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Sunday, December 27, 2015

"We can't just drill our way to lower gas prices."


President Barack Obama, February 23, 2012:
“Last week, the lead of one news story said, ‘Gasoline prices are on the rise, and Republicans are licking their chops! Only in politics do people greet bad news so enthusiastically.
“And you can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas. I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling. We heard the same thing in 2007, when I was running for president. We hear the same thing every year. We’ve heard the same thing for 30 years.
"Well the American people aren’t stupid. You know that’s not a plan – especially since we’re already drilling. It’s a bumper sticker. It’s not a strategy to solve our energy challenge. It’s a strategy to get politicians through an election. You know there are no quick fixes to this problem, and you know we can’t just drill our way to lower gas prices."
Three years later, gasoline is $1.82 in Poca, West Virginia.

Must be the free air offered at Sheetz.




7 comments:

  1. Well, to give him credit, he and the EPA have done (almost) everything in their power to cause the price of fuel to rise.

    Thank goodness the oil/gas companies have been able to improve their extraction methods--and the idiots in OPEC thought they could undercut the US market time and again. Wonder how that's working out for them?

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    1. Very well. A lot of drilling has stopped dead due to the drop in crude prices.

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  2. Dummy doesn't realize we have been hearing about running out of petroleum for over 40 years.

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  3. the only way I see 0bama actually being responsible for the low prices (I paid $1.589 yesterday in Greenville Texas, same price in Rockwall) is if he told the Saud to try and bankrupt the Frackers.
    This is having the wrong effect on things. The Saud are also aiming some pain at the Rus and POersians, so they are really trying to hurt a lot of folks with their latest glut.
    Thing is, they need it to be $100/barrel to pay for all their programs and keep a lid on things at home. Russia and Iran need it around that to keep the screws on Europe (in the case of Russia) or pay for troublemakers (in the case of Iran, and actually in part, Putin too), and US Fracking is getting to be profitable at $60 and dropping. Natural Gas is still high enough that Fracking keeps taking place, and the techs working on that are making oil easier to get. If the Saud could keep this up long enough, I'd bet we would see Fracking come close to being profitable at the lower prices, then what ever they do would only cause more profit and cause them to never make the break even point for their own needs.

    Another fine note on this. A few years back, $4 gas and high food prices was no reason for a raise in Cost Of Living. This year, Low Gas prices were given as the reason there was again to be no COLA for those on SS. Classic case of "Heads", they win, "Tails" we all lose.

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    1. Here in CO we are still drilling. Agreed not as much. The much maligned Budget deal will open up US oil for overseas. The Saudis can't keep up their dumping forever. They will run out of money. Then they too will have a "French Revolution" via ISIS.

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  4. Instead of a tire pressure gauge, shouldn't that be a picture of a rectal thermometer?

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  5. I am so not bummed for The Won

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