- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: WSJ Market Watch Opinion: If Iraqi oil goes off line, $200 oil is next
Posted on 6/18/14 at 1:05 pm to Thib-a-doe Tiger
Posted on 6/18/14 at 1:05 pm to Thib-a-doe Tiger
quote:
The gas price would be a result of the oil spill dumbass. Look at what you posted
christ have mercy you're a dumbass. I see reading comprehension isnt your strong suit
0
Posted on 6/18/14 at 1:06 pm to dante
quote:
What is so funny? It was $1.87 when he came into office....currently $3.70ish.
Again.... It was $4+ while Bush was in office as well. It plummeted his last 6 months due to a struggling economy.
Right now the U.S. produces roughly $130 million worth of crude oil per day in the Gulf alone. If you think rising business cost due to increased safety regulations equates to a price hike of $2 per gallon at the pump, then you are a moron.
Oil is by far and away a global resource that the U.S. President can do very little to influence.
Just read any number of economic articles discussing the issue. It's a popular arguing point amongst fighting parties, that's it.
Posted on 6/18/14 at 1:08 pm to xXLSUXx
quote:
If you think rising business cost due to increased safety regulations equates to a price hike of $2 per gallon at the pump, then you are a moron.
Oil is by far and away a global resource that the U.S. President can do very little to influence.
tell that the the poster from Thib a doe
Posted on 6/18/14 at 1:08 pm to tgrbaitn08
quote:
what i am trying to say is that the oil spill and the the safety regs are not the direct result of the price of gas and the price of oil on a global market.
If you meant to say "have a direct effect" you would have made a lot more sense. You are making it sound like I said BP decided to have an oil spill because the price of oil and gas were high.
Posted on 6/18/14 at 1:09 pm to xXLSUXx
Who said it was entirely due to the regulations? I'm just saying there is now a premium built into the domestic oil industry
This post was edited on 6/18/14 at 1:14 pm
Posted on 6/18/14 at 1:14 pm to Thib-a-doe Tiger
quote:
Who said it was entirely due to the regulations? I'm just saying there is now a premium built into the oil industry
No doubt. But it's not as heavily influential as people think. Global economy, and foreign stability have a way larger impact than domestic regulations.
Trust me, Obama did O&G no favors and I have no sympathy for him. But it's a political red herring more than anything.
This post was edited on 6/18/14 at 1:18 pm
Posted on 6/18/14 at 1:14 pm to tgrbaitn08
quote:
tgrbaitn08
what is your profession?
Posted on 6/18/14 at 1:19 pm to deNYEd
got it?
This post was edited on 6/18/14 at 1:20 pm
Posted on 6/18/14 at 1:22 pm to tgrbaitn08
quote:
got it?
I missed it but thought it was O&G
Posted on 6/18/14 at 1:22 pm to deNYEd
the transportation aspect of it
This post was edited on 6/18/14 at 1:24 pm
Posted on 6/18/14 at 1:24 pm to xXLSUXx
quote:
Obama did O&G no favors
bottom line and everyone points to our production now. It is in spite of him not bc of him.
Posted on 6/18/14 at 1:25 pm to xXLSUXx
quote:
No doubt. But it's not as heavily influential as people think. Global economy, and foreign stability have a way larger impact than domestic regulations.
Trust me, Obama did O&G no favors and I have no sympathy for him. But it's a political red herring more than anything.
One big impact that Obama has had on the price we pay at the pump (and really everywhere else for that matter) in through the devaluation of the US dollar. Oil is a worldwide commodity bought and sold on a worldwide market. But it's price is set in US dollars. And when the value of the US dollar goes down, then that means the price of oil goes up. I'd bet anything that probably at least $1.00 per gallon that we're having to spend at the pump is due to nothing more than the US dollar being so devalued.
Posted on 6/18/14 at 1:43 pm to Darth_Vader
The US government actually makes far more off a gallon of gasoline by the time it reaches your pump than the oil company does.
Posted on 6/18/14 at 1:48 pm to cave canem
quote:
The US government actually makes far more off a gallon of gasoline by the time it reaches your pump than the oil company does.
Very true. Couple the money the Govt is making off gas with the devaluation of the dollar (thanks to the actions & policies of that same government) and you get probably half of the price of a gallon of gas before the people who actually produced that gas ever see one red cent.
Posted on 6/18/14 at 2:06 pm to xXLSUXx
quote:
Again.... It was $4+ while Bush was in office as well. It plummeted his last 6 months due to a struggling economy.
Again - it has doubled since Obama became President - and not due to some massive economic growth, or currency inflation even (for which he would be indirectly responsible, anyway).
Posted on 6/18/14 at 2:16 pm to Ace Midnight
And that's solely on Obama?
Not the exponential increase in global consumption? (Specifically China and the rest of Asia, which have tripled their consumption amounts in the last decade alone?)
It's basic economics. Supply and demand. Gas would be $3+ regardless of who was president right now.
ETA: And furthermore, correlation does not imply causation.
Not the exponential increase in global consumption? (Specifically China and the rest of Asia, which have tripled their consumption amounts in the last decade alone?)
It's basic economics. Supply and demand. Gas would be $3+ regardless of who was president right now.
ETA: And furthermore, correlation does not imply causation.
This post was edited on 6/18/14 at 2:26 pm
Posted on 6/18/14 at 2:23 pm to xXLSUXx
quote:
And that's solely on Obama?
Nothing is solely on anybody. It's his watch. His policies are big problems.
quote:
Not exponential increase in global consumption? (Specifically China and the rest of Asia, which have tripled their consumption amounts in the last decade alone?)
Certainly this is a factor.
quote:
Gas would be $3+ regardless of who was president right now.
Obviously, this is an unprovable, unknowable assertopm. It was under various crises in 2008 under the previous administration, and has even been $4 before.
But Obama has made no policy change helpful to O&G, and is actively working to impede anything but unproven and unready green technology. About the only credit I can give him is he continues the Democratic zeal in driving CAFE standards ever upward - to which the automakers have responded with turbo gasoline V6s to replace 8s, hybrids and electrics.
This post was edited on 6/18/14 at 2:24 pm
Posted on 6/18/14 at 3:40 pm to Ace Midnight
It wasn't due to a natural disaster either, like the 2008 spike and correction.
I do think the president's politics have negatively impacted fuel prices, but this isn't entirely his doing. I simply think it's hypocritical to blame $4/gallon fuel and shortages after major hurricane impacts in southeast Texas on George Bush when we've seen nothing but consistently stratospheric fuel prices for 5 years now. There's no way this lethargic recovery is responsible for it. The economy is far from booming.
I do think the president's politics have negatively impacted fuel prices, but this isn't entirely his doing. I simply think it's hypocritical to blame $4/gallon fuel and shortages after major hurricane impacts in southeast Texas on George Bush when we've seen nothing but consistently stratospheric fuel prices for 5 years now. There's no way this lethargic recovery is responsible for it. The economy is far from booming.
This post was edited on 6/18/14 at 3:45 pm
Posted on 6/18/14 at 3:49 pm to dewster
quote:
I simply think it's hypocritical to blame $4/gallon fuel and shortages after major hurricane impacts in southeast Texas on George Bush
It was $3.37 before any hurricane or other disaster pushed it to $4.12.
And I'm not blaming George Bush. In fact, I'm doing the opposite. I'm saying it really doesn't matter who is sitting in the office; gas prices are by large affected by global consumption and foreign stability more than anything else.
But anyway - to actually talk about the OP topic. Iraq only produces roughly 4% of the world's oil. So no, you won't see a 100% increase to $200 a barrel even if they suddenly stopped producing. (Which despite recent events, southern Iraq is actually accelerating production.)
ETA: And as Darth pointed out, the value of the U.S. dollar affects it as well.
This post was edited on 6/18/14 at 4:04 pm
Posted on 6/18/14 at 3:57 pm to xXLSUXx
quote:
And I'm not blaming George Bush. In fact, I'm doing the opposite. I'm saying it really doesn't matter who is sitting in the office; gas prices are by large affected by global consumption and foreign stability more than anything else.
You left out the value of the US dollar.
Page 7 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News