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  • 10 Things You Need to Know About High Gas Prices and Obama’s Oil Policy

    This week the media’s attention is finally focused on oil prices. After two years of continually rising consumer gas prices in America, the oil futures market has captivated the Mideast storyline. And attention is much needed. December 2010 saw the highest gas prices for the month of December in our nation’s history. This month, we’re setting similar records with the national average of $3.14/gallon–fifty cents higher than it was a year ago. If this trend continues, the summer of 2011 will hit consumers much harder than in the summer of 2008 when prices soared above $4/gallon.

    But if you only read, hear or see this week’s news reports, you would think that oil and gas prices were doing just fine until the historic events in Egypt, Libya and across the Middle East unfolded this past month and caused spikes in the futures market. Unfortunately, that is not the case. President Obama has been unilaterally taking steps to increase the cost of gasoline for two years. Here are ten things you need to know about gas prices that you may not hear reported elsewhere:

    1. Gas Prices Are Skyrocketing Under President Obama: The oil futures market is just that, a futures market. The price-per-barrel spikes in oil this week have not affected the domestic market yet. In fact, former Shell Oil President John Hofmeister made the prediction in December 2010 that America would face $5/gallon gasoline by 2012, a full month before the revolution in Egypt began. At the end of President George W. Bush’s two terms in office, prices were 9% lower than when he took office (adjusted for inflation). The day before President Obama was inaugurated; the average price of a gallon of gas was $1.83. Today, that average is $3.14.
    2. President Obama Has Crippled Domestic Oil Exploration: Putting aside calls from some who want to increase domestic exploration to areas in Alaska and elsewhere, President Obama has completely shut down the existing oil drilling infrastructure in the U.S. At least 103 permits are awaiting review by the Bureau of Ocean Energy Management, Regulation and Enforcement. The federal government has not approved a single new exploratory drilling plan in the Gulf of Mexico since Obama “lifted” his deepwater drilling moratorium in October 2010. Obama also reversed an earlier decision by his administration to open access to coastal waters for exploration, instead placing a seven-year ban on drilling in the Atlantic and Pacific Coasts and Eastern Gulf of Mexico as part of the government’s 2012-2017 Outer Continental Shelf Program.
    3. The Obama Permitorium is Costing the Government Much-Needed Revenue: The Gulf accounts for more than 25 percent of domestic oil production. With production in the Gulf expected to drop in 2011 by 220,000 barrels per day, the Energy Information Administration (EIA) estimates the U.S. will suffer $3.7 million in lost revenue per day as a result of lost royalties. If that holds, the federal government would lose more than $1.35 billion from royalty payments, just this year.
    4. The Obama Administration Has Been Held in Contempt of Court: Federal District Court Judge Martin Feldman held the Obama Interior Department in contempt of court on February 2, 2011, for dismissively ignoring his ruling to cease the drilling moratorium which the judge had previously struck down as “arbitrary and capricious.” Judge Feldman has since given the Administration 30 days to act on permits it has needlessly and purposefully delayed saying inaction was “not a lawful option.”
    5. Jobs Are Being Killed by Obama’s Oil Policies: As a direct result of Obama’s oil policies, companies that help supply our domestic energy needs are going out of business. Most recently, Houston-based Seahawk Drilling filed for bankruptcy. The Chief Operating Officer of the offshore drilling company, Randy Stilley, stated: “The decision by regulators to arbitrarily construct unnecessary barriers to obtaining permits they had traditionally authorized has had an adverse impact not only on Seahawk, but on the sector as a whole.”
    6. And More Jobs Are Being Killed: Vendors, suppliers, even restaurants and retailers are losing ground or going out of business as a result of the economically crippling policies Obama has unilaterally imposed. According to Reuters, many of the thirty-plus deepwater rigs in the Gulf have moved to other markets. Each rig directly employs approximately 200 people, but that doesn’t even count the ripple effect across the nation. One industry official told CNBC that the industry was on “life support.” But President Obama is spending billions to finance offshore jobs…in Brazil. The Obama Administration committed at least $2 billion in 2009 towards Petrobras, one of the largest offshore oil drilling companies in the world.
    7. Decreasing Our Domestic Supply Increases Foreign Dependence: Even Energy Secretary Steven Chu admits that “any disruption in the Middle East means a partial disruption in the oil we import. It’s a world market and [a disruption] could actually have real harm of the price.” If this is the case, then cutting our domestic supply hardly seems like an appropriate response. Rather than face this reality, Secretary Chu ridiculously called for an increase in renewable energy investments, which is a complete non-sequitur.
    8. Renewable Energy Is Not the Answer to Mideast Turmoil: According to the EIA, petroleum accounts for less than one percent of electricity production. So wind and solar, which do not produce transportation fuel even if Obama’s $40,000 Chevy Volt quadruples production, can only replace coal and natural gas, of which America has an abundant supply. As for biomass, over 40 percent of domestic corn consumption goes to ethanol, which provides less than 10 percent of our transportation fuel and causes food prices to increase. Three large production platforms in the Gulf could provide an amount equivalent to all of the biofuels produced in the U.S.
    9. Regulations and Delays: The Obama EPA has added costly new regulations to refineries in the name of global warming, while the Obama Interior Department issues new rules that make it much harder to develop natural resources on government land. The EPA is also denying approval of the Keystone pipeline which would increase the amount of oil the U.S. receives from our friendly neighbor Canada by over a million barrels per day.
    10. The Middle East Is Not the Sole Cause of Rising Oil Prices: Global oil prices have been rising steadily for months based on variety of factors including those listed above and as the world economy pulls out of a recession. In fact, Egypt is not a major producer of petroleum, and only 2-3 percent of the world’s supply moves through the Suez Canal. Certain spikes are not abnormal and can be more easily weathered with a smarter domestic energy strategy.

    This week, Deputy Energy Secretary Daniel Poneman told Bloomberg Television: “We’re hoping capacity will be brought to bear so it will continue to support our economic recovery.” Mr. Poneman needs to head down his hallway to meet with his boss Secretary Chu and explain how energy prices affect an economic recovery. Because it was Chu who, in the name of environmental radicalism, stated in 2008: “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.” It would seem President Obama and Secretary Chu are getting their wish and you are paying for it every day.

    You can follow Rory Cooper on Twitter @rorycooper

    Posted in Energy [slideshow_deploy]

    135 Responses to 10 Things You Need to Know About High Gas Prices and Obama’s Oil Policy

    1. rose bell says:

      why oh why are we not drilling our own oil,& if not when can we start & how can we over come the stupid reasons & people who will not let us drill for our own oil???

      • Bob says:

        Folks, you're not getting it. Even if we drill for oil, the oil companies will continue to sell to the highest bidder, China and the like. Solve the refineries USA comes last attitude and you'll get something done. I recommend a high tax on refineries selling to foreign countries making the field level.

      • fred says:

        Oil production is at an 8 year high. Also, apparently you need to be informed that America cannot drill it's way out of the oil problem. It's only been said a million times before but apparently you never got the memo.

      • Copper says:

        We don't even need to drill. There's a type of bacteria that will natuarally make fuel from sunlight and CO2.

      • Lisa says:

        Because as economists and President Obama will tell you, supply and demand is not the problem. It is commodities traders who are responsible. Nothing but further regulation will change that. Obama has put a policy in place to regulate their activities but as yet no one has the courage to enforce it. The asset bubble created in the real estate market is the model they are using now for oil. Supply is up right now. Why are prices rising? Stop listening to political propagandists. We need to get behind the right programs that will make a real difference. Drilling now will only make them more rich. Not help us at all until these policies are enforced.

      • Lisa says:

        Released: May 25, 2011
        Next Release: June 2, 2011

        U.S. Oil Import Dependence: declining no matter how you measure it

        U.S. oil import dependence is an issue perhaps as hotly debated as it is loosely defined. As discussed in a This Week in Petroleum article published in 2008, there is more than one way of measuring it. Different methods of calculation yield different results. But whichever way it is defined, U.S. dependence on imported oil has dramatically declined since peaking in 2005, continuing a trend that was beginning to emerge the last time This Week In Petroleum examined the issue. By the broadest measure, U.S. dependence on imported oil fell below the 50 percent mark last year for the first time since 1997. To put it succinctly, discrepancies in the way dependence is assessed arise because oil, for the most part, is imported as crude oil, but is consumed as refined products, of which crude oil is the main but not the only input – hence the need to clarify whether dependence is assessed at the output/consumption level or at the input level, and in the latter case what range of inputs is included as a basis for comparison. Two of the most common and straightforward definitions measure dependence as the ratio of total net oil imports (including crude and products) to total product consumption, or much more narrowly as the ratio of net imported crude oil to net crude oil inputs to refineries.

        By the broadest standard (Measurement A in Table 1), U.S. dependence on imported oil fell from 60.3 percent in 2005 to 49.3 percent in 2010. If processing gains obtained from imported crudes are counted as imports (Measurement B), then dependence falls from a high of 63.6 percent in 2005 to 52.8 percent last year. A much narrower measure that looks at crude oil imports into the United States as a percentage of total refinery crude inputs (Measurement C) excludes ethanol, biodiesel, and natural gas liquids (NGLs) as sources of petroleum products that are almost entirely domestic in origin and also does not reflect the substantial recent growth in U.S. petroleum product exports. By that measure, import dependence was 62 percent last year, still significantly below its 2008 peak of 66.6 percent.

    2. James Tyler says:

      I hope oil prices go up. I live in LA and I am sick of breathing in toxins that will take years off of my life.

      • eagle275 says:

        Breath deeply.

      • Davey Mac says:

        Yeah, that makes sense. Or you could move. Or you could stop driving. Or you could just wish further economic distress on your fellow citizens, as your post suggests.

      • Dr_Funk says:

        I suppose you love the seriously toxic chemicals released by mining the nickel and lithium and neodymium that go into all of your favorite "eco-friendly" machines.

        You eco-nuts are infuriating. You base your claim that gasoline-powered cars are evil and extreme polluters on the idea that CO2 is a pollutant (its not, its a byproduct of life on this planet). Then you go and push things like the Prius or the Leaf that are supposedly, according to you, better for the environment. But the Prius, over its expected lifetime of 100k miles, will cost more in energy to build and operate than a Hummer will over its lifetime of 300k miles. It costs more energy to build a Prius than a Hummer. They mine the nickel in Canada, ship it to China where its turned into foam, ship that to Japan where its put into batteries, and it finally gets shipped to the US where it finds its way to a car dealer inside a car. Batteries are very heavy, even Lithium ion. So all of this energy has to go into producing a Prius, and the absolute bulk of the world's energy, especially in the places where Priuses are assembled, comes from coal, which produces this supposed "pollutant" known as CO2. So in driving a Prius, you're trading up to a vehicle that actually results in MORE of your dreaded "pollutant" CO2. And the Prius gets worse gas mileage than other bigger displacement fuel injected engines when its being pushed hard. Every time you merge onto the highway, you're getting less than 18mpg. If you merge in a big v8 BMW or Charger, you'll get better than that. Even cruising on the highway is more efficient in a standard full size car versus a PriusDon't believe me? Watch this: http://www.youtube.com/watch?v=JmxUsGiGp3w#t=3m11s

        Then there's full-electric cars like the Leaf. If you drive one of these for its "environmental impact", you're an even bigger moron. The Leaf gets charged from a circuit at your home or place of work, so its being charged from the electrical grid. The overwhelming majority of electric power in this country is generated from coal. So yet again, you're giving up your gasoline car on the basis that it produces too much CO2, and switching to a car that runs off a battery that gets charged by a coal plant that produces CO2. And to make matters worse, that battery is full of caustic materials that, when mined, release lots of nasty REAL pollutants into the atmosphere causing acid rain and such. Don't believe me? Take a look at this nickel mining site in Canada: http://www.photoforager.com/wp-content/uploads/20… That's the Sudbury, Ontario nickel mine site…

        Lead, Nickel, and Lithium are all toxic and dangerous to mine. The idea that you're saving the environment from pollution by buying an electric or hybrid is a total fallacy. The idea that CO2 is a pollutant and that you're saving the environment from CO2 by buying an electric or hybrid is also a total fallacy.

        So go separate your neck from your sphincter.

      • Wendy says:

        well I'm sick of paying higher prices at my local market just to feed my children…and higher gas prices cause more than that to go up. People like you should all be buried in the same hole to save space! You probably voted for Obama!

      • JEC says:

        You have been taking in fumes alright but I don't think it is exhaust.

        Go take a bicycle ride.

    3. Pedro Rutah, Charlot says:

      You have to understand something. Obama does not care about regulations or what we think. He is on a mission to destroy our economy pure and simple. I would not be surprised if he hasn't promised our oil production and reserves to Communist China for some deal for himself and his 'Czars'. As long as Obama, the mystery man, has a puppet master pulling his strings, he acts. He is not through with us by a long shot. Why do you think he has sat back and done nothing about all of the problems in the middle-east muslim countries? What kind of a deal has he made with them? Does it involve the destruction of Israel? Think about it. He has a lot of useful idiots helping him do his dirty deeds. Wait until they find out that they are going to get screwed too.

    4. Don, Virginia says:

      Great article. However, I don't see ANYONE providing answers to my questions below. Will you address these?

      What is Congress now doing to address the illegal (in)action of the administration re drilling permits? Isn't this important enough for Mr. Boehner to address?

      What will happen if a drilling company obeys the court (judicial branch), rather than the Obama administration (executive branch), and simply begins drilling without a permit? What can the administration do to prevent drilling without a permit? Why must a company obey the executive branch rather than the judicial branch – or does the Constitution say that they must?

      If the Obama administration dispatches the Navy or Coast Guard to force a company to stop drilling by boarding a rig and shutting the rig down at gunpoint, wouldn't that be grounds for a federal suit and/or Congressional legislation to force Obama to obey the federal court ruling?

      Isn't there a single US company willing to be a Rosa Parks and commit "civil disobedience" in pursuit of a higher goal (rule of law and US energy independence from foreigners)? Are there no patriotic US companies like this at all?

    5. pbill, Tennessee says:

      I love this line:

      At the end of President George W. Bush’s two

      terms in office, prices were 9% lower than when he took office (adjusted

      for inflation).

      …If you give Bush credit for the drop in gas

      price you must also give him credit for doubling the unemployment, and

      adding about $4.5 trillion to the National debt.

    6. Evelyn Godinez, Cali says:

      When is this president going to be impeached!!!!!!

      • Randy says:

        Last I checked the liberals controlled the Senate where it would take a two thirds majority or 67 votes. Can you say NO WAY?

      • Nana says:

        Evelyn, I've been asking the same question for months! Congress is too busy playing cards or whatever. The dems love their darling and they don't care what happens to America. They just put cotton in their ears and blinders on their eyes. What a sad state of affairs we find America in these days. Our Founding Fathers are rolling over in their graves. God Bless America!!

      • dean smith says:

        What specific impeachable offense(s) has the President done? He did not lie about Nukes to go to war, he did torture prisoners, he didn't put American lives at risk for his own gains.. unike GWB.

    7. Barbara Haney, Alask says:

      A minor note: there was permit approved by Shell, but then a new regulation was placed on them, making it impossible to complete drilling in the Arctic.

      The Obama adminstration has given significant assistance to Mexico and Brazil to drill, yet it simply refuses to allow any permits to be approved. In the case of Shell's well I referenced above, Shell had nearly $4 Million involved that they may never recover. The risk of capricious regulators simply stopping a project mid-stream after millions of dollars of investment have been poured into the project is chasing businesses away from US markets. Some companies have indicated to the various media outlets that they simply do not feel welcome to do business in the US, their own country.

      Even if the permitorium was ended, I think the Obama Administration would have to have some serious personnel changes to make any amends "credible."

      In the case of oil, the interests of the United States National Defense are being set aside for the interest of environmental groups and complicit corporate interests. It is no secret that General Electric has a rather cozy relationship with the current Presidential administration. It is no secret that GE hold several patents on electric motors and has invested heavily in green technology. It is rather obvious that the industries that hope to gain from the relatively high price of oil are green technology producers. While that may be well in good, there is a tremendous transition time that is required for those technologies to come on line. Further, there are areas of the US, such as the Interior of Alaska, where electric cars and green technologies are only marginally functional. Extreme darkness and extreme cold reduce the benefits under current technological constraints.

      National Defense interests alone warrant drilling. Sadly, this administration has greatly damaged the US's defensive posture to benefit groups percieved as friendly to this president. Beyond national defense, the period of stagflation will greatly exacerbate the US economy. The impact of this, I suspect, will make the Carter Stagflation appear to be a minor recession.

    8. bough, houston,tx. says:

      America could get back to work today if they could drill. The unemployment ins. could stop and people working could pay taxes to get us out of this mess. Taxes on gas and oil could help.

      If someone delibetly tried to bring a cuntry down they could notdo a better job than Obama has.

    9. John; Oceanside, CA says:

      President Bush signed a memorandum on July 14, 2008, that lifted the ban on offshore drilling outside the Gulf of Mexico area. On that date, a barrel of oil was priced at $145.16. By October 16, 2008, the price was less than half. Conversely, it took almost one year for the price to the high of $145.16. So much for the basic economic principle of sticky prices.

      Even if the US does not drill into new fields, the open possibility seems to depress the price. Can someone please tell me where I'm wrong?

    10. PBennett. Arizona says:

      Whatever the reasons for the high, and going higher, prices, the base cause still emanates from the supply shortage vs. demand. Old Supply and Demand still rules price, so it would seem.

      President O's fat is soon to be in the fire. He will have to decide between two of his favorite policies, to wit: A) spending stimulus money to fuel the recovery or B) suppressing fossil fuel consumption to… who knows? He can "stimulate" all he wishes, but if he really expects America to crank it's faltering economy up to prosperity speed on sunshine and prairie winds, IT AIN'T GONNA WORK !

      Mr President, the time has come to become part of the solution rather than the problem.

      Put the oil industry back to work, to be followed shortly by the rest of the economy. Short of that, Mr O, it's time to pack your bags and sneak off into obscurity.

    11. Cajun Maverick, Texa says:

      What's missing from this post is the effect of commodity inflation caused by the Federal Reserve's Quantitative Easing. Ben Bernanke and his beard must be impeached. So while CPI may not be showing inflation overall due to falling prices in other areas of the economy, energy and food prices are skyrocketing because investors move to commodities when the dollar is weaker.

    12. Judy says:

      I actually saw gas here in Bethlehem, GA, as high as $3.19/gallon!

      It seems as though we are deliberately being made to "fail" by this Administration and it's blockading the development of our own God-given

      oil reserves here, not to mention, putting so many restrictions on our oil companies that they are going bankrupt.

      In my opinion, it seems as though Obama and his buddies may be tipping the scales to help bio-friendly agendas and companies with silly windmill, etc., schemes, while at the same time blockading further oil development that is reaadily available for our use. It is a travesty that there workers are losing jobs thanks to a thumbing the nose at and mismanagement of our oil reserves.

      Is this in the best interest of the American consumer, American business and the Americans who need a job?

      I don't think so!!! Instead, I would call this dereliction of duty.

    13. Robert, Utah says:

      I would like to know when some of our Representatives are going to have the balls to band together and get this country back on track like our forefathers intended it to be. I say screw OPEC, screw EPA,UN and political correctness. The damage these organizations have contributed to this country is inexcusable . We as a country need to take care of our boarders ourselves. Put he EPA in uniforms and let them defend our borders. Now that would be doing some real good for our country. I might as well throw the IRS in there to while I'm blowing off steam.

    14. teresa says:

      So, true. Have suspected it from the beginning. It's all planned. Not a surprise at all.This is his CHANGE he was talking about FORCEING Americans to switch over to alternative fuel and at the same time make money!

    15. teresa says:

      A very familiar tactic. Like the housing crisis. All planned and in the end make money off of it at the same time. Going Green and Investing in the future like high speed rails. I think in the end same tactics make money off of it at the same time. Why do Americans allow this to happen over, over, and over? Wake up America!

    16. Adam NC says:

      The answer is blowing in the wind. Time to change leaders and administrations.

    17. rollzone, USA says:

      hello. how absurd is it to mention oil is only needed for 1% of Americas electricity production, when you are trying to defend oil consumption in automobiles? electric vehicles would eliminate the need for gasoline overnight. our thirst for oil would drop by 60% with electric vehicles. oil would again resume practical values nearing $19/barrel. denying electric vehicle mass production in the United States has been fueling oil consumption for decades. our national energy policy has been bought by oil interests. unburnt hydrocarbons from internal combustion engines cause cancer. end our dependence on gasoline for transportation, and there is no oil crisis.

    18. Rachel Strong, Dalla says:

      LOL. When you write from Seahawk's press release, it's soooo easy. First, Seahawk's stock is grounded where others in the same space are thriving. Since January 2009, Transocean has gone from 52 to 82 (up 58%), Diamond Offshore up 63 to 76 (up 19%), Ensco up 27 to 53 (up 95%). Yet Seahawk's bankruptcy is because of WH policy?!? OMERE has issued 31 shallow-water permits with 9 pending which means you stock players better not follow this author's shallow advice. Oil rigging is a good play even in Obama-led WH. Seahawk inherited a $100 million tax liability from the Pride Inc. era, had a series of unfortunate accidents, and never turned a profit. A bad company or two in a sector that's outperforming the market does not warrant this "journalism" or associated worries by stock investors relying on same. Investors: please do real research before bailing.

    19. Kelly LA says:

      It is pretty evident we are being punished for what are fore-fathers did and the bad decisions they made. I can only imagine 2015 and what it will be like. Not a great economy to really be happy about, not to mention all the younger generation struggles that our children are going to have to face because of these poor decisions. If businesses can't give employment raises because their costs have sky-rocketed, how does the economy plan to improve because no one will be buying anything anymore hardly not to mention people will loose their jobs even more and homes/cars & groceries will be so high that people will no longer buy healthy food making people sick all the time requiring more healthcare. ( I HOPE EVERYONE CAN SEE THE BIGGER PICTURE LIKE I DO)

    20. David Taylor, Housto says:

      Someone wrote "great article." Makes me laugh that someone can take an unfortunate company underachieving where virtually every other company is flourishing and use a tool of the press to make people feel empathy for them. Boo hoo, it's the regulation and not bad business dealings and practices that hurt Seahawk. Policies have more to do with Blockbuster's and Borders' declines than they do the fine folks at Seahawk. I'm sorry that they could never turn a profit but — look it up — almost everyone else is in domestic and international drilling.

    21. Pragmatic in Texas says:

      The media is constantly stating how smart Obama is, but he makes foolish choices. I beg to differ. Book smart is not common sense. I only have a few credits of college study, but even I can understand how deeply in trouble we will be if we do not utilize our resources we have in our own country. Why can't Obama see this? Smart? Feh…….

    22. Terry Marti Huntsvil says:

      To Tyler in L.A.

      MOVE !!!!

    23. ScottyB says:

      Hey Rollzone- what are electric cars made of?? Hmmm, plastics, batteries, tires, and moving parts requiring lubrication… Matter of fact, when viewed in the light of manufacturing, electric cars have a HIGHER carbon foot print than standard automobiles, by a factor of 2. When you look at disposal, it's even higher, 3x or more!

      Petroleum is also the basis for many drugs, food containers, clothes, electrical devices, in short, there is no leaving oil for decades even if we found a substitute fuel.

      Try again, and think, think, think!!

    24. Terry Marti Huntsvil says:

      When will this fallicy on electric cars be told. Is the plan to plug these vehicles into trees. Where does one think the electricty comes from ? Also ask someone up north how well their electric vehicle worked during the cold weather ?? Duh

    25. Anita, Texas says:

      Obummer is out to destroy this country and he's doing a real good job of it. Oops did I type that nasty word…job?

    26. William Downey, Worc says:

      The Obama war on oil has put the country into the rock and hard place. The administration policy rejects the need for exploration and development resulting in as you said loss of jobs, revenue and putting a greater stress on existing domestic production operations.

      At the same time we have the Jasmine Revoluution in the MENA region, which with the exception of Libya has been largely peaceful. When this revolution arrived in Egypt, oil spiked partly because of concerns over the Suez and its potential closure.

      While in Libya, which holds the 3rd largest proven oil reserves in Africa, the chaos has resulted in the actual termination of some exploration and production, popularly estimated to be around 400,000 b/d. ENI which is a large stakeholder in Libya for both oil and natural gas estimates that the resulting chaos has reduced production by close to 1 million b/d. The Libyan fields export primarily to Europe and Asia, with the U. S. importing about 5% of Libyan oil.

      Factor in these scenarios with these facts about an unstable region:

      The posssibility that output from another OPEC member could be curtailed or halted as a result of demonstrations and strikes;

      The presence of Iranian warships in the Med, having cleared the Suez, for the first time in 30 years. Ostensibly training they are an unsetteling strategic issue for Israel and the West;

      The reports that the Saudi's have been delibertly overestimating their reserves.

      Substantial reductions in supply for whatever reason with increasing demand from China, India will contribute to increases in the cost of crude. These increases impact a wide range of industries not just transportation, including agriculture, chemicals and other manufacturing. As it costs more to produce and transport these products, the consumer is squeezed. The end result is simple: a slide into another "Great Recession".

    27. Jean, Georgia says:

      A friend of mine was just fortunate to "get a job". When filling out papers for health insurance his annual salary was part of this form. It also requested PROOF of him being married and also wanted proof from his spouse. Unusual ??? I would think so…but not anymore. When he questioned it he was told this is part of Obamacare !!!!!!!!!!!!! Wake up America. We need to repeal this. Look at what other Countries are going through. We are following in their footsteps ! SAD.

    28. Timothy Schiel, FT. says:

      Pres. Obama stated during the last gas price surge that he didn't have a problem with the high price, only that it went up too fast. Why should it come as a surprise that he is engineering a slow, steady increase now?

    29. Maggie,OH says:

      Every war was planned and every president has inherited the pasts problems, what is so wrong with recycling? And again the issue of what we have vs what others have..there are those who have soooo much and have had it for soooo long that they don't know how to share or are soooo scared of living without that they do things that are very unkind and unfruitful. People judge before they look in a mirror and ask "what can I do to help" There is only one solution and that is Jesus Christ Lord and Savoir. Isaiah 41:13.

    30. Robb Fairchild, Chic says:

      President Obama is succeeding at a rapid pace to fulfill "My Father's Dreams" and that is to destroy the USA, her allies and capitalism. It's pay-back time and his actions indeed, here and abroad, speak volumes.

      The American public are like frogs in the pot of water and Obama has been slowly turning up the heat, in so many numerous ways that many, who were seduced by his looks and words, are unable and unwilling to jump-out.

      If we don't jump-out now, and cause havoc in his kitchen, he'll have completed his goals of destruction before 2012; in just 4 short years!

    31. WHICH WAY says:

      WE KNOW THE PRICE OF GAS,TELL US THE COST OF GAS.WHAT IS THE COST OF GETTING THE OIL OUT OF THE GROUND TO THE PUMP.LABOR-POWER-INSURANCE-TRANSPORTATION-MAINTENANCE-PAPERCLIPS-PROFIT-SPECULATORS-TAXES-LOOK INTO IT AND YOU NAME IT.THEN WE CAN LOOK FOR PLACES TO CUT COSTS….TO JAMES TYLER IN LOS ANGELES—GO LIVE IN NEPAL,THE CAR WAS THERE BEFORE YOU.PEOPLE ARE LIVING ALMOST TWICE AS LONG SINCE THE AUTOMOBILE THAN BEFORE THE HORSE MANURE DISAPPEARED..

    32. Tom Sullivan in FL says:

      The energy policy of the US and many states is to destroy energy production – oil, coal, natural gas, and nuclear.

      Today's market futures prices for bulk gasoline indicate that pump prices will be $3.40 soon. That will lose Obummer another 5% of the voters. Liberalism is a self-limiting disease, like diarrhea.

    33. D,K Denver says:

      Who wrote this garbage. Take a look what Bush and Cheney did. How their decision's have put this country to far in dept we might never dig our way out. I guess invading Iraq didn't give the govt control over their oil as they had hoped. Stop trying to blame everyone else for the decision's that were made in the past.

    34. Ed, Reno Nevada says:

      I was watching a program on the History Channel about wind turbines. The program showed how much larger they have gotten in the last few years. One of the visuals that struck me was the GE logo on the side of all the turbines they were discussing in the program. Whose benefitting from Obama's "VISION"? Maybe the Dem's have done us a favor. Now that voters are becomeing educated on how destructive the Dems energy policy is to the economy and the every day lives of Americans we will be able to use our natural resources in a way that stabilizes energy prices and heals our economy.

    35. mike says:

      Interesting article. I guess if we are gioing to be technical, gas price were as low as you say, JUST before bush left office. Towards the end of his run gas prices were as high as they are now and even when above $4 per gallon while he was president. If you're intersted in telling the truth then I'm interested in listening. If you want to twist the truth and leave out data that contradicts your statement then I have no reason to believe anything you say. It's obvious that you are right wing and that you go along with their fear mongering method of govenrment. I just think it's a shame that we have so many sheep that will blindly believe anything they here as long as it promotes their already warped view of reality. Keep up the good work and we will continue to get nowhere as a country.

    36. Benjean Rapp says:

      Prices here in the mid part of WV are 3.25 for 87octane…The United States would be bettered served to use the natural resources right here …..Gas and Coal in WV is abundant…Drilling on our shores and more drilling in the Montana's and Alaska. Both parties can meet on this and come out win win….First and foremost the People of the United States…Personally I believe, the Obama policies are to kill or increase the price so much that we are all dependent on Government, not individual pursuit of economic freedom.

    37. Corky, Howey in the says:

      This administration is dead set on killing this Country. Sense taking office obama has lied to us. He pushed through a job killing sorry health care bill, against the majority of the peoples wishes. He has purposely defaced us before other countries. He is creating turmoil within the states by saying the Governors are wrong this or that He finds it OK for democrates to run from their resonsabilities but says it's OK for us to pay for abortions with tax payer money.The man was brough up to hate the US and what it stands for. I hope and pray that all the good people in this Country turn out to vote this fool out of office next year!

    38. Jean Arthur Traveler says:

      See item #4. It appears we have a dictator in office who does not obey the courts. Also note his Obamacare rulings.

    39. Mike Phoenix says:

      We are sitting on the largest oil reserves on the planet. Even the USGS says so. We have more oil in Montana, South Dakota and North Dakota than they have in Saudi Arabia. Why do you suppose we aren't drilling in the U.S.?

      http://www.usgs.gov/newsroom/article.asp?ID=1911

    40. Leon Lundquist, Dura says:

      It is clear to me Obama and his gang of Demolition Plutocrats are Representing Foreign Interests. The nation best positioned to benefit from Obama's 'energy policy' is Russia! It has never been in the People's interest to shut down our Oil Industry! Yet Obama has done it and at the same time he was lying about it! I say it is illegal and treason to destroy America!

      Why can't the House call it? Impeach them for High Crimes!

    41. Sandy, UT says:

      Prepare for the gas lines of the Jimmah Carter administration. Lines to the gas stations were miles long. Often folks would arrive at the pump just in time to find out the station just ran out of gas. Talk about road rage…that is where and when it started.

      Which lie does Obama want us to believe? current prices are due to BIG oil companies and the price gouge OR….we haven't enough OIL in North America to meet our needs.

      I wonder how long the LIBS and the Dems will be quiet when the trucks stop bringing food to their local grocery store. Food and other commodies/shortages are just around the corner people.

      Will it still be Bush's fault?

    42. Bobbie says:

      Can't trust a democrat to keep their promises. In fact you can't even trust a thing they say. We're suppose to look away from the faults of democrats while everyone else is held to their words democrats distort. It was the promise of democrats specifically pelosi that claimed they would bring down gas prices. I think that was in 2007? Campaign promise? Even electric cars have material mfg'd with oil. Without the president's mindset and those with the same, we would have been over the Bush (run democrat majority) errors.Obama keeps the good of America on the brink because although we as the people gave him no reason to, he resents us. Obama could change this now.

    43. Lloyd Scallan (New O says:

      Great points, but you forgot one. Obama is doing all of this delibertly! He is delibertly destroying our capitalist, economcial system so he can replace it

      with his socialist society.

      And James Tyler, I too live in Louisiana so may I suggest moving some place else! That is if you can afford the gas to get out and avoid all of those toxins that is shortening you life before you keel over. Most of us here are doing just fine and sure as hell don't need you.

    44. YA, Washington Coast says:

      Why are we not drilling more in the Gulf of Mexico? It's simple, really: the oil companies cannot be trusted to utilize proper safety precautions or exercise common sense when building their exploratory rigs. They cut corners in order to save money instead of using building materials that met safety requirements, which resulted in the Deepwater Horizon disaster. Ask the people who make their living along the Gulf coast why we're not allowing more exploratory drilling in our coastal waters.

      Fix your cranial rectal inversion problem and start looking at the bigger picture! If we had spent the money to invest in alternative energy and fuel 20 years ago, we wouldn't have to worry about how greedy the oil companies and OPEC countries are. Despite all of the goings on, the oil companies are STILL rake in record profits, yet you Yahoos still want to put more money into their pockets rather than invest in clean energy.

    45. Mike, Detroit, MI says:

      Lets build some refinery plants on top of our great countries oil reserves. Bill the taxpayer for the production of gasoline, and sell it for what it costs to manufacture!!!! The private secter is screwing us with record profits during this recession period, so why wouldn't WE, the taxpayer build our own refinery and bill ourselves and save $2.00 a gallon, or more?

    46. Quent says:

      WHY WE ARE NOT DRILLING OUR OWN OIL & gaining those JOBS ??? obama ,obama, obama, EPA, EPA, EPA, EPA !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    47. K.A. Schamber, San D says:

      Of cvourse, he has to take care of his buddies in OPEC.

    48. rocco palmisano says:

      this manshould be impeached now. just think about how much more damage he can do with two more years as president.

    49. Casey Pickens Middle says:

      To Tyler in LA.

      Why don't you move to Africa where the are no carbon emmisions! We do have the worlds largest economy and we need cars and warm houses to sustain that economy. Oil, gas, natural gas, auto companies, provide millions of jobs for America and when gas prices go up to $5 a barrel and those people get layed off we will thank people like you that only care about the trees and cant seem to see the big picture!

    50. Dag Johansen, Menlo says:

      One thing to know about this list . . . no matter how much we drill domestically, we will still be heavily dependent on foreign oil. We import nearly 2/3s of our oil needs. We simply do not have domestic reserves or resources to meet our demands. USA's Oil production peaked in 1970 and no matter who was in office, domestic production has been declining since then.

      So don't get any delusions about 'solving' oil problems with domestic drilling. All that will do is burn up what little we have left even faster so we become even MORE dependent on foreign oil. The physical realities of geology trump political squabbling.

    51. Mac, Illinois says:

      The only true tangible items that America possesses in mass are intellectual capital and the freedom to deploy said intelligence. These uniquely American aspects, dare I say the embodiment of the American condition, are the catalyst and platform to our future. So what is or should be that future…in light of the subject matter it boils down to three aspects: energy, food and potable water…which are the essentials to all civilizations.

      The simple reality is that a focused effort on these three core aspects can be the catalyst to re-establishing the commerce of this country thus promoting investment initiatives that will drive the world forward in the 21st century. These same elements, albeit deployed in different dynamics, remain the same today as they were 100 or a 1000 years ago. Yes we have found convenience with these elements in the later 20th and early 21st centuries, but they still remain the focus of our efforts. Is it completely improbable to think that this county couldn't develop alternative energy sources, produce a smart grid, find renewable recourses that would not deplete water resources, and harness means to produce crops that could go well beyond feeding the world?

      This is not polyanic thinking nor should it be considered such…and the way you overcome the stigma of such a belief is to translate the thoughts/ideas into executable game plans that will drive the realities of open markets…and that is investment return. If the profit incentive is present then the initiatives will be pursued. The bitter reality is the lobbyists and political powers that propagate the energy policies of this county and the world will not relent, which is why the battle appears so daunting.

      The Governments role is not to manage its citizen but rather to manage the affairs and interactions of its citizen and those nations that interface with said population. The last time I checked our nation was established as a republic and the significance of the individual was not set aside for the benefit of a union, business, corporation, agency or government body…those are merely the vehicles for how the population promotes its commerce and governance (understanding that that statement is generalized). In the end, as I previously stated, the essence of America is our freedom and without it most of the advances that the world now enjoys would have never seen the light of day without having such freedoms. Yes these freedoms have come at a cost and blood has been shed and lives have been lost in the support of the ideal…and yes it can be stated that our own leaders have exploited those pursuits and breached the public trust…but the Constitution still stands.

    52. The Rouge Element NC says:

      This is Obama's plan. Have oil/gas prices rise so that he can sell his alternative energy policies at a time when Americans will be looking for anything that will provide relief. At depserate times, desperate people will accpet anything. Even though we all know that the Obama alternative energy will not be enough to support the economy of this country. We are in for a long hard course until Obama is gone or the people get so fed up that Congress acts and has enough support to overide a veto.

    53. K.D. Anytown, USA says:

      What you forgot to add is Obama is happily killing the oil industry in the U.S. while all other nations are growing theirs. He & the Democrat party stand to gain immense political power and wealth from forcing the use of new energy sources they have invested heavily into with our tax dollars at the nations economic expense.

    54. we3kings! says:

      Hey did everyone hear? The President told middle east, "this violence must stop!" So my question is…is that his way of putting terroristic countries in time out? Gee- I don't ever remember a "time out" working on children, which is why we have undiciplined murderous little turds running around the U.S.- What in God's name makes him think it's going to work for them?

      Dear Congress and President-

      Jobs- Really dude? You were elected with the promise to INCREASE jobs…guess I need to take my dyslexia pills cause I see the unemployment numbers rising…not decreasing!

      Economy- I distincly remember several times through my recent years that the Oil reserves were opened to help alleviate the price at the pump for Americans- Good grief, if the Middle East can have FREE gas days then why can't we have a little push as well? Oh wait that's right I speak 1 language and it's not the one that is seemingly favored by our "government" now days is it? (Durka-Durka…how bout now?)

      OPEN THE RESERVES, USE AMERICA'S RESOURCES, DRILL FOR OIL IN THE GULF AND IN ALASKA! AND STOP RAISING OUR TAXES!

      I can definatly see how you are optimistic on your re-election (that is still not close enough for many of American's) My only regret is legally I couldn't vote twice as I voted for the other guy!

      To all reading- God Bless- my family and I wish you all the best of luck in preserving your way of life- Lord knows we can't struggle any more than we are!

    55. Joe Polunc, Minnesot says:

      People the added pressure of the Mideast turmoil is only highlighting the fact that we have NO energy policy. The closest we have is to provide more subsidies for junk alternatives such as windmills, solar, ethanol & buying more CFL's. This is a contrived effort to raise energy costs to make alternatives more competitive. We have to hang on for the 2012 election cycle in order to correct the mistakes we have made.

    56. Spiritof76, NH says:

      You forgot one more thing. Printing money by the FED and devaluing the dollar. I am suprised that the oil producing countries have not insisted payment in other currecy or gold. When that happens, forget the $5 a gallon. It would be more like $10.00 a gallon.

    57. Mike, West Texas says:

      What in the world would it take to begin a movement – wrapped in solid facts and examples from his actions, videos and books – to IMPEACH this destroyer of America?!!??!!?? We can NOT survive if he is allowed to continue. 2012 is still far off.

    58. treehugger, MA says:

      I really can't believe how short sighted so many people are! Can't you see that oil is just not the way to go. Was the oil spill in the Gulf really not enough of an eye opener for so many ignorant people? And if we were to have an oil spill off the coast of Alaska, I can damn well tell you that no one will be plugging that one! Will you continue to risk the health of people and this planet just to have cheaper gas for your cars? Who says we need to use oil at all? There are so many greener technologies out there that would provide jobs for many and clean air for all. Open your eyes! If this country developed green technologies (that already exist) we wouldn't be bowing down to the oil czars. Even Dubai knows that oil isn't the answer, they are already creating green energy technology. The US needs to wake up and be the leader, or bow down to the countries that do develop new green technologies. I don't know what Obama is up to, but I certainly hope he is heading in a greener direction. I'm glad he hasn't allowed drilling off the coast of the USA.

    59. Mike, Michigan says:

      PEAK OIL! That is nonsense, a leftist talking point. We are swimming in oil, the Bakken range has billions of barrels. Alaska still has huge reserves including ANWR. The Green River area in Wyoming is said to have 13 TRILLION barrels and that is not including the billions of barrels they have found in Utah and other areas of the South West USA.

      Our biggest problem, other than Obama, is lack of infrastructure, like pipe lines and storage facilities along with the fact that we have not built a new refinery since the 1970s. And then we have the Valero Big Springs TX refinery that blew around two years ago, I do not believe that they have that refinery up and running yet.

      We have hundreds of years of oil and natural gas supplies here in the states, the latest reports have our total reserves greater than the three largest oil producers in the world combined. Our problem is that Marxist American hating pig in the White House that is hell bent on destroying our country. When he goes, we might stand a chance, if there is anything left to save.

    60. Karen Grube, San Die says:

      We need to start full-out domestic drilling NOW. Call your member of Congress and tell him or her to get this done. This can't wait! Seriously, just call and tell the person in your Member's office that you strongly support increased domestic oil production and that you will hold every member of the House accountable if gas prices go over $4 a gallon. This is unacceptable, and it is even more disgusting of the President to be putting regulatory roadblocks in the way! I too hope he can be impeached for all of the damage he's caused to this country. So, you can also tell your Member of Congress that you strongly suggest the House should look more seriously at impeachment.

    61. P. Meske says:

      Self sufficiency does not fit in with a plan to turn a superpower into just another U.N. lackey state. Obama is a Socialist, and one world order is a Socialist cornerstone. Great powers come crashing down when their economies go to far in disarray, their abilities to self sustain become ineffectual, and its government becomes wholly absorbed in building up itself, and not its people. It took the Soviet Union 70 some years to come crashing down from those practices. We might pull it off in less than a decade, especially if we're stupid enough to re-elect this Chi-town anarchist…

    62. Joe Polunc, Minnesot says:

      The lack of a responsible energy policy in the US becomes more glaring when these international events heighten anxiety over the free flow of oil. You only need to look at the market prices to see the effects. While we seem to be mesmerized by renewables, they lack the availability and can only stay afloat with massive government subsidies. Ethanol is the biggest culprit.

      We have the technology and skill to harvest our natural resources in a responsible fashion. However the Federal Gov. and too many enviro wacko groups continue to block implementation. Their agenda is not so much to protect the environment but to decrease the American lifestyle to that of a second class nation.

      We must strive to defeat these ideas and groups both in the daily debate and at the ballot box. We are better than that.

    63. kevin, wilmington says:

      The so-called media ignores these well articulated points and simplistically sites possible supply disruptions causing the increase in prices at the pump. No historical perspective, no mention of speculation etc. They are so in the tank, they are undeserving of Constitutional protection. I am an investor in several domestic oil projects (on-shore), and I am disgusted by this administrations handling of most things, but this is a pure ideological play.

    64. Sig, Florida says:

      We have more coal than any other country on Earth. During WWII Germany used a process to turn coal into oil. I think that the US could probably improve on a process that worked 70 years ago. And we would not have to depend on foreign oil. There are also the Bakken formations that contain Billions of barrels of oil right here in the US. But the Obama admin won't allow companies to extract it. Just like we still have the so-called "windfall profits" tax on oil companies that Jimmy Carter signed into law, taxing domestically produced oil at a much higher rate than imported. And who can forget the environmentalist extremists running the EPA who rule and regulate companies out of business. THAT is why US oil production peaked in the 70's, not that we are running out, the government makes it nearly impossible to drill new wells and make a profit. Know what the single biggest cost of a gallon of gasoline is? Physically getting it out of the ground. Second biggest? Direct government taxes.

      As for "renewable" and "green" energy, there is a reason we don't use them. You don't get enough net energy out of them to justify the costs, and they are not reliable.

    65. W.B. Travis - Texas says:

      Wonder how much news a (R) administration would make if it were held in contempt of court? My guess is more than a blog post at Heritage.

    66. Tim,Grafton,WI says:

      It seems that the Obama policies are deliberate. Green this and green that, only sounds good in theory. Here in the real world, oil is a necessaty. Why isn't the administration being held in contempt of court and repremanded accordingly. The cost of windmills is unreal, like over $1 million each, and then every 6 years, needs parts and maintenance to the tune of over $400K. He has admitted that anyone trying to open a new coal power plant will be losing money, he promises to tax and regulate them to death, yet they produce 12000 gigs of power. A 40 acre solar panel farm, only 1 gig, plus what are the continued maintenance costs and what about a hail storm, tornado, huricane… lastly, isn't the entire global warming theory been proven a hoax. This administration is an embassasmnent, and the only agenda I see is to destroy our lives and our great country. Time to think about the 2012 elections and make the appropriate changes before we are a dictatorship confined to our homes and waiting in line for food. At least with Bush, America had respect or a fear factor. Drill baby drill i say, and see where this joker stands than. It took ten days to say a word about Lybia and than didn't call out Gaddaffi by name, how many barrels of oil is that before he takes any action. Just sayin'!

    67. Elizsbeth, Pa. says:

      Propoganda by the oil interests. Blame these rediculous prices on the

      drilling ban. Convince people that the prices would go down if these companies could get at all that oil. The truth is that the greed that they are diseased with would never lower the price of oil. They can ship it overseas and keep their profits at the same oppresive level.

    68. Pingback: 10 Things You Need to Know About High Gas Prices and Obama’s Oil Policy, # Top Activist Admits Pro-Abortion Movement Losing | Pitts Report

    69. Michael Barth says:

      Yes, and don't forget that the Obama administration brought the swine flew from Mexico and he was responsible for the earthquake in New Zeland and the big flood in the Philipines and that flood that Noah had so many problems with and I bet he was responsible for that thing with the apple and Eve.

      You are onto something man, keep going, we'll get them !!!

    70. Jimmy Crackcorn Kraz says:

      so you guys think Obama controls oil prices and has some crazy plan to destroy America? Well, no president has any control over world oil prices any more than anyone else. If you look at a graph of the price crude oil you can see that it has been raising for several YEARS! This is because the world oil production peaked in 2005 at 85 million barrels a day and has remained has remained flat. The planet can't produce much more than that. But world wide demand has been soaring. This isn't an American problem, this is a world problem.

    71. J. Pennsylvania says:

      I read this site often and I am truly amazed at how stupid people are. The increase of oil prices is NOT Obama's fault nor was it the fault of George Bush. Supply and Demand- the simplest concept of basic economics. We are not the only people using oil at this point. Let me put it in words many of you can understand. It's Christmas and you are at the local Wal-Mart to buy the latest version of the Elmo doll. They are out of stock, so you head to E-Bay to buy it. Do you think it will still be $29.99? No, because there are others who want it just as bad as you do and there aren't as many available. Now Elmo costs $100.00 or more. Unfortunately for Americans the largest deposits of oil are located in or near hostile countries. Nearly 63% of reserves exist in the Middle East. This is not propaganda but fact. With that being said we will feel the pain at the pump when something happens in that region.

      Stop complaining about gas prices. This is the new norm-all over the world. In the past we were one of a handful of developed countries using oil. Now, we are one of many developed and developing nations using oil. Remember we want globalization because it means cheap products, and low costs for businesses. That money is fueling their economies allowing them to compete with us for the use of oil and other natural resources. So as much as some would hate to realize the cost of products will increase at one end or the other. I guess it would have been a better idea to keep production here, increase the consumer price, and keep our place in the global economy and more control over oil distribution.

    72. Ralph, VA says:

      I have never seen a site (+ comments) so disconnected from reality. And that includes Prison Planet & World of Warcraft! If we had listened to Jimmy Carter in the 70's, American presidents would no longer need to have have an "Oil Policy."

      Very sad.

    73. Pingback: » Sunday Weekly Summary MySquawk

    74. Cooper Lilly Louisvi says:

      Check out the Bakken in the Williston Basin. If only more people knew about this.

      Oil is there ready and waiting!!

    75. John, New Orleans says:

      I really cannot believe that out of all these comments only one of you mentioned the BP Oil Spill. Did you all forget already?

    76. Cheryl Jones says:

      Thank you for the research that you do. You keep this conservative nation informed and aware of the abominable tricks of this administration.

    77. Mark M. Moore Chilto says:

      I new there was something funny going on, your article was very informative, I wonder if this regime thinks we're all wealthy or just wants everyone to convert to alternative fuel use.

      I personally think the conversion, if so, should be made affordable to all, as well as converting our homes as well, we need to quit depending on foreign countries and their regimes.

      I have a renewable energy blog at http://www.renewable-energy-reviews.com/blog/ and renewable energy conversion is my goal, to help erase this giant carbon footprint, in which we're all being stepped on.

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    81. David Hambleton, Pri says:

      Well done, Rory! Thank you for shining the light of truth on these Progressive weasels.

      David Hambleton, USN – Ret.

    82. Dondee, Georgia says:

      Yes, there was an oil spill, but was the spill due to the fact that BP had to go out so far that they had to drill 5, 280 feet underwater? Did that have anything to do with how hard it was to cap the leak? Yes, negligence on their part, but also think we can place some blame on the far left environmentalists that want nothing more than for the US to be a mediocre country. We have the resources, why not use them while working on alternative fuel sources AND the INFRASTRUCTURE to support this new fuel source?

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    84. Maury Needham says:

      Great article, but the mentality of the writting continues to follow the Obama mentality, as well. Never once was our 200 years of a natural gas reserve mentioned. What are we all thinking. This country needs many sources of natural energy. We are light years behind the world in applying natural gas to our transportation sector.

    85. Tai Kaliso says:

      I do seem to recall gas prices in 2008 being around 4.15 a gallon. That also must have been Obama's fault. So nice that dems and repubs are so interested in blaming the other party for whatever the problem is instead of working together to find a solution. While they bicker about who's fault anything is, the american people keep getting the shaft. Whoo hoo!!!!!! Lube up and bend over folks!!!! Government, oil companies, insurance companies, banks and so many others want us to call them bubba!

    86. Tammy, North Carolin says:

      I think things are really bad. Budget cuts, Our jobs sent to other countries, more jobs loss. Our children's Education, Crime, Gas prices, Wars, etc. I think we should fire all the leaders in our country. There is so many of them and what are they doing for us, the people? We need to start from scratch. Get men and women in office that don't come from MONEY. GREED is killing our country. Our leaders need to realize what they are doing us, The People. Heres a good budget cut, Lets stop paying them for doing nothing for us, the people.

    87. Gino says:

      I stopped reading after #1. Did you forget about the HUGE RECESSION? I'm sure that didn't affect oil prices at all. Jesus Christ.

    88. Janice,Minnesota says:

      I am not well-versed on this subject but I had heard that most of our oil comes from Venezuala, not the middle east. Someone correct me if I am wrong.

      Also, is the price of gas really going up or is it that the admin. is devaluing the dollar. I have read that an ounce of gold bought x amt. of gas 10 yrs. ago and an ounce will still buy that amount now, or a bit more.

      And, why do people buy GM cars? Let the unions buy their own cars!

    89. Pingback: The $4-Per-Gallon President – Sarah Palin : USACTION NEWS

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    91. Rachel, Minnesota says:

      Gino, agreed! I can't believe they are blaming Obama for everything! Typical conservatives. They try to put the blame on Obama to hide the fact that the righties pocket all the profit…yeah, the big oil companies are headed by the super right conservative republican jerks! Quit pinning your bull on the liberals so you can line your own pockets and take the attention off of yourselves! For the love of GOD! Why dont you quit the blame game and come up with a freakin solution already! We cant drill our own country because we only have enough supply for a couple of months. And Obama isnt ruining our economy, the wealthy are by being greedy and thinking they always need more money! Why dont you try helping out those less fortunate and start putting your dollars into the defecit. You big dummies.

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    95. St. Paul, MN says:

      Are you people dense? It is NOT Obama that is raising gas prices. The way that it works is this thing called the stock market. The people on the stock market get to make "bets" on what the prices are and then companies like Exon get to charge the prices that the people in the stock market "bet" on. Come on people take an economy class!!

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    106. dave says:

      Do not believe a word that Obama says not a word.
      Obama, George Soros and Obama’s czars are destroying American a piece at the time. That is their agenda; this has been the plan for many years.
      WAKE-UP AMERICA
      Get on the net and find out all you can about Soros, the ties he has with Obama.
      DO IT BEFORE IT IS TOO LATE AND GOVERNMENT HAS TOTAL CONTROL OVER YOUR LIVES.
      Do your home work before you vote in 2012

    107. Chaotic Serenity says:

      What is it like to blindly stumble through reality — experiencing nothing as it is — while knowing that absolute truth and reality are unequivocally proven valid by the shared conclusions of the enlightened souls that one calls friends, family, and blogging companions?

      I leave you with three sayings, that pondered upon and actuated, may help a precious few change the glasses that are worn:

      "There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy."
      - William Shakespeare, Hamlet Act 1, scene 5, 159–167

      "Collective fear stimulates herd instinct, and tends to produce ferocity toward those who are not regarded as members of the herd." – Bertrand Russell

      "Know Thyself" – Greek Origin (see: Temple of Apollo at Delphi)

    108. Great article. However, I don't see ANYONE providing answers to my questions below. Will you address these?

    109. So, true. Have suspected it from the beginning. It's all planned. Not a surprise at all.This is his CHANGE he was talking about FORCEING Americans to switch over to alternative fuel and at the same time make money!

    110. matt clark says:

      Most of these crazy liberals think an electric car will solve all environmental problems and bring down fuel prices. It seems that most do not have any idea how electricity is made. Close down the diesel, coal burning and nuclear power plants and rely on your solar panel and wind mill to power the electric car that you can not afford anyway! It amazes me that so many people believe this guy is a actually out to help the public. The new boss is looking even worse than the old one!

    111. Sam says:

      Bunch of lies, no to more drilling yes to more alternative energy! Obama bashing is popular, but I love my country more, I'm not going to let it be hijacked by oil companies.
      Obama 2012!

    112. Jim says:

      "The day before President Obama was inaugurated; the average price of a gallon of gas was $1.83. Today, that average is $3.14."

      Um…gas was $1.83 a gallon when Obama took office only because we were purging over 700,000 jobs a month there buddy.

    113. Vince P says:

      Very rarely if ever do you need to capitalize A-hole. In this case you do. America, like the rest of the developed World were created using Fossil Fuel's. Right now Fossil Fuel makes up 86 % of primary energy sources worldwide. Obama thinks he can wean a 236 year old Country off Fossil fuels in 8 years. His NO DRILLING, and alternative energy policies have driven oil prices through the roof. And scared the shit out of Big Oil. Since "unrest" in the middle east has been going on since about 831 BC. Anyone who thinks Oil prices are a result of middle east "tensions" also get a capital A.

    114. Shenel Terese says:

      Petition to lower artificially elevated gasoline prices
      Gas prices have been inflated artificially. Us for the US has posted a petition to be sent to Congress that makes a good deal of sense. You can read, sign the petition, and verify your signature for your elected representatives by going here
      http://ourvoicesforchange.com/index.php?stage=vis

      The petition, upon completion, will be sent automatically to every federal elected representative of every signor. You will be asked your address when you go to sign the petition, so that they can determine who your elected representatives are. You will also be made an observer/member of OURVOICESFORCHANGE.com so that you can follow the results of the petition, and see if your elected representative took any action on the petition.

      Obviously, the more signatures gathered, the higher the probability will be that our elected reps will take action on our behalf. Please help circulate the petition by posting the link on your social media pages, such as Facbook, Twitter and Linkedin.

    115. chazzej says:

      what a racket!!!we vote in a "neebie"(obama),and look what we got!!But all the politicians in the government need to go too!!In order for anything getting done there,all politicians(house and senate)have to approve it!stop just blaiming the Prez!!!Its all our faults for continually putting in the same GOOFS in office!Time to tell them all,NO more same political ways!!!Clean them ALL out!!!

    116. Guest says:

      The level of complete blind ignorance expressed in this piece and by those here who seem to support this stand is pathetic. Don't let the historic global economic and free-market facts about what truly does and doesn't drive US gas prices get in the way of your ranting pleasure. Thank god you have each other to talk to. Ignorance is bliss.

    117. Night Moves says:

      The argument simply does not hold water. Who ships over 600 million barrels of petro over /seas each year…Obama? Who decides to raise gasoline prices to $5 a gallon…Obama? Who regularly caps petroleum discoveries in order to sell them at better prices in the future…Obama? It makes no sense. American drivers are the one's who suffer under the thumbs of US oil producers and they are beginning to connect the dots! There isn't a marketing model in existence that could sway public perception of the oil industry. Most would rather jerk millions worth of tax incentives from them and hand it to developers of super electric batteries. Ask yourself this: when did the first jet aircraft find its way into US air space and how long was it before they were taking over the airline industry? Strangeness of the situation is that petroleum is in the process of becoming a dinosaur…ironic, don't you think?

    118. Realistic says:

      …all of this would be perfectly reasonable, if additional drilling in the U.S. would actually effect oil prices. The amount of oil that the U.S. has in the ground would hardly make a dent in global oil supplies. Oil pricing is part of an international commodities market, not a market based on local goods and services, so arguments about local jobs have nothing to do with pricing, rendering much of this article moot.

      Now to address the points in this article that do not have to do with oil prices. The U.S. uses about 20 million barrels of oil a day and in our grounds, we have about 50 billion barrels. The world produces close to 90 million barrels per day. You can do the math yourself, the amount that we have in our grounds, if it was magically given solely for use by the U.S., would only last us a bit under seven years. Doing a simple cost-benefit analysis of the net losses of oil production would point towards much further drilling as being disadvantageous.

      Either way, seems most people are forgetting that oil is a finite resource, and thus there's a limited supply regardless of U.S. drilling decisions, whereas the demand is currently infinite. There is absolutely no way to argue with that. No matter what, prices are going to continue to rise, and it's because no matter what, the supply will continue to dwindle in relation to the demand, unless we do something to curb demand. It's that simple. And it's sad that politics of divisiveness have gotten in the way of allowing us to work together as a nation to prepare for this inevitable reality.

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