Is anyone going to blame OBAMA for these wonderfully low gas prices this morning?

originally posted by: intrptr
a reply to: theySeeme

…these great gas prices which are a direct result of his deal with Iran…

Hardly. The Saudis are overproducing on purpose to drive down prices to hurt the economy of Russian and Iran, sort of a double edged sanction. Who's going to crumble first? Not the Saudis, they can outlast everyone.

When it comes to oil, Saudi Arabia has long been king. The desert monarchy sits on the world's largest proven reserves. Though its position as the world's top producer was eclipsed by the United States in the past year, it remains the world's top exporter. That's made it the fulcrum on which the oil markets have pivoted for decades, cutting or increasing production as needed to balance supply and demand.

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Krane said the Saudis are still pumping oil out of the ground at a cost of about $5 a barrel…

Vice Article

(emphasis added)

So according to your logic, Iran being able to sell 500,000 barrels of oil per day to the U.S which it has not been able to do since 1995 (21 years ago) "HARDLY" has an affect?



Can you explain to me why gas dropped an entire dollar in the span of 48 hours after the Iran deal, but hasn't dropped by a dollar margin in over 7 years?

Nothing to do with the President.
EVERYTHING to do with S.A. opening the taps to drive down prices to hurt Iran and drive American drillers in the U.S. out of business so the U.S. doesn't dominate the market with it's massive new resources.

originally posted by: IAMTAT
Nothing to do with the President.
EVERYTHING to do with S.A. opening the taps to drive down prices to hurt Iran and drive American drillers in the U.S. out of business so the U.S. doesn't dominate the market with it's massive new resources.

So how come prices dropped IMMEDIATELY after the Iran deal, and never before by such a large margin? Are you saying the 500,000 barrels per day that Iran hasn't been able to sell since 1995 won't have an effect on gas prices INSTANTLY?

Crazy talk.

a reply to: theySeeme

It is not selling all that directly to the United States, the production goes into the available world totals based on grade of crude.

a reply to: theySeeme

So you think we should pay more for gas so that big industry and corporations can live lavish, while us hard folks pay high gas prices?

No, not the big wigs, the oil field worker trying to feed his family. My oldest son is a driller in the oil fields and even with his expertise, he's had trouble finding work. We may be enjoying the low prices, but it hurts like Hell for the workers.

originally posted by: theySeeme

So how come prices dropped IMMEDIATELY after the Iran deal, and never before by such a large margin? Are you saying the 500,000 barrels per day that Iran hasn't been able to sell since 1995 won't have an effect on gas prices INSTANTLY?

Crazy talk.

The price of a barrel went down about $1.00 since Friday. Prices at the pump here in New Jersey have been under $2.00 per gallon for some time.

Looks more and more like Obama LLC has conspired with Iran inc. in an attempt to bankrupt the Western oil companies !!!

But people love the low gas prices !!!

originally posted by: AugustusMasonicus
a reply to: theySeeme

It is not selling all that directly to the United States, the production goes into the available world totals based on grade of crude.

And the world totals - along with exportation and importation costs, is what directly affects the price.

originally posted by: AugustusMasonicus

originally posted by: theySeeme

So how come prices dropped IMMEDIATELY after the Iran deal, and never before by such a large margin? Are you saying the 500,000 barrels per day that Iran hasn't been able to sell since 1995 won't have an effect on gas prices INSTANTLY?

Crazy talk.

The price of a barrel went down about $1.00 since Friday. Prices at the pump here in New Jersey have been under $2.00 per gallon for some time.

And the Iran deal was signed on friday.

Secondly, Jersey had one of the lowest national averages for gas prices for decades now, nothing new there.

originally posted by: DAVID64
a reply to: theySeeme

So you think we should pay more for gas so that big industry and corporations can live lavish, while us hard folks pay high gas prices?

No, not the big wigs, the oil field worker trying to feed his family. My oldest son is a driller in the oil fields and even with his expertise, he's had trouble finding work. We may be enjoying the low prices, but it hurts like Hell for the workers.

According to your logic, we should continue to wage war and stop down-sizing our military, because god forbid those soldiers can't find jobs. Best they are able to wage war and get paid, then not and be broke.

Strange times.

originally posted by: xuenchen
Looks more and more like Obama LLC has conspired with Iran inc. in an attempt to bankrupt the Western oil companies !!!

But people love the low gas prices !!!

I think this is exactly what Obama has just done, sadly it will go unnoticed. It seems he waited until the end of his Presidency to do it as well - may have been the safest way to ensure it's completion.

Thanks to Obama, ISIS looses a HUGE chunk of funding, the dollar is strengthened, the economy improves, the price of food drops - without straying away from the policies put in place since before he took office - which is to "prevent iran from getting a nuke".

I bet the republican and big corporation wigs who invest in oil are putting bounties on his head. He's just spit in the face of corporate greed, and I fcking love it.

originally posted by: theySeeme

And the Iran deal was signed on friday.

The drop since Friday has not been unprecedented and it will not be immediately reflected at the pump due to product purchased at higher prices still being in the refining and distribution channels.

Secondly, Jersey had one of the lowest national averages for gas prices for decades now, nothing new there.

It was close to $4.00 here when oil was at its peak, we were just as affected as everyone else.

a reply to: theySeeme

Which has not impacted prices at the pump and will not for some time.

I forsee war with Iran to offset the prices. The moneymakers around the world can't have this influx of cheap oil right? No matter the cost or the cause, if they lose billions of dollars and it keeps up on a downward trend...war is coming. Even if it's just to shut off the taps. Then the price will go back up and money will be made. It's either that or a complete destabilization of global economies and massive layoffs worldwide leading to a structural collapse of the markets and eventually the world.

Rinse, and repeat.

Maybe this will be the straw that breaks the camels back?

originally posted by: AugustusMasonicus

originally posted by: theySeeme

And the Iran deal was signed on friday.

The drop since Friday has not been unprecedented and it will not be immediately reflected at the pump due to product purchased at higher prices still being in the refining and distribution channels.

Secondly, Jersey had one of the lowest national averages for gas prices for decades now, nothing new there.

It was close to $.00 here when oil was at its peak, we were just as affected as everyone else.

That's complete non-sense. The product purchased at higher prices still being in the refining and distribution channels INSTANTLY looses it's value.

If you buy an ounce of gold for $1,000 - and a HUGE sum of gold ends up on the market over night, your ounce of gold is not going to be worth $1,000 anymore. And that value is changed INSTANTLY. This is the definition of market.

originally posted by: IAMTAT

Nothing to do with the President.

EVERYTHING to do with S.A. opening the taps to drive down prices to hurt Iran and drive American drillers in the U.S. out of business so the U.S. doesn't dominate the market with it's massive new resources.

global deflation is starting to grow beyond the banker's, manipulators' ability to control... no need for energy at unmanned factories

IF the front-man Hussein O. were a contributing factor in debased gas prices then the OP should explain how the Chief Executive's decisions to keep the North Slope oil & gas fields closed and suspend the Canadian-American pipeline (Keystone pipeline) from being built at all...It seems that he is doing everything possible to keep the fracking technology productive and tried to support higher fuel prices/costs

what a fluff contention,,,
I would Thank him to resign office because of mental problems

a reply to: theySeeme

Let me see if I am following your brilliant business understanding. A gas station franchisee is going to purchase refined product and then sell it at a loss because future refined prices may drop?


please open a gas station near me.

originally posted by: havok
I forsee war with Iran to offset the prices. The moneymakers around the world can't have this influx of cheap oil right? No matter the cost or the cause, if they lose billions of dollars and it keeps up on a downward trend...war is coming. Even if it's just to shut off the taps. Then the price will go back up and money will be made. It's either that or a complete destabilization of global economies and massive layoffs worldwide leading to a structural collapse of the markets and eventually the world.

Rinse, and repeat.

Maybe this will be the straw that breaks the camels back?

I think so - but still early to tell. One thing that points this direction is how fast this affect is spreading, did anyone look at the stock market today? Completely unbelievable, and main-stream media is silent on it.

The thing is that these corporations stock-piled so much money through oil-greed that they can wage covert warfare for many years to come - most certainly on Iran next. Only a matter of time before Iran turns into another Syria, or virtually any country in Africa/Middle east (strangely enough areas that the west considers less human..)

a reply to: theySeeme

Can you explain to me why gas dropped an entire dollar in the span of 48 hours after the Iran deal, but hasn't dropped by a dollar margin in over 7 years?

The drop in price of a barrel of oil is because of the Sauds, not Iran.

Nice twist, 'blaming Iran and Obama' for driving down oil prices.

a reply to: IAMTAT

Absolutely right Saudi dropped the price to destroy competition from American frackers - companies which incidentally employ Americans. Obama has nothing to do with this and seems to have done little to stop it.

Its been done to destroy American business which employ Americans. Once these businesses and all other competition has been destroyed you watch what the Saudis will do to the price of oil.

Our saving grace is actually Iran which will help to keep the cost of oil competitive. Someone has great timing.