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Qtec
02-23-2012, 04:28 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 17pt'>Blame Oil Speculators, Not Obama, For Rising Oil Prices</span>

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 <span style='font-size: 17pt'>a net fuel exporter.</span>

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: </div></div>

Calling all wingnuts, clear your mind and read.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> 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.

<span style="color: #3333FF">A McClatchy review of the latest Commitment of Traders report from the Commodity Futures Trading Commission, which regulates oil trading, shows that <u>producers and merchants made up just 36 percent of all contracts traded in the week ending Feb. 14</u> while <span style='font-size: 14pt'>speculators who will never take delivery of the oil made up <u>64 percent</u>.</span></span> </div></div>

link (http://thinkprogress.org/economy/2012/02/22/430184/blame-oil-speculators-for-gas-prices/)

<span style='font-size: 14pt'>What a surprise. Every single thing the GOP has to say on this subject is false!</span>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Conservatives would have you believe that President Obama has led “nothing short of a war on American energy,” as Senate Minority Leader Mitch McConnell (R-KY) said in May, repeating a common refrain. “Obama is waging war on American energy,” GOP presidential front runner Newt Gingrich agreed. Fellow candidate Rick Perry said Obama’s “draconian” energy policies don’t let Americans create energy “and sell it to the world.” <u>“All of this killing of our energy supply,” said Sen. James Inhofe (R-OK),</u> perhaps the industry’s biggest apologist in Congress. Of course, when conservatives say “energy,” they mean oil and fossil fuels, as they themselves have led a real war against American clean energy.

<span style='font-size: 14pt'>But like many conservative attacks on the president, the war on American energy is a fiction.</span> </div></div>


Q...its true,the only thing Obama has done to raise oil prices is taking a tougher stand against Iran!

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels.

<span style='font-size: 14pt'> That the U.S. is shipping out more fuel than it brings in </span>is significant because the nation has for decades been a voracious energy consumer. It took in huge quantities of not only crude oil from the Middle East but also refined fuels from Europe, Latin America and elsewhere to help run its factories and cars. [...]

<u> The reversal raises the prospect of the U.S. becoming a major provider of various types of energy to the rest of the world, a status that was once virtually unthinkable.</u> The U.S. already exports vast amounts of coal, and companies such as Exxon Mobil Corp. are pursuing or exploring plans to liquefy newly abundant natural gas and send it overseas. </div></div>

LWW
02-23-2012, 04:36 AM
Snoopy receives his "OPINION" from dear leader:
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Qtec
02-23-2012, 09:32 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Snoopy receives his "OPINION" from dear leader:</div></div>

What opinion?

I quoted FACTS, not opinion.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">According to data released by the U.S. Energy Information Administration </div></div>

You are the one with only your own warped pathetic opinion.


Q

Soflasnapper
02-23-2012, 01:44 PM
Q...its true,the only thing Obama has done to raise oil prices is taking a tougher stand against Iran!

That's not an inconsiderable factor here, though. Not that he has much of a choice in the matter, I suppose. If he took the exact opposite position, that the US stood with Iran against Israel's threatened attacks, that would still likely frighten the world and cause a large crisis premium from the speculators as well.

Qtec
02-23-2012, 07:20 PM
Republicans want Obama to be tougher on Iran.
Obama gets tougher on Iran.
As a consequence, oil prices rise.
Republicans blame Obama!

How crazy is that?

Q