So... exactly why isn't gas $5 a gallon right now?

[CanOfWhoopAss]

With all the flooding in the Atlanta area and the southeast, why haven't gas prices gone through the roof? Remember not so long ago when Congress was in republicon hands if a cloud so much as spit near a refinery or major hub gas prices would sky rocket? Can anyone explain why there isn't a major gas shortage anywhere? Not even in the southeast? Any freeper will tell you there is no such thing as market manipulation right? Things that make you say hmmm...

[orpupilofnature57]

1. Because the 12% doesn't need it this Year ,$ 1.85 when Clinton left.

Market Manipulation is the only thing the we've done, for going on 10 YEARS.

[madokie]

2. If one was to ever wonder if a President makes any difference

need look no further than this to see.

[BuelahWitch]

11. Indeed. I was expecting a big spike for Labor Day

Usually would go up .30 or more. But not this year.

[Rebubula]

3. Well...

....for one...the scope is no where near the same. Not even close.

The flooding is mostly located around North Atlanta and suburbs. No major refinerys there and the water is already receding.

[WVRICK13]

4. No Texas Oil Men

in the White House.

[RebelOne]

5. Well, I live in the metro Atlanta area and gas prices

have been holding steady. They are averaging $2.29 to $2.35.

[liberal N proud]

6. For one: Bu$h and Cheney are no long in the White House

Two: The economy would have collapsed completely if prices would have stayed as high as they were.

The oil companies took theirs while they could and now have to back off to protect future profit making abilities.

[BuelahWitch]

10. We have a winner!!

[Orsino]

7. No refineries have been shut down.

And traffic is flowing again after a couple of days of difficulty.

[CanOfWhoopAss]

8. That never stopped them before (eom)

[Xenotime]

9. Obama has been able to keep the prices low.

[vincna]

16. Specifics?

I believe that the ability of any president to manipulate gasoline prices is greatly exaggerated. Can you point to any specific examples of presidential action driving prices one way or the other?

As I see it, the world economy is very weak right now. Much less in the way of industrial and consumers products is being produced and shipped. People have less money and are driving less. Airline travel is down. The result is less demand for refined products on a global level. Less demand = lower prices - it's that simple.

[taterguy]

17. You call 2.50 low?

Where's the dollar a gallon gas we had in the Clinton years?

That's what we need for prosperity.

[scheming daemons]

19. Based on rates of inflation over the past 50 years....yes.... $2.50 *IS* low

[taterguy]

25. Dubious stat: The price of oil heavily influences the rate of inflation

Countless products are made with petroleum byproducts.

Almost everything is shipped with oil.

So if the price of oil was reasonable the rate of inflation would be much lower.

[positrac]

20. Where? In the atmosphere...oxidized.

:shrug:

[FarCenter]

12. Crude oil and gasoline inventories are both up, refineries running at about 85% of capacity

Consumption has been down.

[TxRider]

13. Because the refineries are on the coast, Atlanta, not so much...

Hurricanes in Texas and LA are what shut refineries down anyway, not just rain.

[tammywammy]

14. And it takes a couple of days to shut them down and a couple to get them back online

And when your workers are evacuated it takes time for them to even get back.

*tammywammy - who has family that works at refineries in Texas and knows what they had to do for hurricanes Rita & Ike.

[lpbk2713]

15. We voted out the rethuglicans.

That was a major step in the right direction.

[GodlyDemocrat]

18. Economy's still in a slump

It will get there soon enough no doubt. Go long on oil and gas futures.

[vinylsolution]

21. Funny how the Europeans....

... pay $8/gal, and still manage to live in very prosperous societies.

How does that work?

[iceman66]

23. They do not have to drive as much, or as far.

Also, much of the price of gas in Europe is tax, but they actually use the tax revenue on things that benefit the public instead of 'defense' and corporate welfare.

[vincna]

24. They have a much better mass transit system - nt

[cherokeeprogressive]

22. The only refinery of note is in Savannah, which is 250 miles from Atlanta

and it produces asphalt. That would be my first guess.