price of oil goes up then down on increasing us oil supply

How can that be? PiMP and Dixie say Obama has "restricted" oil production and caused prices to skyrocket!
 
Don Quixote said:
it must be a strain to have to be right all of the time
Click to expand...

But, back in 2008, Fox said presidents don't control gas prices.


[video=youtube;UzEnKdBAb_o]http://www.youtube.com/watch?feature=player_embedded&v=UzEnKdBAb_o[/video]
 
obviously it can.....because he hasn't done anything.....he should....Jimmy Carter didn't do anything either.....look where that took him......
 
PostmodernProphet said:
obviously it can.....because he hasn't done anything.....he should....Jimmy Carter didn't do anything either.....look where that took him......
Click to expand...

Fox said presidents don't control gas prices.

[video=youtube;UzEnKdBAb_o]http://www.youtube.com/watch?feature=player_embedded&v=UzEnKdBAb_o[/video]
 
is there some reason I should care what O'Reilly said?......

Isn't it ironic that Obama's presidency parallels Carter's so closely?.........inflation, gasoline crisis, Iran, one term......
 
So Fox News lied when they said presidents don't control gas prices?
 
who has said presidents control gas prices?.....I have merely pointed out that Obama should lift the restrictions on domestic production.......when Bush did it, the price dropped dramatically.....all the liberals claim to be in favor of it, certainly the conservatives are.......it must only be Obama who opposes it.....
 
PostmodernProphet said:
who has said presidents control gas prices?.....I have merely pointed out that Obama should lift the restrictions on domestic production.......when Bush did it, the price dropped dramatically.....all the liberals claim to be in favor of it, certainly the conservatives are.......it must only be Obama who opposes it.....
Click to expand...

"When Bush did it, the price dropped dramatically."


Seriously?


Not immediately, although they did temporarily drop.


But then they rose again.


In fact, the price of oil, and thus, the price of gasoline, fluctuated throughout the Bush presidency, causing his political opponents to accuse him of manipulating the price because he was a former oil executive.


There were spikes in oil prices in 2005, 2006, and again in 2008.


It is a common myth that drilling will solve the problem of high oil prices, and economists have noted that the issue is far more complicated: it involves world oil prices (a crisis in some oil-producing region can cause insecurity in world markets, for example); another factor is Wall Street speculators trying to cause a boost in the price in order to make more profits.


That said, neither President Bush nor President Obama is solely in control of oil prices.


Their policies may contribute to whether the price rises or falls in the short term, but in a global economy, there are no simple solutions, and no one thing that any president can do that will bring long-term improvements.



http://wiki.answers.com/Q/Did_oil_p..._executive_restrictions_on_off-shore_drilling
 
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