to get some truth to this thing.
Comments on this board (articles by FZ) used to be all intelligent whether you agreed with them or not. Now, apart for some exceptions, it's down to the same level as all the other boards...
Ah well, I guess stupidity is infectious!
If Obama were not responsible......ha ha ha – he claims there is more oil being done now than when he took office. WRONG! He is only in charge of the Federal level and that is down over 40% due to this Administration.
He says lease sales are up to $256M fro $213M....but this is down form Bush's last year of...GET THIS...9.4 BILLION...Yes, that's the fact..
the American taxpayer collected 258 TIMES less money from sales of oil leases last year than under Bush's last year.
From the ONRR (Office of Natural Resources Revenue)http://www.onrr.gov/ONRRWebSta...
From the BLM (Bureau of Land Management) http://www.blm.gov/pgdata/etc/...
2008: $9,480,806,6202009: $1,181,075,4912010: $979,569,2942011: $36,751,111
"the number of leases issued in 2010 were at the lowest level since the bureau started publishing the data"
Deep water permits in the Gulf are being issued at less than half the rate of pre-moratorium levels, and shallow water permits are down 40 percent.
Of course he is going to say it is not the Presidents fault. He is backing Obama for another term. All liberals shy away from accepting responsibility for everything.
Also – check to see who we import the most oil from ----Canada! We need to become self sufficient.
Don't all Muslims stick together?
One thing seems to be missing from this debate. Regardless of who is in charge, oil is a finite resource and maybe we should think about leaving a little for our grandchildren rather than debate how we can best pull out the remaining product as quickly as possible. I really do not want to leave those kiddos a depleted planet. There are about 7 billion of us now, and that's a lot of folks. 7 billion people can suck this planet dry. Bummer. But this is missing from the debate, we will not change our behaivor and we will not be here to see the consequences.
Isn't it interesting how people born in other countries come to the immigrate to the United States and then become self appointed experts telling Americans how to live and how the United States should be run. Maybe if Fareed should realize that the people of the United States do not want a socialist country and if he does then he should look elsewhere for one. The reason Fareed is so defensive on issues regarding Obama is that they both are Muslims.
What's wrong with being Muslim? Or Christian? Doesn't make you stupid... does it?
And ironically are too dumb to realize that by espousing Republican values (greed and self-interest), they aren't even really Christians...
Are you really that stupid???
@Bruce..thank you sir...I am reposting your comment! People have no idea how deep the republicans leaders are in the oil companies pockets..
Bruce
YOu can explain all that you want and you'd still be wrong. Oil is a world-wide commodity. It doesn't matter where it's produced,, the price is set on a world-wide scale. THe oil companies and GOP are in bed together. OVer time, oil prices must increase since the supply is going down and worldwide usage is going up. THe oil companies have been filling the airwaves with propaganda. Drilling will help the oil companies to make more money. It will not lower the price. THe oil companies do not like Obama since he's only for the USA and not Big Oil. That's treason in GOP circles.
March 17, 2012 at 2:35 pm |
Jeez, you people are infinitely more ignorant than I thought. You pull stats out of your azz that are false or make no sense, you blame this president or that president. You are exactly what the GOP/TP hopes you are – an illiterate, unlearned electorate. Since most of you sound like you never made it past the 5th grade with all of the namecalling, this will be lost on you. It is not a policy, it is not a person. Try these – supply and demand; US lack of alternative energy resources; instability in the middle east; US ranking in consumption; wars; SPECULATORS, SPECULATORS, SPECULATORS!!! That's your homework. Come back with some intelligence and knowledge. Otherwise all you are doing is BLAH, BLAH, BLAH!
You are a typical liberal, calling the kettle black when you are the pot or on it. Read your own post, it is silly. You cite no facts or stats, you show no knowledge of the issues but you blow off steam about how other people sound or talk You are a thought control freak, a person who aspires to monitor others talk like in Orwell's 1984 - so your own potential idiocy or idiocies will never be disclosed or be at issue while you attempt to pontificate. Go away, is my first thought of a simple response, and get a life and brain.
learn to read, all she/he said was that people were posting stupid comments based on non-facts. How does that make that person a liberal or conservative for that matter?
bunch of idiots! everyone just point the finger.. he did this, he did that.. the way i see it, you all are part of the problem, not the solution.. get a life and take responsibility for your own misery..
That comment you made is probaly one of the least literate and unworthy of response, but for that reason here is one: you are a baloney artist wasting people's time.
Presidents set foreign policy which DOES impact crude oil prices. This President is actively preventing a new pipeline from Canada to the U.S. Gulf coast refineries. This WILL impact gas prices in the future.
Doesn't Zakaria ever tire from the taste of Obama in his mouth when he wakes up every day?
Fareed –
Your credibility flew out the window when you stated the US is now exporting oil. It is not, last year it was a net exporter of REFINED petroleum products and the oil that was refined didn't come entirely from the US. Big difference.
I love how CNN puts up, then immediately removes comments that fly in the face of multi-billion dollar profit oil corporations.
Zakaria has been a former advisor to Obama. The world knows where his loyalty lies. He is essentially a mouth peice of the current administration. There should be a disclaimer or rather a claimer in the end of each of his article by Obama. 'I am Barak Obama and I approve this article"
there should be a button to press each time you post that says STFU..
Thank you Bob. I am so happy to see that people are in agreement that Zakaria is a stooge for Obama and by using him CNN proves themselves to be the same. I think it is time to start a movement to get people to not go to CNN, not go to Zakaria's idiotic propoganda and hate posts, in effect, and start letting it die on the vine.
come on dude u belong to fox anyway!
@hmmmm:: are you BO or FZ ? about STFU, so should have ur mom before popping u out
Republicans are pandering in 2012 like Democrats pandered in 2008. The only difference is that you won't hear any criticism of Obama, Democrats or liberals from Fareed. When is Fareed going to move to MSNBC?
Nothing is ever Obama's fault. Everything is George W's fault.
Must be wonderful to be able to blame someone else for everything that goes wrong.
isn't that what u do?
The comments by hmmmn have the same flavor, that person does not care what anybody else thinks or feels and does not respond to any serious thought. They are what their name shows ... just a noise, like hmmmn ... but lacking any significance at all.
Matt Houston thank you for that FOX VIDEO. Now what will the GOPers and Obama haters say and do? NOTHING, they do not believe in reality or what they said last week. During the Bush Administration I repeatedly told people ... "when you put oil men in the White House, what did you expect to happen?" What the GOP zombies try and ignore is the fact that U.S. oil and gas production is rising and U.S. fuel imports are dropping. The combination of horizontal drilling with hydraulic fracturing of shale and other low-permeability rocks has opened up large reserves of oil and natural gas to production. The result, U.S. oil production has risen significantly over the past three years, reversing a decline over decades, while natural gas production has exploded. With natural gas prices dropping along with rising oil production and a sharp fall in import dependence we haven’t stopped gasoline prices from rising toward and past $4 a gallon. Oil prices are up because of rising demand from China and other emerging economies, and more recently because of war scares in the Middle East (bomb, bomb Iran). In addition, before most people were even aware there was an economic crisis, investment managers abandoned failing mortgage-backed securities (DERIVATIVES) and looked for other lucrative investments. What they settled on was oil futures and that is why the price of Gas is approaching $5 Dollars a gallon, Which also affects the price of FOOD (which will be the next speculative bubble)!
It's called the "Free Market" ,,,,,,,, how's that working out for you?
Whether or not there is more or less oil, whether or not there is foreign demand - your argument leads to only one conclusion which you appear to accept - we should not have a free market. We should have state owned and controlled oil under state controlled prices, which is where Obama wants to go. You hate the free market, as does your puppet Zakaria. I will bet you have never done a job where you produce anything but paper. As with Zakaria. You are all selling out this country, our lives and our freedoms because you have nowhere else to go - if you did you would, because you have no love or allegiance to this country or care for its working and rich people. both.
Stephen is a stupid dumb dumb face.
Of course it isn't obama's doing, nothing ever is in the mind of a liberal, and we all know liberalism is a mental disorder. Go research obama placing moratorium's on our wells. Then research how he flew to other countries and told them that they can drill where we can not, and that we will purchase oil from them. This happened last year. The truth shall set you free if you only allow it too.
Of course Obama could get gas prices down. The same speculative market forces that are pushing it up will push it down if Obama were to allow drilling today. I love how libs want it both ways. They want to blame speculators for the prices yet are unwilling to take any responsibility for the policies speculators use to make their projections. Sorry Mr. President you can't have your cake and eat it too. If you'd take a little responsibility for the office the people elected you to this wouldn't have been a problem in the first place.
All the FauxNews pundits were arguing vehemently that gas prices were not the responsibility of the president - back in 2008 when Bush was in office. The Media Matters web site has a wonderful clip of them all fighting hard on Bush's behalf. Of course, it seems that FauxNews has contracted Alzheimer’s since then and can't seem to do anything but try and blame Obama for the price of gas. That's apparently FauxNews' idea of "fair and balanced".
and if you think any of the other "news" outlets in this country are any better than FOXNews then you're the one that's ignorant. They're all bad, they all speak from memos, press releases, and with an agenda. Don't be ignorant.
Keith - what is the point of your comment? Is it that FOX news is bad? Why do you bother saying that on CNN's chat place? Do you have a problem? Why is it not entirely possible that George Bush was in a different position than Obama. Your childish, liberal logic shuts out and cannot handle such simple reasoning. You should study and think, before you write - or just admit you are an Obam hack like Zak boy.
Then they weren't Bush's doing either. Can't go both ways chief.
he never said they were, you just put words in his mouth.
Obama fired on Ft. Sumter to start the civil war, he bombed pearl harbor, he deregulated Wall St. to allow the Great Recession to take hold. Oil prices must be his fault too
Cute. No cigar. Being mindless and making comments is all that is left for those that support Obama.
"making comments" haha, yeah.. i just go around all day making comments about everything all day. think before you do anything.
Well, that "algae as an alternative fuel" idea Obama is proposing sure sounds like a winner, doesn't it? THAT'S his best suggestion in all of this. Absolutely laughable. Barack Obama is truly the worst President in the history of the United States, bar none.
do you remember Bush?
gas prices were higher under Bush adjusted for inflation. what was his plan? did you complain about him? i doubt it. get out of your partisan hole. by your logic, he was the worst president.
Or, if you knew anything about it at all other than the silly-sounding name, you'd realize it's actually quite promising as a source of renewable, portable chemical energy with nearly 0 net carbon emissions.
http://lmgtfy.com/?q=algae+fuel
President Obama keeps on about nice clean, green electric cars. He forgot that the electricity to run his "green" cars is produced by burning COAL – a truly filthy fossil fuel.
What a sea change: Not so long ago–June 4, 2008, to be exact–then Presidential candidate Obama said, and I quote, "This was the moment when the rise of the oceans began to slow . . . " And, now, the President is unable to control "prices at the pump?" Disappointed yet again!
Preaching to the choir by saying the obvious on CNN: the president doesn't control gas prices. You guys need to break into the Republican bubble somehow and inform the people whose minds are enslaved by Fox News.
Reblogged this on Outspoken and commented:
We give our presidents, Democrat or Republican, WAY too much credit as far as the markets and gas prices... And that goes for both positive and negative. No, my dear Republican friends, these rising gas prices are not caused by just President Barack Obama, anymore than the slight economic recovery can be attributed to just him, and him alone.
And neither Newt Gingrich, nor Rick Santorum, nor Mitt Romney, nor Ron Paul can alone somehow bring down the prices just with the snap of a finger.
But go ahead, believe the pandering, vote for the anti-Obama (because honestly, that's all any of these GOP candidates have going for them – they're not Obama, and that's all that matters to a large chunk of GOP voters) and see the gas market continue to dictate what you're paying at the pump depending on the global economy, outlooks and geopolitics.
Obama promised a lot of change when he ran for president, and one could say a lot of people "fell for" things that no one man could deliver on his own – think about this as you consider Gingrich's promises for $2.50/gallon gas. You might be quite unpleasantly surprised.
His watch-His problem-his fault...same as the massacre in Afghanistan and in Texas happened on his watch- his watch his problem-his fault...he's the commander in chief and when he was running for president he did say..".when I am President the buck stops here."...well the buck has done stopped!
... That makes a whole lot of nonsense. Sorry.
His watch, yes. His problem? Certainly, because it's one of the things people judge the president's performance on and it might screw up his bid for re-election. But his fault? Okay.
So it's his fault that THE SOLDIER had a bout of temporary insanity and THE SOLDIER killed villagers. Yes, I'm sure he was brainwashed to do so by the Obama administration because the president LOVES a P.R. nightmare like this especially given the rising opposition in both the U.S. and Afghanistan to continued American presence there. Yes, he WANTED all those people dead and the U.S. forces' image among the Afghans tarnished further.
And yes, the guy that killed people in Texas, that's all Obama's fault, too – had NOTHING to do with the MAN PULLING THE TRIGGER.
Why stop there?
Let's go for the spate of teen suicides last year due to bullying. We all know Obama was in those classrooms leading the pack of vultures that drove those kids to killing themselves.
Are you serious? Come on.
It's like Obama taking a lot of credit for that mission that found and killed Osama bin Laden. I support Obama strongly, myself, but even I thought in his speech after news broke of the mission that he was taking way too much credit and giving himself way too big a pat on the back for it.
Like I said in my post, we give presidents way too much credit – for better and for worse – than sometimes they actually should get for certain things.
Your reply, sorry, made no sense whatsoever. Let us know when you rejoin reality. Good luck with that.
The real issue here is our domestic oil policy. If we had allowed drilling 30 years ago and followed some of the recommendations of Boone Pickens with regards to natural gas alternatives, we would impact the global price of gas. It's insane that we pay extremists, who turn around and use what we pay them to launch terrorist campaigns against our country. When will we wake up and seek energy independence as a nation?
Republicans: Government should stay out of the marketplace
Less regulations, let the free market manage itself
End government handouts
People have to learn to stand on their own feet, not beg the government to make their life easier
Barack Obama should bring down the price of gas....hold it, What?
Perhaps being Canadian creates a mental challenge when it comes to understanding American issues? If you are confused read a bunch of the other comments here. Enjoy Canada, sell your oil to China to keep your taxes down up there. Stay warm.
The oil companies are cranking up the price of gas to influence voters. They want the Pro Corporation GOP to be there to increase their already obscene profits. Maybe they can shut down another refinery or two, for maintenance to create another shortage.
Why would Roosevelt have been the one to oversee the American Oil Company's occupation of the Middle East, if gas prices are somehow a Republican issue? Obama hurt the gas futures and supply when he killed the pipeline. End of story. That triggers both fundamentals and speculation in the markets. Get real, oil has been around under everyone from Franklin Roosevelt, through Kennedy and Johnson (from Texas) and Carter to Clinton. Clinton supported the pipeline. Obams chose to kill it to hurt America and the people to force them into his solar powered give aways and bribe ridden sector of the economy. He is a cheat and a liar.
Just when you think the GOP has hit rock bottom, they surprise you and sink even lower. But it's getting to the point where you can't blame Republican leaders. They're just politicians, and it's in their nature to mislead the gullible. And as they've proven again and again, their supports are the most clueless.
You are the person who appears to be clueless. Obama and the Democrats supporters are very much the people who cannot get a job or any job that requires a sufficent intellectual capacity to do more than normal functions. That does not make those people bad, but calling names and degrading other people because they do not support Obama is the common demoninator of the liberal, Democrat, Obama people. You actually are the prejudiced and classist group, not the Republicans who wish to help better people's lives and preserve their freedoms.
b davis – Your believes don't make you bad, they just make you ignorant. And unfortunately this country can no longer afford to suffer from ideological, uninformed voters like you. Your party is lying about gas prices because they have nothing positive to offer. Rather then holding them accountable, you simply parrot their BS. You're very sad.
I have here parroted nothing. Which shows how willing you are to mischaracterize the truth or facts and what people actually say. DJOHN is the one with the problem, thank you. I will take into consideration what you say, but what is obvious is that you have no self-critical or self-awareness capacity. It is, in fact, you who is prejudiced and cannot think other than as your are told. That is the key symptom or trait of the new "politically correct" nonsense, as spouted by people like Zakaria who proclaimed at first that we should intervene in Syria to make it like Yeman, Egypt and Libya - all failures - and then without any apology or retraction changes tune to talk about other things. Sorry, you are the one who is parroting what you have been taught to say - not me, and never.
Obama has publicly stated he believes the U.S. needs $8 gas. So like it or not CNN, this is what he wants and only because it's an election year is Obama not flip-flopping in the media.
"Obama has publicly stated he believes the U.S. needs $8 gas." No he didn't. The Energy Secretary said that years ago. Do you guys even read anything or just follow whatever Limbaugh says?
now before the bashers come in, i'm not a Dem, just sick of the lies and misinformation on both sides.
I don't think anyone will "bash" you. Those who are aware of the facts and the nature of the situation would really feel sorry for you, not want to bash you.
Fact, Obama said. " Under my administration energy costs will skyrocket."......One promise kept!
First, see the beannemarie ACTUAL quote of Obama down below - "Under my plan, ENERGY PRICES (gas is still a form of energy, no?) will necessarily skyrocket."
Second, when asked about high gas prices on CNBC, Obama said, "I think that I would have preferred a gradual adjustment." Notice there that he didn't DISDAIN high gas prices. He just wished their rise had been gradual.
Third, when your energy secretary blithers something before a congressional committee and reporters find quotes from that same guy from WAAAAAY back in 2008 about how we need to boost gas prices to European levels, and your press guy (Jay Carney) criticizes the media for "gotcha politics" instead of distancing from both the quote and the notion, what exactly is the difference, pray tell, between Chu's quote and Obama's actions?
I would really would like to see and hear that Obama wants $8 gasoline. Come on, what politician would publicly state that during an election year or at anytime. If you can site the publication and date of this quote, I would like to see it.
From reading these posts, you Americans are the most uninformed people on the planet. The economics of the oil market is not rocket science. It makes you wonder how you could have ever been considered the greatest nation on earth.
Can anybody explail to me why, wehn oil was $140/barrel, gas cost $3.50/gal while now that oil is @ less than $110/barrel, gas costs more than $3.50/gal? Taxes hardly rose.
EammonGil - you are using a computer, you are using the Internet, you are writing in English. Americans created the first and use the second. What are you complaining about? Why don't you try studying the issues on a Middle Eastern system? Tell us what country and culture you are from that is so much better.
Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.
Source: Bloomberg.com
His watch-His problem!
Yes, that would be true - "his watch, his problem" - if he were a conservative OR a Republican, but he's a liberal and a Democrat, so it's clearly NEVER his fault.
Again, Bush? His fault. Obama? Never his fault. Period.
Obama is clearly manipulating the price of oil to make a lot of money for his friends at Haliburton. At least, that's what the Dems said when oil prices rose while Bush was in office, wasn't it?
When gas was high under Bush, the left and many blamed him. Now that gas is high under Obummer, it's not his fault. If you blame one, you need to blame the other. If not you are just a piece of you know what. Some of the people on this board are really retarded. I'm not a repub or dem, just in the middle. No Obummer 2012 – He's destroying this country just like the others before him.
Zakaria is in the tank for Obama anyway, so nothing new here.
When he's not sucking a golf ball though a garden hose, Zakaria works full-time as an Obambi apologist. Anyone with half a brain knows that Obambi has his foot on the throat of the American energy sector, and world markets are responding to that by raising prices and cutting back production. His weakness in the Middle East adds to the instability of petro-economics. Vote Obambi out. The Obambi depression ends, oil prices plummet, unemployment goes to 5%, the National Debt will abate, the budget will balance, medical care will improve for everyone and the world will repect our greatness once again.
I know the prices are not set by Obama... I just hate the double standard !!! Go to youtube and enter clinton, ried etcc on gas prices, they all called for an investigation on Bush when the prices went above $4.00... now the prices are back up and the Dems say oh... it's cool, not our problem.. So I feel it's just the same thing at Obama.. grow up people it's just political games...
Just how angry are the loyal towards FOXNews (sic) for their reports that debunk the accusation against Obama? Don't believe the truth? Check O'Reilly and other's commentary for yourselve. It has to be pretty compelling if the mouthpieces for the right can't twist the round peg into the square hole. Yet, some of you will never accept a moderate, Black, educated, man who inherited an unwholesome mess.
Race has nothing to do with it..... the DEMS called to investigate Bush, but it's not Obamas fault... I don't think it is either, but the Dems thru it out there to Bush so here it comes back your way..
Hello from energy self-sufficient Canada.
So... A few folks in the good ole US of A are upset that they are paying $3.83 a gallon for unleaded gas. Why don't you all come for an extended visit north of the 49th parallel where you can pay $4.60 a gallon.
Don't know a Canadian driver who wouldn't swap gas pumps in a heart beat with any of the lower 48
Well send ya Obama,,, he will get em lower...
I find it hard to believe that the price of oil has remained so low for so long. It's pretty simple, if the price is down there'll be more demand an less inclination to look for alternatives. the price of oil should be 100 times greater than what it is currently, – oil prices don't even reflect the progressive inflation increase for the past 50 years, let alone the cost to this finite planet. Americans bleat about their way of life being questioned by other countries but seem to still be eating into those limited, heavily polluting resources like pigs to a trough. it may well be too late to stop the rot, but I pity the generations to come, who, provided there's still air to breathe, are going to be speechless when it comes to understanding the stupidity and pig ignorance of this generation and its blindness to what will inevitably come to pass. Unfortunately we seemed doomed to send ourselves and this precious little planet to oblivion.
LMAO! Where were these stories in 2008? Where? I'll tell you where - unwritten by ANY CNN journalist! The only stories about gas prices written by most journalists were about how BUSH'S gas prices were forcing old folks to forgo medicine so that they'd have money to put gas in their cars to get to the emergency room and how mothers were deciding between feeding their children and putting gas in the car.
From stories of kids on horses riding them to school to poor downtrodden folks forced to ride public transportation (which is somehow only bad when BUSH'S gas prices force it, but great when Obama wants it), all we were told was - Republicans fault, Iraq, Afghanistan, Bush's fault!
Kinda like ol' "genius" Fareed now! Yep, of course, it's CLEARLY not Obama's fault (though it was the president's fault when it was Bush), so now the fault must be on the "loose talk" of Republicans.
Fareed, you're the biggest joke in the history of CNN. And that's saying something.
Amen Walter...Amen
he wants credit for the economy, this part of it. its his wether he likes it or not.
so why was it always Bush's fault when these things happened? I guess President Garbage is immune.
The price of oil is driven by geopolitical uncertainty, yes BUT, if the "value" of a dollar wasn't 2 or 3 cents (courtesy of the FED), gasoline would cost less than a dollar a gallon – this is a fact. End the FED and abolish all of the government regulation that does not allow for a TRUE free market economy and you will see a big difference. Until this happens (and it WILL happen, either through some one like Ron Paul getting in the White House and MAKING it happen OR, OR, OR our economy will collapse first and then all of this wil be a non-issue) there will be no change and the pain of "business as usual" will continue.
"Loyalty to my Country always. Loyalty to the government when they deserve it." – Twain
I blame Obama.
Before blaming Republicans, remember first who's in charge of the country and then look at Geitner's testimony before the Senate about the lack of a plan to reign in spending.
In mid-February, while testifying before the Senate on President Obama’s 2013 budget, Secretary of the Treasury Timothy Geithner confessed with breathtaking honesty that the administration has no plan to rein in the long-term national debt nor to reduce out-of-control spending. “You are right to say we’re not coming before you today to say we have a definitive solution to that long term problem.”
America.....We're in deep trouble. Another four years of the current policies and we'll be bankrupt. Why are Obama and the Democrats hell bent on destroying America from within? We can't take anymore of this.
Zakaria.....Another left-wing propagandist." BooHoo. Nothing is Obamas fault. Everything is the fault of those evil, freedom loving, Republicans. Boohoo." Please forgive me for not buying into this B.S. It's the policies of the current president and his administration that have brought us here. Obama and crew own this. NOBAMA 2012.
And he won't try to resolve the problem. He right it is not a short term fix. But geez you have to start sometime. His Green energy plan is not the answer.
That's all you need to know.
greed over people, what the hell does that mean? Whay a load of psychobabble! The dems think I should hand over the money I earn to people who dont want to work. That will never happen. Go get a job and shut up.
Zakaria may be trying to make a logical response why the oil price is so high, which sounds like what was being discussed when under the Bush admininstration the gas prices got high too. Just funny how the media is turning upside down to defend poor poor Obama. I concur that it is the presidents policies and liberal views that put us in this state of 4 dollar gas. Dems can stuff it. payback is fun wink..
The Zio nist media cannot bring itself to clearly blame Israel's belligerence and war mongering is simply the ONLY reason why gas prices have increased in recent weeks.
This issue proves that people are going to believe exactly what the political parties they support flips sides when their candidate is not in office. In 2008, all conservatives were saying that Bush or any politician had control of gas prices. In 4 years, those same people are saying that the President is to blame for gas prices. When a politician says that they can control gas prices, it is an outright lie. The liberals blamed the conservatives when a conservative was at the helm and now the conservatives are blaming the Liberals for the exact same issue when they are not at the helm. It is pure politics and that is the problem. Pointing fingers at each other and name calling takes no backbone and even more, does solve the problem.
Who can control the problem is the consumers. That would be us. We cannot blame any politician (conservative or Liberal) for something that we as a people have the power to change ourselves. Boycott the big oil companies and their product for one day and the prices will begin to fall. If the people of this country could change the landscape forever if we can take a stand united and stop our depends on foreign oil. Per consumer, it would take a reduction of very little that would add up with the masses. Stop blaming political parties for our problems. Reduction in government is a goal for conservatives. Well, if you want that , stop depending on government to solve your problems. Liberals alike.
I am not associated with any certain political party because they are so out of touch. I do not care who is in office. Until we chose to take a step forward and put our feet down, it will never change. Politicians have one agenda to keep the population in the dark and simply breaks down to a simple philosophy. "Divide and conquer". Do not believe in our leaders from either party. You will end up in anger and wanting to destroy both Conservatives and Liberals. There has to be compromise without corporate incentives involved.
I meant to say not control over gas prices.
So if gas prices dropped through the floor, say to ,$1.50 a gallon , then loser obama would get the, credit right ?But when gas prices go way too high, he should take the blame for not doing anything to stop the rise in gas prices as well. It's part of deadbeat obamas corrupt, idioitic ,ideology to try to force his green agenda on the american people.
Granted, but did Bush take the blame???? Never heard him take the blame.
But when the price was high under President Bush many Democrats stated that President Bush could bring down the price. Different story when the shoe is on the other foot. Also Price of gas has gotten higher under mulatto Obama.
I agree with you and this is the part that I hate about politics. People believe the opposite that is true based on the political party they support. Simple cure is call "logical thinking". American public gets cooler every 4 years and sometimes 8
Down here in Houston, TX the average price per gallon $3.75. The record high price was set in July of 2008 when gasoline was $3.97 per gallon. November of 2008 was the last time gasoline prices had fallen below $2.00 per gallon since March of 2005. Gas prices have risen year over year since 2000. The last time gas in Houston was less than a $1.00 was March of 1999. The price of oil was only $12.05 per barrell then which played a huge part in gas prices. Now oil is over $100.00 per barrell due to speculations, so what does that tell you.
These gas prices may not be the Presidents doing, but the high gas prices will be his undoing. Some person on here asked if Republicans blamed President Bush about gas prices? The answer is yes, and the Democreeps piled on trying to lecture the president about his responsibilities. I am sick and tired of hearing about the market driving prices. We dont have to let OPEC and other organizations who hate us drive these prices. We can break away from the corrupt world market and have a US Oil Market that caters to U.S. interests. I dont care about what Europe pays for their gas, they made their bed when they agreed to a socialist, liberal, progressive agenda. This is America, WE ARE BETTER THAN EUROPE!!
Wrong – Obama is to blame. He chose to stop the pipeline from Canada, which would have allowed more oil into the US. He and Democrats chose to stop oil drilling, to beat up on shale production, to stop nuclear energy production, to ad untold numbers of mandates and costs (like ObamaCare) on to businesses, including oil, to increase taxes, and to increase the debt while will causes future taxes to rise. All of those things are Obama's fault. And all of those things add to rising cost of oil. So Republicans are right to place blame on him. Anyone who fails to accept that is an apologist for Obama's socialist policies, and lyiing to the American public. Shame on Zakaria; he is pandering to Socialist.
Why are you under the illusion that the Keystone XL pipeline will benefit us? Are you not aware of the following:
1. The pipeline will take at least 4 years to complete
2. The oil will be refined on the Gulf Coast and sold on the open market.
3. The price of gasoline will not be effected by this pipeline
4. It will transport an estimated 1.3 millions BPD, which is only 20% more oil than we currently transport through the
Alaskan pipeline.
5. Canada is still a foreign country, and our number one supplier of foreign oil, so this still would be an increase in domestic output.
6. The Canadians don't want this pipeline in their own country (Brittish Columbian province said hell no.)
Here's a quick lesson on oil discovery/drilling/transport/and refining for those of who are willing to be educated. The government holds two auctions per year where leases for "oil exploration tracts" go on the block. The first auction is in April and the second is in October. After the oil companines lease these tracts then they begin to acquire seismic data from them. Depending on whether the tract is on land or sea determines the time it takes to gather the seismic data, but its usually around 6 weeks. After the data is gather is run through a series of processing subroutines which, depending on the amount of data and subroutines used, can take up to 3 months. This processed data then goes to the geoscientist in the oil companines where more processing will be done. The average resevoir simulation runs for about 3 weeks, and may take more than one run to get decent results. Generally it takes a year to two years before an oil company decides if they have a drillable well.
In the case of off-shore drilling, the depth of the drill site is the major factor. Drilling ships are typically used for shallow water drilling (depths of 2,000 – 10,000 ft.), and are quickly deployed. The time-to-depth ranges and is greatly determined by weather and wind conditions. If the exploatory drilling has been successful and producable well has been discovered, then comes the hard part.....getting a production rig up and running.
The construction of an oil rig averages 2 1/2 o 5 years of build time depending upon the following: engineering and design (Fixed platform -vs- Semi-Submersible or Jack-Up) , availability of construction materials, weather, and construction deadline. Then you have the little issue of getting the rig out to the drilling site and getting up and running.
The bottom line is this, if ExxonMobil found a reservoir that could produce 3 millions BPD we wouldn't see a drop oil for at least 4 years. The Keystone XL Pipeline wouldn't be operational before 2014 at the earliest, and the bulk of that oil will be sold on the world market. We currently use an estimated 20 million BPD of oil, and we can't produce or refine that amount yet alone more.
Zakaria, I know you worship the ground Obama walks on, but try not to make it so obvious. This President has seen to compare himself to our greatest Presidents; Kennedy, Lincoln, Roosevelt. Someone close to the President, like you Zakaria, must tell the President that his arrogance is worth less than 1 gallon of gas. Obama seems to be a good husband and father, I cant wait to read his girls books when they write them. But as a President, he has not accomplished anything that promotes America's exceptionalism and greatness. If anything, President Obama has weakened this country by trying to make America appear apologetic and guilty.
I see all those people who blame the Tea Party, the Democratic Party, and the Republican Party for the price of oil, the economy going to pot, enforced health care, continued wars, and this and that. You are all wrong in who you are blaming and being at fault! It was the asphault!
It's Bush's Oil buddies and Goldman Sachs who Tell Obama what to do.
Zakaria is pandering to Obama and trying to help get him reelected. White House spokesman job?
His article is pish-posh thinking.
The rise in oil prices is simply a function of U.S. inflationary monetary policy and "squeezing" Iran which unfortunately will backfire..
Obama is responsible for both.
Send in the FBI to question the speculators on collusion. I am sure it is a federal crime. We have been the victims of the speculators a la Enron. They don't move anything, they don't pay for anything. They conspire to corner the market and jack up the prices. Electricity, nickel, housing, oil and so on. These leaches do not contribute to the economy, they free-load on it. They should face the simple Chinese procedure: Trial on Monday, Conviction on Tuesday, execution on Wednesday, appeals on Thursday.
Just becasue we can bring in oil from Canada does not mean it is usable. It has to be refined and that is out crunch point. We have had refineries close one after the other becasue of enviormental issues, tree huggers, government red tape, and other issues. Until we get a way to process the oil faster than we use it the price of oil will continue to go up. We need more refineries and a way to feed them.
Someone has to take the blam, and he is in the drivers seat, Too bad so sad.
We can drill all we want but what are we going to do when the oil reserves have run out? What will our children have left? One of the reason why the previous generations didn't drill oil was because they want to save some for the American future. Nowadays, so many people just want to borrow money but don't want to pay back the debts. It's sad for our country future.
might not be his doing but he isnt doing anything about it which is just as bad!
More Obama apologetics from a big-government liberal. Well, in this case, Obama told a campaign rally that his policies would cause higher energy costs. And they have. Now one of his media spokesmen comes out and says, oh no, it's not his policies. Balderdash.
Obama didn't cause the gasoline price to go up, but his administration could have investigated the causes instead of doing nothing.
well duh.. zach... but he is the leader when this occurs.. great corner office theory you over though... but mostly useless intellect stuff as usual...
Zakaria , why don't you join Congress, You are a big lier , just like they are, Why are we exporting oil in the US, to other countries, and why do we not see a drop go to the US from the Alaska Pipeline? answer the question, or keep your stupid opinion to yourself, you are as clueless as congress, or maybe you are all in on it. Don't build the Keystone pipeline, because we will not see a drop of that oil either, I can't believe you want inteligent americans to believe such garbage. and Yes, It is the President and Democrats, Republicans, and anyone else running for Office. It is all of your faults, Fess up or shut up. Americans are sick of you people.
RJG – your post is a priceless example of why our country is forever having trouble moving forward on the world stage – a huge amount of ignorance.
If moving forward on the world stage means appeasing a bunch of European socialists who have turned their countries into public sector dicatatorships, you can shove it up you liberal @- -ss.
Republicans want to bomb the crap out of Iran...hmmmm, I wonder what that would do to the price of oil?
Whats your source? Last I heared Obama, a Democrate, was laying down the ultimatums.
Don't confuse Sharkey with the facts, Steve... besides, Obama wants the price of gas to be over $5 dollars so we buy little electric roller skates.
That's why he'll be out of office in November.
You betcha!
If anybody wants to see what a crock this whole thing is, just check out this fact sheet from the Department of Energy: http://fossil.energy.gov/programs/reserves/npr/Oil_Shale_Resource_Fact_Sheet.pdf
We have trillions of barrels of oil available in the Green River Formation, but 70% of those are on Federal lands and Obama will not allow them to be drilled on. This oil is -thirteen times- more densely packed than the Alberta tar sands that we keep hearing so much about.
In contrast, Saudi Arabia has about 270 billion (not trillion) barrels of oil. Do you think opening up these fields would help shake up the world market? You bet they would.
We are being lied to by this President, and the leftist media that protects him. These high oil prices are 100% his fault–he could open up these fields within days, and the markets would react.
We have more oil than the middle east..but Liberals would rather send cash to the terrorists so we can keep funding their wars, make them wealthy and alloy dictators to control the prices. Who makes up OPEC?
Anderson and Zakaria, we can see through you. Both of you are about defending Obama, nothing else.
Yes I am sure that cancelling the pipeline, cancelling drilling in Alaska, North Dakota, Wyoming, the Gulf, off California, Anwar had NOTHING to do with gas prices going up...none at all. Because of course since oil is a comodity and the prices change with supply and demand...and the president lowered the supply while the demand is high..yup..he had nothing to do with it. Elvis is still alive too. But what do Liberals care..they dont need gas to go to work, they dont drive since they dont work, they whip out their EBT cards and buy steak, while claiming their SSI, Disability, Section 8 housing, subsadized utilities..all non taxed..what do they care if the price of milk goes up. Heres your change.
Obamas answer "Buy Electric Cars!" ROFL sure ill just get that 30k outa my wallet and go buy one..we all can!
Backwards as expected. This has gone beyond advocate journalism to outright lies. Wonder why the ratings are such as they are.
Zakaria man, you are nothing but a big Obama Butt Kisser. Quit being an Obama butt kisser and post comments that make sense. Oil prices going up are all but Obama's doing.
Quit kissing but and get real dude!
One interesting theory: high gas prices hurt rural gas-guzzling conservative voters more than liberal voters (except when food prices start to rise). Democrat voters are centered more around urban centers with access to mass transit.
So will conservatives vote "even less" for Obama than they did before the prices went up?
C'mon Freed. It's so simple,drill,pipe refine. Allow more drilling.build more pipelines and refineries. O doesnt want that,he's pushing his green agenda. Whats in it for him to help lower prices? Cant wait till November.
America's political class is bitterly divided on this issue. This is not a secret. They are deabting whether to get energy below the ground or above the ground for a long long time. That's why still there is no comprehensive energy policy.
There is no question that the price of gas can be used as a political tool ( Republican or Democrat). It depends on the political situation at the time. It was easy to blame Bush when he was in office because of his ties to big oil and the deregulation of industry that was being allowed. Its easy to blame Obama because he has reduced the amount of internal Oil drilling to be allowed in the country. As is stated in the article there is no question that gas prices are used as a political tool it just depends who's using it and for what. If one looks at the global picture though there are some bigger issues than political control that are driving the price of oil and gas both in the country and globally.
1. The demand in India and China has risen dramatically. As their standard of living has increased so has the demand for gasoline powered vehicles. remember that they are 1/3 of the worlds population. so its only logical that they will create a greater draw on the worlds oil and gas reserves as they modernize. the city of Beijing averages 1000 new vehicles on the road every day, and China has 30 cities with more than a million people.
2. It is easy to forget the other modernizing countries like Brazil, etc. who have also increased their standard of living as well, which in turn requires a greater draw on the world oil reserve.
3. Global shipping and air traffic have also increased dramatically as well, with the resultant increased price of fuel as a result.
4. For anyone who thinks that internal drilling is the answer then they have not been paying attention to the facts. America is now a net exporter of oil and gasoline products. yet the prices have not gone down. It has created more jobs in the US but has not impacted the pump prices, and the reason for this is simple, oil companies are multinationals hwo are not required to keep their product within the country that it is produced in. Until we have a policy that requires all oil products to stay in the US that we mine here we will not see an overproduction of oil internally that drives the price down.
The answer is alternative fuel and a top down program that drives a revolution in transportation and technology thinking around green , renewable or alternative energy. As soon as that happens that would drive a new economy globally.
I don't see any political leaders in this country Republican or Democrat who have the Berries to enforce a revolutionary energy policy.
Gas prices are still lower than they were under George Bush.
IF you assume the President controls gas prices, THEN you have to praise the low gas prices created by President Obama!
http://gasbuddy.com/gb_retail_price_chart.aspx
I don't know what you've been smoking, but you better put the pipe down.
If gas prices are over $4 bucks in November and Obozo is still pi$$ing money to his rich donors so they can fleece the taxpayer with phony green energy scams like Solyndra, he's finished.
I'm glad he killed Bin Laden. But he also killed the US economy.
Wow, Fareed handed him his azz in a hat. Fareed just got the GOP's main economist to agree with him.
This price of gas is due largely to unregulated Wall Street that is favored by GOP. How? Read Robert Reich in Salon.com for explanation: http://www.salon.com/2012/03/15/blame_republicans_for_4_gas/
The only policy of Obama's that has increased the price of gas is the policy of telling the world that we have Israel's back, as they make threats and plan for a military strike against Iran.
And this very policy is the one where Republicans (except for Ron Paul, who might as well be invisible) say doesn't go far enough. Romney, Santorum and Gingrich all claim they'd be stronger and harsher towards Iran and even more visible and unshakable allies to Israel, so they admit that if anything, they'd have done the same thing as Obama if given the chance, except maybe moreso. So if any of them were president, gas prices would be just as high or higher.
It's pure politics. Fareed is right. We can max out our production, approve the Keystone pipeline, etc, and if it makes any difference to the price of oil and gas, it will be on the order of maybe a nickel a gallon, assuming OPEC doesn't simply drop their production in response in order to soak up additional profits.
You really want lower gas prices? Tell Israel to sit and spin, and hope for another recession. That'll drop gas prices quickly.
I agree on the Israel issue, the only reason that we consider the security of Israel important is because they are right next door to Saudi Arabia, and the other oil producing nations of the gulf. If Israel was next door to Liberia we would not give a rip.
it's easy for Obama bashers to try to bash Obama on this issue. Of course one has avoid all the facts to do so but then again, that's what they do isn't it? Sad but true. I'm so disappointed in those who avoid the truth when they take an opportunity to express an opinion. What to they base their opinion on then? Internal bias against a man they obviously don't know but yet they join in the rabid pack of nay-sayers with their eyes glossed over not unlike a crazy zombie movie. One day I'll write how I really feel
Go buy your little electric car and have a nice hot cup of shut the F***K up.
Some day, I'll pick your little Prius out of the grill of my Silverado. And I'll laugh at you and Obama.
The controlability of international oil prices is NOT a political point for debate. While we consume a whole bunch of the worldwide oil production, the oil producers are sticking to to us (the USA) and the Oil Execs are sticking to us cause they know they can pass the costs on and we will still fill up our tanks.
I have worked in the oil industry my whole adult career, I have been nose to nose with this crap for thiry years, I am sharing how badly we are being ****ed. It's all legal, nothing we can do about it (other than stop using petroleum products. FAT CHANCE!)
But a political card is being played that the current administration is to blame. That's moronic!.
No president has been able to produce an effective energy policy because the folks who get rich from oil are continuing to get rich from oil. What? You think they are actually thinking about your well being? LOLOLOLOL
Zakaria is a pseudo intellectual. No brains, left wing ideology, mindless liberal block voter mentality.
He's an idiot.
The guy has a doctorate and has a fairly wide-spectrum of political views. The fact that he points out that oil is a market commodity make him leftist?
Okay, can somebody please explain why Republicans voted AGAINST making any oil from Keystone strictly for US consumption????
You and your colleague armchair generals and oil industry executives don't have the practical sense to realize that if we produced at least as much oil as we consume, even a price increase would not affect us as severely as when the dollars we pay go to other countries and not stay here as would be the case if we produced domestically. You and your armchair general friends are the main reason that we still talking about these matters instead of taking action. Action could have been taken by this President for 3 year now; had aggressive action been taken we would have less outflow of wealth, more jobs, and very likely lower prices. Talking is the way to delay, obfuscate and do harm to us even further.
Lets do the math shall we.
Oil Companies are big business and decade long ardent Republican supporters!
The price of gas is rising sharply and it is all Obama's fault, scream the Republicans!
Lol, this pre-election lie is all to transparent as a charade to fool the millions of simple minded voters.
Sadly, I think it will work perfectly!
The only ways you can get lower gas prices are:
1. A world wide deep depression
2. National prices below world market = tax payer subsidized
1. has to include the countries currently swiftly moving from third world status into first world = China, India, Brasil & Co = close to 50% of the world population. If not, they will soak up any decreased demand in the western democracies as well as any increased supply.
(Not only oil, but raw materials in general have passed Peak and are via Scarce on their way to No. Hence we witness a change from buyer's to seller's market. Good for mainly raw material exporters and bad for mainly exporters of industrial goods. One example of this is Norway in the past being the poor sister of much richer Sweden and now Sweden relatively poor compared to Norway.)
2. is of course only a question of political will to burden the taxpayers with the vast sums necessary. Most of them would probably very soon find out paying 100% of the cost at the gas pump is a better option than paying 50% at the pump and 50% as added tax burden.
Whether US presidents and car drivers like it or not oil and gas prices might very well fluctuate short term, but the trend is bound to be upwards. So the flow of this year will be the ebb of next year and so forth and so on. The future belongs to nations and individuals that get out of the fossil fuel age and into renewable energy first.
It is obvious oil is a limited resource for the simple reason we live on a planet limited in size. Most probably we have passed Peak Oil and is now via Scarce Oil on our way towards No Oil. Or rather when oil becomes more and more hard to get at the day when you will need minimum one unit of energy to produce one unit of oil energy. Then oil will only be drilled as a valuable raw material.
The only ways you can get lower gas prices are:
1. A world wide deep depression
2. National prices below world market = tax payer subsidized
1. has to include the countries currently swiftly moving from third world status into first world = China, India, Brasil & Co = close to 50% of the world population. If not, they will soak up any decreased demand in the western democracies as well as any increased supply.
(Not only oil, but raw materials in general have passed Peak and are via Scarce on their way to No. Hence we witness a change from buyer's to seller's market. Good for mainly raw material exporters and bad for mainly exporters of industrial goods. One example of this is Norway in the past being the poor sister of much richer Sweden and now Sweden relatively poor compared to Norway.)
2. is of course only a question of political will to burden the taxpayers with the vast sums necessary. Most of them would probably very soon find out paying 100% of the cost at the gas pump is a better option than paying 50% at the pump and 50% as added tax burden.
Whether US presidents and car drivers like it or not oil and gas prices might very well fluctuate short term, but the trend is bound to be upwards. So the flow of this year will be the ebb of next year and so forth and so on. The future belongs to nations and individuals that get out of the fossil fuel age and into renewable energy first.
It is obvious oil is a limited resource for the simple reason we live on a planet limited in size. Most probably we have passed Peak Oil and is now via Scarce Oil on our way towards No Oil. Or rather when oil becomes more and more hard to get at the day when you will need minimum one unit of energy to produce one unit of oil energy. Then oil will only be drilled as a valuable raw material.
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The President didnt speak to world leaders at the UN because he has a country and his own people to take care of, we need to focus on America an its people before we tackle the worlds problems. Taking care of our own is more important than the rest of the world
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