No Politicians do.. The Markets are setup with middlemen who trade the commodity. The only way they make money is to drive the prices in one direction or the other. Oil Companies are killing it and there is no way they are going to saturate the Market with Oil and drive prices down. They would essentially be killing the golden goose and thats not going to happen.. No amount of drilling will fix this..

It would take a while to develop existing oil reserves to keep the price of oil down, but it certainly is possible. It so happens that the U.S. now has the most known oil reserves on the planet, but with the Enviro-Nuts control over Obama, we are not and will not allow development of those resources. The Green River Formation of shale oil in parts of Colorado, Utah and Wyoming, just by itself has a conservative estimate of 3 times the recoverable amount of oil reserves as does Saudi Arabia. But most of it is under Federal land. It would be gotten out by using a new "in-situ" technique that does not involve mining or fracking - it is a process by which the rock is heated to a temperature where the oil is released. To develop that resource would outrage the Enviro-Nuts because it would kill off projects like the Chevy Volt.

Peter, we could drill 5000 new wells and produce billions of new oil but OPEC would still artificially cut supply to keep the price high. The problem with oil is that some countries rely on it to fill their coffers which means we are always going to be screwed.

Peter you argument is the problem, its this kind of thinking that keeps the real issue out of the Headlines. With the current system Oil Companies are able to keep supply tight by storing Oil until the supply balance tips enough to bring in their product and take advantage of 100 dollar prices. Developing Oil in the United States is inevitable, its just a matter of when. The problem is, No one in the business wants mass produced oil from the United States. It would bring a gluten of supply on hand and drive prices down while cost are up on increased production. If I'm a shareholder of EXXON, No way I want that.

The Markets need to be changed to a gas in, gas out policy. Trading Future contracts on something that doesn't exist does nothing but drive prices up and keep supply down. We don't reward production, our system rewards tight supply.

Its a nice political argument, but doesn't hold water. Unfortunately we now require oil for everything, and it didn't take Wall Street long to figure out how to corner this Market with a system that rewards folks for producing nothing.

It amazes me how people like Sarah Palin and Larry Kudlow can constantly scream drill, drill, drill? Like there is some magical company that will appear out of thin air and go against every Market principle...

We currently have more than enough oil and gasoline in this country, although most of the oil is imported. The problem is the U.S. and Europe's dependence on oil from the Middle East. Political turmoil in that part of the world causes instability in global oil markets. The more oil we can get from ourselves and dependable friends like Canada, the better off we would be. Saudi Arabia and others are well aware of the growth in know oil reserves around the world. They actually would prefer to be able to back off so much supply coming from their country since that would mean their reserves would last a lot longer.

We are also awash in natural gas, and it works just fine in trucks, buses and cars. The problem is our Enviro-Nuts. They will not support anything that comes from fossil fuels no matter how cheap or how plentiful.

peter

It also doesn't help that the oil company's have made oil this country's #1 export either.

I believe much of what we are exporting is gasoline and other petroleum products that are refined in U.S. refineries. We still import most of our crude oil. Part of the reason for the Keystone pipeline is to get Canadian oil to refineries on the Gulf Coast where it can be processed. Anything exported is a trade balance offset and a good thing. Just because we can get oil out of the ground in Texas, Oklahoma and North Dakota plus other close by states does not get it to refineries on either the East or West Coast. Pipelines would work, but it seems that Obama and the Enviro-Nuts have a problem with that. So tankers must bring in that crude oil.

peter

The point is, that we are exporting it instead of using it to get the prices down. It doesn't matter where it came from. Plus, we have only built one refinery in over 30+ years. If they produced more gas ( for the use here) the price would also go down.

As far as "Obama and the Enviro-Nuts" go. The Governor of Nebraska was the one who said that they could not run the pipe line through his state the way they wanted to. The governor is a repug. The company has yet provided a new route to run it. You may, but I wouldn't approve it either. Not knowing where it is going. That would be real stupid don't you think?

More than half of the oil that fuels the U.S.—51%—comes from the Western Hemisphere, and only 17% comes from the Persian Gulf—Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. Among our neighbors in the West, supplies break down as follows:

Canada (23.3%)

Venezuela (10.7%)

Saudi Arabia (10.4%)

Mexico (9.2%)

Nigeria (8.3%)

http://alwaysme3.amplify.com/2011/03/01/top-oil-imports-by-country-where-the-us-gets-its-oil/

It has little to do with actual supply and much more to do with speculation. why economies allow THE central energy source that affects every other aspect of the economy to be speculated on like any other free market commodity is beyond me.

As the General Election draws closer the price of gasoline will skyrocket in an effort to drive the economy further south, for the purpose of gaining favor for the Republican nominee -- as Big Oil wholly owns the GOP. That run up in prices -- all energy prices -- will occur notwithstanding the availability of more than ample quantities.

The promise of 50,000 new jobs and an abundance of oil is just ANOTHER BS tactic of the Petrol Institute and their minions to force the Keystone Pipeline across thousands of miles of private property, the owners of which want nothing to do with YET ANOTHER Exxon Valdez or BP Oil spill.

AND BTW, IT WASN'T BP THAT PAID FOR THE SPILL, IT WAS ALL OF US VIA THE RAPID RUN UP IN PRICE COURTESY OF AMERICAN OIL SHEIKS. ALL TRAITORS!

I paid $35.00 for a few gallons of gas last night. I had mistakenly thought when prices went down for a short time I might get a little ahead. I was hoping I could actually turn on some heat in my house, a few lights, or perhaps buy a little extra food. I am tired of my child freezing, and me not being able to turn on the heat when needed. I dread this summer when we have our 110 degree days again. My job keeps cutting back wages and hours. Plus our commander and chief keeps saying there are jobs out there. I have looked and I haven't found one. Perhaps I could find an oil company that may be hiring. Oh well I guess I need to add a few more bulky sweaters and buy bus passes again.

Peter,

Please explain to me why the oil price goes up at the exchange, not one drop delivered, but the gasoline in the tank at my local station is suddenly 10% more expensive? Please then explain the inverse, when the undelivered oil at the bourse drops 10% that the gasoline in the tank never does? You seem to have a grip on every aspect of this, with some really palatable prose to explain it all. One last thing, if it's Obama in control of all of this what was the reason again that gas went through $4.00 a gallon under Bush?

Think gas is expensive now, wait till everybody in India and China has a car too.

@flnobody

It also doesn't help that the oil company's have made oil this country's #1 export either.

You are so correct. With fuel oil being our biggest export it keeps gas prices artificially high. The GOP/tp tries so hard to blame President Obama but it's their precious oil companies causing the problems with high gas prices not the President.

They need to seriously refocus their anger and point it towards the real culprits, their precious big oil.

well Letusreason the obama Administration tried to end tax subsidies to oil, gas and fossil fuel producers. but the GOP did their thing, helping those who will benefit them.

also we dont really do anything with crude oil but export them, then import refine oil such as gas. kerosene, heating and jet fuel, also export more oil then we import. my question is why dont we just make it here?

also we get more oil from Canada then anywhere else, and Alberta in Canada has the one of the largest oil reserve in the world

wont let me post other articles ~,~

uought to go back to bootlegging ur booze u dont know @!$%# from shinola

One last thing, if it's Obama in control of all of this what was the reason again that gas went through $4.00 a gallon under Bush?

A large part of it was hurricanes in the Gulf of Mexico interrupting refineries and oil tanker shipments along the Gulf Coast. Classic supply and demand. Gas peaked to $4.05/gallon in September 2008. By that November, it plummeted back to $1.50. Speculators didn't do that.

but the GOP did their thing, helping those who will benefit them.

OH yeah, like the DEMOCRATS don't do that exact same thing. {eye roll}

I read a while back that we wouldn't have this oil problem, except for LBJ and Nixon making a big deal with Saudi Arabia to make the "Dollar" the official world money, go away from gold, pay for the "Great Society" programs - Medicare, etc, so that we can print money and now we are broke. We have all the natural gas and oil we need, but if we did that the dollar would be worthless, and the economies of the world would default. We're there already. Only reason we can print money and get buy with it, until China and Russia say enough and then we're screwed. It's both sides of Congress fault, no matter what they say

Yes, they do!

but with the Enviro-Nuts control over Obama,

And exactly who was it that were holding Bush back during his 8 year regime rule?

It's both sides of Congress fault, no matter what they say

That I can agree with.

Funny. I live in Coeur d'Alene,ID, in the Panhandle. Gas prices dropped to $2.99 on Christmas day. Guess what? They haven't moved at all. $2.99 today.

And exactly what message does the oil speculators have to give?

Well then, shut up about paying more for the most energy dense resource on earth and ride a bike. You have plenty of stored petroleum (as fat) under your skin to power a bicycle for thousands of miles.

Those are the enemies of the world economies and those are the ones that both parties should be making laws to eradicate and put in prison when they break the new laws.

Thank God that oil companies, subsidized by American Middle Class taxpayers, are making the greatest quarterly profits in the history of the Universe...literally.

By the way, why are embedded links no longer allowed?

I was trying to link that Exxon Mobile had the greatest quarterly profits in the history of the world.

Never, never stop to realize that Exxon is one of the largest companies in the world.Check their profit MARGIN, which is around ten percent. That is the important part.

ExxonMobil announced today that it earned a total profit of $41 billion in 2011. The 2011 profit equals $112 million per day or $78,000 per minute of 2011. This huge profit is similar to its earnings of $41 billion to $46 billion from 2005 to 2008 (in 2011 dollars). ExxonMobil made the four “largest annual profits” of all time during these four years, according to USA Today.

2011 Was Very Good to ExxonMobil

Highest Annual Oil Price Since 1864 Kept It in the Darkest Black

http://www.americanprogress.org/issues/2012/01/exxonmobil_profits.html

January 31, 2012 article

How's that?

Not to worry fellow sheep, They will fall again in November.

to the first post

People speculate for the price to go down too.

Called going short

You have calls and puts might read up before posting nonsense.

I guess when oil went from $147 to $35 a bbl those bad people gave you 1.25 a gallon gas what would you say to that???

I don't see too much talk about what inflation has done to the dollar, which is causing it to buy less gas.

Stop the printing presses, and this would help stabilize gas prices.

It's not about supply, when do people learn that there are plenty of supply? Most of US oil are not from Middle East.

It's all about speculation and profit, even if US drill everywhere and have more oil, the oil company will export it and continue to raise the gas price. That's how Global Capitalist at work, why sell here when they can get more profit here and everywhere else at the same time?

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that their are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

Peter STFU! you are clueless you never drilled a well in your life. I can say I have drilled over 1000 wells in my 30 + years of being on drilling rigs and the enviros never stop me. We drill in the pines we drill in the deserts and right next to some of the rivers and lakes I go fishing on da. Ride a bike drive a small truck or car to save gas and get a real job boy.

ankCountry/RegionOil - consumption
(bbl/day)Date of
information
- World85,980,0002008 est.
1 United States of America18,690,0002009 est.
- European Union13,680,0002007 est.
2 China9,690,0002011 est.
3 Japan4,363,0002009 est.
4 India2,980,0002009 est.
5 Russia2,740,0002009 est.
6 Brazil2,460,0002009 est.
7 Germany2,437,0002009 est.
8 Saudi Arabia2,430,0002009 est.
9 Korea, South2,185,0002009 est.
10 Canada2,151,0002009 est.

I wish that someone would put the money and energy into clean renewable fuels and, no, Keystone won't make it any cheaper and it's just temporary jobs. The potential of environmental damage is too great and---to hell with the oil companies. I have no interest in their marketing by gouging on prices.

We're have some nasty habits here in the US. We drive, even when it's a short distance.
The right has no interest in mass transit.
We don't understand that fossil fuel is not limitless.
We're leaving the planet far more polluted than we found it.

Time for Mr. Obama to release another 30,000,000 barrels of oil from our Strategic oil reserves to cut the cost of gasoline since the first release went so well:

• Release: http://thehill.com/blogs/e2-wire/e2-wire/168049-obama-to-release-oil-from-strategic-reserve-
• FAILURE: http://www.humanevents.com/article.php?id=44678

Randy -

They would never lower the price of gas like that. They'd use the lower crude prices as an opportunity for higher profit margins.

sandtrich

I bet you believe in perpetual motion machines as well? Renewable energy is a myth for vehicle propulsion....batteries need to be produced by guess what? That is right fossil fuel driven manufacturing....plastics, petrochemicals, they are all part of the process. How about the mining of essential minerals...oops more fossil fuels. Guess what is necessary to produce photo electric cells...oops petrochemicals and plastics. How about the sandwich you perserved in ....oops plastics. I bet you could not go a day without having to use plastics made of petrochemicals including your debit and credit card.

Letusreason,if the republican controlled H.O.R. would hold the speculators and the OIL C.E.O.'s accountable,maybe the prices would come down.If you remember in 2008 the house Democrats held hearings into the rising cost of oil,and the prices started to fall. The republican bag boys would rather take the campaign donations and watch the American consumer pay higher fuel and grocery prices.here no evil see no evil,besides just blame it on the President and the Democrat long enough and the election will will be in the BAG. VOTE OBAMA/BIDEN 2012

Stupid argument. It takes ridiculously less petroleum to manufacture a car battery than it does to run a car's combustible engine over its entire lifespan.

It was called The Bush Presidency not the bush regime.Freakin people in this country have got to start getting thier sht together and work as one.

Speculators doing what they do. Driving up the price of oil so a few can profit at the expense of almost everyone on the planet.

The Obama Administration has no interest in this.

Are you kidding us??? The Obama administration promised in front of Congress and the American public to remove energy subsidies. What he didn't tell the American public is that it is these subsidies that keep gasoline in America from costing more than $5.00 a gallon!

Know what else Obama and his administation want to do? They want to add carbon taxes to utilities and businesses and also have tasked part of his administration to do a feasibility study for taxing Americans for every mile that they drive!

Has no interest... Riiiiiiiight... You just keep drinking up that Kool Aid. :)

JARHEAD-921304

As the General Election draws closer the price of gasoline will skyrocket in an effort to drive the economy further south, for the purpose of gaining favor for the Republican nominee -- as Big Oil wholly owns the GOP. That run up in prices -- all energy prices -- will occur notwithstanding the availability of more than ample quantities.

Obama was top recipient of BP-related dollars in 2008

http://articles.cnn.com/2010-05-05/politics/bp.lobbying_1_bp-center-for-responsive-politics-house-energy?_s=PM:POLITICS

Keep voting for Obama.......if you can afford it!

According to the Lundberg survey, this latest escalation of fuel prices is due to increased demand in Europe and Asia, not anything going on in the U.S. Our demand has been down for some time thanks to the combination of more efficient vehicles and a weak economy.

The bottom line is there could be a train heading straight for the Obama reelection campaign and our economic recovery, and that train is fueled by $4 + a gallon gas. Gas has hit a sustained $4 a gallon twice (other than for a few days after Hurricane Katrina), and both times the economy has swooned, although the 2011 down turn was thankfully short (probably due to the fact that the amount of time gas was $4 a gallon was thankfully short. If gas hits $4 a gallon again and the economy takes a dump (again), all bets are off on the President's chances at reelection.

With Cheney,Bush and the Koch brothers holding the silver dollar, gasoline will be used as a voting tool. Cheney once had tried to work out a deal with the Taliban to put in a pipeline that would eventually help bail out Enron. That was part of his secret energy deal that went to the courts. Don't think for one minute that he won't get revenge on the Democrats.

Randy -

They would never lower the price of gas like that. They'd use the lower crude prices as an opportunity for higher profit margins

So I guess oil never hit $147 on July 11th 2008 or pulled back to a low of $30 in December of 2008 , 6 months later???

You don't understand how the markets work please educate yourselves before spewing BS.

Your blind hatred of people making money and class envy blinds you to the facts and how things work.

I believe that the time has come where Gasoline is no longer a luxury and should rather be treated as a utility. Just like Electricity and Natural Gas and Water are all regulated utilities, so should gasoline be. It is a commodity, there is little difference between the brands quality wise. I don't know anyone who prefers one brand over another for any reason other than price or proximity. The government can set monthly prices based on supply and demand. They can address imports and exports to favor low prices for US consumers. They can fix this.

The government does not own the electric companies, but most states regulate the price to keep it affordable and allow the companies to earn reasonable profit. If left to their own, why wouldn't electric bills double and triple as the market would bear? Is it wrong for the government to protect it's citizens this way?

Natural gas, Electricity, Heating oil....all fossil fuels with prices that are regulated by the government, why is Gasoline exempt from this? Even Taxicabs have their fares regulated by the PUC.

Democrats talk a big game against BIG OIL and make it out to be Republican's being bought by the industry. I call BS on that. Neither Party has any interest in fixing the Oil/Gasoline Problem. They both have their talking points and their pretend outrage... but no one wants to give up the money.

Refiners are switching over to the more costly "Summer Blends" which must be delivered before May 1st. Gas prices are continuing to rise, even before that.

"CHICAGO-- If you're wondering how much to budget for gas this year, experts are saying you may need to allow for more than you think

According to a GasBuddy.com projection of 2012 prices, gasoline is expected to rise above the $4 mark possibly as soon as April. That trend increases throughout the summer months and then tapers off closer to the end of the year."

http://www.centralillinoisnewscenter.com/news/local/2012-Gasoline-Outlook-137213108.html

Add to that the peak summer driving season. Add to that any more turmoil in the Middle East, Iran, etc. Add to that any hurricane activity in the Gulf in the Fall 2012.......Looking like around $5.00/gal for gas by Election Day. Add to that the cost of food and everything else delivered by truck going up in price.....And the probable layoffs due to increasing costs for employers....YIKES !!...Higher gas prices and unemployment ticking up the 3 months before the Election ?!?!?

Killing bin Laden isn't enough to win re-election...folks vote with their wallets.

The little silver lining for those on Social Security is that the COLA is taken from prices in July, August and September....and should translate into a pretty good Cost Of Living Adjustment in 2013.

Hey FedupwithFed

Dear Republicans who like to point to Solyndra/ Obama, here is some mud for your eyes,

In his book, Worse Than Watergate: The Secret Presidency of George W. Bush, John W. Deanexplains that his family name and his father's prominence were significant factors in George W. Bush's business "success", or, were significant factors in repeated saves from serious business and financial failures. Both Arbusto/Bush Exploration and Spectrum 7 failed with Bush as chairman and CEO. At Harken, Mr. Bush was relieved of day-to-day management responsibilities but still served on the board of directors. Dean also notes:

• George W. Bush claims his formative years, which he extends to age 40, are out of bounds. Yet those are the years when one's character and values are formed. Bush had occasionally overindulged with alcohol, and he was a bit of an irresponsible youth.
• Dean believes Mr. Bush took advantage of his insider information when he sold his Harken stock in 1990, but he escaped SEC penalties because his father was president and many of the investigating officials had Bush family ties and other conflicts of interest. Many of the facts about the Harken deal remain buried and Bush has stonewalled all efforts to find out more.

Our first oil company/MBA president naturally views the world through the eyes of a CEO, according toEric Alterman and Mark Green. In their book, The Book on Bush: How George W. (Mis)leads America, they describe how this results in a probusiness/anticonsumer record, including crony capitalism with the awarding of post-Iraq war contracts (Halliburton, Bechtel, and MCI/Worldcom getting most of the contracts). Alterman and Green note that the first 2 years of the Bush administration coincided with the biggest corporate scandals and bankruptcies since Teapot Dome in the 1920s. Mr. Bush had to manage a falling economy riddled with corporate malfeasance. Companies on the corporate rap sheet:

• MCI/Worldcom -- the single largest corporate securities fraud in U.S. history.
• Enron -- the largest contributor to Bush's political career. The Bush administration is staffed with numerous former Enron employees and consultants.
• Harken Energy -- Bush's behavior on Harken's board of directors was similar to that of the companies caught in the corporate scandals. Mr. Bush received several memos from Harken officials about the impending financial crisis in the company, sold his stock, then several days later the Harken financial problems wewre made public. He failed to file notice of these sales to the SEC for 8 months. The SEC simply stopped their 1990-91 investigation.
• Halliburton -- Dick Cheney served as CEO and chairman from 1995-2000. He sold Halliburton stock before bad financial news regarding his company was made public. Halliburton committed fraud on its investors by overstating its earnings.
• Enron and Worldcom were followed by scandals and failures at Adelphia, Tyco, and others.

As he did to his unsuccessful businesses, George W. Bush is doing to the country -- leading it down a path of failure:

• huge federal deficits
• mismanagement
• deception
• cronyism.

The Bush family has had financial and oil business ties with Middle Eastern countries for decades. As explained by Kevin Phillips in his 2004 book, American Dynasty: Aristocracy, Fortune, and the Politics of Deceit in the House of Bush:

• "no other political family in the United States has had anything remotely resembling the Bushes' four-decade relationship with the Saudi royal family and the oil sheikhs of the Persion Gulf" (page 315).
• The investment firm, The Carlyle Group, is run by the Bush crowd (George H.W. Bush, James Baker III, and Frank Carlucci have been/are its top managers and advisers). The Carlyle Group served as an interface between these Bush characters and the Saudi bin Laden family. "Some commentators felt that some connections between the bin Ladens and their black-sheep relative (Osama bin Laden) persisted" (page 315). This connection directly links George W. Bush to Al Quaeda and leads to the logical question: In spite of the president's rhetoric, are Mr. Bush and Osama actually working together? Could that be why Osama bin Laden hasn't been caught?
• "Greg Palast (asked) 'What made this new president [George W. Bush] take particular care to protect the Saudis (after the September 11 terrorist attack), even to the point of stymieing his own intelligence agencies?' The answers, he said, kept coming back 'Carlyle' and 'Arbusto,' the two prominent interfaces between the finances of the Bush family and those of the bin Laden family" (page 316).
• The Bush administration demanded major deletions (especially in the 28-page section dealing with the role played by the Saudis and other foreign governments) in the 2003 joint report of the House and Senate Intelligence Committees on the origins of the 9/11 attack and how it might have been prevented (page 316).

Put that in your pipe and smoke it.

trust2112....You traveled in time to the mid- 90's to the early 2000's .....blah, blah, blah....what does any of that have to do with this thread----Gas prices rising this week....in 2012 ??? This is the Obama Economy....try to stay focused .....

It has everything to do with XL, you know the pipeline that runs from Canada to the ports, err refineries. Has everything to do with party, greed doesn't change. Have you asked if the oil is staying in America, no one wants to give a straight answer to that question. Because WE already know they will export the oil, so no jobs after the pipeline. Care to call that bluff?

The last time I checked, George W. Bush (thankfully) hadn't been President in over three years. His contribution to our current energy mess was siding with Nancy Pelosi and signing off on the Alternative Energy Act of 2007, not some "War and Peace" length novel of connections to the oil industry !!

As I said, the current increases are due to increased demand in Europe and Asia, not any manipulation from speculators or increase in demand in the U.S. !!

@ rudy: greed never recedes, it only festers and grows man. we are all screwed

Yeah, Rudy - I've been saying the same thing for years. The price of oil is self-regulating. When they run up the price, the economy slows and demand suffers. With diminished demand, the price comes back down. Then people will have more money to spend, the economy will improve, and they'll run up the price of oil once more.

The price of oil is not self-regulating, not unless you plan to wipe out major population growth centers like China and India. It doesn't matter how many new oild wells we drill or pipelines we authorize, the exploding middle class in those countries will suck up whatever oil there is and want more. This is not a recipe for decreasing prices.

Our only solution is to not need it in the first place. The price of oil will never go down again. Find another energy source.

Global Capitalist at work here, that's how US #1 export in 2011 is OIL. Why sell oil here cheap when you can get high price here and export the rest to other countries?

You guys really need to learn how corporation work, all in the name of PROFIT and damn the rest.

• Probably we need focus on RENEWABLE RESOURCES ( solar, hydroelectric, wind ) and take some measures to curb the use of non-renewable ( oil-coal ).

Fossil fuels are non-renewable resources because they take millions of years to form, and reserves are being depleted much faster than new ones are being made. The production and use of fossil fuels raise environmental concerns. A global movement toward the generation of renewable energy is therefore under way to help meet increased energy needs.

The burning of fossil fuels produces around 21.3 billion tonnes (21.3 gigatonnes) of carbon dioxide (CO₂) per year, but it is estimated that natural processes can only absorb about half of that amount.^[6] Carbon dioxide is one of the greenhouse gases that enhances radiative forcing and contributes to global warming, causing the average surface temperature of the Earth to rise in response, which the vast majority of climate scientists agree will cause major adverse effects.

Its true corporate geed is like a cancer you'll never cure it but if you try hard enough you might put it into remission.

@wcritiquing "•Probably we need focus on RENEWABLE RESOURCES ( solar, hydroelectric, wind ) and take some measures to curb the use of non-renewable ( oil-coal )."

The high price of fossil fuel is already curbing it's use in the USA.(Globally not yet) No additional curbing needed in the USA. Demand for it is down from better efficiency, using more renewables or just not using it as often(no jobs) and exporting excess(USA part of OPEC now?). Let's just hope the high price doesn't slow down the USA's (slowly improving?) economy further. I reluctantly agree that we should focus on renewables. At this price, I don't think we have a choice if we want to keep the economy not just alive...but thriving for our children.

ought to cock brothers not koch

Pull your head out.

Please restrain yourself and avoid any sudden movements. Your are so angry and upset you are blaming someone just like your buddy Soros. Get a grip!

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

http://www.georgesoros.com/faqs/entry/georgesorosonnaturalresources/

Read the entire site. You might educate yourself. George Soros has been a blessing to our global society more than any Koch brother can ever stand up to in comparison.

Every investor has been invested in oil, etc. at one time or another. Me included. Doesn't mean I would promote the gouging we are getting daily at the pumps.

You can honestly go to a george soros website that supports george soros and believe it as gospel trurth.....it would be like me (which I wouldn't do) saying the Koch brothers do no wrong and bring up a website of theirs to prove it.

Anyone who trys to prove a point like you just tried to needs their head screwed on again

Gov O'Malley wants to add another .25 tax on gas....You see, the toll bridges raised their rate and that pot is already dry because they spend it on other things besides transportation.....oopps. Now we need this new gas tax to fill that void because he just needs the money. I can see now how comfortable people have become with $3+/ gal of gas......

When questioned about someone in general, if there is a site by the targeted person of interest, read it first. You can Google Soros all day and night and his site is just a start to those inquires, however, he does have a forum to tout his good deeds as well as address FAQ's.

I answered the oil question but only posted the Soros site to educate you all.

Of course not. George Soros is pure. Only republicans are invested in oil. There are no democrats who own any oil stock. All democrats are also pure. Pure of heart and deed. They only want to help.

Thanks NiteQwlett, but if I want education, the last place I would visit is a George Soros site. The man is evil as evil can be.

The United States rank 3rd on population but consume 20.5 of the total

The discussion was around investing in oil. I did post a link to the Soros site because it told a lot about him in general. Most GOP supporters don't have any factual information about him, but are heavy invested in the rumors instead. He really is a good egg. But if you all want to believe the rhetoric instead of learning something new, here's to ya.

jpeg: what is his evil deed?

isn`t everyone invested in oil.

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

Just how is the GOP controlling the price of Brent Crude on the London exchange?? That is the benchmark that gasoline prices in this country are most closely aligned to. If Obama would permit rapid development of the Keystone pipeline so we could begin shifting to more of our crude oil coming from Canada, our gas prices would be less tied to what oil is going for in Europe.

Obama and the Enviro-Nuts want high oil and gasoline prices.

Peter,

All of the Canadian Keystone oil will be sold on world markets and not turned into gasoline for the US.

And explain to us if you would Peter, why exactly the Brent Crude oil is suddenly more expensive other, than by way of middlemen speculators who neither own for any length of time nor ever take actual delivery of the product they buy and sell.

Buddy: they are all crooks man. ever wonder why goldman sucks... oops I mean sachs is the single largest campaign contributor to both party's campaigns. think about it dude.

We have obama to thank for what will be hyper-inflation in all sectors! Gas prices are just the tip of the iceberg!

How many days without a budget now? What is this guy thinking? Oh, ya... get reelected at all costs! BS!

Its because Oil is a global commodity, not a regional commodity. We could pump every drop of oil in the ground out of it and because its traded globally would not drop the price.

The GOP didn't reject the keystone pipeline or stop drilling in the gulf your the one needs his head screwed back on.

Locally, it rose 6 cents in the LAST 2 DAYS. And it rose another 5 cents in the 2 days preceding. In 3 weeks, it rose more like 45 cents here, not 12....

@culheath-#7.2: Cheney-bush made $100 OIL a reality. This is all part of the wealth transfer into the upper stratum's.

Peter has lost his snail shells.

Actually brian, that isn't 100% true.... Saudi Arabia, and other such countries do NOT pay the international based price for their gasoline, it's more like $0.79 a gallon there. The reason is they don't buy any oil off the international market; and therefore don't need to adjust their prices based on the global market. They're such a major exporter, there is no need to import any of their own demand.... To make a long story short, cheap oil is subsidized to the consumer in their market, and it can be given their position of an oil supplier. People can buy off the regional market, when 0% is imported; and then export on the higher global exchange rate...

And this is precisely what we could do, if we not only got our supply domestic; but assured that 100% of US demand was met by local supply; only exporting the excess. We could essentially work out the same sort of subsidizing and deals within our own national market; the Saudis have going in their country and with their consumers....

But for this to work, our supply would need to have the same lack of dependence on international supply, the Saudis have; which would be 100% domestic supply. If Saudi Arabia can work out the market to make this a reality in their own country; others could as well, if they made the same reality in oil supply a reality for themselves as well. However, for this to work, our supply would have to be 100% domestic, meaning no imports in meeting our demand, whatsoever....

I like Nuadormrac comment because it makes so much sense. Instead of blameing obama or bush for that matter. I always said we should use our own oil and forget about OPEC and other markets, use what we need first, store some for times we need more like in the summer and then and only then sell off the rest. We dont need foreign markets tell us what we should pay for oil. let the markets direct other energy sources and use them as a last resort. We dont need the government telling us what fuel to use. We need oil solutions NOW and let the markets direct the solar, bio and other so called clean energy. there is no such thing as clean energy because all produces HAZ waste!

buddythis,

Please enroll in a college level economics class before you vote again. Your ignorance is unbelievable!

Buddy, your post is very telling. You should really seek professional help for your paranoid delusions.

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

I guess you like kissing them on both cheeks (pun intended) and holding their hands while showing them the pretty flowers like GW did. Get a real argument, or go back to your nap.

That's the start, better than oil speculator keeps using excuse to increase price.

You need to learn more about global market, price will keep increase because oil company can sell it else where. Even if US drill everywhere, the price will keep going up. Why sell cheap here when you can sell more elsewhere? That's how global capitalist at work, learn about it.

The oil companies receive millions of dollars in perks from the tax payers here and then ship the oil out of the country. Keep what we need here and only ship excess but wait that would cut down on their overblown profits.

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

The price of gasoline, just like crude oil, is set on commodity exchanges. The wholesale price for gasoline in this country is most closely aligned to Brent Crude which is traded on the London exchange.

Peter, you are one pitifully brainwashed minion of the GOP. Heil, heil, Seig-Heil the Monkeys are all here to follow their corporate masters.

And yes, for the smart-arse who snipped that it was Bush's fault! You can ABSOLUTELY bet the Bush Family and GOP main players are deep in to the manipulation of crude thru their Carlyle Group ties.

you don't buy oil from kansas. You buy oil from the global market which is influenced by speculation

Oh my! The fish rots from the white house down. Blame Bush but I see hell in the hand basket AFTER he left. 3 years now and I feel like I am reliving the 70's. Time for Jimmy to go again and please take your heads out of the jar and look at your lives...you are not better that you were four years ago if you are honest and that has nothing to do with the GOP or any other boogie man you may want to blame. I do not want Dear leader to bring everyone down to the lowest level I want to be able to reach the highest level with the Government out of my way!! Out of my life, out of my kitchen, out of my bedroom, out of my pocket!

Because oil is imported; and as long as we're importing, our price is being effected by the global market. Also, when one station raises it's prices, the station down the street sees this, and raises theirs too... If they all raise it together, or close enough together, they know they can get away with it.

Ironically, gas stations in Bucks county PA, keep their prices tied closely to NJ gas prices, being close to he state border. Philadelphia gas prices are higher all around. Even stations close to the Phila border (like in Bensalem, PA) sell along the lines of the Mercer county, NJ price; but even being just north of the northern Phila suburbs, it's still only a 15 min drive (on highway) from the NJ state line. Case in point, stations near the Neshaminy mall (about 2 miles north of the Phila northern suburbs on US rt 1) have kept their prices close to the NJ market price, but go a couple miles north, and now one's paying the city price. The surrounding towns don't price match with the local city, even though their in the same state; the stations see themselves as competing with NJ on gas customers, being that close to the state line....

To enjoy the sort of breaks Middle Eastern countries see on their own gas prices, the entire market would have to be independent of the global market for supply. At that point, things can get subsidized, where in many Mid Eastern countries one gets gas around 20% of the global market. Import anything from the global market, and you're buying off that market, hence.... We, as a country import about 58% of our oil, nationally.... A country like Saudi Arabia imports like 0%....

Just who is "stealing" what??

Peter, Peter, Peter...

It's called wealth extraction and is the basis for both Wall St and the commodities exchanges.

http://www.youtube.com/watch?v=58IbEqAks_I

Peter, you really clueless about how global capitalist works.

It's all about PROFIT, PROFIT and more PROFIT. Why sell cheap when you can sell higher elsewhere. Why sell at low price when they can come together and everybody involves can make a big profit from it.

China is a big example, learn from history. One company finds out about cheap later, then everyone else move there as well for a piece of the pie.

If you have anything against this, then speak up. So far, you have zero argument whatsoever or any thing to support your points.

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

Idiot, this is how global capitalist at work. Why everyone make stuffs at China? Cheap labors.

Why sell more oil here when they can sell it elsewhere. You support capitalist and have no clue or any understand about how it works.

Why compete when they can get together and everyone can make big profit.

I'm an "American working person" who has dealt with oil and gas pipeline projects before and I don't care to see Keystone finished at this time. We don't get anything but the crap from Canada's drilling as we watch the oil go to world markets.

Johnny: where do you get such malarkey? Worse, why do you allow yourself to believe it?

First of all, presidents do NOT set oil prices - they are mostly a reflection of supply vs. demand on a world market, understand? So if you think prices are too high (they aren't), then DRIVE LESS and USE LESS. Second, did you know that there is more domestic drilling going on these days under this president than at any other time in our history? No, you didn't? I suppose Fox didn't inform you. Finally, if you really believe that that magical pipeline will solve our energy problems and reduce prices, you are living in la-la land, friend.

Oh, and another thing, Johnny - Obama is going to be re-elected, so get used to it.

At least that pipeline would give some people some jobs......another thing, why is it that liberal language comes from that "magical" place that you think your sh** doesn't smell?

Do you really get off, Joisy Devil, being rude and crude?

Obama's polocies are helping to keep oil prices up. Even his energy secretary Mr Chu has admitted that we need to have our gas prices the same as europe. That way they can shove their green energy programs down our throats. They think that the average American can go out and buy an electric car. They are wrong,out of touch and ignorant.

Oil price is SUPPLY VS DEMAND? You got to learn more about how capitalist at work.

Even if US drill everywhere and have pipeline all over the place, the price will remain up there. Why sell cheap oil here when they can export it elsewhere?

Yup, blame Obama for something that happens based on global capitalist. Did Obama cause all the company to move to China in the last 10 years or so?

hockey girl-3252062: The jobs would be given mostly to Candian workers as the company already said it wants to mostly employ it's own for the project

u got that right him and CHENEY BIGGEST CROOKS EVER TO STEAL 2 ELECTIONS

Eventhough I agree you both that Bush and "shooter" Dick Cheney were two of the biggest crooks to ever step foot in the White House, how could todays oil prices reflect what Bush did or did not do? I will admit that there are a lot of politicians that are in bed with the oil companies. Bush was in bed with them at one time too, but I think that Bush has resigned himself and slinked away riding off into the sunset.

Looks like you and other libs are still suffering from Bush Derangement Syndrome. Obama has been Pres. for three years, and the Dems still control the Senate, yet it is still "Bush's fault" Gas was $1.89 a gallon when he left, and is getting close to $4.00 a gallon now under Obama You Leftist loons will be blaming Bush for the next 100 years!!

We are getting hosed.....thanks for the sarcasm!

bill and booty, you guys need to grow up and get out of mommies basement.

If your father cause a mess and you pay for it for 20 years. Would you stop blaming your father?

I have always been in favor of free enterprise but -- as I grow older -- it strikes me that there are certain 'things;' FOOD, SHELTER, FUEL. AND MEDICINE, for example, which should be taken out of the hands of profiteers and, in fact, controlled in price by an honest government.

If that's what Communism is, then MOVE OVER KARL MARX!

Really,then explain to me why big oil is greedy and yet the federal government makes more off a gallon of gas.Just maybe its the feds who want to see the price go up.This administration shut down drilling in the gulf,refuses to allow any new drilling anywhere.Dont blame big oil blame obama.What were you paying for a gallon of gas the day obama took office?Even you liberals cant be this dumb and blind.

dennis...YES THEY CAN!

Then explain to me how in 2011, our #1 export is OIL.

You have no clue how global capitalist at work. Why sell cheap when you can sell higher elsewhere? That's how it works, educate yourself.

Oh come on, how else would you finanace road maintenance, and repairs?

taxes are not the reason gas has gone up it is the greed of the oil companies

Jim...

From 2006 to 2010, the nation's five largest oil companies posted an average profit margin of 6.65%. By contrast, Apple's profit margin exceeded 22% and Coca-Cola's surpassed 33%.

Who exactly is greedy?

jpeg you got that right. Don't for get Walmart.

Tony: if drivers, for example, paid the full internal and external costs of driving, they WOULD be paying at least $5 to $6 per gallon, if not even more. Therefore, I would not be bitching much about the current price, because it is still a huge bargain because of the enormous subsidies afforded to big oil and the driving public via road construction, maintenance, et al. And guess what? Our roads and bridges are STILL falling apart, so go figure.

Tony been walking up right long.

That's because the moron doesn't have to buy any gasoline.......he will go down in history as the worst ever taking the place of Jimmy Carter, another stupid liberal democrat.

Proof of that statement please.

Dennis...google is you friend...try it....but you are right to question it...his actual statement was $4 a gallon.

The oil we pump out of our own soil is ours and so we dont have to put it on the world market.That only applies if we sold it outside our country.

Which exactly will happen. It will be sold on the world market. I am in favor of it by the way. It is about time that we started exporting more. I do not see that trend slowing down, especially with the aviation and diesel fuel that we are exporting due to the global demand.

Amen Mac they aint in it for us they are in it to win it

Please don't forget the oil deal Obama made with Brazil....$2 billion from the US for them to do oil exploration. Now take another guess who owns the oil rigs in production off the coast of Brazil.....hmmmm ready? It's Mr. Soros. Please cut the crap that big oil is behind the republicans only. Do you know how much money Soros will make on this. And he certainly ain't a friend of the Republicans.

And please don't play the hockey puck game again...I did the research and lets see if you're smart enough and can find "Waldo"!

Yes both Democrats and republicans are in big oil but there are more big name Republicans that are in big oil. George Bush was in a partnership in oil with Bin Ladens brother. The USA exports more oil to europe and Japan than we import. so we should keep the oil here and stop importing it.

uknow where the oil profits are down in MIDLAND TX, ON numb nuts ranch

"uknow"........ I dunno......... jeesh, get an edjumicashun

Jim, it's not the GOP that blocked the Keystone XL pipeline that would help bring landlocked Alberta oilsands and Bakken "tight" crude to Texas refineries where it could displace Venezuelan and Mexican imports (the contracts for which are soon to expire). And it's not the GOP that's double-daring the Canadian government to find new markets (including China) for its oil exports, exports that currently have only one customer, the U.S.

The number one supplier of foreign oil to the U.S. is Alberta, Canada, not the Middle East.

Where do you think that pipe line is going to??? A sea port. That means it will be shipped out of the country. So what if it crosses the US and risks polluting some of the most important food growing region in the world and one of our largest fresh water aquifer's. It would create a small number of jobs but would not solve any problems. Stop free trade and you'll see some massive number of jobs. As far as the high fuel prices, create an energy plan that puts a huge emphasis on Wind and solar, then fuel cars and trucks with Nat gas. Becoming energy independent in multiple fuel sources is the only way to stop being held hostage to the oil companies, ours and theirs. We could of course nationalize the oil companies and stop the flow out of our country but that wouldn't be American. We could also investigate and jail the oil company executives for squelching every invention that would offer huge savings on gasoline for the last 75 years. Another sure way to cut the demand for oil is for everyone to STOP having children. More population means more demand. Oh, and you could stop voting for those that are in the pockets of the oil companies.

And, that would force the issue of taking Afghanistan over completely.

Why?

Well, the reason we are in Afghanistan was NEVER solely to get bin laden..., he was the manipulated "excuse"...., the patsy.

Afghanistan has the single largest deposits of LITHIUM on the entire Planet!!! There is more than THREE TIMES the energy equivalent of lithium in Afghanistan than there is OIL-energy on the entire Arabian Peninsula!!!

Lithium = used for those $5,000 batteries for those electric cars.... and for just about everything else we use today that is battery powered...(cell phones, Ipads, etc...)...

We need a DIRECT connect to the real source of all this energy -- the SUN -- not an indirect source where all the wall-street zionists can put their hands into our pockets, at every turn....

"big-oil" has always been controlling our congress -- war after war after war... seizing oil (for the big-oil profiteers) was always the "real goal"...., it just so happens now that it is the entire GOP that is owned by wall-street traders and 'big-oil'....

The wall-street woend and elitist managed GOP is no more than a festered CRIMINAL ENTERPRISE, a full blown right-wing conspiracy!!!

Then why is Barack Hussein Obama insuring Afghanistan falls the way Vietnam did? When Afghanistan falls China, Iran and Pakistan will be the big winners. Bad theory you have.

Also notice you mention nothing about BHO's oil war in Libya and the resulting big bucks, for big oil (Wall Street).

Didn't see a comment about BHO doing nothing about high prices of gas either. Were Bush still in office, you would be crying to high heaven. Oops! can't cry to heaven, BHO is now attacking the Catholic and Jewish religions. But then, as Stalin, Lenin, Mao and Hitler did, he has to attack the church if he is to accomplish his (and Saul Alinsky's) goals.

Some solutions would just be too easy

Americans are not stupid. They are simply apathetic. They want the government to fix everything and not have to change anything themselves. Won't work that way. They will complain to one another and create enough noise to make politicians posture and preen but do nothing. Change your habits and quit buying. You need so much less than you think.

As soon as everyone converts to that, LNG will go sky high. Just don't see an easy fix to anything.