Gas Food prices, blame the bums in Congress

[LLOYD19851012]

You fill your car up with Gas? So what do you use to heat your homes and cook your food, Petrol?

[shmuli9]

Food is def more expensive, but accounting for natural price rises, gasoline even at its most expensive today is considerably less expensive than what was paid in "these United States" in 1975 or 1985, or 1995... Really, fuel should cost $5.00/gal or more. It might be unpleasant, but perhaps people wouldn''t think they had a "right" to have a commute of 200 mi RT cheaply...

[shartne]

lets vote these comies out of office and drill for some oil!!!!

[PropagandaBuster]

Type "Anno Domini" in Wikipedia. Then look at the 3rd paragraph.

[Thill029]

Funny how Democrats always accuse Republicans of establishing a fascist state and blame all of America's problems on them. When in reality it is the democrats who are imposing more controls, limiting more freedom (sound like fascism? It is!), and making such a big mess of things that to fix things they would have to abandon their entire philosophy. But they continue to claim that they are the saviors. Wake up America, the dems are destroying your country.

[PropagandaBuster]

Yeah America "wake up" before it is too late!

[asleeperj]

@Thill029 Eh, both parties are to blame. Eisenhower said to beware the military industrial complex, and look what both republicans and democrats have done. You have Libya, Pakistan, Afghanistan, Iraq, Bosnia, Yugoslavia, and on, and on, and on, and on, and on. Both parties are to blame. Remember that what ever number of guys in a cave are scared of us because of our freedom, or is it that we have been involved in the middle east, with the CIA, since the 50's. I'll take the latter, thank you.

[shikira]

Inflation is the fed increasing the money supply ... check out the M3 account. Actually you cant they stopped publishing it.

Adam Hamiliton did a great essay called gold boiling in oil.. worth a read.

[shikira]

Is it any wonder that the oil price goes up when the US is debasing their currency likes it going out of fashion? Of course the Venezualians and Saudis are not going to sell oil in 1999 dollars when inflation is probably at around 20% right now.

[gayproundatheist]

Stop Oil Drilling! Vote Obama 08! Respect the Owls space.

[keith92234hotmail]

thank you

[poofpowergirl]

Nice to see Obama's tribe running Congress has blocked any drilling and gas was $2.84 per gallon under Bush until dems or is it 'dums' took contol. So dums keep blaming Bush, we don't believe it. lol

[stormz7675454]

shit loads of oil in Venezuela!!!!!

Thank you....

[shmuli9]

@stormz7675454 There's lots of oil in/under Venezuela, but all oil will run out in the forseeable future, so we probably SHOULD save it (maybe for vehicles) and not burn it to create electricity (in Washington State, ALL the power is generated via hydro dams, wind power, and solar power - I'm amazed there are places that still burn oil in the US, Australia, and certain other countries).

[radiopipiles]

we just gotta go out there and make more money.

That solves the problem.

If ur an employee, then you may have problems, but none the less the money is out there, you just need to find a way to make it come to you.

[doclsdc]

Forgot to mention that the estimate is 60% of today's gas prices are due to futures trading. So here we have gas at $4.60/gallon. Without the oil futures driving up gas prices it would be $1.84/gallon.

[doclsdc]

i just googled the real reason for high oil prices. None of them mentions high demand or low supplies. So offshore drilling is a red herring. The real reason is oil futures trading that have a 16 to 1 leverage on the actual demand on oil. They only have to pay for 1 barrel but actually have the affect of 16 barrels increase in demand. The crooked banks involved with oil futures are behind this and they need to be investigated.

[sandtann]

be nice to have a boston tea party....!!!!

[PatricksTime]

We should have drilled 30 years ago!!! We recognize drilling won't solve the problem tomorrow it is a must that we start to SOLVE the problem...NO BAND AIDS!! Until we have domestic oil congress needs to cape all government taxes to keep it affordable. Drilling would push the money hungry speculators out of the market. These damn taxes rise proportionally with each barrel making the government just as much to blame as Big Oil which is anything but BIG in the global market.

[Rmauricio69]

Hey, Rocky Balboa, China is not drilling in Cuba, you are lying. Find this video(v=D5hR14NF0es) about Florida senator Mel Martinez says the is a lie. And he is a republican.

Besides what has Bush done in 8 yrs about this??? Congress have been there only for 2 yrs.

[USVeterans]

Great video! haha at "ya idiot!"

How can we get them all out and start all over? We need to drop all the extras congress gets, reduce their pay. Maybe after we do that, the REAL people of these United States that want to protect the people might offer their services for congress.

In the meantime, we're screwed.

[PropagandaBuster]

Naaw, just vote out every one this November. We have to vote.

[MostlyPoliticalStuff]

We need to destroy congress......

[PropagandaBuster]

Yes, we need to destroy them in this up coming election, vote all of them out.

[MostlyPoliticalStuff]

I WISH THERE WERE MORE PEOPLE LIKE YOU, I hate idiots who won't let us drill!!! Thank you

[PropagandaBuster]

Thank you.

[PropagandaBuster]

Based upon that decision, there a movement in New Hampshire, where that weasel justice Souter comes from, to take his land for a shopping center. Any idea what ever happened there?

[LobsterHammerFoot]

Fine you guys win.

[PropagandaBuster]

Thank you for the win. But I have to take issue with that win. We did not win, we lost. We lost because we still have those bums in Congress. When my fellow Americans wake up and get out of their fat stupor to vote those bums out, then on that day we would have won. All I can say if we survive as a nation till 2012, then perhaps the current governor of Louisiana, Bobby Jindal can save the republic as president.

[LobsterHammerFoot]

Yeah Finally see How we(The Whole world) need the Damn oil so bad. You think you have it bad in america try buying gas here. $2 friggin Dollars for a "litre" of Gas.

[PropagandaBuster]

Once again you can blame the bums in the USA Congress for that. If we would drill our own oil, it would immediately bring down the price of oil on the world market. But our Congress no longer represents the people of this nation. Now with the Supreme Court decision yesterday, people in the real America are boiling, just boiling, and we are sharpen our pitch forks.

[takasito]

The most outrageous decision made by the Supreme court in the entire history that was. Not only politics, but the entire justice system has been already polluted by "some" ppl.

[PropagandaBuster]

The Supreme Court decision once again proves that liberalism is a mental disorder. People should understand just because The Supreme Court makes a ruling it does not mean that ruling is constitutionally correct. The Supreme Court once said slavery was constitutional. The Supreme Court also validated the decision to intern Americans citizens of Japanese decent during World War Two. That is why we refer to The Supreme Court as a bunch of dirty robes.

[DrBenDoverHere]

This is not about the US buying oil, but what currency oil is traded in, which used to be entirely USD which is very good for your government because oil producing nations invest dollar proceeds in US treasury bills, which reduces your current budget deficit. By trading in Euros, Iran is no longer doing this.

[takasito]

"because oil producing nations invest dollar proceeds in US treasury bills, which reduces your current budget deficit."

Really? Oil producing nations may have their 1st foreign reserve in USD. And the "foreign reserve" in currency such as Bonds issued by certain nation (FRD).

which does actually increase the deficit as the bonds, as long as the interest rate exsists.

If Iranians decide to reserve their foreign currency in Euro, which means, they will buy the bonds issued by ECB.

[takasito]

yeah that is the point.

Iran has not selling anything to the US for long time, thus it is impossible for anybody to claim "creating own market will damage the USD".

Iran is a member of OPEC for long time, has been selling Oil for the customers such as Europe/Japan. Any "impact" on the International financial markets which mean, when they will officially start investing their oil money onto the stock/bond/commodities markets.

[DrBenDoverHere]

Currently all three major oil markets (WTI, NYMEX, IPE) trade barrels of oil in US dollars. Consequently any country buying oil needs dollars to pay for it. This enables the US Federal Reserve to issue huge volumes of dollars to meet increasing demand for oil. In return oil producing nations invest dollar proceeds in US treasury bills, allowing for the current US budget deficit.

[DrBenDoverHere]

But this balance has become unsettled after a fourth major oil market opened, trading in Euros: the Iranian Oil Bourse (IOB).

This is having a very negative effect on the US dollar

[takasito]

"fourth major oil market opened, trading in Euros"

sorry I do not understand what you mean. Do you know how International monetary policies work? how about inflation? or International politics? or have you ever heard of "Margin trading"?

[dtspace0]

Dr

The US dollar is the world's reserve currency, & this certainly applies to crude.

The Iranians changing from the US to Euro dollar is no surprise, nor is it the cause of the weakening US dollar, instead the after effect.

Inflation is why the US dollar is failing. The fear of the failing US dollar is pushing investors away from equity investments (cash included) to towards energy (mainly crude)...not because of the Iranians.

[DrBenDoverHere]

Sir, I am no expert on oil nor the falling US dollar. I do know that the Iranians have started their own bourse and have the world's second largest oil reserves of 136 gigabarrels which has to impact on the world's financial markets.

[dtspace0]

Dr

No, I'm not an expert either. Just like you, I'm just well read on certain topics.

Excellent point you made though.

[dm71wtf]

Apart from posting videos asking people to do things, have you actually done anything yourself if you want to help/change situations such as this?

[PropagandaBuster]

What did Paul Revere do but ride a horse through the night yelling, "to arms, to arms...." It all has to start somewhere, and I am here metaphorically yelling "to arms, to arms..." In addition I vote in every election against current office holders (most of the time). Plus I preach the same to all I meet. 

Now may I ask how you are contributing to waking up a sleeping nation?

[Mr914]

Should we sharpen our pitch forks? Or load up on ammunition? Sounds crazy, but that's the vibe I get from the average Joe lately.

[PropagandaBuster]

I am getting that same vibe. The pot is boiling across the fruit plain and those bums in Washington are blind to it.

[LobsterHammerFoot]

Man The only good place for Gas now is Venezuela where gas or Diesel is 12 cents a gallon. Here in the Phil we pay about $2 a Litre

[dtspace0]

lobster

We could have that too.  Another bloated social program should do the trick.

You either love or hate the open market.

[Supenmanu]

To-morrow, and to-morrow, and to-morrow,

Creeps in this petty pace from day to day,

To the last syllable of recorded time;

And all our yesterdays have lighted fools

The way to dusty death. Out, out, brief candle!

Life's but a walking shadow, a poor player,

That struts and frets his hour upon the stage,

And then is heard no more. It is a tale

Told by an idiot, full of sound and fury,

Signifying nothing.

[antiklaus]

The oil companies in the US are intentionally shutting down.

I have had a friend who has worked for over a decade drilling petroleum and supporting this effort, and at the peak of oil prices and oil demand in the US, he is now unemployed, because the company has decided to scale back production.

What does this tell us? They are intentionally inflating the oil prices and increasing our reliance on foreign oil!

This should be a crime... but our bought and sold Congress will do nothing!

[highway234]

yup, it's also a great way to trick people into drilling domestically. it's perfect for the oil companies, they're making record profits and once they're done stuffing their pockets they'll trick people like this guy into begging to let them drill through our living rooms. it would be funny if it were happening in some other country.

[antiklaus]

No lie. I had an oil company executive harass me when I bought a piece of property adjacent to a planned drilling project. He convinced the water company to raise the cost of hooking up water and the electric company to raise the cost of hooking up power to my new home site. And he used the police and other county employees to make it impossible for me to develop my land. Eventually, I sold the property after personal threats.

They drilled, found oil, and capped it! And it stays capped!

[dtspace0]

antikalus

To some extent, you have an ounce of truth to as how oil companies (mostly foreign, not American) affects oil prices, namely OPEC. It's my opinion crude oil should be around $70a barrel, adjusted for increased demand.

The real reason why crude is priced so high is because of the failing US dollar & huge investors hedging their bet against the dollar buy backing crude. That's the real reason & not because of oil companies' greed.

[highway234]

the oil we drilled in the alaska wildlife reserve wouldn't be on line for several years, i'm hearing. so as a quick fix i dont think it will work, but if allowing it to go forward will set aside this "drill for oil domestically" distraction so we can start really working on the problem i'm all for it. the US hit oil development peak in 1970 and that's not going to change.

what are the proposed gas taxes going for? if they're going to rail development it might be worth it.

[ExposeScams]

suburban sprawl is going to be one of the main contributing factors the downfall of the USA economy...

[dtspace0]

Expose

Wrong. It's inflation.

[DrBenDoverHere]

Isn't there some problems with that new oil find in the Gulf of Mexico because it is down so deep when it comes to the surface it is really hot and needs to be cooled? And also I read that it's mixed with natural gas and the cost of accessing it and seperating the oil and the gas would make it unviable. Also the greenies won't let oil rigs there because of the risk of hurricanes. But you are sitting trillions of barrels of crude oil shale which can be refined into regular crude oil.

[numba1stunna4269]

Newt Gingrich has an online petition going to get us pumping our own oil right here in the USA. Sign it!!!

[rodneykingman]

I saw in the news that thousands of people are riding horses to work and school now because of oil pricing. One of the goals of the "New World Order" (according to David Rockefeller in his autobiographical writings) is to bring the global economy; including the US economy to it's knees (propagation of despotism) in order to gain more control and the upper hand.

[rodneykingman]

It seems to me that if many of the organizers and proponents of this so called "New World Order" speak openly about this maybe they are actually following thru with it and what we see today with the thousands of small trucking/shipping companies going bankrupt, the hundreds of thousands of bankruptcies & foreclosures, the extreme oil pricing, the rapid increase in the price of food, goods and precious metals is only proof that what has been stated openly for many years no is coming to fruition.

[zhman93]

ok when people say "i think there rising becuase" its really annoying becuase the fact is that its riseing becuase congress isnt letting us drill there isnt any opinion on this...

[AgileNate]

I agree with you. People think the next president is going to solve today's issues but they are the same people that are in charge now.

[JJPaten]

This is pretty ironic.

[myway43]

Unfortunately I do not live in a pedestrian city. I live in a small town, I have to drive 44 miles everyday to work. The price of gas is killing me.

[PropagandaBuster]

We need to vote all those bums out of office.

[LobsterHammerFoot]

Hey Maybe they are just waiting for the Mid east to run out of oil so US can sell oil twice as high as OPEC. I mean Come on even Russia who has oil and natural gas is doing the same shit. China has lots of oil in its seas and mountains but the only oil they want is from foreign lands. So when these lands are dry of Oil, The US, Russia, Venezuala, China, Maybe even Vietnam are the new world leaders of Fuel Merchants. As if Russia isnt already a High Fuel Merchant.

[TheCZMan]

No, really? The very idea that pumping up others'resources until dried up while keeping close fields untouched, making it easy to defend this strategical resource in a near future might sound like liberalism on this channel. And liberalism is a mental disorder.

[takasito]

The Congress is seriously disgraceful. Damaging the economy is the only way to solve the man-made global warming hoax, then their Hero Al Gore should be granted the Nobel "destruction" award.

One representive from California looks for nationalizing the entire Oil industry, in order to let them drilling on the US soil. Why? that sounds exactly Communism, even Chinese do not let it happens nowadays.

[PropagandaBuster]

This all proves my repeated points that liberalism is a mental disorder and political correctness is solely responsible for the ruination of our representative democracy. The America I grew up in no longer exists. It is time for the world to look to another nation as the beacon of freedom as that lamb has been extinguished in these here United States.

[LobsterHammerFoot]

Liberalism is like Gay evil to me no pun its just that they have the power to summon hippies that dont know shit and make it look like their not. BEcause truelly Hippies are the Voice of the mindful youth... Cough... Sarcasm.

[markymarkuss777]

Severe Recession 2008, GREATER DEPRESSION 2009! Prepare now!

[117rebel]

i wonder if theres enough oil in America to lower gas prices down 1 cent a gallon? that would be AMAZING!

[PropagandaBuster]

There is enough oil in the USA to where we would not need a drop of oil from the Middle East and other despotic regimes.

[117rebel]

we're insane not to take advantage of that! imagine the billions if not trillions of dollars a year we could save!

[LobsterHammerFoot]

Oh yeah by the way thanks to Liberals China and Brittain are now far ahead of stem cell research which hundreds of Foreigners come to China or Brittain for medical treatment. Dont Believe me? Look it up. The Paralyzed can walk again.

[TheCZMan]

Well, GWB is for sure a liberal. Thanks to him this liberal.

[PropagandaBuster]

Have you been lost on the Appian Way?

[dtspace0]

Not easy as it sounds, tapping into our own oil reserve to find relief. The thing is, we, along w/ most nations participate in the world market, which surely includes crude oil. Even if we were able to produce 20+ million barrels of oil today, it wouldn't go directly to us, the Americans. The oil would be placed in the world market for all to bid.

[117rebel]

if i was president i would make sure it all went to us Americans first. thats ours...not other countries. after we all pay 1 cent a gallon we can sell the rest to other countries. to hell with the world market lol.