does this quote from obama make sense?
“think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting.”
In a recession there is a lot less demand for oil bringing prices down.
Yes.
No , it does not make sense , the same amount of people or more in the world now are not driving to work as then.
Does it make sense?
Anyone who thinks gas was less than two bucks a gallon in 2008 probably couldn't put fuel in a car if he had a gas can and a key to the trunk. He couldn't figure out how to get the nozzle off the pump and turn the thing on.
The economy is no better now than four years ago. Not one bit. If a lack of demand due to the economic malaise were the only factor, gas would cost about the same now as it did then.
Obama policies, especially in regard to economics and energy, are pretty damned hard to distinguish from Dubya's, too. In fact, we know his policies are very similar. We don't know that about Romney because Romney is keeping those policies Top Secret. If he told us what his policies are, he'd have to kill us.
Do they make sense? I don't recall hearing anything during that debate that made much sense.
Originally Posted by Will Rogers
There was a sharp drop in demand for oil when the global economy collapsed. The drop was quicker than production of oil could respond to so prices fell. Demand has risen since then and so have prices. There was not action by the Bush administration which drove down the price of gas and there was no action by Obama which caused it to rise from its low. If Ron Paul was president at the time, the same thing would have happened. If the economy grows faster, so will the demand for oil and the price will rise even more. Most of the increase in demand since then comes from China.
http://www.economist.com/blogs/daily...nd-consumptionIn China alone consumption has risen by over 4m barrels per day in the past decade, accounting for two-fifths of the global rise. In 2010 consumption exceeded production by over 5m barrels per day for the first year ever, as world oil stocks were run down.
Chart from same link: (note the dip in demand in 2008):
Last edited by Zippyjuan; 10-18-2012 at 11:46 AM.
Freedom is a state of mind. Nobody can take that from you unless you let them.
Kind of strong statements. I think the Dubya Administration does share complicity in the trashing of the economy, for example. And starting a few more Mid-East police actions in Libya, among others, did help increase the oil price.
Gas did get below 2 dollars in 2008
"Look, the American people have chosen to have a fiat money standard because they want a welfare state. You cannot have a gold standard and a welfare state at the same time. You have to make the choice. We have made a decision as a society that we’ll be dealing with the welfare state." -Alan Greenspan
Ummm....
I agree he (and Congress) did impact the economy. But they can't target a price like oil (well, to a limited extent they can if they decide to tap the Strategic Oil reserve to increase supplies).Kind of strong statements. I think the Dubya Administration does share complicity in the trashing of the economy, for example. And starting a few more Mid-East police actions in Libya, among others, did help increase the oil price.
Last edited by Zippyjuan; 10-18-2012 at 12:55 PM.
Freedom is a state of mind. Nobody can take that from you unless you let them.
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