US Gas Prices, Oil Price & the Real Story Take the Drill-Baby-Drill Challenge: Can You Guess Right?

March 25, 2012. You know the story. When Obama took office:

• Gasoline cost $1.95/gallon and oil, $45

But now (3/2/12)

• Gasoline costs $3.72/gallon and oil, $125

Incredible. And we understand - because our politicians explained it to us, like so ...

1. We should've drilled.
2. But Obama and his EPA stopped us.
3. So the supply of oil went down.

And, that pushes the price up, and high oil prices cause high gas prices. If we had drilled, supply would be up and the price would be down. Maybe down to $1.00/gal like under Clinton (March 1999).

Free. Many Varieties 

So I dare you to guess which Obama scenario on the graph above is correct. Don't cheat. Guess before you click to see the answer. Don't believe it?  See for yourself where the data comes from.

Shocking but true:

1. We did "drill baby drill" - like never before.
2. Obama didn't stop us.
   • Just ask the upset Sierra Club.
3. The US supply of oil went up the most since 1970.

Under Obama, drilling has skyrocketed as never before, and the price of gas went from $1.95 to $3.95 (April 1, 2012).  There's a reason.

Your president did!  

Can you imagine the howls if Bush were President?

Delays on the Keystone would be some kind of plot to keep supplies lower and prices up. THe donations from BP would be exposed as evidence of his being a tool for the oil companies and Dick Cheney. The increased drilling would be the nail in the coffin - Bush would be allowing these evil oil companies to evil profits by holding up the price of oil at record levels.

US Gas Prices, Oil Price & the Real Story Take the Drill-Baby-Drill Challenge: Can You Guess Right?

March 25, 2012. You know the story. When Obama took office:

• Gasoline cost $1.95/gallon and oil, $45

But now (3/2/12)

• Gasoline costs $3.72/gallon and oil, $125

Incredible. And we understand - because our politicians explained it to us, like so ...

1. We should've drilled.
2. But Obama and his EPA stopped us.
3. So the supply of oil went down.

And, that pushes the price up, and high oil prices cause high gas prices. If we had drilled, supply would be up and the price would be down. Maybe down to $1.00/gal like under Clinton (March 1999).

Free. Many Varieties 

So I dare you to guess which Obama scenario on the graph above is correct. Don't cheat. Guess before you click to see the answer. Don't believe it?  See for yourself where the data comes from.

Shocking but true:

1. We did "drill baby drill" - like never before.
2. Obama didn't stop us.
   • Just ask the upset Sierra Club.
3. The US supply of oil went up the most since 1970.

Under Obama, drilling has skyrocketed as never before, and the price of gas went from $1.95 to $3.95 (April 1, 2012).  There's a reason.

In response to skeeter20's comment:

In response to airborne-rgr's comment:

US Gas Prices, Oil Price & the Real Story Take the Drill-Baby-Drill Challenge: Can You Guess Right?

March 25, 2012. You know the story. When Obama took office:

• Gasoline cost $1.95/gallon and oil, $45

But now (3/2/12)

• Gasoline costs $3.72/gallon and oil, $125

Incredible. And we understand - because our politicians explained it to us, like so ...

1. We should've drilled.
2. But Obama and his EPA stopped us.
3. So the supply of oil went down.

And, that pushes the price up, and high oil prices cause high gas prices. If we had drilled, supply would be up and the price would be down. Maybe down to $1.00/gal like under Clinton (March 1999).

Free. Many Varieties 

So I dare you to guess which Obama scenario on the graph above is correct. Don't cheat. Guess before you click to see the answer. Don't believe it?  See for yourself where the data comes from.

Shocking but true:

1. We did "drill baby drill" - like never before.
2. Obama didn't stop us.
   • Just ask the upset Sierra Club.
3. The US supply of oil went up the most since 1970.

Under Obama, drilling has skyrocketed as never before, and the price of gas went from $1.95 to $3.95 (April 1, 2012).  There's a reason.

Umm...those are the drillings that Obama couldn't control.

Where Obama has control, i.e. Federal Land, no such spike.

What the heck are you babbling about.

First of all, EVERY WELL in the country, whether it be on public land or private land, is licensed and permitted by the gov't.

Second of all, just making shiite up makes you look even more ridiculous.

In Jan 2009, there were 346 rotary rigs operational in the US.

As of Feb 2013, there are 1337 rotary rigs in operation.

That's a 400% increase in active drilling.

http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm?showpage=na

At the end of 2008, Total Number of Producible and Service Holes on Federal Lands in the US was 86,642

At the end of 2012, there were 92,583 of those same producing wells.

That's an increase of 6,000 producing wells on Federal Lands.

www.blm.gov/pgdata/etc/medialib/blm/wo/MINERALS__REALTY__AND_RESOURCE_PROTECTION_/energy/oil___gas_statistics/data_sets.Par.66994.File.dat/table01.xlsx

So..let me get this straight. Capitalism is good except when someone is paying too much at the pump?  Last time I checked..the oil industry is a private industry run by private companies. Prices go up and down depending on supply and demand ( and the occasional..albeit 'convenient' refinery shutdowns). Most interventions that the government makes into this industry are designed to keep prices down for consumers. Is Skeeter advocating for more government subsidies to an industry that already rakes in record profits? Don't like the price of gas? Don't buy a gas guzzling vehicle for recreational use...and buy less gas.

Remove all "subsidies" to everyone, gas companies, solar companies, and poor people.  We don't have money for any of it.

In response to miscricket's comment:

So..let me get this straight. Capitalism is good except when someone is paying too much at the pump?  Last time I checked..the oil industry is a private industry run by private companies. Prices go up and down depending on supply and demand ( and the occasional..albeit 'convenient' 

Funny but I said the same thing to libs when many of them were complaining about profits oil companies make. I said the same thing when many libs complained about profits health insurers make. 

It has been a long time since the oil just appeared on the ground's surface.  More drilling is needed all the time.  The success of each drilled well is lower then most think. The government can be blamed when it puts up road blocks and protects too much land.

We can walk as one has suggested, but higher gas prices affect everything.  Milk and bread cannot be walked to the supermarkets.

In response to jackbu's comment:

It has been a long time since the oil just appeared on the ground's surface.  More drilling is needed all the time.  The success of each drilled well is lower then most think. The government can be blamed when it puts up road blocks and protects too much land.

We can walk as one has suggested, but higher gas prices affect everything.  Milk and bread cannot be walked to the supermarkets.

The oil coming from the sands of Alberta literally is the ground surface.  They mine for oil in Ft. McMurray, they don't drill for it.

In response to miscricket's comment:

I think health insurance should be run as a non-profit model.

Many are....and many on the Left still b!tch about them. For example, BCBS of MA, TAHP and HPHC are all non-profit companies.

But why is it ok for oil companies to make profits but not health insurers. If you base it on needs well, we NEED oil. We need it for pretty much every product you have. Plus without oil everything would come to a screeching halt. How will products get shipped? How will people get to work? Etc.

In response to doozy-day's comment:

I think the point of this thread should be basic, without all of you economic experts ringing your own bells.......

The price of gas is up, way up, the economy isn't improving, we are all being squeezed more than ever on everything from taxes, to groceries, to gas, to health insurance, with little or no end in sight.

All Obama wants to do is campaign for a living, pick and choose the battles he knows he can win, and then go on vacation.

Congress on the other hand, is forever in campaign mode because they don't know how to do anything else, it is all about the next election, and who wins.

We are running out of money to cover all of these increases, and the governement won't stop spending.

We have a spending problem, not a revenue problem.

So if you get a paycut at work, does that mean you now suddenly have a spending problem?