Oil prices soar after Trump dumps Iran nuclear deal

Gas prices are notorious for fluctuating wildly. During Obama's tenure, the national average for a gallon of regular gas has been as high as almost $4 in 2011 and as low as $1.85 a gallon the month he took office.

Since late 2014, gas prices have been extremely cheap. The average price is under $2.40 a gallon as Obama leaves office. Many Americans have been saving hundreds of dollars a year at the pump. It's money they are spending at restaurants and other "mini splurges."

http://money.cnn.com/gallery/news/economy/2017/01/06/obama-economy-10-charts-final/9.html
 
EIA reports showing that during Obama’s administration, domestic production of crude oil has risen from 5.4 million barrels a day in the first quarter of 2009 to 9.1 million barrels daily in the last three months of 2014. .
 
kudzu said:
Gas prices are notorious for fluctuating wildly. During Obama's tenure, the national average for a gallon of regular gas has been as high as almost $4 in 2011 and as low as $1.85 a gallon the month he took office.

Since late 2014, gas prices have been extremely cheap. The average price is under $2.40 a gallon as Obama leaves office. Many Americans have been saving hundreds of dollars a year at the pump. It's money they are spending at restaurants and other "mini splurges."

http://money.cnn.com/gallery/news/economy/2017/01/06/obama-economy-10-charts-final/9.html
Click to expand...

They couldn't spend that money at restaurants and mini splurges when it was $4/gallon under Obama. Why do you ignore that?

Gas prices went from $1.85/gallon to almost $4/gallon in three years under Obama. Why do you ignore that?
 
kudzu said:
EIA reports showing that during Obama’s administration, domestic production of crude oil has risen from 5.4 million barrels a day in the first quarter of 2009 to 9.1 million barrels daily in the last three months of 2014. .
Click to expand...

Reports show that prices went from less than $2/gallon to almost $4/gallon under Obama.
 
Does the President Affect Oil Prices?

Yes and no, but mostly no. Presidents are generally given far too much criticism when prices rise, and too much credit when they fall. The busting of this meme in no way condones the Bush presidency, if anything it points out how even disastrous policies have surprisingly little effect on oil prices in the US compared to other factors.

Oil is a commodity traded on the global market, and while there can be manipulation by cartels, the price of gas is generally set by supply and demand (and government taxes on gas!). Bush having friends in the oil business doesn’t have much of an effect on the global supply and demand for oil, just as Obama’s supposed shunning of oil companies doesn’t either.

Commodities, like oil, are always volatile and respond to an almost infinite number of effects on the supply and demand. Even major events and policy blunders like wars and “tension in the Middle East” aren’t major drivers, as long as the oil market is allowed to trade freely.

For example, if we look after 9/11 and during the start of the Iraq War, prices were lower than now. While there’s always “tension” in that region, there was probably less a couple years ago when gas prices were high, than now with Syria, Iraq and Libya in chaos.

This isn’t to say different policies can’t have some effect on prices, but generally the status of the global economy and the relative value of the dollar have the most impact on prices, something the president has little control over.

In the last couple of years, many commodities have plunged relative to the dollar; from gold, to copper, to oil, not because of politician’s sudden lack of ties to “big gold”, but for market reasons.

http://memepoliceman.com/was-gas-cheaper-under-obama-or-bush/
 
kudzu said:
Does the President Affect Oil Prices?

Yes and no, but mostly no. Presidents are generally given far too much criticism when prices rise, and too much credit when they fall. The busting of this meme in no way condones the Bush presidency, if anything it points out how even disastrous policies have surprisingly little effect on oil prices in the US compared to other factors.

Oil is a commodity traded on the global market, and while there can be manipulation by cartels, the price of gas is generally set by supply and demand (and government taxes on gas!). Bush having friends in the oil business doesn’t have much of an effect on the global supply and demand for oil, just as Obama’s supposed shunning of oil companies doesn’t either.

Commodities, like oil, are always volatile and respond to an almost infinite number of effects on the supply and demand. Even major events and policy blunders like wars and “tension in the Middle East” aren’t major drivers, as long as the oil market is allowed to trade freely.

For example, if we look after 9/11 and during the start of the Iraq War, prices were lower than now. While there’s always “tension” in that region, there was probably less a couple years ago when gas prices were high, than now with Syria, Iraq and Libya in chaos.

This isn’t to say different policies can’t have some effect on prices, but generally the status of the global economy and the relative value of the dollar have the most impact on prices, something the president has little control over.

In the last couple of years, many commodities have plunged relative to the dollar; from gold, to copper, to oil, not because of politician’s sudden lack of ties to “big gold”, but for market reasons.

http://memepoliceman.com/was-gas-cheaper-under-obama-or-bush/
Click to expand...

When prices went up under Bush, lefties chastised him yet gave him no credit about how they were less than $2/gallon when he left office.

When gas prices went up under Obama, nothing was said by lefties. However, when the issue is gas prices, those same lefties mention how low gas prices were when Obama left office.

Now, you're back at it when a white man is in office.
 
CFM said:
They couldn't spend that money at restaurants and mini splurges when it was $4/gallon under Obama. Why do you ignore that?

Gas prices went from $1.85/gallon to almost $4/gallon in three years under Obama. Why do you ignore that?
Click to expand...

The part that a drinken opioid user like you doesn't get is that they also went back to $2 a gallon. You are just a sleazy scumbag as usual.
 
katzgar said:
The part that a drinken opioid user like you doesn't get is that they also went back to $2 a gallon. You are just a sleazy scumbag as usual.
Click to expand...

When Bush left office, they were $1.85. That's below $2/gallon. When Obama left office, they were $2.32/gallon. That's more than $2/gallon.

You're just a black ass kisser, as usual.

Looks like the white man bettered the black, again.
 
CFM said:
When prices went up under Bush, lefties chastised him yet gave him no credit about how they were less than $2/gallon when he left office.

When gas prices went up under Obama, nothing was said by lefties. However, when the issue is gas prices, those same lefties mention how low gas prices were when Obama left office.

Now, you're back at it when a white man is in office.
Click to expand...

Some did who like you don't know much about the oil business.
 
CFM said:
When Bush left office, they were $1.85. That's below $2/gallon. When Obama left office, they were $2.32/gallon. That's more than $2/gallon.

You're just a black ass kisser, as usual.

Looks like the white man bettered the black, again.
Click to expand...



I see you are drunk yet again
 
ptif219 said:
Part of the problem is Democrats will not let any refineries be built in the US
Click to expand...

That's NONSENSE... Everyone wants refineries except near them.. In the past when the ppb was low nobody would invest in refineries.. Or, do you want government to build them?
 
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