In response to:

Lots of Recoverable Oil, But One Non-Recoverable President

Ed Darrell Wrote: Sep 14, 2012 3:52 AM
But the reality is that increasing U.S. oil supplies, or production, or exploration, doesn't necessarily bring down the price of gasoline, especially because that is dictated more by the futures market. The futures market is looking, now, at instability in the Middle East, especially Iran, and China's growing markets. Over the past year or so, fear of war in Iran has driven up oil -- so every time Rick Santorum said we ought to bomb Tehran, your gasoline went up another $0.10/gallon. Romney's wild pronouncements about supporting war in the Gulf keep the prices up. What about drilling in the U.S.? Well, Obama's allowed that, in spades. In fact, on Obama's watch, oil exploration is up, oil production is up, . . . .
Bernard83 Wrote: Sep 14, 2012 8:22 AM
Every time the price of gas gets high enough to put pressure on the president (which ever president) the cries go up that we can't drill our way out of the high prices and then finally the president says the 'Stratigic Oil Reserves' will be opened to increase the supply and like magic the prices fall.
So more supply won't drive the price of oil and gas down........ Right?
Account closed Wrote: Sep 14, 2012 4:33 AM
The futures market looked at Bush's revocation of the offshore drilling ban. The price of oil dropped to $37/barrel. What do you think $1.50/gal gas would do for this economy?

Obama is either the world's biggest idiot or he is an Alinskyite trying to strangle America and rise to the throne on major economic crisis.

The Dems created the first Big Crisis of his era thru Fannie and Freddie. They would be more than happy to do it again using our natural resources.
Joe960 Wrote: Sep 14, 2012 4:31 AM
Oproduction is up because Obama can't stop the private sector from drilling on provate land. Drilling on public land requires permits that the administration has virtually shut down completely.
modernmover Wrote: Sep 14, 2012 6:31 AM
The new permits that have been issued were applied for during the Bush administration. These permits take years to be processed.
Joe960 Wrote: Sep 14, 2012 4:31 AM
Oproduction is up because Obama can't stop the private sector from drilling on provate land. Drilling on public land requires permits that the administration has virtually shut down completely.

There was a time in this country when ordinary people understood the connection between high gas prices and a sluggish economy. The pain they felt wasn’t just at the pump, but also at the office and in the warehouse.

Higher prices for gas meant job insecurity, slashing department budgets and less money at bonus time, if bonus time actually occurred at all.

There was time in this country when even government economists and network journalists knew this fact.

Over the last decade the biggest problems  in our economy has been massive new spending by state, local and the federal government...