Gas Prices To Rise Throughout Rest Of 2012 (And What Was It Obama Said About High Gas Prices When Bush Was President???)

Obama on gas prices back when Bush was president:

I bought my gas in California Sunday afternoon and paid $4.26 a gallon for the privilege.  And guess what: it isn’t going to be getting better, we’re being told:

Gas Prices Set to Rise for Rest of 2012?
By Sharon Epperson | CNBC – Tue, Aug 7, 2012 5:21 PM EDT.

Gasoline and oil futures surged Tuesday to the highest prices since May, as traders predicted the damage from a fire at California’s third largest refinery could take months to repair.

The lowest retail gasoline prices of the year may already be behind us, some traders say, especially in light of this incident as well as refinery issues around the U.S. and across the Atlantic in the North Sea.

September RBOB gasoline futures briefly topped $3 a gallon Tuesday, and settled just shy of that mark, near a 3-month high. The more than 2 percent gain in gasoline futures sparked big gains in the oil market, where London-based Brent crude prices jumped over $2 to more than $112 a barrel and WTI oil futures topped $94 a barrel in New York, then settled up more than $1 at $93.67 a barrel.

The fire at the 240,000 barrel per day Chevron refinery in the San Francisco Bay area started around 6:15 pm local time Monday and blazed through the night before being extinguished early Tuesday. Chevron’s Richmond refinery produces about 15 percent of the gasoline used by California drivers, says energy analyst Andy Lipow.

Operations at the refinery are expected to be hampered for some time. Analysts say it could take months before the crude distillation unit where the fire broke out is back to normal operations.

The local gasoline market in California saw a swift, steep price surge-far greater than at the New York Mercantile Exchange. Spot gasoline prices soared in San Francisco, spiking over 35 cents to $3.32 a gallon, skyrocketing 12 percent. Prices could climb at least 40 cents in the wake of this incident, says OPIS analyst Tom Kloza.

California spot prices help determine retail prices, which were at $3.86 a gallon for the state-wide average on Tuesday and already higher than this time last year, according to AAA. Due in part to the specific blend, California gasoline prices are always among the most expensive in the country, currently 23 cents above the national average of $3.63 a gallon. (Track commodities here)

Rising Brent crude oil prices, due to tight production in light of maintenance of North Sea refineries, as well as other refinery issues in the Midwest and East Coast, are also helping to support gasoline prices, traders say. On average, retail gasoline prices are up 13 cents, since hitting $3.50 a gallon for the national average a week ago, according to AAA.

“People probably paid the lowest price for gasoline for the year a few weeks ago,” says trader Anthony Grisanti of GRZ Energy. “When you add up all of the impact (from refinery issues), prices will keep going up.”

Strengthening global oil prices have also aided the rally in the gasoline market. Tropical Storm Ernesto could disrupt oil production and distribution in Mexico this week and a pipeline explosion in Iraq disrupted oil and gasoline supplies to Turkey early Monday. Supply concerns due to tensions with Iran and violence in Syria have also contributed to steady gains in the oil markets for the past month.

In Obama’s God Damn America, oil companies are being fined for not using a biofuel that literally does not exist:

WASHINGTON — When the companies that supply motor fuel close the books on 2011, they will pay about $6.8 million in penalties to the Treasury because they failed to mix a special type of biofuel into their gasoline and diesel as required by law.

But there was none to be had. Outside a handful of laboratories and workshops, the ingredient, cellulosic biofuel, does not exist.

In 2012, the oil companies expect to pay even higher penalties for failing to blend in the fuel, which is made from wood chips or the inedible parts of plants like corncobs. Refiners were required to blend 6.6 million gallons into gasoline and diesel in 2011 and face a quota of 8.65 million gallons this year.

“It belies logic,” Charles T. Drevna, the president of the National Petrochemicals and Refiners Association, said of the 2011 quota. And raising the quota for 2012 when there is no production makes even less sense, he said.

Don’t feel too bad for the oil companies, though.  Because they are passing those idiotic penalties on to YOU in the form of higher prices.  It’s just part of what you get for voting for the most depraved president in American history.  Think of it as paying a fine for presidential leadership and common sense that doesn’t exist.

In Obama’s God Damn America, oil companies are required to add ethanol to gasoline no matter how idiotic it is to literally burn food while starving people die or how expensive it makes our fuel:

U.S. drivers saw prices at the pump rise 5.1% in July, the largest increase for the month in more than a dozen years. On top of oil speculators and geopolitical tensions, ethanol also played a role this time.

According to AAA, national average gasoline prices rose 17 cents a gallon over the course of July, to $3.50. About four to five cents of the increase were due to higher ethanol prices, making it “a serious contributing factor,” says Avery Ash, AAA’s spokesperson.

Almost all the gasoline that’s used in the U.S. has a 10% blend of ethanol in it, and most ethanol is produced from corn. As corn raced to a record high amid hot, dry weather, ethanol prices soared, up 17% in July.

Just like the change in crude oil prices, when the underlying price of ethanol changes, it goes all the way through to the price at the pump. For every 10 cents the price of ethanol changes, the price of gasoline is going to change by one cent.

In Obama’s God Damn America, we get the worst drought in fifty freaking years and the highest food prices in history:

The US corn crop is in a state of disaster, with more than half of all US acreage listed in poor or very poor condition due to a record-breaking drought.

And:

The drought that’s drying up the Heartland isn’t just an American problem. It’s causing food prices to surge worldwide.

And it could get worse.

This is not some gentle monthly wake-up call, it’s the same global alarm that’s been screaming at us since 2008,” said Colin Roche of Oxfam, noting that the drought could lead to food shortages for millions of people worldwide.

Food is a major U.S. export, so the drought affects prices around the globe.

“World leaders must snap out of their lazy complacency and realize the time of cheap food has long gone,” Roche said.

It’s kind of interesting how things began to literally go to hell the year that America elected Obama, isn’t it?

You read your Bible and see what happens when a people embrace wickedness the way we did in embracing the most wicked president in our history.

However, if you do not obey the LORD your God and do not carefully follow all his commands and decrees I am giving you today, all these curses will come upon you and overtake you: You will be cursed in the city and cursed in the country.  Your basket and your kneading trough will be cursed.  The fruit of your womb will be cursed, and the crops of your land, and the calves of your herds and the lambs of your flocks. — Deuteronomy 28:15-18

Or as I put it back on November 4, 2008:

Obama Wins!  God Damn America!

As gas prices and food prices and all kinds of other prices keep climbing out of control under this failed fool’s leadership, you just remember Obama pointing his hypocrite demagogue finger at Bush when gas prices went up.

But Bush is gone and according to Obama himself we all should be pointing our fingers at Obama now.

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2 Responses to “Gas Prices To Rise Throughout Rest Of 2012 (And What Was It Obama Said About High Gas Prices When Bush Was President???)”

  1. Anonymous Says:

    TYLER — Another 10-cent gas price hike virtually overnight this week, and we all look at the news and wonder why.

    It has to be the Middle East, Libya, BP, ANWR, SUV drivers, Republicans or Democrats.

    It is frankly none of the above, at least mostly. t is Wall Street.

    If you want to know how a price bubble like this one happens, just look back 3 years ago.

    Investigative reporter Matt Taibbi explains what happened.

    “That summer, as the presidential campaign heated up, the accepted explanation for why gasoline had hit $4.11 a gallon was that there was a problem with the world oil supply,” Taibbi says. “But it was all a lie. The global short-term flow of oil has actually been increasing. In the six months before prices spiked, the world oil supply rose from 85.24 million barrels a day to 85.72 million. Over the same period, world oil demand dropped. Not only was the short-term supply of oil rising, the demand for it was falling — which, in classic economic terms, should have brought prices at the pump down.”
    It didn’t and the reason was commodity trading on Wall Street.

    Prices used to rise slowly and predictably from decade to decade for years, and there was a reason the market was so stable.

    From 1936 to 1991, there was a law that declared a difference between people who bought and sold real, tangible stuff like corn, soybeans, cattle or oil, and those who simply traded paper.

    Goldman Sachs asked the government in 1991, to remove that distinction for certain exceptions, and since then, speculation has been frantic, and driven by any number of reasons very few of them involving actual supply and demand.

    By the way, those exceptions were granted privately to Goldman without the knowledge of Congress.

    Commodities became a sort of bookie joint, and mutual funds, pension funds and others were in deep.

    And when the price hit the pavement like a melon, everyone was hurt.

    And so, here we go again. It isn’t supply and it isn’t demand. It’s gambling.

    And since the big investment houses give liberally to both parties, politicians will keep pointing fingers at each other.

  2. Michael Eden Says:

    Anonymous,

    It’s just FUNNY how liberals who were all, “Gas prices rose! Bush’s fault!” are now all circumspect and saying, “Gas prices rose due to many geopolitical and cyclical factors having very little to do with the president.”

    I’ve got a word that captures your essence magnificently: “hypocrite.”

    You want to blame Goldman Sachs? Then put this in your pipe and smoke it: Top contributors to Barack Obama in 2008 #2 on the list is your Goldman Sachs.

    And voilà, try this Washington Times headline on for size: “Wall Street prosecutions under Obama: Zilch

    You people spent eight years demonizing George Bush. It is long past time for you to hang on your own petard. And hang on it by the neck.

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