I doubt it would affect prices much. It will stabilize the market because we would be less dependant on foreign oil so that should help. However, we still need to refine it and they are operating at about max now from what I gather. So supply will still not be up to demand and THAT is what sets the price, as well as opec.:D of course they would be less of a factor. Regardles of where the oil comes from, it will sell at MARKET VALUE. The demand is not going away anytime soon so the oil will still have a premium price. sent from my samsung note 2
The biggest affect a president has on gas prices is in time of crisis when they open up the reserves and increase the supply. Therefore, lowering prices but beyond that , not much they can do. Of course they play a role with foreign policies and operation costs (taxes) and such. Taxes on gas is what should have people up in arms. But I'm in agreement with the premise of this thread. If it were a Republican in office right now, the media would be all over the price of gas and oil. sent from my samsung note 2
Oil companies don't have a high percentage profit margin, pretty low actually. http://m.seekingalpha.com/article/269679 sent from my samsung note 2
Are you sure about that? Here is my basic understanding of that situation....TransCanada wants to build that pipeline so they can sell more oil internationaly via exportation from the gulf coast. Many actually predict gas prices to increase in the Midwest if or when the pipeline is built. The US wants them to sign an agreement to supply all the oil to them but TransCanada does not want to do that.
Regardless of whether or not the president has any control over the price of gas, the high gas prices are right in line with his agenda for this country. He has and will do nothing to discourage the extreme inflation that is occurring in this country. Every dollar more we spend, is more tax money for them to waste. He talks about raising taxes on the rich, but not on the middle class, but it is clear that he doesn't truly believe that but he is smart enough to know the majority of Americans are to dumb to realize what he really want. He want a giant government that controls every aspect of our lives. He thinks the federal government knows whats best for everyone and want to make those decision. He is clearly becoming one of the worst presidents in our nations history and he is abusing his powers as the president to further his personal agenda. He know's the media will never put pressure on him, and that basically gives him a free pass to do what ever he wants because the American people are going about their lives oblivious to the destruction of our country.
Its pretty complicated. The spike during Bush was due to refinery slowdowns from 3 hurricanes. Today, shutdowns and closures for other reasons are keeping refining costs high. We are producing a lot of oil (despite Obama fighting it on public lands) but are also, due to economic factors in the US ("thanks" to Obama) exporting much more of it as it makes more money doing so vs using it here to drop the price. Oil and new refineries are not wanted by this administration. That allows exports to be much more desirable. The awful economy (again, thanks Obama) makes it even worse. Don't expect much recovery, all the administration wants to currently do is shred the constitution and enact socialist policies, not fix the economy.
I just got back from town, and it was $3.90. Right when college kids go back home or go on trips. Convenient, eh? Going to the G2G this year will be awesome gas wise.
What I can recall about the spike during Bush presidency is a barrell of oil spiked to around $150. Right now they are hovering between $90 and $100. I know refinery capacity has more bearing on prices than crude does but I distinctively remember the buzz on crude prices. I do not think it matters who the President is, however we currently have a president who is in favor of even higher fuel costs per his statements from a few years ago.
