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Sat Feb 18, 2012, 01:48 PM

A Gasoline Conspiracy to Set Fire to the Obama Administration?

Last edited Sat Feb 18, 2012, 01:59 PM USA/ET - Edit history (1)

Hmmm...

http://www.washingtonmonthly.com/ten-miles-square/2012/02/a_gasoline_conspiracy_to_set_f035490.php

February 17, 2012 2:33 PM
A Gasoline Conspiracy to Set Fire to the Obama Administration?

By Rick Ungar
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snip//

While Wall Street’s ‘priority one’ is to make money, it is clear that, for this year, priority two is the destruction of Barack Obama’s presidency. Accordingly, from a Wall Street point of view, it certainly is a happy coincidence that that priority one, making big money on oil speculation, could directly lead to accomplishing their second highest mission.

I am left to wonder whether this is a happy Wall Street coincidence or a clever strategy that could pay off big-time come November.

Gasoline prices have a ‘real time’ impact on middle-class voters. Can you imagine a better way to make voters good and angry than to insure that they are paying five bucks a gallon for the gasoline that will be powering them to the voting booth in November? And if you subscribe to the theory that the President’s opponents would like to keep economic growth down until the election is over, what better way to accomplish such a goal than to force a precipitous rise in gas prices?

snip//

Am I simply getting paranoid as the election season is upon us?

Maybe. But there is no disputing that the higher gasoline prices go, the lower the odds that President Obama will be returned to office for a second term.

So, I’m just saying’…..

As a result of what is coming, it might be a good idea for the Obama Administration to start talking about the reasons for rising gas prices and I’d start talking about it now. This is one instance where silence is anything but golden and without a plausible explanation as to why the Administration is not responsible for what might be a dramatic rise in gas prices, it may be President Obama who is left holding the pump nozzle come December.

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Arrow 31 replies Author Time Post
Reply A Gasoline Conspiracy to Set Fire to the Obama Administration? (Original post)
babylonsister Feb 2012 OP
Pab Sungenis Feb 2012 #1
CAPHAVOC Feb 2012 #3
Kwarg Feb 2012 #19
CAPHAVOC Feb 2012 #20
K Gardner Feb 2012 #2
Thrill Feb 2012 #4
Doctor Who Feb 2012 #11
FogerRox Feb 2012 #5
babylonsister Feb 2012 #6
FogerRox Feb 2012 #9
zipplewrath Feb 2012 #7
alcibiades_mystery Feb 2012 #8
Proud Liberal Dem Feb 2012 #14
zipplewrath Feb 2012 #16
CAPHAVOC Feb 2012 #21
FSogol Feb 2012 #10
DCBob Feb 2012 #12
CAPHAVOC Feb 2012 #23
DCBob Feb 2012 #24
CAPHAVOC Feb 2012 #25
DCBob Feb 2012 #26
KrazeeKrewe Feb 2012 #13
auburngrad82 Feb 2012 #15
AverageJoe90 Feb 2012 #29
Amonester Feb 2012 #31
Yavin4 Feb 2012 #17
KrazeeKrewe Feb 2012 #18
CAPHAVOC Feb 2012 #22
DCBob Feb 2012 #27
csziggy Feb 2012 #28
DCBob Feb 2012 #30

Response to babylonsister (Original post)

Sat Feb 18, 2012, 02:03 PM

1. Here's a better idea.

Tap the SPR again, and introduce legislation to ban speculation like should have been done the first week of his Administration.

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Response to Pab Sungenis (Reply #1)

Sat Feb 18, 2012, 02:48 PM

3. It is the refineries

 

Now they are shutting down another one. A big one in Pa. Gas is getting too expensive.

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Response to CAPHAVOC (Reply #3)

Thu Feb 23, 2012, 04:56 PM

19. Bad angle...

 

Pubs will blame lack of new refinery on Dems and Environmental activism. Dont underestimate the danger of $5 gas in late summer into Sept and Oct

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Response to Kwarg (Reply #19)

Thu Feb 23, 2012, 04:59 PM

20. It is almost 5 bucks here.

 

I am cutting down big time. But I have a Beach Bike. No gas needed. For local stuff.

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Response to babylonsister (Original post)

Sat Feb 18, 2012, 02:33 PM

2. I've been wondering about this and glad to see someone has written

about it. Everytime we hear the pundits talk about the improving economy and how that bodes well for November, in the same breath, we're being warned about $5 gasoline.

How the heck do they know gas will be that much months from now and if they know it, they can surely "fix" it.

I know I'm not a brainiac about this kind of stuff...
But we've seen Obama play chess before.

I don't doubt he'll do it again.

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Response to babylonsister (Original post)

Sat Feb 18, 2012, 04:13 PM

4. Tap the reserves

Flood the markets

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Response to Thrill (Reply #4)

Sun Feb 19, 2012, 08:19 AM

11. Won't happen..

The reserves are there in case of a serious disruption in our access to oil ( war w/ Iran for example). Using the reserves to temporarily lower prices for domestic political reasons would be ill advised.

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Response to babylonsister (Original post)

Sat Feb 18, 2012, 04:27 PM

5. No meaningful tax increases or derivitives regs=

=priority two is the destruction of Barack Obama’s presidency?

Why would Wall St want that?

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Response to babylonsister (Reply #6)

Sat Feb 18, 2012, 06:49 PM

9. OMG its a primary.......

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Response to babylonsister (Original post)

Sat Feb 18, 2012, 04:56 PM

7. It's all about the money

At the end of the day, gasoline is a commodity and it's all about the money. It'd be hard to manipulate the price of gasoline, especially world wide. Truth is, the predictions of high priced gasoline are a bit of a compliment by the speculators. They are anticipating an economy to support prices that high.

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Response to zipplewrath (Reply #7)

Sat Feb 18, 2012, 06:42 PM

8. Indeed

The breathless talk of high gas prices and conspiracy is ultimately just a little side show for people inclined to such nonsense. It won't have the slightest effect on the election.

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Response to zipplewrath (Reply #7)

Thu Feb 23, 2012, 01:18 PM

14. "an economy to support prices that high."

Last edited Thu Feb 23, 2012, 01:18 PM USA/ET - Edit history (1)

In a few years MAYBE, as long as we don't keep (re-)electing Republicans but where exactly are all the jobs that would help support those kind of higher prices? Wouldn't it make more sense for prices to skyrocket WHEN that actually happens? I know that they're "speculating" but still................



Hey, come to think of it, if speculators believe that the economy is going to come roaring back to support prices like what they're talking about, then how can Republicans claim Obama's policies are a failure (or that they're not "good enough")?

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Response to Proud Liberal Dem (Reply #14)

Thu Feb 23, 2012, 01:42 PM

16. For a market plurality

One must understand that markets are driven by pluralities, not majorities. Unemployment is at 8%, that means 92% are employed. If only 40% of those employed are "doing well soon", that is sufficient to drive markets significantly.

Hey, come to think of it, if speculators believe that the economy is going to come roaring back to support prices like what they're talking about, then how can Republicans claim Obama's policies are a failure (or that they're not "good enough")?


Don't confuse speculators with the people complaining about Obama's policies. And don't confuse what people say, with how they invest, on either side of the aisle. Truth is, many folks in the 1% agree with us more than the GOP. It's the "wanna be's" that are being fooled.

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Response to zipplewrath (Reply #7)

Thu Feb 23, 2012, 05:01 PM

21. Reletivly gas is not that high

 

Compared to the value of a buck.

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Response to babylonsister (Original post)

Sat Feb 18, 2012, 08:25 PM

10. They are pulling another "Enron Energy Crisis" on America. n/t

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Response to babylonsister (Original post)

Sun Feb 19, 2012, 09:23 AM

12. There is very little the President can do about rising oil/gas prices.

Prices go up and down based on things out of the Presidents control.. eg.. global demand, geopolitical issues/crises, production from OPEC. We could "drill baby drill" till America looks like a pin cushion and it probably would not make any difference in price.

This is just the latest GOPer talking point since they are running out of other things to bash the President about.

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Response to DCBob (Reply #12)

Thu Feb 23, 2012, 05:05 PM

23. Well how is it where you are?

 

My Jeep only gets about 16 a gallon.

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Response to CAPHAVOC (Reply #23)

Thu Feb 23, 2012, 05:30 PM

24. Its less than the peak price during the Bush administration.

Bush's "answer" was to send us into a recession. Would that be preferable?

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Response to DCBob (Reply #24)

Thu Feb 23, 2012, 06:38 PM

25. I do not know. I only get about 16 a gallon.

 

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Response to CAPHAVOC (Reply #25)

Thu Feb 23, 2012, 06:39 PM

26. You dont know much.. do you?

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 12:30 PM

13. Tax increase at the pump is 100% responsible for the rise in Gas Price.

 

Every gallon of gas sold at the pump contains 10% ethanol & is called E10. Ethanol had replaced 15% of the gasoline sold in this country. 10% was sold as E10 & 5% was sold as E85. On January 1, 2012 the 45 cent tax cut on ethanol was not renewed because the USG needs more tax money. This increased the tax everyone paid at the pump by 5 cents since all gasoline is E10. For E85 users the tax increased by 38 cents per gallon. E85 users switched to E10 gasoline driving up gasoline demand 5% since then. The sudden price spike on the first day of 2012 is the tax hike & the continuing rise is caused by demand increase until the price rises by 38 to 45 cents so E85 use will compete once again holding gas prices in check. Also North Carolina increased their gas tax by 20 cents on the same date.

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 01:35 PM

15. The same thing happened in 2000

Gas prices went waaaaay up and Gore, as part of the Clinton administration, payed the price by losing to the Chimp. The Chimp, as part of the oil industry, benefited by getting to play president for eight years.

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Response to auburngrad82 (Reply #15)

Fri Feb 24, 2012, 04:50 PM

29. That isn't what really caused his loss, though.

What did enable the theft, however, was Ralph Nader's running as a third-party candidate, siphoning votes away from the Democrats. 'Nuff said.

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Response to auburngrad82 (Reply #15)

Fri Feb 24, 2012, 10:43 PM

31. Yeah, but the chimp 'promised' he would 'talk' to his Saudi 'friends' over a beer

and that he would tell them to 'open up the spigot' and you know the rest...

Swing voters believed him... they also 'bought' his 'compassionate conservative' BS!

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 02:54 PM

17. Ever Notice How There's Always Something That Will "Take Down Obama"

First there was the UE rate, but that went down.

Then, there was the contraception issue, but that went away.

Now, there's the gas attack issue.

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 04:48 PM

18. Gas prices hit $6.00 in Florida!

 

Gas prices hit $6.00 in Florida!

$5.99 gas at Suncoast Energys, 5928 Butler National Dr & S Semoran Blvd, Orlando, FL

$5.89 gas at Sun Gas, 5600 Butler National Dr & S Semoran Blvd, Orlando, FL

Source: www.orlandogasprices.com

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Response to KrazeeKrewe (Reply #18)

Thu Feb 23, 2012, 05:03 PM

22. Hope it does not get that high in Tampa.

 

I can not afford it.

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 07:34 PM

27. Supply is up.. demand is down.

Despite the rising prices, there seemed to be ample supplies available. A report showed U.S. crude stockpiles growing more than expected last week, suggesting demand remains sluggish.

The American Petroleum Institute said late Wednesday that crude inventories rose 3.6 million barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted an increase of 1.7 million barrels.

http://finance.yahoo.com/news/oil-stays-above-106-despite-125301703.html

========

Increase in gas prices are the result of speculators fearing supply disruptions in the ME and demand picking up globally. The President has little to no control over that dynamic.

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Response to babylonsister (Original post)

Thu Feb 23, 2012, 09:01 PM

28. Deja vu - it reminds me of 1980

A president that tries to push environmentally sound energy policies, high gas prices, an Iran crisis. I can't wait to see what else happens over the next eight months. Will there be another "October Surprise"?

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Response to babylonsister (Original post)

Fri Feb 24, 2012, 07:59 PM

30. The GOPers are freaking out about the President's potential use of the SPR.

Which means it probably the right thing to do.

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