quote: The economy is arguably worse now than it was in 2009 by most measures and yet the price of oil has more than doubled. Why do you think that is? The reason is not only due to a lack of sufficient domestic production, but also due to the weakened buying power of the US dollar.
quote: Wrong again. Electricity prices were lower and consistent under Bush's 2 terms than they have been under Obama
quote: You and most Republicans are so freakin clueless about the oil market.
quote: If it was the US dollar's fault (which, BTW, is the same ~0.77 Euros it was when Obama took office), you would be able to name currencies where the price of oil went down instead. Everyone is paying more for oil than in early 2009.
quote: This is a global commodity so looking at the US is pointless, and most importantly production is not done in a competitive market since half of it is controlled by a cartel.
quote: Because oil demand has such low price elasticity, OPEC can set prices to whatever they want by adjusting their output.
quote: That's what happened in 2009. The recession started, demand went down, so price dropped like a rock (due to the inelasticity). You're curious why prices rose again so quickly without a recovery? It's because OPEC cut their output.
quote: The only way to reduce gas prices in the US is to nationalize the oil companies and make them sell oil at break even prices. Otherwise, they will always sell oil at the global market price that OPEC has chosen.
quote: Look at facts instead of making up statements. It's not that hard to google. Prices went up in the 2000's, then flattened out since 2008.
quote: A bad energy policy would have continued the upward trend, not bending it flat and pointing it down in 2012.
quote: but it is worth noting that GLOBAL demand for oil was just as consistent during that time frame so whether we look at US or Global consumption the facts remain unchanged.
quote: Brilliant point...except that OPEC's production has about 35 million barrels/day since 2005 up to now - in other words, you're wrong.
quote: Don't talk about facts, bro. You wouldn't know what a fact is if it smacked you in the face.http://www.eia.gov/electricity/annual/html/table7....
quote: Dead wrong:Dead wrong again:
quote: OPEC could raise the price even higher, but they want to keep it right at the point where the world gets off it at a snails pace.
quote: Your own link disproves your theory about Obama, because it's the same source data my link was from. Prices have dropped slightly since Bush's last year, which is actually a drop when inflation is taken into account.
quote: FWIW, I am anti-wind and anti-solar (at least beyond minimal construction to explore cost reductions in manufacturing). However, natural gas prices dropped with improvements in fracking, and much to the dismay of environmentalists Obama did nothing to stop its use. Natural gas moguls are the driving force behind wind adoption and coal regulations (which I support, but not for AGW reasons) because wind cannot grow without gas growth to fill in the gaps. It's too costly/damaging to ramp coal that fast, and nuclear is baseload only.