US Gas Prices, Oil Price & the Real Story

[SmileyRose]

This website is a fascinating read.



http://zfacts.com/p/35.html


















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 ...

We should've drilled.
But Obama and his EPA stopped us.
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:

We did "drill baby drill" — like never before.
Obama didn't stop us.
Just ask the upset Sierra Club.
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.

[Sherman A1]

1. Thanks for Posting

[SmileyRose]

2. shameless self kick for the evening crowd - really good info at the link in the OP

[Spider Jerusalem]

3. Sorry, but no

this is completely erroneous; the US isn't exporting gasoline refined from domestically produced oil. A little inconvenient fact: the US is a net oil importer. Over half of the crude oil consumed in the US is imported; exported refined fuels are more likely to be refined from that imported oil which is then re-exported. The price of oil is set on world markets and not determined by local demand; why should the US get cheaper oil when global demand remains fairly steady and the US is competing with other oil importing countries for oil on world markets?