General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGasoline was only $1.79 a gallon when Bush left office
Recently I've been running across teabaggers on TV saying how cheap gas was when Bush left office, and look how it increased when Obama took over.
Remember this graph if and when you hear the same thing. I assume most recall that the big oil buddies of the Bush/Cheney junta crashed the price of gas to help McCain win the election, and then shot the price right back up into the stratosphere when Obama took office.
The rethugs must think Liberals have short memories or something.
shraby
(21,946 posts)NYC_SKP
(68,644 posts)shraby
(21,946 posts)CatholicEdHead
(9,740 posts)before the bottom fell out of the economy.
baldguy
(36,649 posts)Only a fool would really believe that precipitous drop in 2008 was happenstance.
customerserviceguy
(25,183 posts)And the bubble in oil speculation finally peaked, then burst. It seems reasonable that if there ever is an economic recovery that feels genuine to a majority of Americans, we'd be paying about five bucks a gallon, maybe more.
It might be a good time for me to go car shopping. Gas prices are still relatively low, the economy is still in the tank for many people, interest rates will never be this low again, and I just might pick up a good deal on a fuel efficient car that will be premium priced when gas tops four bucks a gallon. The old bucket of bolts is ten years old, and while that's not ancient in the Pacific Northwest where I bought it used in 2005, winter conditions here have really aged it fast.
theophilus
(3,750 posts)if they raise the gas prices every time we start to climb out.
customerserviceguy
(25,183 posts)But it was going to be punctured anyway. I do agree that fuel price increases will have a dampening effect on whatever recovery might emerge. Food prices will have that effect, too.
MidwestTransplant
(8,015 posts)n2doc
(47,953 posts)Wonder who was in office then?
liberal N proud
(60,335 posts)mike_c
(36,281 posts)...and I was right!
Pilotguy
(438 posts)From the WSJ - November 2011
"U.S. exports of gasoline, diesel and other oil-based fuels are soaring, putting the nation on track to be a net exporter of petroleum products in 2011 for the first time in 62 years.
A combination of booming demand from emerging markets and faltering domestic activity means the U.S. is exporting more fuel than it imports, upending the historical norm.
According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels.
That the U.S. is shipping out more fuel than it brings in is significant because the nation has for decades been a voracious energy consumer. It took in huge quantities of not only crude oil from the Middle East but also refined fuels from Europe, Latin America and elsewhere to help run its factories and cars."
http://online.wsj.com/article/SB10001424052970203441704577068670488306242.html
http://www.usatoday.com/money/industries/energy/story/2011-12-31/united-states-export/52298812/1?loc=interstitialskip
doc03
(35,340 posts)gas crashed because the economy crashed.
doc03
(35,340 posts)SUV or full size truck. This crap has been going on for over 30 years and the American people
stil haven't caught on.