Gas prices are down to 1.67 in my area of Dallas. http://www.dallasgasprices.com/ Damn.... What are the prices in your areas?
I think it's good prices are lower, but I also think it's a sign of a weaker global economy. I wonder how people across the ocean are faring with it...
It's about $2.54 here in USD in Calgary. We tend to pay more for gas but people are happy since 80c/L is still the lowest it's been in years.
I saw on the news this morning that a sustained $1.10 drop in gas price means $150B in stimulus to the US economy. Should have done this instead of borrowing massive amounts that didn't stimulate the economy as well or for more than 2 years.
Funny thing is, the administration did the exact opposite. Still is but they don't have complete control. Things will be entirely different when this country has independent energy supply and a leader that will lead the American people rather than fundamentally changing them. A total fail, time to move on. The Keystone pipe is a damn good start on adding infrastructure toward energy independence.
What Obama should have done. Instead of shutting down the coal industry and stifling oil production, he should have done a "Positive", start this nation on the road to switching to Hydrogen fuel as our portable fuel. It can be done and it makes the Greenies day as well as a boon to industry. We can still do it IF we had a leader! http://pressroom.toyota.com/article_display.cfm?article_id=4901 The Toyota Mirai
I paid $1.59/gallon the other day ($2.09 - $0.60 for my Fred Meyers rewards). Came at a perfect time. My gas tank had never been so low since we purchased the car. Even at 18.5 gallons, we still filled up for just under $30.
It's practically unanimous among economists that the stimulus stimulated the economy greatly. Does the Koch in-house economist say otherwise?
Obama doesn't control the price of oil, the 1%ers do. Their treasonous greed is what necessitated his borrowing, and our suffering. The only reason they lowered the price now is because they want to give the false appearance that the Republican's new majority is the reason our economy is improving so they can get Jeb as our next Imperial Leader.
Was this an option for us? Im under the assumption that the supply boom is due to the Saudi's trying to undermine fracking.
Or fracking and increased use of natural gas has made a glut of oil. The option was to build more refineries and pipelines and the like, not obstruct those things.
I dont think so. I believe its about $60 a barrel that makes new fracking wells financially unfeasible to drill. Also Obama has been very friendly to the oil companies, with the exception of keystone. Fracking technology was in its infancy back to 2008, we were not ready to bet the house on it yet. So I dont think your hindsight criticism is accurate on this one. There are other factors besides Saudi, including our own increase production, but Saudi is the main driving force. http://www.telegraph.co.uk/finance/...rica-says-Saudi-Arabia-may-blink-on-cuts.html
In hindsight, oil was over $60 a barrel from 2009 until recently. And natural gas consumption is up consderably, too.
