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Author Topic: They’re drilling, baby, drilling – and gas prices still going up Back to Topics
KAR120CSII

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Oregon

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Message Posted: Feb 20, 2013 2:47:33 AM

They’re baaaacccck. Like locusts ravaging fertile crops, gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans. And again, financial speculators appear to be a big part of the story.

The national average pump price hit $3.74 for a gallon of unleaded gasoline Tuesday, up a sharp 44 cents per gallon from just a month ago, according to the AAA Motor Club’s Fuel Gauge Report.

“It’s the 33rd day in a row that we’ve seen a consecutive increase” in gasoline prices, said Nancy White, a spokeswoman for AAA, who said there It’s not all supply or demand.

The rising gasoline prices come even as the United States now produces more than half the oil it consumes. In fact, the nearly 800,000 barrel per day increase in U.S. production output from 2011 to 2012...
Visit McClatchy - Truth to Power for full article
REPLIES (newest first) Post a Reply
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 25, 2013 9:46:04 PM

Nahhhhhh... they love higher gas prices....
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 25, 2013 9:45:10 PM

Seems the GOP might have to nationalize the oil companies to lower prices any more.... (grin)
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 23, 2013 7:28:24 AM

Poor sammy....still missing the problems.... and the real answers
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KAR120CSII
Champion Author Oregon

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Message Posted: Feb 21, 2013 9:03:34 PM

Agree -- can't drill your way out when drilling has no effect on the price of gas.
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WanderDan
All-Star Author Dayton

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Message Posted: Feb 21, 2013 12:27:58 AM

cant drill your way out of a fake cost increase....
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lesndave
Champion Author Texas

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Message Posted: Feb 20, 2013 10:35:27 PM

Not surprising
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PDQBlues
Champion Author San Diego

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Message Posted: Feb 20, 2013 9:21:48 PM


SO much for the additional lies of Sarah Palin and the GOP.
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ramammoth
Champion Author Modesto

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Message Posted: Feb 20, 2013 2:41:25 PM

So much for drilling your way out.
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oilfreak
All-Star Author Houston

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Message Posted: Feb 20, 2013 11:00:11 AM

Blame the speculators for all the mess!
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SammyAdams
Champion Author Tallahassee

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Message Posted: Feb 20, 2013 10:24:44 AM

From the article: "Nearly 1 million barrels a day of capacity has been turned off with eight refinery closures or announced closures on the U.S. East Coast and the Caribbean over the past year."

"Another factor is that refiners that turn oil into gasoline have chosen to switch to their summer blends much earlier than normal"

==============================================================

The title of the article doesn't tell the entire story, but you can bet your last Federal Reserve Note that a DECREASE of world oil production would drive the price (at the pump) even higher. Nothing here negates the fact that any increase in U.S. production of crude oil nor that approval of the Keystone XL would be beneficial. This article just doesn't reveal the whole truth of what drives prices of gas and consumer goods.

BO is still an enemy of the middle class and the policies that he has promulgated are precisely those which will impoverish US, soooo

DRILL, BABY, DRILL!

[Edited by: SammyAdams at 2/20/2013 10:27:12 AM EST]
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drpepperTX
Champion Author Texas

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Message Posted: Feb 20, 2013 9:44:54 AM

It's a global commodity folks.
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merlinCO
Champion Author Colorado

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Message Posted: Feb 20, 2013 9:21:13 AM

More ethanol!!!
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the1roadhog
Champion Author Atlanta

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Message Posted: Feb 20, 2013 8:48:00 AM

Ask if I'm surprised? No.
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darshanzala
All-Star Author Illinois

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Message Posted: Feb 20, 2013 8:46:36 AM

Increase in production not reflected in gas prices
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SycamoreISU
Champion Author Indiana

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Message Posted: Feb 20, 2013 8:28:15 AM

When no new refineries have been allowed to be built in the last 35 years, any of them going down will reduce the available supply and raise gas prices.
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AVKZ
Champion Author Kalamazoo

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Message Posted: Feb 20, 2013 8:21:22 AM

Get rid of the speculators.
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Rockyguitar
Champion Author Tampa

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Message Posted: Feb 20, 2013 8:04:34 AM

As much as I hate to say it, something needs to be done in the name of national security and "general welfare." Some limits on speculation are needed. I don't know how it can be done without infringing upon the free market, but I'm sure all those over-educated idiots in D C can figure it out.
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eschroth442
Champion Author Cleveland

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Message Posted: Feb 20, 2013 8:02:50 AM

it's the damn hedge fund speculators time to keep them out of the commodities markets!!
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JDchefF
Champion Author Lancaster

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Message Posted: Feb 20, 2013 8:01:09 AM

Need to do something to stop or slow down the speculation. Not sure what, but Need To Stop The Greed!
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bar1035
Champion Author Charlotte

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Message Posted: Feb 20, 2013 7:59:33 AM

No shortage of speculator aritcles today
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sabre75
Champion Author Florida

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Message Posted: Feb 20, 2013 7:58:11 AM

Losing faith in our system.. Prices going like a rocket.
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grandmacbc
Champion Author Buffalo

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Message Posted: Feb 20, 2013 7:45:05 AM

I'd sure like to see the justification for the prices going up other than someones's pockets!
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kyjlh
Champion Author Kentucky

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Message Posted: Feb 20, 2013 7:44:38 AM

this sure makes Obama happy
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Wally3023
Champion Author Pennsylvania

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Message Posted: Feb 20, 2013 7:44:19 AM

Doesn't mean a thing.
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wrunner
Champion Author Virginia

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Message Posted: Feb 20, 2013 7:17:50 AM

There is enough blame for everyone - on both sides of the political spectrum.

What is important is the solution.

Anyone got one or more?

I sure don't and I am not one to blame anyone who keeps blaming everybody.

Deal with it or it will deal us in.
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07skydriver
Champion Author Ohio

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Message Posted: Feb 20, 2013 6:43:46 AM

So, Palin was not so smart after all. She sure had everybody fooled. AHhahahhaha.
and the cleverest GOPers still quote her
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 20, 2013 6:41:32 AM

So Sister Sarah.... the wise one from Wasilla.... what say you now.... ????? That we still aren't drilling enough?.... Almost the only place that is not being drilled is her backside (grin)
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humblepie
Champion Author Toledo

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Message Posted: Feb 20, 2013 6:36:07 AM

refine baby refine
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 20, 2013 6:32:23 AM

Unless you love higher gas prices... you should be threatening your GOP congressmen for letting them steal from Americans with impunity...
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bills299
Champion Author Atlanta

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Message Posted: Feb 20, 2013 6:31:46 AM

It's crazy how this is all working out!
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 20, 2013 6:30:22 AM

poor pricewar... that was priceless princess...... (grin)....

blaming Obama for speculators????? when the GOP has been their protectors as the ravage and pillage at will.....

Isn't that precious.... to quote an old SNL line.
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MImusicman
Champion Author Michigan

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Message Posted: Feb 20, 2013 6:28:34 AM

Ugh!
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mandoid
Champion Author Alabama

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Message Posted: Feb 20, 2013 6:24:04 AM

+1000 pricewar
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Straitliner
Champion Author Illinois

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Message Posted: Feb 20, 2013 6:16:33 AM

And up up up up and away.
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George0446
Champion Author Massachusetts

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Message Posted: Feb 20, 2013 6:11:29 AM

We may need to put some breaks on speculators making it more difficult to control large blocks of oil. At the same time we need more high efficency refineries.
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dr047
Champion Author Cleveland

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Message Posted: Feb 20, 2013 6:11:18 AM


So much for "Drill Baby Drill"
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yardslave
Champion Author Oklahoma City

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Message Posted: Feb 20, 2013 5:59:03 AM

Dril baby drill.
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grandpadon28110
Champion Author Charlotte

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Message Posted: Feb 20, 2013 5:49:51 AM

Supply and greed makes for a bad position for consumers.
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TheGoatWhisperer
All-Star Author Ohio

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Message Posted: Feb 20, 2013 5:47:06 AM

Investors moving their money, stocks and commodities are in a rally.

The Final Countdown. http://www.goldmoney.com/gold-research/alasdair-macleod/the-final-countdown.html

Governments have refused to accept the necessity of a period of economic re-adjustment following the credit-bubble. The bubble burst about five years ago and economic progress has been effectively suspended ever since. The consequences of this refusal to accept reality are at a minimum to make this adjustment unnecessarily drawn out and needlessly painful, without offering a better eventual outcome.

Reduced to its bare bones, the choice has been either to accept that unviable businesses and over-extended banks must go bust, or to ignore the problem and hope it goes away. We are familiar with this dilemma as investors: a business that refuses to adapt to new realities will eventually fail. Before it does, its investors have the chance either to sell their shares and perhaps reinvest their money more profitably, or to refuse to accept an early loss on their investment. Most of us, being human, take the latter course and usually regret it.

[Edited by: TheGoatWhisperer at 2/20/2013 5:47:51 AM EST]
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leeac
Champion Author Ohio

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Message Posted: Feb 20, 2013 5:42:32 AM

Funny. So much for "drill, baby, drill". Increased supply does not mean lower prices as far as Big Oil is concerned.
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SUPERSTEVIEO
Champion Author Quebec

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Message Posted: Feb 20, 2013 5:32:41 AM

i guess tghis may just be an activity based on the NEW WORLD ORDER... Hmmmm
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farmboyTN
Champion Author Tennessee

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Message Posted: Feb 20, 2013 5:22:17 AM

This doesn't make any senses....we are producing oil and price keeps going up, so I guess greed is working.
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pscamp
Champion Author Ottawa

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Message Posted: Feb 20, 2013 5:03:50 AM

Sigh...
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pricewar
Champion Author Ogden

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Message Posted: Feb 20, 2013 5:02:03 AM

those of you who drank the obama cool-aide are now getting a taste of it.
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CityCouponer
Champion Author New Orleans

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Message Posted: Feb 20, 2013 4:57:27 AM

My wallet's definitely being drilled!
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hokieburgh
Champion Author Virginia

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Message Posted: Feb 20, 2013 4:24:08 AM

so wrong! This is a nasty, nasty thing happening!
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StArrow68
Champion Author Oakland

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Message Posted: Feb 20, 2013 3:52:31 AM

Continuing to cut back, like everyone else, can't be good for America. Administration policies on spending are giving us a weak dollar and that is the cause of high prices.
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Cothrom
Champion Author South Carolina

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Message Posted: Feb 20, 2013 3:30:52 AM

I may be slow at times but the one question on my mind is, where is all this extra money going? Call me dumb, it is probably obvious
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comprof
Champion Author Houston

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Message Posted: Feb 20, 2013 3:27:59 AM

Wzzon says they are hiring 12000 in The Woodlands' expansion. They are building 7000 new homes. We need the jobs.
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angel4me
Champion Author San Jose

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Message Posted: Feb 20, 2013 3:22:32 AM

yup..........
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