Friday October 5, 2012, 6:52 pm
CA's spikes are due to Chevron's health and safety violations related to their Richmond refinery fire affecting CA's supplies. The rest is commodities speculation as per Saudia Arabia's sharing how prices get set (lots of coverage available for any who want the actual facts related to the prices we pay at the pump).
Saturday October 6, 2012, 12:46 pm
Stop blaming the president for everything. The reason gas prices are high in California, and around the country is because of the limited refining capacities in the U.S. Gas prices are tied to more than the going price of crude bbl prices. We are using less gasoline now than ever before due to the efficiency of cars and trucks. But, the ability to produce gasoline has been limited (with intent) by fuel corporations by limiting refining capacity. No new refineries have been built in the U.S. in over 30 years. With the crude petroleum fuel stocks of the world dwindling, and the efficiency improving, the only option left for increasing profits is by limiting supply. The resource has approximately 50 years of supply left. The petroleum companies are limiting supply to keep prices high as long as possible. They need to develop other forms of income, natural gas, oil shale, tar sands, before the relatively easy fossil fuel runs out. So the idea is, sell less, and make more.
Saturday October 6, 2012, 12:47 pm
High gas prices are noth the fault of the President....it is the fault of the speculators. Until we reign in the abuses of the speculators and institute all of the regulations that protected this economy BEFORE BUSH II, we will continue to pay far more for fuel than it is worth and the economy will continue to suffer.
Saturday October 6, 2012, 12:57 pm
When gas prices were rising in 2009, during George W. Bush's term, he said, "I wish I could simply wave a magic wand and lower gas prices tomorrow. I'd do that." In other words, it wasn't the President's fault.
Some people are now saying that it's Obama's fault the gas prices keep rising. Those are the people who are trying to affect the presidential race, by spreading lies, and are cheering about the high prices, never mind how adversely they're affecting the average person.
Now, I think GWB was the worst ever . . . but even the worst liars tell the truth once in a while: The President doesn't set gas prices. The gas companies do. And (speculators aside) they do this despite the billions of taxpayer dollars that they rake in in the form of "subsidies."
Saturday October 6, 2012, 5:14 pm
Thank you J.L. and Christopher for mentioning oil speculation. If I remember right, Obama could've done something about it when appointing someone to a board several months ago. He made the wrong choice, in my opinion....I don't know why. There was a letter writing campaign at the time for him to be strong against commodity speculation....esp. oil--but it appears he's as beholden as Dumbya was to Big Oil. I'm sure Willard would be even worse, though.
Watch the market daily and see how oil price for a barrel likes to hang around the 90's....often pushing up 100 and more. Then, when enough complain, (I guess)....it starts to creep back down. I think it was down to around 78 last summer before it started creeping up again. This really angers me, as there should be something that can be done.
Sunday October 7, 2012, 8:30 am
The answer is in controls on the amrket. Yes, speculation is the major cause as is price gouging. Obama has had four years to fix any removal of control and has chosen not to do so despite signing more executive orders than ALL the previous presidents combines! The man is all smoke, mirrors and no environmental substance.