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Now that gas prices are higher than they were during the Bush administration and threatening to go to $5/gallon, where are all the cries for investigations???

Conservative in California 2010/12/30 16:07:31
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Larry Elder


$5 Gas Predicted Under Obama -- What, No Pitchforks?

http://townhall.com/columnists/LarryElder/2010/12/30/$5_gas_p...




Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely. The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. In one month, the price rose 13 cents, up 35 cents year to year.


Where are the calls to sic Obama's Justice Department on Big Oil to hold the oil companies accountable for "market manipulation"? Why aren't we hunting down the amoral "oil speculators" responsible for repealing the law of supply-and-demand in order to line their pockets?


During President George W. Bush's administration, we constantly heard demands to hold the President accountable for "Big Oil's price gouging." House Speaker Nancy Pelosi, D-Calif., just two years ago, knew exactly whom to blame for "skyrocketing" oil prices: "The price of oil is at the doorstep; $4-plus per gallon for oil is attributed to two oilmen in the White House and their protectors in the United States Senate."


In 2007, when the average national price ranged from $2.17 to $3.22, then-Sen. Barack Obama demanded that the Federal Trade Commission investigate Big Oil for "price manipulation." In 2008, presidential candidate Obama urged the Justice Department "to open an investigation into whether energy traders have been engaged in illegal activities that have helped drive up the price of oil and food."


Obama also called for "a windfall profits penalty on oil selling at or over $80 per barrel." As of Christmas 2010, a barrel of oil sold at slightly above $90. What happened to the windfall profits tax?


Yes, back then the average price per gallon was four bucks. But blaming "oilman" Bush for high prices began when the average price was well below today's $3.05 national average.


The average price was $1.72 on March 5, 2003, when CBS News posted a story online with this headline: "Dems Blame Bush For High Oil Prices." It referred to an investigative report by Sen. Carl Levin, D-Mich. Levin blamed Bush's post-9/11 decision to increase the amount of oil in the Strategic Petroleum Reserve by 40 million barrels in 2002 -- bringing the total to 600 million. Levin said, "We're confident this had a significant impact on the price of oil in 2002." Never mind that the Bush administration called the amount of oil diverted too small to matter.


The average price was $2.80 on April 22, 2006, when USAToday.com posted an article with the headline "Democrats blame Bush for high gas prices": "Consumer gasoline prices continue to soar as the Bush administration places too much emphasis on drilling reserves and not enough on alternative fuels, Democrats said." The article quoted Sen. Bill Nelson, D-Fla., who praised Brazil's "energy independence." "In Brazil," Nelson said, "drivers are filling up their cars with ethanol instead of gasoline."


Not exactly, Sen. Nelson.


Brazil may be "energy independent" in that it imports only a small percentage -- 649,000 barrels per day in 2009 -- of the oil it consumes. But that makes Brazil the 19th-highest oil-importing country in the world. Its economy relies heavily on oil that is domestically produced and consumed. Brazil is the seventh-largest consumer of oil in the world and the ninth-largest producer. Its famous -- and heavily government-subsidized -- sugar cane-based ethanol fuel is actually a blend that uses approximately 75 percent gasoline.


As for U.S. ethanol, which is made from corn, Nobel laureate environmentalist Al Gore recently called it a bad deal: "It is not a good policy to have these massive subsidies for first-generation ethanol. First-generation ethanol, I think, was a mistake. The energy conversion ratios are at best very small. ... The size, the percentage of corn particularly, which is now being (used for) first-generation ethanol definitely has an impact on food prices. The competition with food prices is real." Why did he once support ethanol? He admitted that he'd wanted to help farmers in Iowa, site of the nation's first caucus, since he "was about to run for president."


The silence over the recent price run-up is yet the latest example of left-wing hypocrisy. It was always about bludgeoning Bush rather than a sincere conviction that Big Oil was cheating. How else to explain the absence of demands for investigations?


America could achieve "energy independence" if producers were allowed to drill in Alaska, the lower 48 and offshore, where substantial amounts of untapped oil remain off-limits. Obama, who currently squanders hundreds of billions of taxpayer dollars by "investing" in alternative energy, possesses no more control over the law of supply-and-demand than did "evil" Oilman Bush.

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  • No nonsense NanC...don't BS... 2010/12/30 18:36:06
    Other...
    No nonsense NanC...don't BS me!
    +3
    Meanwhile 0bama has curtailed any domestic production of oil by a moratorium
    on deep sea drilling while aiding other countries to do what he has banned for Americans.
    BTW, George Soros, an 0bama bigtime donor, has invested in Brazil's oil drilling wells.

    REVIEW & OUTLOOK
    AUGUST 18, 2009, 1:45 P.M. ET
    Obama Underwrites Offshore Drilling Too bad it's not in U.S. waters.

    You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

    The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

    The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for ...















    Meanwhile 0bama has curtailed any domestic production of oil by a moratorium
    on deep sea drilling while aiding other countries to do what he has banned for Americans.
    BTW, George Soros, an 0bama bigtime donor, has invested in Brazil's oil drilling wells.

    REVIEW & OUTLOOK
    AUGUST 18, 2009, 1:45 P.M. ET
    Obama Underwrites Offshore Drilling Too bad it's not in U.S. waters.

    You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

    The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

    The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.

    But look on the bright side. If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits, and last year ahead of the November elections, with gasoline at $4 a gallon, Congress let a ban on offshore drilling expire.

    The Bush Administration's five-year plan (2007-2012) to open the outer continental shelf to oil exploration included new lease sales in the Gulf of Mexico. But in 2007 environmentalists went to court to block drilling in Alaska and in April a federal court ruled in their favor. In May, Interior Secretary Ken Salazar said his department was unsure whether that ruling applied only to Alaska or all offshore drilling. So it asked an appeals court for clarification. Late last month the court said the earlier decision applied only to Alaska, opening the way for the sale of leases in the Gulf. Mr. Salazar now says the sales will go forward on August 19.

    This is progress, however slow. But it still doesn't allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.

    http://online.wsj.com/article...
    (more)
    In addition, he has:

    U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium. Another Foreign Oil Company? What About American Oil Rig Workers?
    http://romanticpoet.wordpress...

    Sounds like wealth redistribution, and of course, it protects M.E. oil producers like Saudi
    Arabia, where we spend $billions on crude oil.
    (more)

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  • Tanya 2011/05/03 21:06:12
    Other...
    Tanya
    I knew I wasn't wrong when I told a friend of mine today that the price of gas per gallon (3.99) was never this high under the Bush administration. I don't remember paying more than 3.89 per gallon when Bush was in office. I live in PA. People who voted for Obama swear to me that I am wrong. I have never paid $70.00 to fill my tank EVER!! So I guess this is still Bush's fault, at least that is the respsonse you'll get from someone who voted for Osama, I mean Obama. The democrats are losing their memory, like they always do.
  • Phillip Tanya 2012/03/14 01:10:37
    Phillip
    +1
    I dont know where you live, but here in Colorado Springs gas is at about 3.35/gallon, i remember points during the bush admin where i was paying 4.59/gallon, so yeah
  • The Wrong Guy 2011/01/01 05:28:29
    Other...
    The Wrong Guy
    Current gas prices are not as high as they were during Bush's presidency. If they reach those levels again (and it looks like they've been trying recently), I'll complain in exactly the same manner that I did when it was almost 5 dollars a gallon in 2008.
  • Don Leuty 2010/12/31 07:01:00
    Of course the far Left MSM and Congressional Democrats are screaming for inve...
    Don Leuty
    And the 110th Congress controlled by Reid and Pelosi started this snowball rolling years ago.

    The price of oil is not going up as much as the dollar is going down. Gold has crossed the $1400 mark and silver is over $30.
  • wtw 2010/12/31 06:16:22
    Of course the far Left MSM and Congressional Democrats are screaming for inve...
    wtw
    But of course!
  • NidStyles 2010/12/31 03:50:55
    Other...
    NidStyles
    +1
    Obama stated that we will see $10 a gallon while he's in office.
  • Conserv... NidStyles 2010/12/31 04:44:24
    Conservative in California
    +1
    that's his goal...
  • SickOfBigGov 2010/12/31 00:57:35
    Other...
    SickOfBigGov
    +1
    Funny, I was saying that the other day as prices around NY are rising daily and no one even peeps about it. Funny Huh? During the Bush era, it was a nightly news event.
  • claptonluvr 2010/12/31 00:33:27
    Other...
    claptonluvr
    +2
    Can you say "double standard"? obama's done more damage to this country in less than two years than GW Bush ever dreamed of, but you won't here word one from the MSM. It's disgusting.
  • Mel the Witch POTL PWCM~JLA 2010/12/31 00:07:23
    Other...
    Mel the Witch POTL PWCM~JLA
    +1
    I am Waiting, But I have a feeling that I 'll be waiting a long time. The Left turn on they're messiah
    no..... Liberal love to get Fu**ed by other liberals, most likely because Conservatives are too smart to come near a liberals
  • Lynn 2010/12/30 22:48:25
    Other...
    Lynn
    +1
    Liberals love to beat up on Republicans over far less than $3 gas prices claiming that as proof that they hate the common man and dont care how badly it hurts them just to get to work every day...

    But in reality, liberals LOVE high gas prices because its their prefered method of forcing people into ever tiny and more fuel efficient cars and making expensive alternative energy sources, that they just cream over, seem less expensive.
  • TruBluTopaz 2010/12/30 22:28:03
    Other...
    TruBluTopaz
    Governments at all levels, city, county, state and federal, made out like bandits when gas prices at the pump reached $4.00. That was the first domino to push our economy out of whack. If we allow these same entities to sit on their hands while gasoline rises to unjustified heights when compared to the current domestic and offshore stockpiles, then there should be a serious investigation as to who is trying to set the market prices so high. I'm pretty sure that Soros' owned wells off shore of Brazil will be shipping crude into American refineries by then. And I am sure he and Pickens, big supporters of Obama's ban on off shore drilling in the eastern Gulf, will benefit by shafting the American public yet again. In the end, this is just another redistribution of wealth scheme designed to siphon money from the middle class to the lower class while pitching those of us on the brink into the rolls of the needy.
  • rasputan 2010/12/30 21:32:25
    Of course the far Left MSM and Congressional Democrats are screaming for inve...
    rasputan
    +2
    Bush had the War in Iraq. Hurricane Katrina, $147.00 per Barrel oil prices.
    To blame, for the price at the pump.
    Today, We have nothing but Obama.
  • Billyk75 2010/12/30 20:04:29
    Other...
    Billyk75
    +1
    I think that the "It's all Bush's fault" excuse is a little too old.
  • No nonsense NanC...don't BS... 2010/12/30 18:36:06
    Other...
    No nonsense NanC...don't BS me!
    +3
    Meanwhile 0bama has curtailed any domestic production of oil by a moratorium
    on deep sea drilling while aiding other countries to do what he has banned for Americans.
    BTW, George Soros, an 0bama bigtime donor, has invested in Brazil's oil drilling wells.

    REVIEW & OUTLOOK
    AUGUST 18, 2009, 1:45 P.M. ET
    Obama Underwrites Offshore Drilling Too bad it's not in U.S. waters.

    You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

    The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

    The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for ...















    Meanwhile 0bama has curtailed any domestic production of oil by a moratorium
    on deep sea drilling while aiding other countries to do what he has banned for Americans.
    BTW, George Soros, an 0bama bigtime donor, has invested in Brazil's oil drilling wells.

    REVIEW & OUTLOOK
    AUGUST 18, 2009, 1:45 P.M. ET
    Obama Underwrites Offshore Drilling Too bad it's not in U.S. waters.

    You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

    The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

    The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.

    But look on the bright side. If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits, and last year ahead of the November elections, with gasoline at $4 a gallon, Congress let a ban on offshore drilling expire.

    The Bush Administration's five-year plan (2007-2012) to open the outer continental shelf to oil exploration included new lease sales in the Gulf of Mexico. But in 2007 environmentalists went to court to block drilling in Alaska and in April a federal court ruled in their favor. In May, Interior Secretary Ken Salazar said his department was unsure whether that ruling applied only to Alaska or all offshore drilling. So it asked an appeals court for clarification. Late last month the court said the earlier decision applied only to Alaska, opening the way for the sale of leases in the Gulf. Mr. Salazar now says the sales will go forward on August 19.

    This is progress, however slow. But it still doesn't allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.

    http://online.wsj.com/article...
    (more)
    In addition, he has:

    U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium. Another Foreign Oil Company? What About American Oil Rig Workers?
    http://romanticpoet.wordpress...

    Sounds like wealth redistribution, and of course, it protects M.E. oil producers like Saudi
    Arabia, where we spend $billions on crude oil.
    (more)
  • lucky 2010/12/30 17:03:56
    Other...
    lucky
    +1
    Gas prices were the highest in history in July of 2008 at an average of over 4 dollars a gallon under President Bush. So 3 bucks a gallon doesnt seem so bad.

    If and when they go over 4 bucks a gallon again i'll start complaining.
  • TruBluT... lucky 2010/12/30 22:29:08
    TruBluTopaz
    +2
    You might want to start early. The prediction is $5.00 by the end of 2011.
  • lucky TruBluT... 2010/12/31 01:21:12
    lucky
    Yep but when prices went over 4 bucks they were predicting they would not go back down below 4 and yet they did, i prefer to wait and see before i start to worry.
  • Old Salt lucky 2010/12/31 00:51:10
  • SickOfB... lucky 2010/12/31 00:58:30
    SickOfBigGov
    Soon, my dear friend, soon..
  • Bob 2010/12/30 16:52:27
    Other...
    Bob
    +3
    The only investigation which needs to be conducted is why the EPA is as powerful as they have become to stop exploration and drilling right here at home. Although Obama, bowing to Soros' minions has halted to drilling (solely to negatively effect the economy) citing the BP incident. The U.S. can bring its GDP up significantly by opening drilling WHILE still exploring alternative fuels and greener vehicles.
  • beachbum Bob 2010/12/30 17:20:39
    beachbum
    +1
    Exactly.
  • THE LEFT=DESTRUCTION 2010/12/30 16:51:22
    Other...
    THE LEFT=DESTRUCTION
    I have to say * other *.
    With typical lefty behaviour; the govt, obama media is sweeping this under the rug.
    Shhh..don't let the useful idiots know the price of gas is over 3 dollars...shhh....
    They didn't hear it on MSNBC or CNN, so it must not be true......
  • Conservative in California 2010/12/30 16:14:33
    Of course the far Left MSM and Congressional Democrats are screaming for inve...
    Conservative in California
    +3
    Bush Derangement Syndrome clouded every Statist and Marxist's judgment.

    Just like then as it is now, it's the free market that causes prices to rise and fall.

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