chuckmo48 wrote:
Lyingaboutnotlivinginlakecounty wrote:
As experts in history and public policy, maybe you and Sparks Hein can explain why oil price hikes under the Bush administration were clandestine efforts to enrich a bunch of insiders but now they are the result of simple supply and demand.
A little history lesson (and some Econ 101 principles)Gas price under bush went to $4.21 a gallon and was over $3.00 a gallon most of his last term in officeThe only reason gas was at $1.85 when President Obama took office is because of the economic crash which greatly reduced demand and the crash effected all countries not just the US.Gas prices rise with demand and as the economy has improved it is completely normal for gas prices to increase as more businesses use more fuel.We do not have a shortage and oil drilling has quadrupled in the last 4 years and the US is now a net exporter of oil.So our rising gas price is actually an indicator that the economy is recovering.Wow ...you are as delusional on the left as the people on the right ..... So 0% GDP growth in the 4th quarter and 7.7% employment is an improving economy?
There are many reasons for near gas and oil being near $100, and demand is probably the least of them.
Seeing that US miles driven has hit a low since the financial crisis last month, it sure as hell isn't demand ...
http://seekingalpha.com/article/1297891 ... oogle_newsLets see ....we still have geopolitical risk ..... we have refinery constraints ..... we have cutbacks ... .and we have the all popular $85 Billion a month from the Fed entering the markets trying to pump up asset prices.
Your propaganda is ridiculous only in the fact that you truly believe it.
So by your terms, the economy was GREAT in June, 2007 because gas prices were sky high? Was the economy great because stock prices were at all time highs in October 2007? No ...we were already in recession .....