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
In 2011, for the first time since 1949, the U.S. EXported more petroleum products than it imported (by 439,000 bbl per day). 2012 is also expected to be an oil surplus year, as is 2013.So why are we talking about unlimited drilling and accepting the associated environmental costs for this all out...
by flacoinohio 5 years ago
What do you think about oil companies lowering the price of gas just before a Presidential election?There was a small statement made by Mitt Romney about the price of gasoline being $4.00 a gallon during the second Presidential debate last evening. The price of gas in our area dropped 20...
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?
by Brian 7 years ago
This may not be news to a whole lot of people, but, I am getting sick of this. Why isn't the Government doing anything about it, especially when they know that it is killing our economy? Not, to mention that we are fighting wars over it, only to have the countries we are "Aiding" are...
by CMHypno 8 years ago
Obama's attacks on BP are increasingly being viewed in the UK as signs of his anti-British stance. Or is he just trying to pull attention away from his own administration's failures?http://www.dailymail.co.uk/news/article … itain.html
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|