all threads All Threads ›› Michelle Bachmann = $2 Gas. ›› new reply Post Reply
joey.

Means to an end
13,569 Posts
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August 18 2011 11:41 AM   QuickQuote Quote  


click here for link

NEW YORK (CNNMoney) -- President Michele Bachmann has a promise: $2 gas.
"Under President Bachmann you will see gasoline come down below $2 a gallon again," Bachmann told a crowd Tuesday in South Carolina. "That will happen."
Sure, politicians promise all kinds of things on the campaign trail. But Bachmann, a leading contender for the 2012 Republican nomination, is wading into truly tricky territory.
The price Americans pay at the pump is tied to the crude oil market -- a global system largely beyond the reach of Washington.

It's certainly true that prices -- now about $3.50 a gallon on average -- have risen since President Obama took office.
"The day that the president became president gasoline was $1.79 a gallon," Bachmann said. "Look what it is today."
Of course, that's not the full story.

When Obama took office, the country was mired in a terrible economic contraction.
"That was in the 4th inning of the greatest recession of our lifetime," said Tom Kloza, chief oil analyst at the Oil Price Information Service.
During recessions, demand for gasoline plummets as trucks pull off the road, companies cut back on travel and laid off workers drive fewer miles.

"You have to be careful what you wish for because the recipe for cheap prices these days is economic disaster," Kloza said.

Since early 2009, the economy has recovered somewhat and demand for crude has risen. It has even spiked in the developing world -- especially in China, India and South America.
Kloza said that increased crude demand is the principal driver behind higher gas prices.
"We're going to have to recognize the rest of the world has this increasing appetite for oil," he said. "If we go below $2 a gallon, it probably means there has been a lot of wealth loss and we are in a deflationary period."

There are some measures that could be taken to lower gas prices, according to Phil Flynn, a senior market analyst at PFG Best.

A stronger dollar would take pressure off prices, and reducing the number of miles Americans drive in gasoline-powered cars would also weaken demand.
"I never say never," Flynn said. "But whether or not Bachmann can do that in four years is a tall order."

Bachmann did not lay out a specific plan to drop prices on Tuesday. But her campaign website says that as president, she would ease restrictions on drilling and roll back federal regulations on the shale gas industry.
While increased oil and gas drilling in the United States may create good-paying jobs, reduce reliance on foreign oil and lower the trade deficit, it would have little impact on gas and oil prices.

Drill baby drill won't lower gas prices
That's because the amount of extra oil that could be produced from more drilling in this country is tiny compared to what the country -- and the world -- consumes.
Plus, any extra oil the United States did produce would likely be quickly offset by a cut in OPEC production.

According to a 2009 study from the government's Energy Information Administration, opening up to drilling areas off the East Coast, West Coast and the west coast of Florida would yield an extra 500,000 barrels a day by 2030.
The world currently consumes 89 million barrels a day, and by then would likely be using over 100 million barrels.

After OPEC got done adjusting its production to reflect the increased American output, gas prices might drop a whopping three cents a gallon, the study said.
HornieBoi69
schweppes4twomp
1,287 Posts
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August 18 2011 11:43 AM   QuickQuote Quote  
so into dudes
joey.
Means to an end
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33/M/NA


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August 18 2011 11:45 AM   QuickQuote Quote  
also

HornieBoi69
schweppes4twomp
1,287 Posts
8/M/OH


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August 18 2011 11:47 AM   QuickQuote Quote  
i wish i could do as much coke as this bitch
Maryland Matt
still oh so ill
8,438 Posts
37/M/MD


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August 18 2011 11:47 AM   QuickQuote Quote  
Michelle Bachmann = national ban on pornography
brian.
new cocks
145,639 Posts
34/M/IL


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August 18 2011 11:48 AM   QuickQuote Quote  
i looked it up and apparently gas in my area was $1.80 in january 2009? that doesnt seem right at all.
RyanSchwenksville
Stoked,Pumped
11,858 Posts
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August 18 2011 11:49 AM   QuickQuote Quote  
Bachman as president

2 dollar gas
Bomb all Planned Parenthoods
De-separation of church and state
Biblical Apocalypse by 2013
Shostakovich
do svidaniya
6,566 Posts
35/M/MD


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August 18 2011 11:49 AM   QuickQuote Quote  
lol remember when 4 months before Obama took office and gas was over $4 a gallon? apparently this wench doesn't. either way, I'm not sure what she thinks she can do with "small government" in the US to cause low gas prices. some countries pay pennies per gallon due to massive government regulation and subsidizing from oil field profits. I knew this in high school. what's this dope's problem?
LEATHERFACE
Hail Caesar
3,756 Posts
35/M/NC


offline  mobile reply   (7)
August 18 2011 11:49 AM   QuickQuote Quote  
Does anything even remotely good come from Iowa anymore?
brian.
new cocks
145,639 Posts
34/M/IL


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August 18 2011 11:50 AM   QuickQuote Quote  
i dont think ive paid $1.80 for gas since 2002
Shostakovich
do svidaniya
6,566 Posts
35/M/MD


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August 18 2011 11:52 AM   QuickQuote Quote  
Happy Birthday Elvis!
Dickscraper
dickacraper
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August 18 2011 11:54 AM   QuickQuote Quote  
Dianana
8====D
66,450 Posts
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August 18 2011 11:55 AM   QuickQuote Quote  
This fucking cunt.
Tim E. Husk
slavar som djur
19,110 Posts
53/M/NA


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August 18 2011 12:05 PM   QuickQuote Quote  
No worries. She has about as much a chance of wining the primary (to say nothing of the actual election) as Sarah Palin. There is a snowball's chance in hell she could even win her own state, where she is seen as a great embarrassment outside of her tiny, gerrymandered district in the semi-rural northern suburbs of the Twin Cities.



Originally posted by: brian.

i dont think ive paid $1.80 for gas since 2002



Something has to be off with that statistic. I was paying more than that in Florida, where gas is (well, used to be) around .20-.25 c cheaper than in the Midwest.
Sarcastic Existence
SICK GUY
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August 18 2011 12:06 PM   QuickQuote Quote  
I don't know who is more retarded; her or Palin.
cbrickhouse
vanilla gorilla
213,469 Posts
39/M/PA


online     (23)
August 18 2011 12:07 PM   QuickQuote Quote  
yeah, ok
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