Barack Obama, Oil Prices and Reality

[canedriver]

Originally Posted by blowndodge

Even though Fox news was voted the most trusted news organization by an independent

I remember that. That article ends with the following.

These numbers suggest quite a shift in what Americans want from their news. A generation ago Walter Cronkite was the most trusted man in the country because of his neutrality. Now people trust Fox the most precisely because of its lack of neutrality. It says a lot about where journalism is headed.

[NRiderUSA]

Wow.... I hate it when people post one side.... here's my side from the lefts view:

In July 2009, Time magazine held an online poll entitled "Now that Walter Cronkite has passed on, who is America's most trusted newscaster?"[102] Jon Stewart won with 44% of the vote, 15 points ahead of Brian Williams in second place with 29%.[103]

Guess that shows where the news media is heading when the people dont know the difference between a comedy show and News......


And that still doesnt change the information regarding the oil situation and is totally irrelevant of the main information presented regarding it and who is influencing the current situation...... might even say creating and perpetuating it.

[ponch]

Originally Posted by glwilson

Tim's resource; the Oil & Gas Journal was a good resource for information that countered some of his own posting. Thanks Tim! Nice work.

I try to be open minded about the oil situation here in the U.S.; however I don't quite find the same information as you Tim. Maybe it is possible you stop at an article when it meets your expectations; rather than questioning its validity.

So... here are some tidbits from your resource magazine... I am not questioning the validity of the resource since you provided it.

http://www.ogj.com/articles/2012/03/...ne-prices.html

HOUSTON, Mar. 20
03/20/2012
By Steven Poruban
Oil & Gas Journal Senior Editor


Markets are largely driven by perception, Gerard said, and when Obama in his early days in office sent out the message to the market that oil and gas production from the Gulf of Mexico, for example, would be higher today than it was then, that is part of the reason we’re experiencing higher gasoline prices in the US.

To illustrate this point about clear market signals, Gerard recalled the example of when US gasoline prices were surpassing $4/gal during George W. Bush’s presidency, his administration lifted the moratorium on offshore drilling and in a matter of days, oil prices fell by $15-16/bbl.

A major component to relieving upward pressure on gasoline prices in the US will come from increasing domestic oil production and not from raising taxes, American Petroleum Institute Pres. and Chief Executive Officer Jack Gerard told reporters Mar. 20 during a conference call from Washington, DC.

Gerard said President Barack Obama’s administration needs a “reality check” as well as a revision to the unclear signals it is sending the market.

This is something that US voters understand as well, Gerard noted, citing statistics from a poll conducted earlier this month by Harris Interactive on behalf of API among 1,009 registered voters in the US.

American exports are not causing gasoline prices to rise. Less than 10 percent of U.S.-produced gasoline and diesel is exported. U.S. refiners produce fuels primarily for American markets and always have.

For some very basic explanations of what causes oil prices to fluctuate, and how the price breaks-down at the pump... check out the site the OGJ suggests: http://gaspricesexplained.org/

A friend of mine thing QE factored in, IE printing money. Do you think that has any weight?

[ponch]

Originally Posted by canedriver

I remember that. That article ends with the following.

These numbers suggest quite a shift in what Americans want from their news. A generation ago Walter Cronkite was the most trusted man in the country because of his neutrality. Now people trust Fox the most precisely because of its lack of neutrality. It says a lot about where journalism is headed.

No matter what political beliefs you have, one thing is clear: Fox News exists because of the vacuum created by a biased media. If we had neutral or more neutral journalists as we once did, Fox News wouldn't exist. So, if the media elite and other left commentators want to complain, they have themselves to blame.

[ponch]

Originally Posted by blowndodge

Even though Fox news was voted the most trusted news organization by an independent Tim won't accept it because he believes otherwise. Just like some of the OJ Simpson jurors, even if there was video tape of him killing his wife would still not believe it..

What about Ron Goldman?

[NRiderUSA]

Looks like the Captain is having a muntiny on his watch...

Western states want their land back to drill

Read more: http://times247.com/articles/western...#ixzz1qQ8o9sFe

[glwilson]

Originally Posted by ponch

A friend of mine thing QE factored in, IE printing money. Do you think that has any weight?

QE definitely is a factor. More money and liquidity in the economy can help to prop-up an economy. It also can (and most always does) cause price bubbles, as more money chases perceived opportunities. (More money can increase demand-use for a specific commodity as well.)

Commodity prices frequently have volatility based on the perceived future supply and demand outlook. Many factors are a part of this equation, to include government's control on production, taxation, and regulation of a commodity; as well as the tenor of their dialogue toward any of these issues. Thus, a negative dialoge, such as Obama has provided, influences the future outlook (negatively), which can result in higher prices despite any actual supply and demand data.

(It goes without saying other natural and man-made issues also provide factors to the equation.)

The futures market helps to maintain a more orderly market for all commodities... And is thus based on known and unknown data (or speculation that the supply/demand will be as one bids on futures contracts).

So, since the perceived outlook for a specific commodity is a determining factor of future prices, the fact that Obama has sent a clear message he is not in favor of increased production, or at least will remain a "ball and chain" on any optimistic outlook for "oil" in the U.S., bears heavy negative influence on the outlook of the future supply and demand.

A positive view and dialoge from the President could turn the speculative view from negative to positive, which would have a direct coorelation to the oil futures market being bid down - which translates to lower oil prices.

There is plenty of historical evidence indicating this to be the result of any such actions or dialogue emanating from a President, enough that most experts in the industry would resist embarrassing themselves to argue a different result.

[blowndodge]

Originally Posted by canedriver

I remember that. That article ends with the following.

These numbers suggest quite a shift in what Americans want from their news. A generation ago Walter Cronkite was the most trusted man in the country because of his neutrality. Now people trust Fox the most precisely because of its lack of neutrality. It says a lot about where journalism is headed.

[NRiderUSA]

You dont have to dig very far to show where Obama has influenced oil and intentionally....

Salazar and White House Manipulated Expert Recommendations to Justify Offshore Drilling Moratorium
http://www.habledash.com/index.php/c...news&Itemid=65

[NRiderUSA]

I guess it takes a subpeona to get information from anything in Obama's "Transparent" administration if it isnt something he wants to be "transparent" on.....its not just reserved for fats and furious facts...

House panel clears way for administration subpoenas on drilling, coal reg probes

Read more: http://www.foxnews.com/politics/2012...#ixzz1qSHMaHgX

[NRiderUSA]

Nice reading....
The Most Oil-Rich States
http://www.foxbusiness.com/industrie...l-rich-states/