newglasses
EXACTLY true, 60% might be a little high, also w/the mergers of u.s. oil companies when 2 major companies control the u,s, refining cap. xom is squeezing the u s market by refining less on purpose they tell you this in the annual report they published & i quote "we can not allow the price of gas to get to the 1999 levels again" in a free cap market how can they "allow" anything?? soo there a few reasons why gas is so high & it has nothing to do w/ supply..

We can blame any politician we want but the true culprit is speculation and greed. Until we get more regulation on the commodities market we will all pay the price on unfound fears on supply and large investers driving up the price of oil. Evertime the news reports a camel tipping over in the Middle East or the wind blowing in the Gulf of Mexico the market goes nuts before anything ever happens.

Spark: I stand corrected. I was out of the country in 2008. It looks like I should have filled up then....

there should be a sign on the pump that read.."lift handle, insert nozzle in rectum and squeeze"

Is the current increase in the price of gas driven by supply and demand, or by speculation and manipulation? The real answer is - both. You cannot manipulate and therefore profit from speculation if supply is plentiful. It doesn't work. Manipulation and speculation can only work when the speculators are able to fan the fears of shortage. We all know there is a crude oil shortage. That's old news. We all also know that the only reason the price was lower the last 2 years is because of the decrease in demand caused by the worldwide recession. The world economy is starting to recover, so demand is on the rise. But now, there's an outbreak of rebellion within one of the world's largest oil producing regions. The manipulating speculators are profiting from the anxiety level of oil consumers world wide.

Those of us who shouted "drill, baby, drill" knew this would happen, and will happen over and over again, until we stop pretending that "green" energy is just around the corner so we don't need to drill anymore. Oil production is too dirty an industry for some of us. And gasoline use pollutes so we're better off without it, they say. If we had an alternative, a practical alternative, that would be true, but we don't. So we have only 2 alternatives. Use less fuel, and high prices inspire folks to choose this option, or pay the artificially inflated price that's been created by some powerful folks' refusal to allow the exploitation our own energy potential. Their continued obstinance to do so suggests more of the same for the foreseeable future.

Some seem to think that a couple of well targeted regulations towards Wall Street will stop the manipulation of the price of oil. The don't seem to realize that our government is powerless to regulate the price of products that we don't own, foreign oil. Yes, we could stop the trading in oil futures here in America, but is America the only place where oil futures can be traded? Of course not. The sad fact is that our reluctance to exploit our own energy resources has left us at the mercy of economic powers we cannot control. The truth is that if we passed a law today saying we wont allow the price of oil to exceed $80 a barrel for oil, our providers would simply refuse to sell it to us. They know they can hold out longer than we can. That's an economic war we cannot win.

How many times are we going to fall into this trap until we decide to do something about it? Well, nothing will be done as long as Obama is president. He's committed to the idea that we need to use less energy no matter what it costs. In fact, high cost is the keystone of his energy plan.

Oil & Gas prices going up should not be a surprise to anyone. Just be glad it's been so low for the last few years. For all of those who missed the cash for gas guzzlers/clunkers you have no one to blame but yourself when the $80-100 a tank hits you in the wallet every fill up. Wake up people and except reality that is $5, $6, $7 plus for a gallon of gas in your near future. China, India and the rest of the globe are all interested in the same barrels of oil we need and peak oil is in our lifetime. When that does happen just park that vehicle for good because it will be only the very wealthy who could afford to drive. The days of a better lifestyle for our kids and grandkids is history. Inflation, lower wages due to global pressures, higher taxes and shortages is a real threat to the easy street that has been life in the USA. It's laughable to think Bush, Obama and ?? are the Great Wizards of Oz pushing the buttons to drive up Oil. Mark this post, if the Gulf Coast Region gets any significant Hurricanes this year then you can expect $6 a gallon for gas. Some of you need to turn of 2 1/2 Men and whatever mindless show and take an active interest in current events. You actually might like it if you try it.

Look at the bright side, at least us taxpayers are paying $7500 of each Nissan Leaf or Chevy volt (and even the $100k Tesla) sold in this country. Let's just relax and let the government determine what's best for us and our cash. :)

Obama wants high gas so he can make his RICH green energy investors richer - after the speech I just heard, it's official..2012 is for any GOP that opposes this clown

Does everyone still believe this is supply and demand? WallStreet wants you to.
http://oilgeopolitics.net/Financial_Tsun...
The fact of the matter is that, at any given time, up to 60% of the price of oil is artificially inflated due to futures speculation on the commodities exchange. Thank you, GW, for completely eliminating the cap on the commodities exchange... we like our high gas and food prices. If Obama doesn't correct the issue with an appointment to the CTFC, then he'll be as much to blame. Domestic production does not set the price of oil either. The commodities exchange sets the price... and when the wealth 'bet' on the price going higher, it does.

fearandrhetoric4dummies - Good post.
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Actually, people blaming gas prices for GM's meltdown is laughable also. During that same time gas was at an all time high, the top two selling vehicles in the U.S. were both full size pickups. Gas guzzlers as some might call them.

Idiocracy.

Obama just said this is a great nation because of social security and medicare and it's Bushs' fault for his debt...LOLOLOLOLOLL
His 2012 slogin should be: Fool me once, shame on me. Fool me twice, shame on you.

More partisan comic book crap! Let me see , we want government out of business? Yet when the market starts to over-speculate(inflate) the cost of light sweet crude to drive fuel costs through the roof. To us ethe president as a scapegoat is laughable at best. If we are going down the road of blaming our current president for oil markets , as if he has some sort of magic wand, then I believe by the same logic we should blame the Bush administration for the financial meltdown of 2008.
I also would like to state that gas prices were OVER 4.00 a gallon in the MIDDLE of Bush's second term. Many folks blame that period of time for the Plant(GM) in Janesburg closing down. Miraculously the price of gas was falling after the meltdown. The complete lack of money and jobs in the leadup to and after the crash of 2008 led to a significant demand crisis. The price of OIL during the Bush yrs was over 150$ a barrel. I would be much quicker to attach blame to the Bush family, simply because of their ties ti the Saudis and the oil industry in Texas.
I dont believe it is reasonable to blame one admin or the other for gas prices. I believe it is more reasonable to blame un-regulated, unfettered capitalism. The same culprit for the meltdown of 2008. I for one hope that gas goes to 10 bucks a gallon. It is high time that we make better energy policy that does not center around OIL, and combustible carbon fossil fuels that are destorying the earth. Not to mention the BILLIONS of dollars in tax GIFTS we give them.
If the people of this nation want economic solutions that are real(they dont) , then we will stop fighting unnecessary war that costs us upwards of 500 million a day(Afghan,Iraq,Libya). We will stop giving tax dollars to the most profitable companies(oil, drug, insurance), and we will innovate our energy policy. There are real solutions out there that dont include taking health care away from old and poor people, that do include real decisions that dont get politicians rich.
I feel so free compared too those of you that buy the partisan crap you watch/read. Unfortunately , every single one of you is so predictable its beginning to get pathetic. Look for real solutions do your own research, be original, stop handcuffing yourselves to corrupt lies that just screw LARGE groups of citizens that you dont agree with.

digitalodonata - The point people are making is Bush was blamed for high gas prices when he was in office. They then dropped to a low just before Obama took office. Now they've nearly doubled. Only fair to blame Obama right?

funny how the republicans complain about obama raising gas prices. when in fact they started to skyrocket during the bush administration. hmmm!

Trump in 2012!

Nothing but speculation is driving gas prices. Supply and demand have been constant for a number of months now. Market manipulation (greed) is what's behind the current spike. I blame both sides of isle for the situation, but the Republicans are trying to cut the agency that is responsible for overseeing the commodities market. Cut that agency and watch the fuel prices soar.

LOL LOL you are right except Obama's class warfare is getting old since all his friends are rich and his czars are rich and most all the democrat politicians are rich. Has Kerry paid those taxes yet after getting caught hiding his yacht?

kaysbrew... Thats funny, Paul Ryan wants to do the same thing. If it was not for Obama wanting tax increases for the rich and Ryan wants tax decreases for the rich. And, Obama wanting to save program that the majority of this nations people need and use and Ryan wanting to cut programs that the people that pay for his and other Republicans campaigns will never need, I would think that they maybe they are same person. LOL

greenst
Funny you complain about million dollar mortgage when Obama wants to do away with my mortgage interest deduction on my tiny little home as if home sales aren't bad enough.
I remember the outrage when Reagan did that with credit card interest, but crickets once again for Obama's Ending of America policies.

pandalover25 - End of 2008, the average price of gas in the U.S. dropped below two dollars.

http://money.cnn.com/2008/12/25/news/eco...
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http://www.eia.doe.gov/oil_gas/petroleum...

Its in Waukesha County. If anyone can afford it, it is all the republicans there. Its a good place for all the rich to spend their tax breaks. That is until Paul Ryan will not allow them to deduct their intrest on their million dollar mortgage. Its also a good thing the republican will not takeaway the $40 Billion we give oil companies in taxpayer subsidies. Could one even guess what gas would cost then?

Spark... Gas was 2 dollars gallon in 2008? What station were you going to?! I'm going to start following you around.

The truth is, no matter what amount of oil is produced in the United States, we will never be able to meet our own needs. We need to rely on OPEC and they have the ability to manipulate the supply to keep prices high. They know we are willing to pay it....and they are right.

Welcome to the new reality. Lets all buy horses.

This smells like a GOP victory in 2012

Bush was blamed for it all when it went up. Gas now has more than doubled since Obama took office. Only fair to blame him now right?
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Supply and demand will always be an issue because of where the supply is coming from. Not who is President.

Yeah westorbust-tell that to all the unemployed oil industry workers in the Gulf of Mexico-and exactly who's ideology was responsible for indiscriminately shutting down all that production-keep drinking all that liberal Kool-Aid!! I hear it's calorie free too!!

Speculation and manipulation is why we are paying nearly $4 a gallon at the pump. That's a mechanism of that "free market" (or their version of it) that the Republi-baggers think will save us. Domestic production has increased under Obama, but don't let the facts get in the way of your ideology.

Must be all bush's fault again...

The 4$ PRICE is not the result of supply,it is caused by market & refining manipulation....
for all ya repub's that think it is "foreign oil" read xom's annual report; the pages where they tell you that they refine in la & ship to s. america for a lower price to squeeze the n. america market... then read the pages where they say they can never allow the gas prices to fall to "1999" levels again...AND that they are a "global" energy co...oh yea also read their u.s. throughput for the last 10yrs..they refine a little less each yr.. then @ the summer driving season each year they always have a "scheduled maintenance" refinery shutdown...

And how does that make you feel?

"disruption of supply risk"-never mind that Obama and the Dems are doing everything in their power to block oil/gas production in this country, which by definition makes us even more dependent on foreign sources of energy-so why does anyone wonder why gas is at 4$ a gallon-that's not "blaming" Obama that is just recognizing his arrogance and hypocrisy when he says he wants to make the U.S more energy independent

I believe it's the never ending problem of our government each term that can seem to solve this huge, ongoing issue. The problem is where the "supply" is coming from. Solve that, and you will be an American hero.

I believe it's called disruption of supply risk. But sure, reach out and find a way to blame Obama, if that's what your hobby is.