Under George W. Bush, gas prices increased 275 percent (2001 – 2008)

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Superfreak said:
Poor Dune... The point retard is that if he is going to quote what gas prices were from the start to finish, he should actually include the start and FINISH rather than a cherry picked high point. The $4.40 was also an aberration. As was the insanely low gas prices at the turn of the century. Or do you believe oil really only cost $10 a barrel in 1999?
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The price of oil bottom out at $11 dollars in 1999. If you wish, I can link up the proof for you. Forbes has a chart.
 
Rana said:
The price of oil bottom out at $11 dollars in 1999. If you wish, I can link up the proof for you. Forbes has a chart.
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Lol... I was going from memory... I will take your word that it went to $11 and not $10. I imagine that will dramatically alter my point.
 
\\(())// said:
Average gas prices--January 26, 2009: Regular gasoline/gallon $1.84

Did Righties give Obama credit for the low prices that occurred following his inauguration?

http://news.consumerreports.org/cars/2009/01/average-gas-pricesjanuary-26-2009.html
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No, because he didn't deserve any credit.

Gas prices are not controlled by presidents.

Don't tell the GOP, though. They think gas prices are controlled by Democrat presidents.

Earlier this month, GOP front-runner Mitt Romney said of his solution to higher gas prices: "I can cut through the baloney ... and just tell him, 'Mr. President, open up drilling in the Gulf, open up drilling in ANWR (the Arctic National Wildlife Refuge). Open up drilling in continental shelf, drill in North Dakota, drill in Oklahoma and Texas.'"

Sen. Lisa Murkowski, R-Alaska, said on the Senate floor last week, "With oil prices above $100 a barrel and gasoline soaring toward $4 a gallon, greater production is not a political opportunity, it is a legislative imperative."

Supporters of the controversial Keystone XL pipeline say it would bring 25 million barrels of oil to the United States a month. That's the same increase in U.S. production that occurred between February and November last year. Monthly gas prices went up a dime a gallon in that time.


http://www.cbsnews.com/8301-505245_162-57401352/fact-check-more-us-drilling-didnt-drop-gas-price/
 
\\(())// said:

Gas prices are not controlled by presidents.
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and yet, when Obama reinstated the domestic drilling limits in February, 2009, the price of oil started rising and kept rising consistently until now....

sheer coincidence of course....Obama had nothing to do with it....
 
PostmodernProphet said:
and yet, when Obama reinstated the domestic drilling limits in February, 2009, the price of oil started rising and kept rising consistently until now....sheer coincidence of course....Obama had nothing to do with it....
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Is US domestic production higher now than it's been in years?

Poor PiMP.

The late 1980s and 1990s show exactly how domestic drilling is not related to gas prices.

Seasonally adjusted U.S. oil production dropped steadily from February 1986 until three years ago.

But starting in March 1986, inflation-adjusted gas prices fell below the $2-a-gallon mark and stayed there for most of the rest of the 1980s and 1990s.

Production between 1986 and 1999 dropped by nearly one-third.

If the drill-now theory were correct, prices should have soared.

Instead they went down by nearly a dollar.

The AP analysis used Energy Department figures for regular unleaded gas prices adjusted for inflation to 2012 dollars, oil production and oil demand.

The figures go back to January 1976, the earliest the Energy Department keeps figures on unleaded gas prices.

University of South Carolina statistics professor John Grego, New York University statistics professor Edward Melnick and David Peterson, a retired Duke University statistics professor, looked at the analysis, ran their own calculations, including several complicated formulas, and came to the same conclusion.

When U.S. production goes up, the price of gas "is certainly not going down," Melnick said. "The data does not suggest that whatsoever."

The calculations "help make the point that U.S. production and demand have little to do with the price of gasoline in the U.S., and lend support to the notion that there is not a great deal we in the U.S., acting alone, can do to affect the price of gasoline," Peterson wrote in an email.

He pointed out that Energy Department figures show that gas prices in the U.S. seem to rise and fall similarly to gas prices in Europe, showing that it has little to do with American drilling.

http://www.cbsnews.com/8301-505245_162-57401352/fact-check-more-us-drilling-didnt-drop-gas-price/
 
PostmodernProphet said:
really?....I just showed data which suggested exactly that.....
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No, you didn't.

American oil production is about 11 percent of the world's output, so even if the U.S. were to increase its oil production by 50 percent — that is more than drilling in the Arctic, increased public-lands and offshore drilling, and the Canadian pipeline would provide — it would at most cut gas prices by 10 percent.

http://www.cbsnews.com/8301-505245_162-57401352/fact-check-more-us-drilling-didnt-drop-gas-price/
 
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