Please PLEASE Don't Vote Him In Again..

[stmadeveloper]

Wrong - barrels of oil are actually at a low in value (priced in gold, silver, anything other than currency).

We pay so much because of inflation.

Energy isn't factored into our "inflation rates" so it doesn't show up on the infaltion index -- but it's there because our dollar isn't worth shit atm.

 

[DocApocalypto]

its inflation bro. the hidden tax ja medjah never talks about. yes, speculation drives prices up, but its a tired line from those that ignore or don't understand monetary policy.

 

[Rexibit]

Wrong - barrels of oil are actually at a low in value (priced in gold, silver, anything other than currency).

We pay so much because of inflation.

Energy isn't factored into our "inflation rates" so it doesn't show up on the infaltion index -- but it's there because our dollar isn't worth shit atm.

It's not about inflation, mate. It's about increasing profit as much as large corporations can get away with.

Here's a great chart showing gas prices over the last century adjusted for inflation:

InflationData: Gasoline Inflation

If you'll notice, from the 1930's through the '70's inflation-adjusted prices of gas went down as the nominal price increased. The 1980's had huge spikes in gas prices, which forced the inflation rate of the whole country. Then it fell sharply and rose again in 2004-2005.

Since America left the Gold standard and Oil started using the American Dollar as the standard for trade, the USD has been propped up by Oil. Every spike in the cost of Crude forces inflation. I am well aware that summation doesn't correlate with causation, but it's pretty evident when you look at the statistics.

I'm fairly certain Guerilla can shed more light on this for you because I wasn't aware of the dollar being propped up by Oil until he pointed it out.

 

[Dresden14]

Gas prices are high because of inflation, no president can fix that until we stop printing money.

Gas prices are high due to overpopulation. Supply and demand; so few resources = to many people. With the investion of the car; to many people started going places and started bangin resulting in to many dam people. It's only going to go up.

 

[Moxie]

If you'll notice, from the 1930's through the '70's inflation-adjusted prices of gas went down as the nominal price increased.

Part of that may have been because of things like drilling and transportation becoming more and more efficient.

There's always going to be multiple factors that affect the price. Huge inflations in the amount of dollars floating around is one of them.


[ame="http://www.youtube.com/watch?v=eQYy25kLijA"]The truth about rising gas prices, the stock market, & Warren Buffett's taxes - YouTube[/ame]

 

[1yerrot]

Obama will be here for another term.

The sun is hot.

 

[infoslob]

Gas prices are high because a few years ago market speculators ran the prices of Crude barrels up.

Since Big Oil, Bush, and Cheney had vested interest in the price of Crude, they set the precident by keeping it at above $2.50/gallon even after the speculators were slammed by the MSM months later when the prices of everything shot up due to the ramiphications of high costs of transport and shipping.

This of course resulted in very happy shareholders due to an exponential increase in profits. Now, since shareholders enjoy seeing even higher profit margins each quarter, they couldn't very well lower the price of refined gas when the market speculators allowed the prices of crude below $80/barrel again could they? No.

This is why gas hasn't gone back down to fluctuate around $1.50 like it was since the 80's through the early '00's. People don't want to lower their profit margins, even though it would greately benefit the economy as a whole.

It's not just Big Oil, it's like this in the Food industry as well with the prices of Bread, Cheese, Meat, Milk, etc. Once as large Manufacturer sets a precident of keeping supply at a certain rate, the others in the market will do the same and it becomes the norm.

(It's called inflation, bub)

Re: gas ... demand is down, inventory is up, and the price is up. Dollar is not buying what it used to. Like blokblok says, we're printing money - probably for political reasons, not for a sole entity or sector to profit from - the machine is too big for "Big Oil" or "Big Cheese" to manipulate - I am not alone in thinking Bernanke makes money cheap as a dying gasp to protect the housing market.

I also think it's a good time to buy (not trade) stocks. We are most likely looking at a long term bull market. Europe in the shitter, China has indigestion. Oversold US equity market can be a money maker.

 

[titanium777]

Oil is high, inflation is high, population is increasing. It's supply & demand; if the public is willing to pay a price, it will be set for profit maximization.

As for Obama, it seems like he'll get reelected. Romney has way too little support in southern states.
If Romeny, in November, loses GA, LA, etc. he's in bad shape

 

[Dwight Schrute]

I think President Obama deserves a 2nd term for closing Guantanamo Bay like he said he would.