I have heard that the President, no matter who it is, has no control over oil price and that it is a supply and demand issue.  Is this true?
202811
Total Cost of Tax Break: $76.5 billion from 2005-2014\n\nIn this provision, America’s largest energy companies—among the most profitable in the U.S. economy—would succeed in reclassifying energy production as a manufactured good in order to qualify for potentially tens of billions of dollars in new tax deductions. The manufacturing tax deduction has previously only been available to traditional manufacturing industries. The amount of the tax deduction is 3% of a company’s production income in 2005 and 2006; rising to 6% in 2007-2009, and 9% after 2009.\n\nThe total cost of this tax deduction, $76.5 billion from 2005-2014, includes the value of the tax deduction for energy companies and other industries, including movie studios, real estate developers and engineering and architectural services associated with real estate development. It is a safe assumption that energy companies—due to their size within the U.S. economy—will be the largest recipient.\n\nSince 2001, electric power, natural gas and oil corporations have contributed $73 million to federal candidates, with three-quarters of that total going to Republicans. Halliburton is the largest oil field services provider and provides services to Chevron. Bush Sr. was a director of Halliburton. Dick Cheney was Halliburton's CEO. Chevron is the #1 importer of Iraqi oil. Members of the Bush administration planned to oust Saddam and establish control in Iraq since long before the Iraq war. Bush started a war in Iraq. War brings profit to defense contractors. Bush Sr is a director of one of the world's largest defense contractors.    See the circle of greed and profit? These facts show there is a serious conflict of interest with the relationships between the Bush family, the Bush Administration, ChevronTexaco, Halliburton, the Carlyle Group and members of PNAC. The Bush family and friends have been profiting from war and will continue to profit greatly through continued services contracts in Iraq and the controlled flow of Iraqi oil.
641618
its no coincidence\n\neven if he is no longer in the oil industry...which I doubt...  I am sure he has his dirty little fingers in there somewhere...  he still has all his friends and cronies in the oil business that are making money hand over fist with these price increases.
256455
bacause BUSH OWNS THE OIL IN TEXAS...I think we should be looking at how much the gas "went up" over the world...I bet it hasn't and we are the only ones who are dealing with this...It is NOT the oil companies from iraq or overseas...it is from right here in the USA!!
250512
I am a liberal and have never used the "war for oil" argument. The argument I use is "war for riches". It made no difference who we attacked, as long as we attacked somebody. Halliburton is recording record profits, and Dick Cheney by extension. Bush's father is making a lot of money through the Carlyle Group, which owns United Defense Industries, United States Marine Repair, and EG&G Technical Services, all of which are turning heavy profits from this war.\n\nAs for the correlation between Bush and gas prices, I think his actions have a direct, although unintentional, effect of raising them. It's supply and demand. Before the war Iraq produced 3.5 million barrels of oil per day. Now they are producing 1.6 million. Oil prices spiked slightly when the administration talked about attacking Iran for the first time - fear speculation.\n\nThere are an equal number of sheeple on both sides of the aisle. Blindly following anyone is not patriotism, it's stupidity.
253120
Oil is so politicized these days that I'm sure that you will never be told or be readily allowed access to the real story but please keep trying.\n\nBy the way if you think about it, I mean really think about it, oil is too cheap.
249511
Yes vote for a president in 2008 that has no involvment at all in oil
101356
It's not just the "Right" addiction to oil. It's the whole country that needs it. Race, Creed Gender, or Religion really doesn't matter. Everyone depends on it. As far as the Gulf, the director of FEMA was the first to admit he had no clue what he was doing. Another Bush Blunder that cost yet more lives, and can't admit when he's wrong.
550486
YES it is all about oil. It will not change unless there is a revolution or Revelation. Our children will continue to DIE to support the "status quo" failed petroleum policy of GWB and Company.\n\nRead the White House energy policy signed by Dick Cheney. Not much about getting out of the Oil Economy here:\nhttp://www.whitehouse.gov/energy/summaries.pdf
212001
I'm tired as well.\n\nI'm even more tired of hearing its Bush's fault for the high prices, and then hearing how he is only in Iraq for the Oil.\n\n------------------\n\nalford, (below) give me a break, you can't really be that naive, can you?  The average profit on each gallon of gas is 9 cents.  The average tax on each gallon of gas is 50 cents.\n\nSupply vs. demand is what controls the gas prices.  Can you supply any evidence to your conspiracy theory that Bush is at the head of a table in a board room with all the oil executives plotting a master plan to raise gas prices?  Is he behind the high price of bottled water also?\n\nYou claim people dint know what they are talking about, while you make accusations without anything to back them up.\n\nBush wants to increase our oil supply (which lowers prices) by drilling in our own country, but your liberal hero's wont let him.\n\nBush wants to increase our means of refining oil (which would increase our oil supply) but your liberal hero's wont let him.\n\nYour a typical liberal, who has been brainwashed by the likes of Michael Moore, and Bill Mahr.  You obviously can't think for yourself.  If you could, you would be smart enough to look into the baseless allegations you make and realize they are ludicrous.
414906
Yes there has.  Due to the falling price of wholesale crude on the international commodities market, OPEC announced an intent to cut back production of crude.  Further, as we head into winter months, heating oils and diesel fuel (for shipping of goods) has a spike in consumption.\n\nWhat this means is the volatility of the crude, fuel, gasoline, and heating oil markets are directly effected by the speculators on the market itself.  What you are seeing is a market response to speculator manipulation of the price.  It has nothing to do with the elections, just brokers and individual investors trying to make a quick buck.\n\nThe best response to this would be a massive investment in the ability of the US market to refine a greater quantity of our imported crude, and to explore even greater quantities of crude from domestic sources.
640774
No matter who the president is we would have this problem.  The president is the commander and chief of the armed forces, Ben Bernaky (and formerly Alan Greenspan) is the Fed Chairman and they control the economy.  Our dollar issue stems from being off of the gold standard.  On top of that the trade deficiet that congress (not the president) is causing.
557045
Truthfully and without sarcasm: no. Plain and simple. The hike in gas isn't just because of us invading Iraq. More and more people are using gas: it's the law of supply and demand. If the demand for a product goes up and there's a little supply (there really isn't a small supply, but these countries have to supply the whole world) the price goes up. Plus, with us being in the Middle East, other huge oil producing countries like Iran--especially with the controversy over their nuclear weapons program--might sell less oil to us, thus lowering the supply with the high demand, increasing the price.  And as long as the American people can and will pay for the gas, they'll keep selling it.  Also, as a result of whatever sanctions or mandates are out there on some foreign oils, prices will go up.  Just because there are oil fields in Iraq, doesn't mean that we went in there for that. Why would we do that? If the gas prices were moderate while Saddam was in power, without this huge hike in prices, why would we go in there specifically for oil? What would you do if you suspected a foreign power was invading you to overthrow you, take your money from the oil away and put it in their pockets? You'd do the same thing Saddam was doing (sabotaging oil fields and the pipelines).  The only reason why the oil prices went up to begin with during the Invasion was because Saddam felt that he wasn't doing anything wrong (like the genocide, even building up his military) and that the only reason the Coalition (led by the U.S.) was invading his country was because of the oil. And when the oil prices get high enough, don't you think people will find different venues around them? Like more carpooling, public transportation, bicycles. I know when they get so high that it's really burning a whole in my pocket, I'm buying a train pass.
518390
You didn't say "Whos" price.\nI suspect you meant the consummer.  But, there's a lot of people and governments which try to get a piece of that dollar you spend on gas(oline?)\n\nThe prime culprits are taxes, commodities speculators, and other countries.\n\nSo the real answer is "whatever the market will bear".\n\nIt makes no difference that oil companies may keep their costs at are below inflation - outside factors are pushing the "price at the pump" to the point where the consumer rebels..\n\n"What I did like in the story is the soundbite (phone interview) they had with the CEO of Exxon, who was quick to point out that they (Exxon) make about 10 cents profit per gallon, while 'big government' (my words, not his) makes at least 4 times that per gallon.".....\n\n"The problem is that NO ONE ever mentions, like I have before, that these billions in profits is only about 8% of their total income. That is actually one of the lowest profit percentages of all industries."
218259
Our idiot president said it.  He also said, "America is addicted to oil."  I would like to counteract and say "no, oil companies are addicted to money."  The greedy idiot.
182946
absolutley nothing would happen...everyone would buy gas either the day before or the day after, a one day boycott woud do nothing. G.W. Bush does not set the prices for oil...if Americans would accept that OPEC sets the prices and not be afraid to drill in less than 1/10th of one percent of AnWar and in the gulf of mexico (hwere communist cuba already drills) and decreasing the dependancy on foreign supplies, andin the mean time pursue feasible alternate fuels can we do something about the "HIGH" prices of gas.
275167
There is NOT a supply shortage. Even OPEC and Saudi Arabia are saying there's no shortage. They are saying the gas prices should not be anywhere near as high as they are. What's raising the cost is that oil companies are gouging everyone because they basically have a collective monopoly, even though they're supposed to be in competition with each other. That's why oil companies keep scoring record profits each year while average Americans are getting poorer.
593245
I dont disagree with your theory.  I just want to add one of my own that helped push the prices up.\n\nA few years ago the oil futures went on the public trading market.  Yes.  The public, the entity as a whole that believed everything from the world is flat to Milli Vanilli can sing, is at the helm of the future prices of crude.  Can you imagine what happens when the public hears that there was a problem, of any magnitude, to a oil line or ship?  What happens when summer comes around and naturally the public again buys up all the oil futures in hopes to make a quick buck.\n\nGreed is what drives prices.  The greedy people that are making the money will call it marketing/economics.  No one entity is to blame for the results.  It would be too easy.  Just dont leave out anyone at fault.  Bush, Iraq, war, EPA, tax, and even the public are all together and individually at fault.