Why the price of gas will remain high so long as Repubs control Congress?

[kentuck]

The oil companies know they can gouge the prices all they want when the Congress is controlled by the Republican Party. When was the last time prices went down? Remember?

If you like high-priced gasoline, get your ass down to the polls and vote Republican. They will squeeze every damn nickel out of your pockets.

Yes, gasoline will probably go up next summer and if it looks like Congress may switch hands, then the price will go down once again. Write it down.

[FarCenter]

1. The price of gas will continue to go up

Crued oil production has plateaued at under 90 million barrels per day. Increased competition from developing countries means that the price in the US, which is a major importer with a huge trade deficit, will continue to go up.

[kentuck]

2. Does that mean we use less gas or does that mean the oil companies...?

simply make more money off the same oil supply? In my opinion, oil companies like to bring the price down before an election so that the price of gasoline does not become an issue in the election. That is not to their benefit.

http://www.usatoday.com/money/industries/energy/2006-11-06-opec-cuts_x.htm

============

[FarCenter]

6. They will make more money off the crude supplies they control, but their refining margin may tighten

The "oil companies" no longer control most sources of crude outside of the US. National oil companies do.

So higher global crude prices increases profitability of oil company operations in the US and the other countries where they still have concessions.

However, the refinery business may not be so good, as volumes are stagnant to declining, since the spread between crude and refined products may tighten due to consumer resistance.

[TheCowsCameHome]

3. The price will go up no matter who is in charge.

That's the way it is.

Cheap gas is a thing of the past.

[Kahuna]

12. Not true at all. Oil was high before the Dems took control of Congress

in 2006 and stayed relatively low until the repukes regained control of the congress in 2008. Oil was also cheap when Clinton was president and started to increase when buscho got into the White House, and really got high when the repukes gained control of congress. I KNEW when the repukes took control last year that oil gas was going to sky rocket and said so at the time.

[kentuck]

13. You are right although...

The oil companies attempt to manipulate the market in such a way that it is not noticeable by the average person.

[Kahuna]

15. I notice. And you can believe that they will jack it up again before

the election next year, like they did with Gore v. bush.


:hi:

[muriel_volestrangler]

16. The one flaw in your theory being that the Repubs did not regain control of Congress in 2008

They only got a majority in the House back in 2010, and still are the minority in the Senate. Worth rethinking your thesis, perhaps?

[Kahuna]

18. That was obviously a typo because gas was low in 2008 and went up

directly after the repubs took control in 2010. :eyes: Got it now?

[muriel_volestrangler]

19. Gas was not low in 2008 - it hit its highest price ever then

http://futures.tradingcharts.com/chart/RB/M?anticache=1320920869

The price grew strongly from the start of 2007 until halfway through 2008, when it reached its highest price ever. Then it plunged, until the end of 2008. Then it climbed again, until April 2011, and since then its been falling.

Perhaps it's got nothing to do with American elections after all, and instead depends on the world economy? You know, like every single economist in the world thinks?

So, no, I don't think what you wrote was a 'typo'. I think you could remember neither what happened in elections when, nor what happened to gas prices.

[Kahuna]

20. I don't give a shit what you think. How about that! nt

[kcks]

4. How

much was it when the Dem's controlled both house,s during Obama,s first two years/

[kentuck]

10. Right at election in 2006, when the Democrats took over the House...

http://www.usatoday.com/money/industries/energy/2006-11-06-opec-cuts_x.htm

I think it is in the oil companies interest to take prices down just before an election, so that the price of gasoline shrinks as an issue. Then they will increase the prices when the election is over as in 2007. http://www.usatoday.com/money/industries/energy/2006-11-06-opec-cuts_x.htm

Now we have even higher prices. We should expect the prices next summer to increase maybe to record levels for a couple of months before they drop again just before the election in November...

[defendandprotect]

5. "Congress is controlled by oil and gas industry" -- Al Gore/Rolling Stone this summer

[liberal N proud]

7. $4.50 by next spring

The Oil Price Information Service says nationwide gas prices could average a record $4.50 a gallon by early summer, 2012.

That's based on the price of oil now, and the fact that prices increase every spring as demand and miles driven increases.

Oil prices unusually high right now

Crude oil is currently at $95 a barrel, a record for November, when demand is traditionally low.

Assuming that demand starts spiking next April and May, the industry group expects oil prices well above $100 a barrel, which would correspond to pump prices in the $4.25 to $4.50 range.

The all-time high for regular gas in the Cincinnati area is $4.25, set in the summer of 2008 right before the recession brought prices down.



Read more: http://www.newsnet5.com/dpp/money/consumer/dont_waste_your_money/450-gas-prices-predicted-next-summer1320849331609#ixzz1dFPK5HQP

[Ron Green]

8. Gasoline was way too cheap for way too long,

and that's why we've allowed a our world to be dependent on it.

The medicine is bitter, but it must be taken.

[kentuck]

11. Twenty dollars may not mean much to some folks but....

to a low wage worker scratching to get by, gasoline prices is one the biggest hardships he faces. He has to take food off the table or take something from his children just to pay high gas prices.

[slackmaster]

9. Be careful what you say. There are some among US who want fuel prices to be high.

;-)

ETA I started writing mine before Ron Green's was posted.

[elleng]

14. Lack of competition = lack of regulation, a/k/a DEREGULATION.

[taterguy]

17. Gasoline prices will remain high as long as it's what most people use for transportation

And neither party is politically suicidal enough to forcefully advocate for alternatives.

No one wants to be the next Jimmy Carter.

[TransitJohn]

21. We need the price to go up if we're ever going to get serious about alternatives. n/t

eom

[kentuck]

22. The prices have gone up..

It is affecting our economy negatively and affecting many households. How much higher should they go?

[TransitJohn]

23. High enough to incentivize alternatives. eom

n/t