Price of gas In Game thread

[kbsooner21]

Still don't understand why we don't raise the price of a bushel of grain we sell to the OPEC countries to the price we pay per barrell of oil.

[vols fan]

So Bush gets blamed for gas prices when he was in office cause he was an oil guy. But now that yalls idiot is in office it's the day traders fault. You dems beat all I have ever seen

[KazDog]

So Bush gets blamed for gas prices when he was in office cause he was an oil guy. But now that yalls idiot is in office it's the day traders fault. You dems beat all I have ever seen

I know it's hard for you to comprehend anything, even when it's given to you in plain English, but it's very clear that prices now are being moved by day traders. Read and comprehend. It's not that hard. Those figures and percentages are REAL in that story about day traders past and now present.

Bush started a war with the leading oil producing country in the world. He crippled their production and volatilized the Middle East which produces a major portion of the oil in the world. Yes, his starting a war with Iraq had a direct correlation with prices rising during his term. Holy shit, you can't be that ignorant.

[vols fan]

I know it's hard for you to comprehend anything, even when it's given to you in plain English, but it's very clear that prices now are being moved by day traders. Read and comprehend. It's not that hard. Those figures and percentages are REAL in that story about day traders past and now present.

Bush started a war with the leading oil producing country in the world. He crippled their production and volatilized the Middle East which produces a major portion of the oil in the world. Yes, his starting a war with Iraq had a direct correlation with prices rising during his term. Holy shit, you can't be that ignorant.

Ignorance is believing everything you read. I read that article and sounds like an excuse not to hold Obama accountable. Y'all don't blame him for shit. That my friend is ignorant!!!

[KazDog]

Ignorance is believing everything you read. I read that article and sounds like an excuse not to hold Obama accountable. Y'all don't blame him for shit. That my friend is ignorant!!!

OK. I gave a VERY CLEAR reason why Bush was to blame for the oil prices rising when he was in office. I provided a story that is VERY CLEAR why you wouldn't blame Obama for the current prices rising or praise him if they drop below $2.00.

So without sounding too ignorant, why don't you give a reason why he is to blame for the prices rising. Seeing how production is at a 60 year high in this country and refinery's have quadrupled since he was in office.

[vols fan]

OK. I gave a VERY CLEAR reason why Bush was to blame for the oil prices rising when he was in office. I provided a story that is VERY CLEAR why you wouldn't blame Obama for the current prices rising or praise him if they drop below $2.00.

So without sounding too ignorant, why don't you give a reason why he is to blame for the prices rising. Seeing how production is at a 60 year high in this country and refinery's have quadrupled since he was in office.

Let me go copy and paste an article like you did and say that it's my opinion. It shouldnt take long.

[jcindaville]

Let me go copy and paste an article like you did and say that it's my opinion. It shouldnt take long.

[KazDog]

Let me go copy and paste an article like you did and say that it's my opinion. It shouldnt take long.

Copy and pasting at y'all's level of comprehension? I'm guessing that's gonna take you a while.

[jcindaville]

I can feel Vols BP going up

Lol

[KazDog]

I can feel Vols BP going up

Lol

Don't blame me for it rising. That's all speculation. Lmao

[ToDaClub]

Dumb to blame Obama for rising gas prices or praise him if the prices fall. It's gamblers on the exchange nowadays who make oil prices move up and down. Come Oct, that might change a little with a new law in effect. It's unreal to me that day traders can cripple the economy like they've done!



By Alex Seitz-Wald on Feb 22, 2012 at 5:10 pm

As the improving economy has robbed conservatives of their chief talking point against President Obama, they’ve turned to rising gas prices as the next problem to pin on the president.

Speaker John Boehner (R-OH) “instructed fellow Republicans to embrace the gas-pump anger,” while Rick Santorum conspiratorially claimed Obama is intentionally pushing up prices to cut carbon emissions. Not to be outdone, Newt Gingrich released a 30-minute video today about how “the Obama administration is so anti‑oil” that they’ve forced the price of gas to go up.

But there’s little truth to claims that Obama has curbed U.S. oil production and driven up gas prices in the process. As NPR noted this morning, the number of drilling rigs in U.S. oil fields has quadrupled under Obama and domestic oil production hit an 8-year high in 2011. For the first time in 60 years, the U.S. is now a net fuel exporter.

Oil demand was actually down 4.6 percent last week over last year, while the supply of gasoline has actually increased slightly since a year ago. So why are gas prices so high? As McClatchy’s Kevin Hall explains today, there is a systemic problem: speculation.

Energy futures markets serve a legitimate role in helping producers (like oil companies) and big end users (like airlines) hedge against price volatility, but lately, they’ve been taken over by Wall Street speculators who never intend to actually use the fuel they’re betting on. As Hall reports:

Historically, financial speculators accounted for about 30 percent of oil trading in commodity markets, while producers and end users made up about 70 percent. Today it’s almost the reverse.

A McClatchy review of the latest Commitment of Traders report from the Commodity Futures Trading Commission, which regulates oil trading, shows that producers and merchants made up just 36 percent of all contracts traded in the week ending Feb. 14 while speculators who will never take delivery of the oil made up 64 percent.

Many experts, lawmakers (Democratic and Republican), and government regulators have expressed similar warnings.

Finally, after many delays, the government board responsible for regulating commodity futures markets finalized a rule in October to limit speculation, a power it was given by the Dodd-Frank Wall street reform law. However, the rule won’t go into effect until next October, as the Commodity Futures Trading Commission (CFTC) needs to collect “one year of interest data” first. The financial industry is fighting the new rule, but just today, the CFTC took action against a company in different market, providing an example of how the energy regulation can effectively work.

Sorry Kaz, I stopped after I read "As the improving economy" Might be I don't believe it or could be my ADD kicking in! (Too close to call)

[ToDaClub]

What is the difference between Romney supporters and Obama supporters?

- Romney supporters sign their checks on the front.

- Obama supporters sign their checks on the back.

[kbsooner21]

What is the difference between Romney supporters and Obama supporters?

- Romney supporters sign their checks on the front.

- Obama supporters sign their checks on the back.

[jcindaville]

What is the difference between Romney supporters and Obama supporters?

- Romney supporters sign their checks on the front.

- Obama supporters sign their checks on the back.

Dead on Club

[jcindaville]

What is the difference between Romney supporters and Obama supporters?

- Romney supporters pay taxes

- Obama supporters don't pay any taxes

I know brother