17 thoughts on “Rising Gas Prices

  1. Gregg

    From the article:

    “The new Wall Street Journal economic survey pegs 2012 GDP growth at 2.5 percent, unemployment at 8 percent. Good enough for an Obama reelection? Maybe. For the U.S. economy? Hardly.”

    That Obama could even have a chance given those stats is pretty astonishing. When you add to that his recorded clear statement that he wants gas prices to go up; that he wants the opening of a coal plant to bankrupt the owners; that he wants to spread the wealth around; that he shuts off Keystone and refuses new leases; that he has the unmitigated gall to give a speech at Boeing after the NLRB had the gall to interfere with Boeing business decisions….

    and one and on…..

    ..after all this that he has even a remote chance of being re-elected is nothing short of astonishing to me.

      1. rickl

        That seems to have been the “purpose” of the interminable series of debates. The MSM and the pollsters were able to pick the front-runner and winnow the field before any of those pesky primary voters got to have their say.

  2. Mr. Fred

    I predict gas prices this November will be much lower than they are now. That will be the pay off for vetoing the XL pipeline. Did you think BHO was bowing to the Saudi King because he liked him?

    1. Gregg

      And yet, Saudi Arabia has cut production…

      That would fit in with His Bower’s plan to drive up prices.

      1. Gregg

        …therefore I predict that if gas prices are lower in November, it will not be until fairly close to November, and if Obama wins, right after November they will go higher than ever.

        Obama is on record to wanting gas prices to go high.

        For a while the oil producers (like the Saudi’s) get to rake in huge profits. Funny how huge profits are ok for the people Obama bows to.

  3. Chris Gerrib

    The funny thing about rising gas prices is they come at a time when The number of rigs in U.S. oil fields has more than quad­rupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of the world. (link from the Houston Chronicle)

    It seems to me that we’re doing all the “drill, baby drill” we can. Perhaps some other factor (such as demand from China and India) is pushing up prices?

  4. Rand Simberg Post author

    It seems to me that we’re doing all the “drill, baby drill” we can.

    We’re not doing all that we can, we’re doing all that the Dems allow us to. Most of those wells that have come on line in the Obama administration were started during the Bush administration. Obama shut down a lot of drilling in the Gulf, and we’re not allowed to go after shale, or off the Pacific Coast, or ANWR. We’re a long way from drill-baby-drilling as much as we can. Fortunately, the natural-gas boom will help a lot as people start switching to it from petroleum-based products. But solar or wind are not going to help, regardless of how many billions in taxpayer dollars are poured down the rat holes.

    1. Chris Gerrib

      If you’d actually read the article instead of posting a knee-jerk response, you’d have seen But many say the booming shale oil fields in Texas and North Dakota and the growth of deep-water drilling in the Gulf of Mexico will allow the nation to cut its reliance on oil imports significantly over the next couple of decades.

      So, either the Houston Chronicle didn’t get the news about the Gulf (you know, that big body of water just east of them) getting shut down (along with shale) or you don’t know what you’re talking about.

        1. Chris Gerrib

          So what exactly do the words Obama shut down a lot of drilling in the Gulf mean? What exactly does we’re not allowed to go after shale mean?

          I’m not Karnak the Magnificent. I can only interpret what you write, not what you think you wrote.

          1. Rand Simberg Post author

            It means that the moratorium that the administration put on deep-ocean drilling, despite the fact that the scientific report didn’t recommend it (part of the administration’s war on science) and a judge ordered it lifted, remains in place, and to the degree that it was lifted, we’ve already lost a lot of the rigs to other locations, and new ones won’t be available for years. There would be much more drilling (and production) going on if that hadn’t happened. And yes, much of the shale on the Western slope remains unavailable due to (mostly) Democrat opposition.

  5. Chris Gerrib

    Regarding the moratorium on deep-water drilling: Seeking Alpha investment website disagrees. Money quote: “So we see steady growth in deepwater drilling rig counts during 2012, roughly about a rig a month. So we would be at pre-Macondo levels for drilling rigs in the deepwater by the latter part of 2012.”

    Sounds like the moratorium’s been lifted.

    1. Rand Simberg Post author

      Fine, the fact remains that there’s been a lot less drilling in the past three years, which means there will be less production in future years than there would have been without the moratorium. The administration retarded energy production, for no good reason.

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