why is gas so cheap?

[BridgeTroll]

And a very good thought... much more thoughtful and correct than..."Bush did it"

[gatorback]

Ha ha.  Let's take a closer albeit funner look at....

When President Bush took office on January 20, 2001, the national average gas price was $1.46 per gallon. Almost 8 years later, the national average gas price has jumped to $2.02 roughly 36% higher. Compounded annually, this represents about a 4.5% jump each year Bush has been in office.

Now, let’s compare the numbers over the same time period for President Clinton.

When Clinton took office on January 20, 1993, the national average gas price was $1.06 per gallon. Eight years later, the national average gas price had jumped to $1.46, roughly 37% higher. Compounded annually, this represents about a 4.6% jump each year.


While these numbers are pretty close, I’m of the belief that you’d have to be pretty nuts to think Bush would have the ability to do this. 

[RiversideGator]

Whatever. This goes far beyond such agreements. BP, Exxon Mobil, Shell have reportedly secured rights of first refusal on 30-year production contracts in Iraq's vast oil reserves.  What this means, we found out, the Iraq war is largely about oil.  Now that we own these oil reserves there's less speculation and with less speculation there is the drop in prices.

Source?

[RiversideGator]

BTW, the higher prices also encouraged additional drilling which then resulted in larger supplies.  More supply and less demand combined with an increase in the value of the dollar equals lower oil prices.

[Coolyfett]

Maybe its just old fashoined economics at play here. Less demand=cheaper price?? just a thought.

It funny people say that, but I still see the same amount of cars and traffic I always seen. Now all of a sudden in Oct 2008 there is less demand? Where was this less demand in Sept, Aug, July & June. And don't take this at a shot at you FSUJAX..your a cool poster, its just that can't be what is going on.

I don't remember even complaining about gas prices until 2006. 2001, 2002, 2003, 2004 & 2005 I would fill up the tank without a thought. Then it got to the point where you were debating how long you ride with the gas light on. Something else is going on, and its not the supply & demand thing. Definitely not the case for a city like Jacksonville.

[gatorback]

Alan Greenspan, said the war is largely about oil.  It surely was about wmd.

[MattnJax]

Could you guys imagine if George W. Screwup .... errrr I mean Bush, hadn't stole the election from Gore in 2000? As we all know Bush is a texas oilman, so what the hell does he care about finding or funding alternative energy sources? Whereas Gore is a staunch environmentalist and avid supporter of alternative energy. I think that if he was elected we would be far along on the path of getting off our dependence on oil, and we sure as hell wouldn't have invaded Iraq for no reason. Just a thought for everyone.

[Clem1029]

Could you guys imagine if George W. Screwup .... errrr I mean Bush, hadn't stole the election from Gore in 2000? As we all know Bush is a texas oilman, so what the hell does he care about finding or funding alternative energy sources? Whereas Gore is a staunch environmentalist and avid supporter of alternative energy. I think that if he was elected we would be far along on the path of getting off our dependence on oil, and we sure as hell wouldn't have invaded Iraq for no reason. Just a thought for everyone.

"Imagine" isn't the right word - "nightmare" is more like it...we'd have had $4.00 gas right after 9/11, rather than years later, the economy would have tanked FAR sooner. Talk about biting the bullet and having Bush stop Gore from changing the rules in the middle of the game and preventing an election from being stolen outright.

[Bostech]

[I-10east]

^^^LOL7X!!!!!!!!

[alta]

I'm all for alternative fuels and conservation.  Anything to keep us from buying from our enemies.  Al Gore is a typical politician.  In 2007 the average household used 10,656 kilowatt hours per year.  Al Gore used 221,000. lmao  He seems really concerned about the environment.  Where are the pictures of his energy consuming mansion or private jet he uses to fly to global warming conventions???

[alta]

Bostech.  Die Burger is a South African newspaper.  Is that picture from the snow swept oil fields of Iraq?

[MattnJax]

I'm all for alternative fuels and conservation.  Anything to keep us from buying from our enemies.  Al Gore is a typical politician.  In 2007 the average household used 10,656 kilowatt hours per year.  Al Gore used 221,000. lmao  He seems really concerned about the environment.  Where are the pictures of his energy consuming mansion or private jet he uses to fly to global warming conventions???

Typical misleading comment from another repug. Here's what your not telling: "The former vice president's home has 20 rooms, including home offices for himself and his wife, as well as a guest house and special security measures."  -Wikipedia

So who knows how the Gores live. Perhaps they have this big ass house cause they work from home and have large offices full of electrical equipment. Perhaps they entertain other politicians and high-ranking officials. I'm sure you do all that stuff when your the ex-vice president, a presidential nominee, oscar winner, and a leading environmentalist. Perhaps their home has sercurity measures out the ying yang to protect them. I don't know. I'm not the Gores. I'm just making an educated guess instead of spewing crap you hear from right-wing propaganda. I mean what do you expect the man to do? Live in a shack where he bearly uses any energy. Give me a break.

[gatorback]

His house is pretty efficient.  I remember him saying that there are much smaller homes that use far more energy then his home.  Besides, this is America.  If you earn a crib like that and want it who business is it to say?

[alta]

Why would being the ex vice president justify an electric bill 10x the national average??? He installed solar panels after all the scrutiny he received about his high electric bills which now makes it efficient.  Look it up online.  Misleading comment?  Please tell me how it is misleading.  I'm not a repug.  I ride my bike to work, recycle, drive a small car.  Al Gore shouldn't be the poster child for the enviromental movement.  Ed Begley is a good example of someone who lives what he preaches.