Do you think it is fair that current gas prices are high due to oil products being exported?
Gasoline and diesel fuel production has increased, there is a surplus of gas, diesel fuel, and other oil products that are being exported to other countries for more profit due to this surplus. Oil companies are intentionally reducing the available oil based products to keep prices high for American consumers while still making a profit selling the surplus oil products over seas.
Prices are high NOT because of exports. Prices are high because Obama lacks a pro-oil exploration energy policy and the fact that Libya has been taken off line due to Obama's nation building and Obama's lack of conviction in dealing with Iran. All of these factors produce uncertainty and provide speculators the opportunity to drive up prices.
In addition to these factors oil companies cannot get permits to drill, federal lands have been taken off limits, Obama is talking about taking "tax breaks", and they are tax breaks not subsidies like Obama claims and they are tax breaks ALL companies get, away from Oil companies. There are also far too many "grades" of gasoline for different cities, counties, and states. Eliminating all the grades would lower gas prices $1.00 per gallon.
Also there is the matter concerning the issue of speculators whereupon one trader can control 30 percent of the market. The commodities regulators could impose a 10% max holding for any individual traders.
I intentionally left out political factors when I posted this question to see what kind of responses I would receive. As usual the facts that usually get discussed are pure politics and should be about why oil companies can be allowed to inflate fuel prices at will. This has been a problem long before Obama,the present Middle East issues, and environmental constraints to drilling and fuel standards. So oil companies are victims as well even though they are making record profits?
by Gary Anderson 6 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto … rum-2012-3Here is my response. We can thank libertarian thought for the...
by Hugh Williamson 6 years ago
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by flacoinohio 5 years ago
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by kerryg 7 years ago
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by Doug Hughes 7 years ago
When gas prices were going up, Wingnuts were tripping over each other in a rush to blame the president. Even though he had nothing to do with it.President Obama ordered a release of strategic reserves. Prices have dropped over 50 cents per gallon in Florida.What do we hear now?
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