Free Markets, Free People

Obama is on the problem of high gas prices

Yes indeed, he’s focused like a laser beam. He has figured out how to proceed. You’ll be seeing relief soon. He’s … setting up a task force to look into speculation?!

Er, seems so.  Read this:

"I think the American people understand that we don’t have a silver bullet when it comes to gas prices. We’ve been talking about this for 30 years. The only way to stabilize gas prices is to reduce our dependency on fore oil and we just put out a report that over the last year or so, we’ve been able to reduce our dependence on foreign oil by a million barrels. That’s’ significant. In the meantime, cuz I know people are hurting right now and it feels like a tax out of their paychecks, what we’re doing is looking at every single area that can affect gas prices, from bottlenecks that are out there, we’ve set up a task force to look into speculation to make sure people are taking advantage of the situation on the global oil markets," President Obama told WKRC-TV.

Line by line:

I think the American people understand that we don’t have a silver bullet when it comes to gas prices. We’ve been talking about this for 30 years.

I think the American people understand something Barack Obama and the Democrats don’t understand – if we’d have been drilling everywhere for those 30 years instead of flapping our jaws about “silver bullets”, we’d be much better off today, in terms of oil supply and price, than we are now.

Oh, by the way, we’ve been talking about alternative energy for 30 years too and look where we are.

The only way to stabilize gas prices is to reduce our dependency on foreign oil and we just put out a report that over the last year or so, we’ve been able to reduce our dependence on foreign oil by a million barrels.

Well, two points.  One we’re in a deep recession, so oil consumption is down considerably because business and commerce are down significantly.  And two, another way to have an effect on oil prices is to what?  That’s right, increase supply.

That’s’ significant. In the meantime, cuz I know people are hurting right now and it feels like a tax out of their paychecks, what we’re doing is looking at every single area that can affect gas prices, from bottlenecks that are out there, we’ve set up a task force to look into speculation to make sure people are taking advantage of the situation on the global oil markets

Translation: I haven’t a clue so I’m setting up a task force which helps me kick the can down the road a bit.  And the task force will inevitably find that “speculators” are the problem (a hat tip to Nancy Pelosi for the idea), and I’ll be able to call for Congress to pass a law while I again try to pass the blame off to the 1%.

Now that’s leadership.

~McQ

Twitter: @McQandO

38 Responses to Obama is on the problem of high gas prices

  • “…from bottlenecks that are out there, we’ve set up a task force to look into speculation to make sure people are taking advantage of the situation on the global oil markets…”——————————————————————-
    That’s more than a little Freudian…”to make sure people are taking advantage…” By which, I suppose he means the “right people” are taking advantage. We need a “bottleneck” czar, too. That’ll do wonders.

    • @tadcf Your point being…????

    • @tadcf Measured in dollars, meaningless. Try measuring it in gallons or barrels because that is a fixed measure and can be compared to previous fixed measures. This is another fun with meaningless numbers game and they wouldn’t have bothered except if allows them to say we’re exporting more. This is a first run up to a claim that ‘the market’ is recklessly sending ‘our’ fuel overseas for profit instead of keeping it here in the US and lowering the price. Bet me.

    • @tadcf and we’re getting the oil to turn into fuel from where? Alternative energy sources like wind and solar? “We’ve” been exporting gas as a product since 2008.

      • @looker I hear the next green source of oil is snakes, at least so I am told by the salesmen.

        • @DocD cures ague, rheumatis, warts, dyspepsia, consumption and gout. Guaranteed to put the lead back in your pencil and makes a mighty fine polish for silverware, brass or furniture. Can be used to treat your property for slugs and varmints too.

    • @tadcf So if we have so much why is Obama going to tap into the Strategic Reserve?

      • @sshiell Because Obama has developed a new economics. You use cheap oil, and replace it with expensive oil…then…PROFIT!!!

  • ‘you proles are FORCING me to actually pay attention to something. Which is foolish you know, because as I told you in 2008, this is part of the long term plan, and if there’s one thing I’m about it’s LONG term plans where we can talk, and talk, and talk, and I can tell you it’s going to be better at some point in the future where I’m not accountable. But since you’ve FORCED me to talk about this, I’m going to establish a commission, and that commission will study this problem, and by the time they come back with a result, I’ll either be back in the White House, or back in Chicago. In the meantime, there are some things you should know, I. AM. OZ, don’t vote for Sarah Palin, she wants to control your womb and restrict your access to contraceptives! Thank you, Michelle will be passing the hat around, we’d like to keep the donations to a minimum of $10k please.”

  • “The only way to stabilize gas prices is to reduce our dependency on foreign oil…” Ummmm…Keystone… Dude!

    • @Ragspierre And he will, just as soon as gas prices stabilize around the level of the price in Europe.

    • @Ragspierre

      The dems response will be Keystone wouldn’t have helped with supply in this country and would have caused prices to increase: http://www.msnbc.msn.com/id/46689167/ns/us_news-christian_science_monitor/t/how-much-would-keystone-pipeline-help-us-consumers/#.T2HySnkeC-x and http://www.bloomberg.com/news/2012-03-01/keystone-oil-pipeline-seen-raising-gas-prices-in-midwest-energy.html

      They will also be all over speculators for the foreseeable future. Anything to blame someone else.

      • @Johnny Jones Oh, yeah. I know. Saw a piece the other day about how a Keystone spill would be more costly than any benefit. Idiots have been saying it would cause HIGHER prices, and that it would DECREASE employment. Liars lie. Collectivists are liars. Simple rules to live by…

        • @Ragspierre Were they planning on the Exxon Valdez running aground in Nebraska?

        • @Ragspierre Which is of course why no one has ever built thousands and thousands of miles of pipeline in dozens of countries…

        • @DocD And many miles of those foreign pipelines run through areas where they are subject to attack. It isn’t like we have no experience remediating a pipeline rupture. And this one is not supposed to even run on the surface, as I understand. I’ve buried miles of pipe with a liner that limits any damage from a spill, but I guess that is too hard for a lot of idiots to research. Oh, well….

        • @Ragspierre And of course, pipelines, just like grounded oil tankers, do not come with valves to shut them off.

        • @Ragspierre Oh, balderdash, I saw it on Captain Planet, those pipes are built like french drains, they’re just full of holes so the oil spews out of them and kills the fluffy furry animals and the indigenous population, that’s the purpose!

        • @Ragspierre

          Why, it seems like only yesterday I used to watch used oil (just chock full of added toxic stuff) being sprayed on dirt roads, parking lots, construction areas, etc. to keep the dust down. A common practice that went on for decades.

  • “The reality is, gasoline prices have doubled under this president, highest prices for oil and gasoline in a 150 years. People used to think it was because of incompetence from Obama administration on energy — I think it’s because of ideology. They’re pursuing a radical environmental ideology… ” –Gov. Bobby Jindal Heh.

    • @Ragspierre I’ve come to the same conclusion, it’s not an accident, it’s part of some whackjob plan.

      • @looker As I’ve said…they want you out of your car, out of the air, in a less comfortable home, living a darker, shorter, less healthy, less traveled life. They do NOT like people.

        • @Ragspierre Nah, they just don’t like SOME people, and chances are, I’m one of them. I think wrong, and I vote wrong, so I deserve to live in the dark and suffer until I see the way to ‘rightness’.

        • Meanwhile however, my wealth and effort can be employed for good causes.

  • Isn’t this his way of putting off anything hard?

    Commissions that will get back to you right after the next election.

    • @Harun It is also an Alinsky tactic. He keeps screwing stuff up by design, while keeping people confused by his constant contradictions and head-fakes.

      • @Ragspierre Occam’s Razor clearly states that when you screw up this much, it must be by design because people aren’t simply this much of a, excuse the German term, dummkopf.

  • ‘President Barack Obama and British Prime Minister David Cameron discussed the possibility of releasing emergency oil reserves during a meeting on Wednesday, two sources familiar with the talks said, the first sign that Obama is starting to test global support for an effort to knock back near-record fuel prices. Obama raised the issue during a broad bilateral meeting at the White House, according to a UK official with knowledge of the discussion.’

    http://www.reuters.com/article/2012/03/15/us-obama-energy-spr-idUSBRE82E00P20120315

    • @Neo_ Ewww… They are discharging fluids together. Nasty…

    • @Neo_ But we know from economic geniuses that increasing supply cannot reduce prices. After all, if increasing US drilling and production will not reduce the price then how on Earth can tapping the SPR do it?? I mean, petroleum is a fungible commodity and is traded on an international market! Can someone please hook-up the Prez with the Prof??

  • But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities — enough to meet all the country’s oil needs for hundreds of years.

    The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world’s proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves “are a small subset of recoverable resources,” because they only count oil that companies are currently drilling for in existing fields.

    When you look at the whole picture, it turns out that there are vast supplies of oil in the U.S., according to various government reports. Among them:

    At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government’s Bureau of Ocean Energy Management.

    About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.

    Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, says the U.S. Geological Survey.

    Up to 12 billion barrels in ANWR, according to the USGS.

    As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.

    Then, there’s the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it’s heated.

  • “, cuz I know people are hurting ”
    ———————–”cuz”???? More of that legendary Obama eloquence.

    ————-”we’ve set up a task force”….They can take up where the last task force left off, and they will get the same result-nada.

    • @timactual From the teleprompter’s lips to the public’s ears.

    • @timactual He was addressing an audience he knew he could safely talk down to. Why? ‘Cuz…