Bachmann will drive oil price below $2 a gallon

[Tengilethos]

http://www.politico.com/news/stories/0811/61566.html

Americans will save at the pump if Michele Bachmann is elected president, the Minnesota Republican said Tuesday.
“The day that the president became president gasoline was $1.79 a gallon. Look at what it is today,” she said at an event in Greenville, S.C.. “Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.”

The average price for a gallon of gasoline is currently $3.58 per gallon, according to AAA.

Bachmann didn’t detail how she would cut the price of gasoline, which is tied to the global price of oil. She briefly mentioned the prospect of oil shale development in Western states and has been an active proponent of increased domestic oil drilling, including in Alaska’s Arctic National Wildlife Refuge.

Whatever her social conservative strong points might be, she has no clue about the economy. Doesn't she realize that oil shale is only profitable at current high prices? How is she going to achieve cheap oil? Subsidizing it's extraction with tax revenue?

The thought that she could become the next US President seriously frightens me.

 

[gewhite3]

Re: Bachmann will drive oil price below $2 a barrel

http://www.politico.com/news/stories/0811/61566.html



Whatever her social conservative strong points might be, she has no clue about the economy. Doesn't she realize that oil shale is only profitable at current high prices? How is she going to achieve cheap oil? Subsidizing it's extraction with tax revenue?

The thought that she could become the next US President seriously frightens me.

She's probably going to squeeze the oil out of her hersband's slimy, gay, lube-filled ass.

 

[jackoroe]

Re: Bachmann will drive oil price below $2 a barrel

That's a fair assessment of her. But we can do more exploring to increase supply. Obama was found to be in contempt of court because of his refusal to follow the law and grant permits to drill in the Gulf of Mexico. More supply equals lower price given the same level of consumption.

In addition, the money printing spree the Fed is engaged in is causing increased oil price because it is priced in dollars. It's inflation.

Does this get us under $2 a gallon? Hard to say. It's at least partly contingent on demand from emerging nations or whatever the hell we call them this week.

Of course doing something would be nice.

 

[Tengilethos]

Re: Bachmann will drive oil price below $2 a barrel

Doing something is certainly not wrong, but the main driving forces today are world-wide demand, speculation and production outside the USA. Increasing energy efficiency is likely the single biggest thing the USA can do to achieve lower gas prices.

I never understood why the Republicans are that one-sided when it comes to oil. All I see are ideas to increase supply by controlling the Mid-East oil and increasing domestic oil production (a bit exaggerated but you get the picture). But I know nobody who pushes for increasing energy and fuel efficiency. Am I the only one who thinks this is strange?

Edit: I am not against increasing supply if it is done in a sane manner, but it likely won't help much in my opinion.

 

[jackoroe]

Re: Bachmann will drive oil price below $2 a barrel

Doing something is certainly not wrong, but the main driving forces today are world-wide demand, speculation and production outside the USA. Increasing energy efficiency is likely the single biggest thing the USA can do to achieve lower gas prices.

I never understood why the Republicans are that one-sided when it comes to oil. All I see are ideas to increase supply by controlling the Mid-East oil and increasing domestic oil production (a bit exaggerated but you get the picture). But I know nobody who pushes for increasing energy and fuel efficiency. Am I the only one who thinks this is strange?

Probably because all of the republicans buddies are in the oil business? Just a guess. We have a great deal of oil here. They've calculated that there's between 3-4 billion barrels of oil in N. Dakota and Montana. That's about a years supply for the US.

http://www.wnd.com/?pageId=61488

Mr. Corsi, the author of the article is a right wing kook. But I checked the information on Snopes and it is legitimate.

In terms of efficiency, I don't think anybody really opposes things becoming more efficient. The problem is the government mandating things be done. That always rubs folks the wrong way. Now Obama has decreed that cars shall average 53 miles per gallon. Sounds great, right? Now how many fat American asses are going to fit in these tiny little cars? I just envision rolls of flesh hanging out of windows all over the fruited plains! Blechh!

 

[hotatlboi]

Re: Bachmann will drive oil price below $2 a barrel

The title is wrong, she said she would reduce gas to $2 a gallon not oil to $2 a barrel.

 

[Tengilethos]

Re: Bachmann will drive oil price below $2 a barrel

Yes huh... how did I get these mixed up? Sorry, I have read another report about oil at the same time and must have confused the terms.

 

[jackoroe]

Re: Bachmann will drive oil price below $2 a barrel

I'll fix it. Let's give our German friend a little slack.

 

[Tengilethos]

Re: Bachmann will drive oil price below $2 a barrel

Probably because all of the republicans buddies are in the oil business? Just a guess. We have a great deal of oil here. They've calculated that there's between 3-4 billion barrels of oil in N. Dakota and Montana. That's about a years supply for the US.

http://www.wnd.com/?pageId=61488

Mr. Corsi, the author of the article is a right wing kook. But I checked the information on Snopes and it is legitimate.

In terms of efficiency, I don't think anybody really opposes things becoming more efficient. The problem is the government mandating things be done. That always rubs folks the wrong way. Now Obama has decreed that cars shall average 53 miles per gallon. Sounds great, right? Now how many fat American asses are going to fit in these tiny little cars? I just envision rolls of flesh hanging out of windows all over the fruited plains! Blechh!

There is a lot of oil that can be produced, but it won't be cheap, oil shales are difficult to extract. And the gas tax is too low to lower the price of gas under $2, even if you abolish it entirely.

If you don't like the government to mandate what to do, you can be a bit more subtle. Those government housing subsidies can be combined with the condition that the built houses have to meet certain energy efficiency standards.

The fat people can still drive older cars

 

[maxpowr9]

You have to also consider the business side, do you really think oil companies want gas prices low? Considering how inelastic oil actually is, they know they can charge basically w/e they want almost to the point of price fixing.

 

[Kulindahr]

Edit: I am not against increasing supply if it is done in a sane manner, but it likely won't help much in my opinion.

We could actually increase our supply by turning our trash into oil using thermal depolymerization, in common terms known as "anything to oil". I highly favor government loans at merely one point over the rate of inflation to anyone interested in getting such plants going. We have decades worth of oil sitting around in the form of trash (pyramids of old tires in L.A., for example) at the rate of replacing 20% of our oil imports with this process -- and that doesn't even consider how much can be generated from everyday waste (food, old clothes, broken toys, packaging, road kill, etc -- over four-fifths of household trash can be turned into oil).

But even that won't get Bachmann's price; last I checked the profitability threshold was about $3.60/gallon.

OTOH, it would open up an interesting option: dump that high-sulfur 'dirty' coal in one end, and you can get high-quality diesel or even jet fuel out the other, with the sulfur coming out a side process to be sold as a chemical.

 

[chrisrobin]

Re: Bachmann will drive oil price below $2 a barrel

The title is wrong, she said she would reduce gas to $2 a gallon not oil to $2 a barrel.

Does Michele Bachmann know the difference?

 

[bike10]

For her next feat she will walk water and cure all us gays.

 

[chrisrobin]

For her next feat she will walk water and cure all us gays.

Hallelujah! Thank you Jee-zuss-uh.

 

[cynicus]

She probably pisses gasoline.

 

[star-warrior]

If she can do that then she will probably dictate what the market price ought to be. I don't see oil/gas companies wanting to give up their big profits to see the price for consumers drop to $2...

 

[Rubber Rat]

For her next feat she will walk water and cure all us gays.

While sucking on a corndog.

 

[justapixel]

Why cant Bachmann do it?

Gasoline was less than $2.00 a gallon when Obama's term begin.

Bush did it and Bachmann can do it.

Just because Obama couldnt do keep the price low, it doesnt mean everybody else is incompetent.

 

[barnbuddy]

it's all speculation on the spot markets

there is no shortage of crude oil

and if you don't think it's being manipulated, remember

ENRON + california electric rates back in 2000

I can still hear the trader's voice "OK grandma, now you pay through the nose"

 

[vulgar_newcomer]

Pixel obviously doesn't understand oil is worldwide commodity, and that's exactly what the Republican candidates count on by their base.
Oil prices will never be uniform at such a low price for any length of time again, and even after a dip when they climb to peak out each time, the valley is never to be as deep as the previous decline. Those days are over at least for our current assessment of oil use and production.
Anyone who thinks otherwise is foolish and naive, like I said people that believe this bobble-head get what they deserve.
Even if the bimbo was President and removed the federal highway tax, you should get ready for $6 - 8 dollar a gallon gasoline within the next 5 yrs as standard, maybe higher from time to time depending on world crisis from war to hurricane no matter who is the President.