when bush took office gas was $1.26 a gallon.....oil was $19 a barrel........tomorrow oil hits $100 a barrel?

Question

will the right deny bushs middle east wars have any impact on oil prices?

Answer 1

Because democrats keep opposing attempts for the U.S. to drill its own oil. If we can't produce our own oil then we have no choice but to pay OPEC whatever they want for it.

Answer 2

Interesting question. I t makes me wonder why we were paying $1.26 a gallon for gas when the oil was only 19 dollars a barrel. If the oil companies can sell gas for $3 a gallon at $100 dollars a barrel then the margin of profit at $19 dollars a barrel is incredible.

Why didn't Clinton do something about it then, he could have taxed them a little more and spent that money on alternate fuels, then we wouldn't have this problem.

Answer 3

Yes, it is "Supply and Demand". The summer traveling season is over and demand is down, causing prices to go down. The winter heating season is coming up in a couple months, and demand will go up. This will cause the price to go up. And now there is a new report out that OPEC has informally agreed to cut production to bring oil prices up. This will be drop in supply, and you can bet this will cause the price to go up. It has nothing to do with the U.S. politicians. Please explain to us how the U.S. elections control the global price of oil? High profits? When did "profit" become a 4-letter word? Look at the profit margins. If the oil companies were artificially inflating the price of oil, their profit margins would be way up. As it turns out, while their profits have gone up, their profit margins have remained the same. To anyone with half a brain, this will tell you that their expenses have gone way up too. Name me one company that will want to keep the profits the same while spending more money? If they spend more to run the company, they want a return on the investment. Nothing wrong with that. And to say the Republican Party controls the price is bull. In MN, the Democrats passed a law in 2001 that says a gas station cannot sell gas BELOW a certain price, which is set daily by the state's commerce department. They say it is to protect the small independent companies from the "big box" companies, but then turn around and fine the small independents when they lower their price to bring in more business. Can you explain that? Sounds to me that the Democrats are the ones that are really controlling the price.

Answer 4

Don't believe people who say Bush has nothing to do with oil prices. The day after we invaded Iraq the price of oil really started to climb and hasn't gone done significantly since.

Answer 5

President= oil man
Vice President= oil man
Secretary of State worked for an oil company
Many others in this Administration were or are part of big oil.

Is it any wonder why prices for oil are high?

Answer 6

Bush doesn't have much to do with the increasing oil prices. Oil prices are rising due to India and china coming on line. They are buying oil from third world countries that we use. These countries use to be poor and would sell us oil for cheep. Now there is competition for the oil so we have to pay more.

Answer 7

That's the "great economy" that "Bush family member" was talking about in another question a few steps up the column.

Answer 8

And people still don't believe he is working for the Saudi Royal Family

Detective Story 101 follow the money

Answer 9

I remember gas being around 75¢ a gallon before the y2k fiasco that put dubya in office.

Answer 10

Put two big oil republicans in the white house and this is what happens!

Answer 11

So in 6 years your dollar is worth 80% less.