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05-04-2011, 03:38 PM #1Newbie
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What can Obama do to bring down gas prices?
President barack obama is under increasing pressure to accomplish something-anything-about gas prices, which now have surged to a average of $3.86 per gallon, due to ongoing turmoil in the mid East and rising demand around the world. In a few states, they're a lot more than $4 a gallon.
Obama, who faces re-election next year, is going of his approach to show that he feels Americans' pain at the pump. "This is usually something that is affecting everybody," he was quoted saying in a recent interview. "And we're looking at every option out there in terms of coping with it."
Economists fear the high prices are placing damper on the recovery, by looking into making Americans unwilling to spend cash.
But what, if anything, can he actually do to correct the issue? Obama has acknowledged there is no "silver bullet" that can decrease the expense of gas. But he has recently detailed several potential moves that could come with an impact-even though not one of them is likely to produce results as quickly as many Americans would really like
Here's a rundown of what Obama might do today to start bringing gas prices returning to earth:
• Invest more in alternative energy. Inside a radio address Saturday, Obama called this effort "the step to helping families at the pump and reducing our reliance upon foreign oil."
• End the $4 billion in subsidies for oil companies. "Instead of subsidizing yesterday's energy sources, we need to purchase tomorrow's,"Obama has stated.
• Root out fraud and manipulation in the oil markets. Obama has said he'll possess a Justice Department task force probe whether oil market traders and speculators are "taking good thing about the United states citizens for own short-term gain."
.Boost domestic oil production. "We do not want a repeat from the oil spill that people been on the Gulf a year ago," Obama said within an interview Tuesday. "But we've got to carry on to make sure that U.S. production is strong." Which may mean expanding drilling off the coast of Florida, or perhaps in Alaska.
• Press oil-producing allies like Saudi Arabia to do operator. We need to "let them know," Obama said, "that it's not going to be good for them if our economy is hobbled because of high oil prices."
• Assist automakers to increase fuel economy standards for vehicles.
Still, none of these approaches looks prone to have an immediate impact when Americans fill up their tanks. Ending oil subsidies and instead boosting investments in renewables could be good long-term policy, however it would take years for consumers to begin feeling some great benefits of such shifts in the pump.
Likewise, increasing domestic production wouldn't bring prices down in the near future, while raising gas mileage standards can be a long-term project requiring a critical buy-in from Congress. And most experts think manipulation from the oil markets account for only a really small part of the recent price spikes, therefore it is unlikely that cracking down on such practices could have an important impact. As for leaning on Saudi Arabia, the Saudis make money from high prices, so it's definately not clear what leverage america might have to counter the Saudis' push for market dominance.
The upshot, then, may be that, barring a change in the underlying dynamics from the oil markets, Americans are stuck with high costs, a minimum of for the following few months even though the summer driving season lasts. Also, since most people have no choice but to operate a vehicle, there's little they or perhaps the occupant from the Oval Office can do about this.
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05-04-2011, 03:57 PM #2Web Hosting Master
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All I can say is "you poor thing", in the UK one US Gallon is around $8.48, be happy with your cheap fuel & stop griping
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05-04-2011, 04:01 PM #3Temporarily Suspended
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$4 per gallon, damn thats cheap compared to here .
Like the above, here in the UK it's over double what you guys pay per gallon.
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05-04-2011, 04:15 PM #4Web Hosting Master
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Average UK commute: 8.5mi (according to the BBC) - guessing that's one-way, so make it 17mi round-trip.
Average US commute: 29mi (apparently round trip, according to DoT).
You're also in a country that has the potential to have vastly superior public transport options to the USA (where public transport outside of major metro areas will likely never have the population density to support building out a system).
... and yes, probably the idiotic barges of cars we like to drive around over here probably doesn't help the cost that the market would bear for gas.
The real issue though isn't what can be done to bring gas/oil prices down - it's what can be done to reduce the amount used. I think a great start would be encouraging telecommuting, or a four-day work week for occupations where it's appropriate.
Furthermore, we should literally pull the rug out from under unsustainable industries in the form of subsidies that do absolutely no good. Ethanol? Survive on your own or GTFO. Gasoline subsidies? They work out to about 6c/gal off the true cost of it, at hideous expense to the taxpayer - begone!.
Yank all those subsidies and then lower taxes across the board an equal amount - more money in the pockets of people who are smarter on gas.
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05-04-2011, 04:21 PM #5Web Hosting Master
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05-04-2011, 04:23 PM #6Web Hosting Master
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05-04-2011, 04:29 PM #7
Nothing
OBAMA isn't in charge of gas prices, as evidenced by the fact that prices are high ALL AROUND THE WORLD!Tom Whiting, WHMCS Guru extraordinaire
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05-04-2011, 04:58 PM #8Hosting Billing Master
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The only thing the gov't can and should do is allow more domestic drilling and cut back on silly regulations that prohibit this.
Many politicians actually prefer higher gas prices because it nudges people into buying more fuel efficient cars that they would not otherwise buy.
It ultimately hurts everyone, especially the poor who cannot afford a snazzy new hybrid car.
One thing the gov't should *not* do is fix prices, or demonize companies making only a few cents profit per gallon when they make more than 60 cents a gallon for doing nothing. Maybe that's another thing they can do, cut back their gas taxes.
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05-04-2011, 05:19 PM #9Web Hosting Master
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You don't need a 'a snazzy new hybrid car' to get better fuel economy, just stop making these big V8's that you Americans love, Europe & Asia have been doing this for years.
If you, as an American, like driving round in these huge gas guzzlers, then you should expect to pay the price
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05-04-2011, 05:33 PM #10Hosting Billing Master
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Cheap used cars are not nearly as fuel efficient as newer ones. A family that can only afford a $2k used car will NOT get good fuel economy. Period. They are stuck paying high prices.
My point is that the poor have very few options, and are hardest hit when gas prices rise. That's a fact.
It would be nice if older used cars got better mileage, but that's not reality.
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05-04-2011, 05:36 PM #11Web Hosting Master
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Well I can only reiterate post #2, the USA already gets cheap fuel, so I don't understand what the argument is about
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05-04-2011, 05:51 PM #12Newbie
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05-04-2011, 06:14 PM #13Web Hosting Master
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05-04-2011, 06:39 PM #14Newbie
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Honestly, I feel like OPEC has a new song:
http://www.youtube.com/watch?v=GEIxTGtFdmQ
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05-04-2011, 06:44 PM #15Web Hosting Master
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Serious answer...stop invading countries?
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05-04-2011, 06:52 PM #16Web Hosting Evangelist
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I made a post about this in a similar thread and the best part about the turmoil in the middle east for oil shouldn't really be a factor.
I visited the Department of Energy's website. I took a look at what they have to say about the matter and it turns out that they have some great information posted publicly on their website. Below is a list of the "Crude Oil and Total Petroleum Imports Top 15 Countries"
http://tonto.eia.doe.gov/pub/oil_gas...nt/import.html
It looks like there are only 3 middle eastern countries on the top 15 list and Canada is number One (1) and Saudi Arabic is number Three (3). With that said, I can't see how the war on Iraq can cause gas prices to sore so dramatically.
Either way, it's beyond our control and plans are already in motion. There's no turning back now .
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05-04-2011, 07:14 PM #17Web Hosting Master
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My 8 cyls will get me 300,000 miles, Find me a 4 cyl that can haul a ton and last 300k and I will be all over it.
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05-04-2011, 09:02 PM #18Web Hosting Master
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Why is high oil prices correlated to negative president's approval ratings.
First, it is not highest compared to rest of the world.
Second, perhaps with sustained increased prices, people will think twice about commuting and going on road-trips. Per capita consumption on oil need to decrease. Soon oil reserves will run out and the time is now to cut down.
Third, with increased oil prices, it provides alternative energy a commercial chance.
Because of this vicious cycle of demanding cheap fuel, US foreign policy in middle-east has been framed as of national security concern.
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05-04-2011, 10:30 PM #19Junior Guru Wannabe
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4 biggest factors for high oil prices are weak dollar, speculation, turmoil in middle east and false scarcity. The last 2 go along with speculation.
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05-05-2011, 04:05 AM #20Junior Guru Wannabe
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Some countries, like Turkmenistan, where there are a lot of gas, even have it free or almost free for the people. Maybe getting more from the depths at ownership can bring it down.
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05-05-2011, 05:21 AM #21Aspiring Evangelist
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05-07-2011, 09:32 AM #22Junior Guru Wannabe
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05-07-2011, 10:26 AM #23Web Hosting Master
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Yeah exactly These americans are so naive. Case in point:
Dear LevelHosting.
The oil markets react if the King of Saudi Arabia farts too loudly. Its all too do with the lovely capitalist free market system that has put too much money in too few hands leaving them free to speculate over every little thing.
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05-07-2011, 12:30 PM #24Web Hosting Master
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05-07-2011, 12:34 PM #25Web Hosting Master
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Here is a thought. Kick all the bums out of office - both parties. Maybe they will learn to work together to get something done (except micromanage our lives). Heck, inner beltway experience only serves to breed corruption, anyway.
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