Gasoline prices soaring and finally, there’s a reason to blame Obama

 

Prius owners for Obama

Up, up and away with an election growing ever-closer. Refineries in the North East are shutting down, forcing prices up across the nation. Obumpski’s vetoing of the Keystone pipeline may have won him votes among his green crowd but they were going to vote for him anyway. Those who are still considering the matter (hard to believe, but they do exist) are going to hear the words, “not enough pipelines” and remember the veto, regardless of whether that particular pipeline could have been built in time to avoid this. Of course it couldn’t, but if the Republicans can get their act together they’ll lump Keystone in with all the other energy projects stymied by the Democrats over the years and have a winning issue.

Refineries in the Northeast are under financial pressure for two reasons. They have limited access to cheaper, high-grade crude oil produced in the middle of the U.S. because there are not enough pipelines, which is forcing them to pay more for oil from elsewhere, most of it from overseas. And many of their facilities aren’t set up to process lower-grade crude that is cheaper.

As Northeastern refining capacity declines, it will force distributors in the region to buy gasoline from elsewhere, pushing up prices across the country and increasing the likelihood of price spikes, government officials and analysts warn.

“There’s now going to be a question if we can get enough gasoline into the East Coast for summer,” said David Greely, an energy analyst at Goldman Sachs Group Inc. The U.S. Energy Department has warned a shortfall could develop as early as July.

12 Comments

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12 responses to “Gasoline prices soaring and finally, there’s a reason to blame Obama

  1. Come on blame Bush.
    Obumbler has not approved an acre of new Fed land.
    If Bush had not encouraged the greatest advance in discovery and recovery of our vast resources despite the pathetic Pontifical Dazzy Shays sissy fits gas would be at the desired European levels.
    If it were not for Bush the Harvidiotic Green Lefties would have already been forced to offer their alternatve.
    Open borders for rickshaw talent as registered voters.

  2. DollarBill

    All hail GW Bush! Hate to burst your bubble, Teabaggers, but for what it’s worth, the price of gas more than doubled from the time President Bush took office to its peak in the summer of 2008…link here..

    http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W

  3. DollarBill

    Vetoing Keystone pipeline does not translate into higher gas prices domestically, as any economist will tell you, as the price of gas is determined by higher demand for oil and gas on world markets. As well as the fears of a Mideast war over Iran — a war which you warmongering Teabaggers idiotically support, even though it would send prices skyrocketing. Domestic oil and gas production has increased under Obama.

    CF, if ignorance ever goes to $100 a barrel, I want the drilling rights to your head!

    • Ignorance will never have a monetary value, Bill so long as you dispense it so freely here and, I’m sure, out in the larger world.
      But you might – might, I say, try reading the article I linked to – I even linked to the Google version to allow you to get beyond the WSJ pay wall and, for a person as lazy as you, included an excerpt. I tried to find a cartoon version just for you but alas, no such luck.
      By the way, just because ignorance is free doesn’t mean it doesn’t carry a high price tag.

  4. ISD

    Your link doesn’t bypass the WSJ pay wall. Nevertheless, your excerpt doesn’t imply Keystone has anything to do with the Northeast supply. Oil is traded on the world market so whatever happens CONUS has little to no impact on the world price of oil. As far as gas prices, those are in part a refinery issue. The Keystone pipeline to LA refineries will likely decrease the price of gas in the south, but will increase the price of gas in the midwest since there will be less refinery capacity there.

    If we had subsidized alternative energy during the past 20 years, the way we’ve subsidized big oil for the past 70 years, we wouldn’t be as dependent on mideast oil. Unfortunately, the oil lobbyists control government so we will never have a coherent energy policy.

    • Dear ISD – sorry you couldn’t navigate Google without assistance – it’s difficult, I know, but obviously not as difficult as actually reading my post. Here’s the relevant passage, in bold, so that this time you won’t miss it:

      [They] are going to hear the words, “not enough pipelines” and remember the veto, regardless of whether that particular pipeline [Keystone] could have been built in time to avoid this. Of course it couldn’t, but if the Republicans can get their act together they’ll lump Keystone in with all the other energy projects stymied by the Democrats over the years and have a winning issue.

  5. ISD

    I guess it’s not clear to me what energy projects Democrats have stymied…the US is at its highest oil production levels ever and more drilling leases issued, ever.

    My interpretation of the excerpt is that the Republicans are just trying to formulate yet another number sticker response to the rising gas prices, which response will have little to no bearing on the issue at hand.

  6. digler

    Gas is expensive because oil is priced in dollars and the more dollars we print the more expensive oil will get. It is that simple. Why do you fools {$Bill and ISD} not understand this? This is just basic economics and has nothing to do with either political party.

  7. Sekuru

    “the US is at its highest oil production levels ever…”

    OOPS
    http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=A

  8. Sekuru

    “and more drilling leases issued, ever>”

    OOPS

    Click to access chart_2011_03.pdf

  9. Sekuru

    The Bush era price spikes for oil had much to do with the increase in demand from China and India and some supply side constraints (peak oil and geopolitical worries). The present day spike has a link to Iran because sanctions targeting exports have some bit and and Iran has been rattling the saber in response. Also, supply is tight and there is unrest in some production areas. Oil and gas production is up the last few years because of fracking and has nothing to do with any government policies which as any cursory research will show have consistently focused on slowing the supply of conventional energy in an attempt to help bolster alternative fuels.

  10. Anonymous

    Bush opened vast areas to offshore drilling and prices fell by something like 50% in the following months.

    I’m sure “the economists” were wrong then too. Dems oppose expanding supply because they what high prices for their friends.