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Remember the good old day when it was "Bush taking care of his oil buddies!"

Discussion in 'Political Discussion' started by Patradomous, Feb 24, 2012.

  1. Patradomous

    Patradomous In the Starting Line-Up

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    #87 Jersey

    Remember how the left use to howl and whine about Bush taking care of his oil buddies when gas was 4$ a gal.???

    Well those days unemployment was 5%.

    How come nobody is complaining about ObaMao taking care of his Solyndra buddies.
    The Feds tax 33% of every dollar spent at the pump. ObaMao is delighted that he can extort the poor and middle class into funding the Unicorn industry. All of this while the left claims he is never to blame.
    Remember the payroll tax cut so you could save 40 bucks for pizza night?...WOOOPS right into the gas tank. Looks like its tofu night instead.

    This incorrect its about 19 cents per gal. state of Ma. is 23 .5 per for a total of 42.5 cents tax on gallon of gas.
     
    Last edited: Feb 24, 2012
  2. JackBauer

    JackBauer Pro Bowl Player

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    I'm sorry... was there a coherent thought or argument you were trying to express?
     
  3. Mrs.PatsFanInVa

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    #24 Jersey

    Might make sense if Obama had raised the federal tax on gasoline or changed it's distribution...but that tax hasn't been raised or redistributed since 1993.



    When did the Federal Government begin collecting the gas tax? - Ask the Rambler - Highway History - FHWA

    But don't let that stop you - sputter away, sooner or later you'll accidently say something factual.
     
  4. Drewski

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    Most of tax on gas which goes up (while there is a Federal tax on it) is state tax.

    For instance Gov. Patrick has put forth a plan to raise the gas tax in MA to pay for the T. I recall him mentioning 25-35 cent increase.

    Either way, nothing to do with this, or any, President.
     
  5. Mrs.PatsFanInVa

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    #24 Jersey

    Exactly!!!!!!
     
  6. DarrylS

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    More hysteria based on what folks think, rather than what is..

    When Bush left office the unemployment rate was 7.8%.. last month it was 8.3%..

    We are currently producing more oil than was produced when George W. was in office.. gas prices are up across the world, not only in the US.

    U.S. Field Production of Crude Oil (Thousand Barrels per Day)

    When sabres start to rattle across the Strait of Hormuz then speculators begin to panic and drive up the price..
     
  7. Drewski

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    That is the important part right there Darryl.

    Used to work for Cumberland Farms (corporate) in their Wholesale Gas Division. Part of my job was to wait every evening for OPIS to release the moves on the NYMEX for the day. I couldn't give an exact percentage, but I would say most of the jumps were are seeing in price is nothing more then speculators.....speculatin'.
     
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    It is amazing that based on this speculation that gas stations change the prices two or three times a day if it is going up.. and it hasn't even left the Mid East..

    But when they go down, they go down slowly..
     
  9. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Messiah Jug Ears,
    He will be re-elected, his groupies and millions of goofy Americans will see to that, we will deserve everything he does to destroy America, get ready.

    I still wonder where all those screaming weeping slobbering "Bush War Protesters" went, it's like a miracle, they just vanished, POOF, gone.......:confused:
     
  10. Drewski

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    I am not going to defend it...as it clearly makes no sense to me (as a consumer).

    But here is the why if you will.

    Say you pull into Cumby's for a fill up. Say the price is 3.55/gallon. The price you are paying is based on what it will cost to replace the gas they sold yesterday (not yesterday as in the day before today, but "yesterday" in a in the past sort of way).

    So when you see attendants changing prices 2-3 times day, basically what that is saying is the price on the NYMEX has jumped enough that the replacement cost for the gas in the ground at the station at that minute will be more than the load that was in there before (which you are paying 3.55 for).

    The really sad part about all of it...there are very few laws regarding price gauging in this country. Would you be surprised to know that a gas station would get into more legal trouble by setting their price too low, compared to their market, than they would for raising it too high?

    EDIT - And the Middle East part isnt really relevant. The gasoline that will be at your local Cumbies tomorrow, is in the oil storage facility in Braintree MA, Providence RI, Chelsea MA already. However to replace what you take out of there, you are buying at the price "in the Middle East".
     
    Last edited: Feb 24, 2012
  11. Drewski

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    Like a fart in the wind eh Harry? :rolleyes:
     
  12. PatsFanInVa

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    I think that's the first post of yours I've "liked," Harry.

    You're right, he will be. And although I don't think he's the messiah, I'm not particularly goofy, and he won't destroy America, I think we do all deserve a president who responds to the demands of the day and of the future rather than one of the Four Stooges the right has to offer.

    He got elected by looking like the grown-up in the room. Stick him in a room with the whacky theocons, neocons, and just plain cons that the right offers up, and what do you see?

    Yah. Same deal.

    PFnV
     
  13. The Brandon Five

    The Brandon Five Experienced Starter w/First Big Contract

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    #75 Jersey

    I don't know, the slopes look pretty similar to me:

    Historical Price Charts - California Gas Prices
    [​IMG]
     
  14. DarrylS

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    Last edited: Feb 24, 2012
  15. Patradomous

    Patradomous In the Starting Line-Up

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    #87 Jersey

    When Bush left office the price of gas was $1.80 a gal.
     
  16. The Brandon Five

    The Brandon Five Experienced Starter w/First Big Contract

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    #75 Jersey

    Slope = rise/run.

    The periods that had a rise followed by a decline (look at the inflection points at 4/28 and 12/24) appear to have a similar slope on either side of the inflection. 7/26 appears to have a more rapid decline than rise, while 9/14 appears to have a more rapid rise than decline.

    I'd say the evidence is inconclusive, but at the very least does not appear to support the idea that prices always rise faster than they fall.
     
  17. JackBauer

    JackBauer Pro Bowl Player

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    Gee, can you think of a particularly salient event that was occurring at the end of Bush's term?
     
  18. Mrs.PatsFanInVa

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    #24 Jersey

    Also worth noting - since I know you want the whole story told and not just cherry-picked:

    Average gas price tops $4 a gallon for the first time-AAA - Jun. 8, 2008
     
  19. Drewski

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    Jack, not that I am defending the post your post was in reply to, but a down turn in the economy (such as occurred at the end of Bush's term) would theoretically lower price, as demand for oil crashed, no?

    I will say that the President of the US has really very little impact on gas prices at the pump. Geo-politics accounts for some, but as long as oil is bought and sold on the market, and speculators are part of that market, there will be swings.

    I'm sure Titus will jump in at some point with the Supply Side of the equation.
     
  20. DarrylS

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    And if you chose to read the post it has little to do with Bush.. gas prices are based on speculative market prices.

    Prices are up all over the world, and saber rattling in the Gulf does not help.

    In July of 2008 Gas Prices hit $4.11...
     
    Last edited: Feb 24, 2012

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