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'Stupid' and Oil Prices

Wall Street Journal (Op) -- 'The American people aren't stupid," thundered President Obama yesterday in Miami, ridiculing Republicans who are blaming him for rising gasoline prices. Let's hope he's right, because not even Forrest Gump could believe the logic of what Mr. Obama is trying to sell.

To wit, that a) gasoline prices are beyond his control, but b) to the extent oil and gas production is rising in America, his energy policies deserve all the credit, and c) higher prices are one more reason to raise taxes on oil and gas drillers while handing even more subsidies to his friends in green energy. Where to begin?

It's true enough that oil prices can't be commanded from the Oval Office, so in that sense Mr. Obama's disavowal of blame is a rare show of humility in the face of market forces. Would that he ...

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Submitted Feb 24, 2012 By: CosmicP

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ToolinIt Champion Author Colorado Posts:1,803 Points:888,945 Joined:May 2010	Message Posted: Feb 28, 2012 10:32:58 PM Ignore ToolinIt Report Abuse Why has this old article resurfaced again?! It doesn't meet guidelines.
1006 Champion Author Birmingham Posts:1,105 Points:1,357,065 Joined:Apr 2008	Message Posted: Feb 28, 2012 10:08:17 PM Ignore 1006 Report Abuse can it go any further
1006 Champion Author Birmingham Posts:1,105 Points:1,357,065 Joined:Apr 2008	Message Posted: Feb 28, 2012 7:55:40 AM Ignore 1006 Report Abuse these comments are pathetic
mpg611 Champion Author Cleveland Posts:2,347 Points:571,960 Joined:Apr 2011	Message Posted: Feb 25, 2012 1:20:03 AM Ignore mpg611 Report Abuse Anyone who votes for a politician based on religion and other pointless social issues is stupid.
OmieCA Veteran Author California Posts:253 Points:130,935 Joined:May 2011	Message Posted: Feb 25, 2012 1:14:37 AM Ignore OmieCA Report Abuse "Lise, is like a box of chocolates... Don't eat it all in one sitting!"
jrsva Champion Author Virginia Posts:9,866 Points:1,615,135 Joined:Jan 2006	Message Posted: Feb 25, 2012 1:03:11 AM Ignore jrsva Report Abuse This is an opinion column from the Op-Ed pages of the WSJ. It is not a news article and does not belong in Newsville.
singlemom27 Champion Author Ventura Posts:3,123 Points:642,135 Joined:Apr 2011	Message Posted: Feb 25, 2012 1:01:58 AM Ignore singlemom27 Report Abuse Congress could reduce our pain at the pump by making speculation illegal.
aggietim Champion Author Fort Worth Posts:1,756 Points:694,825 Joined:Oct 2008	Message Posted: Feb 25, 2012 1:01:32 AM Ignore aggietim Report Abuse yeah
kgbellman Champion Author Ann Arbor Posts:2,728 Points:734,765 Joined:Mar 2011	Message Posted: Feb 25, 2012 1:00:57 AM Ignore kgbellman Report Abuse Interesting
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Feb 25, 2012 1:00:02 AM Ignore sammy518 Report Abuse ok
bif65 Champion Author Virginia Posts:1,023 Points:195,880 Joined:Jan 2011	Message Posted: Feb 25, 2012 12:59:53 AM Ignore bif65 Report Abuse ok
jem069 Champion Author Detroit Posts:2,553 Points:690,005 Joined:Jan 2011	Message Posted: Feb 25, 2012 12:59:53 AM Ignore jem069 Report Abuse ok
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,935 Joined:Dec 2010	Message Posted: Feb 25, 2012 12:59:47 AM Ignore PoohMcGoo Report Abuse He'll be blamed as long as he's president, just like all the others have been blamed..
FastAndy Champion Author Indianapolis Posts:4,496 Points:1,988,000 Joined:Jun 2007	Message Posted: Feb 25, 2012 12:59:44 AM Ignore FastAndy Report Abuse He is just running for re-election now, he is not going to take the blame for anything now.
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Feb 25, 2012 12:59:42 AM Ignore bonzoonfmb Report Abuse The only thing I blame Obama for is wasting tax dollars on green programs.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 25, 2012 12:59:41 AM Ignore tippybuddy Report Abuse no one seems to be able to control prices except the people on the stock market...with all their money their killing the commom person
Throroughbred Champion Author Cleveland Posts:1,031 Points:1,210,770 Joined:Jun 2007	Message Posted: Feb 25, 2012 12:59:25 AM Ignore Throroughbred Report Abuse Don't believe everything you read or hear. Do some research like if government policies were different in regards to the future it would have a great impact on gas prices. Pricing has been about futures for some time. [Edited by: Throroughbred at 2/25/2012 12:04:51 AM EST]
Wierbe Champion Author Cincinnati Posts:3,767 Points:1,121,290 Joined:Apr 2006	Message Posted: Feb 25, 2012 12:59:09 AM Ignore Wierbe Report Abuse No matter what the economics, both parties want all the credit and none of the blame. It must be an election year.
Dodge_Me Champion Author Atlanta Posts:2,214 Points:558,480 Joined:Mar 2006	Message Posted: Feb 25, 2012 12:57:50 AM Ignore Dodge_Me Report Abuse Hmm
Rooster922 Champion Author Wilmington Posts:3,803 Points:658,995 Joined:Jan 2009	Message Posted: Feb 25, 2012 12:55:55 AM Ignore Rooster922 Report Abuse Mr. President, you or who ever promise to lower gas prices to be elected is Baloney only geared to less educated no nothing individual to believed.
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Feb 25, 2012 12:55:49 AM Ignore melvindale Report Abuse I hate when the republican party puts its opinion out masquerading as news. I also hate that most people posting to GasBuddy.com are clearly republicans who think this is a republican blog site. I noticed that the supposed article never mentioned futures trading when discussing gas prices. You can't give a balanced report without mentioning the effect of traders on fuel prices. It is the biggest single component. It is why prices are always higher than the market forces predict. This is true of any commodity where there is a futures market.
chvytruk All-Star Author Kentucky Posts:771 Points:377,810 Joined:Sep 2006	Message Posted: Feb 25, 2012 12:55:29 AM Ignore chvytruk Report Abuse Obama, peace be upon his skinny pathetic arse, intends every bit of this - only by accident is anything to benefit us until he completes transforming this country. And we owe no small amount of thanks to the SAGOP -Spineless Asses of the GOP.
hcivic Champion Author Virginia Posts:3,864 Points:2,267,665 Joined:Aug 2005	Message Posted: Feb 25, 2012 12:49:28 AM Ignore hcivic Report Abuse he cant control the markets!
g747 Champion Author Mobile Posts:4,551 Points:935,620 Joined:Jul 2009	Message Posted: Feb 25, 2012 12:49:08 AM Ignore g747 Report Abuse Put pressure on the markets to make it cheaper;dispite global turmoil.
kgbellman Champion Author Ann Arbor Posts:2,728 Points:734,765 Joined:Mar 2011	Message Posted: Feb 25, 2012 12:48:56 AM Ignore kgbellman Report Abuse Interesting
MotoDad Champion Author Phoenix Posts:1,106 Points:813,065 Joined:Sep 2006	Message Posted: Feb 25, 2012 12:42:09 AM Ignore MotoDad Report Abuse He sure hasn't fixed the economy!
Sundarakhemesi Sophomore Author Montreal Posts:227 Points:97,845 Joined:Feb 2012	Message Posted: Feb 25, 2012 12:41:21 AM Ignore Sundarakhemesi Report Abuse It's true
fenster66 Champion Author Pittsburgh Posts:3,360 Points:676,040 Joined:May 2011	Message Posted: Feb 25, 2012 12:39:53 AM Ignore fenster66 Report Abuse I've heard enough...
skybiker Champion Author South Carolina Posts:7,313 Points:1,562,440 Joined:Jul 2008	Message Posted: Feb 25, 2012 12:36:43 AM Ignore skybiker Report Abuse Maybe, But you can release leases and allow the pipeline and drilling in ANWR.....
eswi Champion Author Madison Posts:2,555 Points:686,080 Joined:Mar 2009	Message Posted: Feb 25, 2012 12:34:24 AM Ignore eswi Report Abuse OK
us4usa Champion Author Missouri Posts:6,003 Points:1,115,215 Joined:May 2008	Message Posted: Feb 25, 2012 12:33:53 AM Ignore us4usa Report Abuse "Mr. Obama has also spent three years blaming George W. Bush for every economic ill. If Mr. Obama now feels frustrated by economic events beyond his control, perhaps he should call Mr. Bush for consolation."Blaming never fixed anything... [Edited by: us4usa at 2/24/2012 11:35:41 PM EST]
wwardyota Champion Author Honolulu Posts:1,451 Points:795,210 Joined:May 2008	Message Posted: Feb 25, 2012 12:33:03 AM Ignore wwardyota Report Abuse me, me, me, mee-eeee....
ratones1 Champion Author Los Angeles Posts:2,922 Points:734,680 Joined:Mar 2011	Message Posted: Feb 25, 2012 12:28:44 AM Ignore ratones1 Report Abuse politics...
HDFXR1991 Veteran Author Wisconsin Posts:469 Points:141,030 Joined:Sep 2008	Message Posted: Feb 25, 2012 12:27:26 AM Ignore HDFXR1991 Report Abuse Hang on this new ride aint even started!
krieg2012 Rookie Author Arkansas Posts:2 Points:415 Joined:Feb 2012	Message Posted: Feb 25, 2012 12:22:02 AM Ignore krieg2012 Report Abuse And drilling should begin in Alaska immediately along with more offshore.
redrockon Champion Author Ontario Posts:10,570 Points:1,520,385 Joined:Jul 2007	Message Posted: Feb 25, 2012 12:19:21 AM Ignore redrockon Report Abuse refineries are closing, bringing gas prices up. Obama should make it a policy to keep or build refineries to keep the gas flowing. Pipelines from Canada should be built to keep from importing dirty Persion gulf oil.
The_DR Champion Author New Jersey Posts:2,795 Points:587,015 Joined:Aug 2011	Message Posted: Feb 25, 2012 12:17:43 AM Ignore The_DR Report Abuse Stupid is as Stupid Does.
Rt118E Champion Author Pennsylvania Posts:9,503 Points:1,371,195 Joined:Jun 2009	Message Posted: Feb 25, 2012 12:13:43 AM Ignore Rt118E Report Abuse This high prices are & will hurt everyone. We need leadership not fighting!
krieg2012 Rookie Author Arkansas Posts:2 Points:415 Joined:Feb 2012	Message Posted: Feb 25, 2012 12:12:53 AM Ignore krieg2012 Report Abuse Every President for the past 50 years has said (in their campaign speeches) that we must reduce our dependence on foreign oil. All have lied in order to get elected. They could do something about it if they would simply open up domestic oil production - they will not because the big money for campaigns comes from those associated with oil companies and the oil lobbyists. Why on earth do we keep electing these liars, these crooks and these idiots who only think of themselves and who want to boost their own egos by gaining some public office where they think of themselves as gods and where so many look at them as "something special". There is not a one of them who has had to work for a living. Obama is bankrupting this country and the Republicans cannot come up with a decent candidate. I would even take Hillary back in the White House and even as President. She and Bill did a great job. If they can't get back in then I say dump anyone who has held public office ... THROW THE BUMS OUT!
zonkthegreat Champion Author San Diego Posts:2,642 Points:275,175 Joined:Jun 2011	Message Posted: Feb 25, 2012 12:08:46 AM Ignore zonkthegreat Report Abuse Big oil is laughing all the way to the stockholders on this one. Point the finger at everyone but the right party. GREED IS GOOD! To bad most of you here can't see the trees thourgh the smoke and mirors.
hubhunts Veteran Author Alabama Posts:371 Points:79,770 Joined:Jun 2008	Message Posted: Feb 25, 2012 12:07:10 AM Ignore hubhunts Report Abuse That proves he is not American.We are not stupid.He is and needs to go back to his country and faith.
Lukus Champion Author Halifax Posts:8,299 Points:1,677,455 Joined:Nov 2007	Message Posted: Feb 25, 2012 12:04:08 AM Ignore Lukus Report Abuse Oil prices are being controlled by the spectulators. We are paying almost as much now as when oil was at $140 not the $108 it is now.
LQQKGAS Champion Author Phoenix Posts:2,673 Points:1,197,845 Joined:Oct 2009	Message Posted: Feb 25, 2012 12:03:36 AM Ignore LQQKGAS Report Abuse Stupid and oil prices in the same sentence is an oxy-moran. kind'a like: Jumbo shrimp and, Gay marriage.
FuelOilOH Champion Author Cleveland Posts:2,837 Points:1,180,220 Joined:Oct 2007	Message Posted: Feb 24, 2012 11:57:35 PM Ignore FuelOilOH Report Abuse If you take into account the political misgivings which have lead us to this point, one can rightly blame our child prodigy President. We can and must do better in November just to repeal the huge debacle dubbed ObamaCare.
carman11 Champion Author North Carolina Posts:3,353 Points:694,650 Joined:Jun 2011	Message Posted: Feb 24, 2012 11:52:52 PM Ignore carman11 Report Abuse ALL OF YOU ARE RIGHT ON!!!!
pgerassi Champion Author Milwaukee Posts:10,911 Points:2,134,530 Joined:Apr 2007	Message Posted: Feb 24, 2012 11:52:45 PM Ignore pgerassi Report Abuse WS is the one to blame for the high prices. Their CIFs boost the price of commodities while providing no offsetting benefit at all.
mrbee Champion Author Little Rock Posts:3,769 Points:2,468,605 Joined:Oct 2005	Message Posted: Feb 24, 2012 11:48:27 PM Ignore mrbee Report Abuse What a mess!
suzmar Champion Author Texas Posts:2,213 Points:874,085 Joined:Jun 2006	Message Posted: Feb 24, 2012 11:46:21 PM Ignore suzmar Report Abuse This article makes a lot of sense, Mr. Obama's middle east policy is a shambles, and under is watch the dollar has plummeted. Oil is denominated in dollars, thus making oil much more expensive for the U.S. He also vetoes Keystone XL and greatly reduced drilling permits in the Gulf.
DavoIL All-Star Author Chicago Posts:806 Points:941,055 Joined:May 2009	Message Posted: Feb 24, 2012 11:45:44 PM Ignore DavoIL Report Abuse article is blatantly shortsighted with many flaws
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: Feb 24, 2012 11:45:34 PM Ignore fuelsaverMN Report Abuse AND WE SHOULD NOT SELL OUR GAS TO CHINA,OR ANY OTHER NATION AS THAT DRIVES UP OUR GAS PRICES.AND WE HAVE SO MUCH OIL HERE IN THE USA WE DON'T NEED ANYONE ELSES OIL FOR OUR CARS.