Okay, I need ammo. Can somebody give me a few reasons

[kiraboo]

why I should blame Bush for the skyrocketing oil prices? I really, really want to, but my understanding of the industry is very limited. How much control does he really have?

[kiraboo]

1. PLEASE don't tell me there aren't any! n/t

[mcctatas]

2. I can think of 2 very good reasons...

1st of all, he has done nothing to support research into alternative fuel sources, his new energy package gives larger tax breaks to people with huge SUV's than those with hybrids, and the petroleum industry is a huge benificary of the new energy policy.
Also, his tax cuts for the wealthy and irresponsible fiscal policies in a time of war have done nothing to make Americans feel like they need to sacrifice anything, conserve fuel etc.

*also, maybe he stopped putting out for the Saudis and they're feeling hurt :rofl:

[Liberty Belle]

3. Attacking Iraq, disrupting oil supplies(remember those burning pipelines?)

More reasons:

Failing to invest in alternative/renewable energy supplies to reduce our dependence on foreign oil

Squelching a report on how fuel efficiency in US cars has gone DOWN, not UP

Kissing up to his friends, the Saudis (remember that cutesy pic of Bush holding hands with a Saudi prince?)

Plus remember, Bush comes from a family in the oil biz

[kiraboo]

6. Oh, I remember! And thanks for the responses. I feel sufficiently armed!

[EST]

4. His continued support for criminal policies as regards

Venezuela have driven them into the arms of China. The organized crime approach to plucking Sadaam has destroyed oil commodities from that quarter.
His cockerel approach to Iran has forced them to creating atomic bombs as a defense against American invasion (you attack me, I destroy Israel.) No possibility of deals with them. Russia is totally pissed at us for trying to horn in on their bailiwik, upping the ante there. The immunity granted to big corporations, especially oil, emboldens them to rip off everyone with impunity.

[Pepperbelly]

5. I think the asshole is still filling the strategic reserve and ...

the new energy bill expanded it even more. When the government is diverting millions of barrels of oil, it drives up the prices. Besides that, if you look at the profits of the oil companies, you will see that they are not merely passing along a cost to the consumer, they are raping us. The proof is quite simple ... given a static or even a slightly growing demand, the profits of the oil companies should, if they are merely passing along the cost, remain static or maybe grow a bit.

But that isn't what is happening. Rather, what we see are profits exploding. Each of the oil giants are cash drunk from their price fixing and collusion. If Bush had any indtention at all of helping the situation, he would order a Justice Department investigation into possible price fixing and gouging. Bill Clinton did that when this happened in 99 and the price dropped like a rock. He also released some of the strategic reserves which helped drive it down even farther.

[kiraboo]

7. When I bring this up I am told that these profits are just the result

of market fluctuations... capitalism in action IOW. It's very hard to get people to believe otherwise.

[Pepperbelly]

10. but that is neither logical nor in accordance with ...

the facts, the history, or economic theory IN PRACTICE. Market fluctuations are what we're talking about but if the predicate is that gas is so expensive because the pbbl price is so high, then the profit margins should have remained basically the same. But they did not. That is indicative of gouging.

That and price fixing are unlawful. Of course, Ken Lay is still walking around after Martha Stewart has already done her time. Funny world, ain't it?

[kiraboo]

11. Yeah, Pepperbelly. A barrel full of laughs. Sigh. n/t

[EST]

9. Yeah-remember the windfall profits taxes and penalties

at the end of the '70s for the oil company ripoffs of that oil shortage. Not a chance of that happening now.
I sadly fear, with the USA having been delivered firmly into the hands of organized crime, the only solution is going to be armed uprisings and revolution.

[Sgent]

14. That law was a disaster

caused major oil shortages.

[Richard Steele]

8. Oil prices are low when the world is at peace and stable.

Singlehandedly deciding to start WWIII in the heart of the Middle East
equals HIGHEST OIL PRICES EVER !

Quite simple, really.

[Lasher]

12. Here's a grenade

In 2000, Bush claimed he knew how to handle OPEC. He said President Clinton had to "jawbone" OPEC members. "What I think the president ought to do is he ought to get on the phone with the OPEC cartel and say we expect you to open your spigots. One reason why the price is so high is because the price of crude oil has been driven up. OPEC has gotten its supply act together, and it's driving the price, like it did in the past. And the president of the United States must jawbone OPEC members to lower the prices," he said.

Gas was around $1.50 a gallon at the time.

[Make7]

15. Beat me to it! ( n/t )

[Lasher]

16. I wuz quick on da draw

I keep that one handy. Shows Dubya to be all hat and no cattle. It also exposes him as the hypocrite he is.

[Pepperbelly]

17. When Clinton left office, I was paying $1.15. nt

[kiraboo]

18. Thank You! It'll help to win arguments and make the shrub

look like the limp member he is. (No offense to any limp members present!)

[Sgent]

13. The major thing * has done

is the ill timed and ill considered invasion of Iraq.

By doing this, the insurgents have shown the world that oil supplies are subject to easy disruption via insurrgency. Its not only current oil, but fear of similar happening in Kuwait and (gulp) Saudi.

In addition, due to his deployments, he has neglected the oil coast of Africa which has been causing major issues.

His failure in diplomacy with Venezula and Mexico leaves the US much more open to sabatoge or stoppage by those countries.

After he took over in 2001, he decided to raise the strategic petroleum reserve from 100 million to 1 billion barrels of oil -- and do it at a rate of 1.5million barrels/day -- about an extra 7.5% of the US daily usage. In all honesty, I kinda do agree with this move.

Alternative fuels/technology would be nice -- but they would have no effect on the price of oil today. There is a reasonable questin if they ever will -- as gas becomes more scarce, price increases, and alternative fuels become more popular. The price of gas itself may never decrease, just become increasingly expensive.

Finally, gas demand is relatively inelastic, its use isn't cut/increased at an equal proportion to its price -- so a 1% decrease in supply could cause prices to go up 10%.