White House seeks to deflect blame over rising gas prices

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    Feb 22, 2012 9:24 PM GMT
    http://www.reuters.com/article/2012/02/21/us-usa-whitehouse-gasoline-idUSTRE81K23P20120221

    Under fire from Republicans over rising gasoline prices, the White House on Tuesday highlighted factors beyond its control for gains in global oil markets, as it sought to deflect blame over a potentially damaging election-year issue.

    Gas prices, which rose 7 cents a gallon last week, could unsettle economic confidence at a time when the U.S. recovery appears to be gathering pace, hurting President Barack Obama as voters review his track record ahead of the November 6 ballot.

    Obama, a Democrat, acknowledged the risk posed by higher gas prices as he welcomed congressional approval of a payroll tax cut extension. The White House later argued that it was unfair to single out the administration over prices at the pump.


    Meanwhile, the White House attempts to claim that Obama did not deny the Keystone XL pipeline - http://www.realclearpolitics.com/video/2012/02/21/carney_obama_didnt_turn_down_the_keystone_pipeline.html

    White House press secretary Jay Carney first says Republicans "forced" President Obama to deny the permit for the Keystone XL pipeline. Later in his press briefing, Carney says Obama didn't turn down the pipeline.

    "In terms of Keystone, as you all know, the history here is pretty clear. And the fact is because Republicans decided to play political with Keystone, their action essentially forced the administration to deny the permit process because they insisted on a time frame in which it was impossible to completely approve the pipeline," Carney said when asked about the pipeline by ABC News' Jake Tapper.

    Later in the briefing, Carney says it is the Republicans' fault.


    It seems a bit bizarre that while on one hand liberals here are proud of the fact that it was denied for environmental reasons, the White House now denies it was even their doing and understand the underlying point that this Administration's policies are helping to drive up prices at the pump.
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    Feb 23, 2012 7:33 AM GMT
    http://reason.com/archives/2012/02/22/arent-high-gas-prices-what-democrats-wan

    Gas prices are spiking. That's great news, right? We have to wean ourselves off the stuff. At least that's what we've been hearing for years. Oil is dirty. We import it from nations that hate our guts (like Canada!). And moreover, we're running out. Oil is "finite." Finite much in the way water is finite.

    So why aren't Democrats making the case that the spike in prices is a good thing? Isn't this basically our energy policy these days? How we "win the future"? If high energy prices were to damage President Barack Obama's re-election prospects, it would be ironic, considering the left has been telling us to set aside our "dependency"—or, as our most recent Republican president put it, "addiction"—for a long time.
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    Feb 23, 2012 12:10 PM GMT
    Interesting CNN anaysis from an industry expert this morning - basically that hedge funds are using low interest rates to attempt to corner the market and cash out with windfall profits. Your thoughts?
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    Feb 23, 2012 12:20 PM GMT
    NJDewd saidInteresting CNN anaysis from an industry expert this morning - basically that hedge funds are using low interest rates to attempt to corner the market and cash out with windfall profits. Your thoughts?


    This is quite probable, Bernanke has been creating money like crazy for the last few years, they have to go somewhere.

    Another thing is, American threats against Iran are increasing the risk of war and supply disruptions. So clearly 2 main reasosn for price increases are actions of the US government...
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    Feb 23, 2012 12:54 PM GMT
    Radamisto saidThis is quite probable, Bernanke has been creating money like crazy for the last few years, they have to go somewhere.

    Another thing is, American threats against Iran are increasing the risk of war and supply disruptions. So clearly 2 main reasosn for price increases are actions of the US government...

    But when you say US government is that Obama? Bernanke and the Fed are independent, the White House doesn't direct them and the monetary policy they set. And Iran is a total loose cannon, with the United Nations and a number of European countries applying sanctions and other measures that could drive up oil prices, it's not merely the US.

    The most inflammatory statements about Iran (and now Syria) have been coming from Republicans in Congress, like Sen. John McCain, not from Obama. (What a blessing that shoot-em-up cowboy didn't become President, the US would be in wars all over the globe, instead of ending its Bush wars)
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    Feb 23, 2012 12:59 PM GMT
    Art_Deco said
    But when you say US government is that Obama? Bernanke and the Fed are independent, the White House doesn't direct them and the monetary policy they set.


    Bernanke has been creating money like crazy for pretty much all the time he's in the office and Obama prolonged his tenure, so yes, Obama is responsible for all money supply increases at the very least since confirming Bernanke.

    And as for the threat from Iran, I don't believe it one bit. Europeans wouldn't do anything without the US either. In short: it's just American imperialism that's preparing yet another war in the Middle East and oil prices at 300 EUR per barrel. Can't wait!
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    Feb 23, 2012 5:02 PM GMT
    This is hilarious. Riddler do you really think Canadian business was going to sell oil at some much lower rate (via the pipeline) than what it sells for in the open market? Srsly?
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    Feb 23, 2012 5:19 PM GMT
    meninlove said This is hilarious. Riddler do you really think Canadian business was going to sell oil at some much lower rate (via the pipeline) than what it sells for in the open market? Srsly?


    You do realize that there is a difference between oil prices and gas prices at the pump right...?
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    Feb 23, 2012 5:23 PM GMT
    D'oh that last post isn't worthy of an answer. The pipeline is carrying crude oil, not gasoline, lol.
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    Feb 23, 2012 5:25 PM GMT
    meninlove said D'oh that last post isn't worthy of an answer. The pipeline is carrying crude oil, not gasoline, lol.


    Where do you suppose it's going? It's too bad you don't actually think a few paces ahead.
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    Feb 24, 2012 5:12 PM GMT
    DNC Chair Debbie Wasserman Schultz Attacks Bush For High Gas Prices - Complaining when gas prices hit $3. Like it or not, this is an issue that matters.

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    Feb 24, 2012 5:15 PM GMT
    http://www.washingtonpost.com/politics/campaigns/gas-prices-nearing-4-a-gallon-could-slow-recovery-undercut-obamas-re-election-prospects/2012/02/23/gIQAW4DMWR_story.html

    Soaring gasoline prices are threatening to undercut President Barack Obama’s re-election prospects and offering Republicans an easy target. With prices pushing $4 a gallon and threatening to go even higher, Obama sought Thursday to confront rising public anxiety and strike back at his GOP critics.
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    Feb 24, 2012 5:43 PM GMT
    OK riddler, what do you suggest should Obama do about high gas prices?
  • GQjock

    Posts: 11649

    Feb 24, 2012 5:47 PM GMT
    Desperate attempt at anything that republicans can blame Obama on

    I love the smell of Desperation in the morning......
    Wasn't that in a Ford Coppola movie once. icon_cool.gif
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    Feb 24, 2012 5:48 PM GMT


    http://abcnews.go.com/blogs/business/2012/02/how-wall-st-is-raising-the-price-of-gas/
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    Feb 24, 2012 5:54 PM GMT
    riddler78 saidhttp://www.washingtonpost.com/politics/campaigns/gas-prices-nearing-4-a-gallon-could-slow-recovery-undercut-obamas-re-election-prospects/2012/02/23/gIQAW4DMWR_story.html

    Soaring gasoline prices are threatening to undercut President Barack Obama’s re-election prospects and offering Republicans an easy target. With prices pushing $4 a gallon and threatening to go even higher, Obama sought Thursday to confront rising public anxiety and strike back at his GOP critics.

    The gas prices will absolutely damage Obama and the Democrats are in desparate damage control mode, but this issue will keep getting worse as prices continue to inch up during the summer.

    In 2008 when the economic meltdown occurred, it was on the Republican's watch and they took the hit. That the Democrats with Freddie and Fannie played a role, and McCain warned about that a couple of years before, did not matter.

    With the gas situation now, while Obama is not in complete control of the situation, it's on his watch. His actions or inactions will be seen as responsible. 1) Iran situation, 2) Blocking drilling in the gulf leading to rigs moved to Brazil, 3) Loan to Brazil to further their industry, 4) Keystone. Pelosi is already blaming Wall Street and Republicans for the gas prices. Bottom line, Obama will take the hit. It's on his watch, and people want performance and results, not excuses. This will stick and he won't be able to slime his way out of it.
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    Feb 24, 2012 5:57 PM GMT
    So what do you suggest Obama should have done?
    Oil companies that drill etc put their product on the international global market.
    Are you suggesting they must sell their oil cheaper to US interests? That the gov't should step in and regulate prices? So much for the Republican free market ideal, eh?

    Curious,

    -Doug
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    Feb 24, 2012 6:00 PM GMT
    meninlove said OK riddler, what do you suggest should Obama do about high gas prices?


    1. reduce regulations or make them more intelligent that allow for other fuel conversions for consumer cars (there's no reason that conversions cost 10x+ the cost of what it does elsewhere in the world).
    2. authorize the build of Keystone XL
    3. allow for the development of new refineries
    4. reduce opposition to domestic drilling
    5. allow for reasonable drilling offshore
    6. streamline regulations for new natural gas pipelines so that new shale gas can be diverted for energy production (currently 7% of oil is used for generating electricity)
    7. repeal funding and incentives for wind especially, reduce them for solar (the latter is at a stage where it is already economically viable to develop further if not nearly there - and the former will probably never happen except for a few localized areas)
    8. encourage the export of shale gas technologies to India and China, North Africa and Europe - encourage the investment in developments to the largest consumers of energy globally (diplomacy and trade, not money)

    Am sure there are other things you could do - basically increase supply, reduce demand by reducing the friction to shifting to alternatives.
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    Feb 24, 2012 6:03 PM GMT
    meninlove said

    http://abcnews.go.com/blogs/business/2012/02/how-wall-st-is-raising-the-price-of-gas/



    Hahaha - um - did you watch the video? That's absurd. Speculators can only profit by anticipating future demand - guess what, if demand falls or supply increases in the system, then you expect to see different speculators profiting from the rapid fall in oil prices.
  • CuriousJockAZ

    Posts: 19119

    Feb 24, 2012 6:05 PM GMT
    GQjock saidDesperate attempt at anything that republicans can blame Obama on



    HA! Ohhhhh the irony!! Kind of like the Dems, and specifically Obama, blaming everything under the sun on President Bush icon_rolleyes.gif
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    Feb 24, 2012 9:02 PM GMT
    riddler78 said
    meninlove said OK riddler, what do you suggest should Obama do about high gas prices?


    1. reduce regulations or make them more intelligent that allow for other fuel conversions for consumer cars (there's no reason that conversions cost 10x+ the cost of what it does elsewhere in the world).
    2. authorize the build of Keystone XL
    3. allow for the development of new refineries
    4. reduce opposition to domestic drilling
    5. allow for reasonable drilling offshore
    6. streamline regulations for new natural gas pipelines so that new shale gas can be diverted for energy production (currently 7% of oil is used for generating electricity)
    7. repeal funding and incentives for wind especially, reduce them for solar (the latter is at a stage where it is already economically viable to develop further if not nearly there - and the former will probably never happen except for a few localized areas)
    8. encourage the export of shale gas technologies to India and China, North Africa and Europe - encourage the investment in developments to the largest consumers of energy globally (diplomacy and trade, not money)

    Am sure there are other things you could do - basically increase supply, reduce demand by reducing the friction to shifting to alternatives.


    Shorter riddler: Destroy environment in the service of Exxon Mobil, which already has obscene profits and obscene executive compensation.
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    Feb 24, 2012 9:17 PM GMT
    Christian73 said
    riddler78 said
    meninlove said OK riddler, what do you suggest should Obama do about high gas prices?


    1. reduce regulations or make them more intelligent that allow for other fuel conversions for consumer cars (there's no reason that conversions cost 10x+ the cost of what it does elsewhere in the world).
    2. authorize the build of Keystone XL
    3. allow for the development of new refineries
    4. reduce opposition to domestic drilling
    5. allow for reasonable drilling offshore
    6. streamline regulations for new natural gas pipelines so that new shale gas can be diverted for energy production (currently 7% of oil is used for generating electricity)
    7. repeal funding and incentives for wind especially, reduce them for solar (the latter is at a stage where it is already economically viable to develop further if not nearly there - and the former will probably never happen except for a few localized areas)
    8. encourage the export of shale gas technologies to India and China, North Africa and Europe - encourage the investment in developments to the largest consumers of energy globally (diplomacy and trade, not money)

    Am sure there are other things you could do - basically increase supply, reduce demand by reducing the friction to shifting to alternatives.


    Shorter riddler: Destroy environment in the service of Exxon Mobil, which already has obscene profits and obscene executive compensation.


    Even shorter Christian: Use whatever excuses to punish corporations and wealth creation.
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    Feb 24, 2012 9:34 PM GMT
    riddler78 said
    Christian73 said
    riddler78 said
    meninlove said OK riddler, what do you suggest should Obama do about high gas prices?


    1. reduce regulations or make them more intelligent that allow for other fuel conversions for consumer cars (there's no reason that conversions cost 10x+ the cost of what it does elsewhere in the world).
    2. authorize the build of Keystone XL
    3. allow for the development of new refineries
    4. reduce opposition to domestic drilling
    5. allow for reasonable drilling offshore
    6. streamline regulations for new natural gas pipelines so that new shale gas can be diverted for energy production (currently 7% of oil is used for generating electricity)
    7. repeal funding and incentives for wind especially, reduce them for solar (the latter is at a stage where it is already economically viable to develop further if not nearly there - and the former will probably never happen except for a few localized areas)
    8. encourage the export of shale gas technologies to India and China, North Africa and Europe - encourage the investment in developments to the largest consumers of energy globally (diplomacy and trade, not money)

    Am sure there are other things you could do - basically increase supply, reduce demand by reducing the friction to shifting to alternatives.


    Shorter riddler: Destroy environment in the service of Exxon Mobil, which already has obscene profits and obscene executive compensation.


    Even shorter Christian: Use whatever excuses to punish corporations and wealth creation.


    Incorrect and your continued fantasies about "wealth creation" continue to amuse. icon_lol.gif
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    Feb 24, 2012 9:51 PM GMT
    Christian73 said
    riddler78 said
    Christian73 said
    riddler78 said
    meninlove said OK riddler, what do you suggest should Obama do about high gas prices?


    1. reduce regulations or make them more intelligent that allow for other fuel conversions for consumer cars (there's no reason that conversions cost 10x+ the cost of what it does elsewhere in the world).
    2. authorize the build of Keystone XL
    3. allow for the development of new refineries
    4. reduce opposition to domestic drilling
    5. allow for reasonable drilling offshore
    6. streamline regulations for new natural gas pipelines so that new shale gas can be diverted for energy production (currently 7% of oil is used for generating electricity)
    7. repeal funding and incentives for wind especially, reduce them for solar (the latter is at a stage where it is already economically viable to develop further if not nearly there - and the former will probably never happen except for a few localized areas)
    8. encourage the export of shale gas technologies to India and China, North Africa and Europe - encourage the investment in developments to the largest consumers of energy globally (diplomacy and trade, not money)

    Am sure there are other things you could do - basically increase supply, reduce demand by reducing the friction to shifting to alternatives.


    Shorter riddler: Destroy environment in the service of Exxon Mobil, which already has obscene profits and obscene executive compensation.


    Even shorter Christian: Use whatever excuses to punish corporations and wealth creation.


    Incorrect and your continued fantasies about "wealth creation" continue to amuse. icon_lol.gif


    Says the guy who barely acknowledges it exists. icon_rolleyes.gif
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    Feb 24, 2012 10:10 PM GMT
    Obama takes no responsibility for high petrol prices although he has consistently blocked and slowed down the production of American made energy, from his drilling moratorium to his denial of the keystone pipeline.