Obama hostility towards drilling continues to hurt America

Discussion in 'Economics' started by Covertibility, Mar 7, 2013.

  1. so says the republican mind and yet:


    3...2..1...and here comes the "Blame the Fed" crowd...

    <IMG SRC=http://research.stlouisfed.org/fred2/graph/fredgraph.png?&id=DCOILWTICO&scale=Left&range=Custom&cosd=2007-01-01&coed=2013-03-04&line_color=%230000ff&link_values=false&line_style=Solid&mark_type=NONE&mw=4&lw=1&ost=-99999&oet=99999&mma=0&fml=a&fq=Daily&fam=avg&fgst=lin&transformation=lin&vintage_date=2013-03-07&revision_date=2013-03-07>

    Since the economic recovery of 2009, not only in the US but for much of the world, crude has basically gone sideways despite all the QE's in the US and abroad.

  2. Damn this time limit on editing posts. Missing a line:

    If we can't blame Obama for high oil prices then,
    3...2...1...and here comes the "Blame the Fed" crowd...
  3. I don't get it. So what if we catch up to SA in production. So what if we become an oil exporter.

    Net net we only care about the price of a gallon of gas.

    SA gas is less than a dollar a gallon and in the US gas is 4 bucks.

    Obama and the Fed deserve the blame.
  4. piezoe


    Saudi Arabia spends between 10 and 15 billion a year to subsidize gas prices. That's about $472/ per person. In the U.S. that would be $142 billion give or take a few billion. Is THAT what you want?