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Subscribe to RSSDespite rising crude oil prices and threats to stability in the Middle East, the price of gas is unlikely to reach a national average as high as $5 per gallon in the near term, ExxonMobil’s Chief Executive Rex Tillerson told TODAY’s Matt Lauer Friday.
“As I look at just the supply and demand fundamentals, I would not expect prices to reach that level,” Tillerson told TODAY.
“Again, the unknown in here is the market’s view of the political risk; if the rhetoric gets more heated, if a problem flares up anywhere else in the world, then certainly it could drive these prices up further,” he said.
With the busy summer driving period approaching, many observers are fearful that the price for a gallon of gas, which AAA says is now $3.76 on average across the U.S., could move up to the dreaded $5 mark and derail the economic recovery.
Ongoing conflict in Syria, political tensions between Iran and the West and rising demand for oil from emerging economies such as China are also threatening to push up gas prices.
One source of tension in the Middle East has been concerns over Iran’s nuclear program, which Israel sees as a threat to its existence. If Israel were to attack Iran’s nuclear facilities the impact on gas prices would be “fairly immediate and highly volatile,” Tillerson said.
“It would be largely driven too by what the response was, and whether that resulted in an actual physical disruption of oil to the market.”
Faced with trade embargoes and the possibility of an attack, Iran has threatened to close the Strait of Hormuz -- a strategic shipping channel through which a majority of the Middle East’s oil-producing countries supply the world’s economies with crude oil.
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The sooner it hits $5 a gallon, the sooner we have a new President. Thank goodness for my Chevy Volt.
Ha. Good one. Like any president can change gas prices. They will tell you they can. But they are LYING!
Thank goodness for my bicycle :D
But in all seriousness. We need to stop the speculation on the global oil market. Producing more here at home won't help, as it is a proverbial 'drop in the bucket' and will not significantly affect the global price of oil. A POTUS really isn't responsible (whether it be Bush or Obama) for the price on the global market.
Or we could take this opportunity to begin transitioning off of fossil fuels.
Speculation is a part of the rise in oil prices. Also contributing is greater demand and flat to declining production.
I also heard someone say we are exporting a lot of refined gasoline due in part to a weaker dollar.
Oil price has NOTHING to do with supply and demand, it is all about speculation. The world needs about 80 million barrels per day right now and oil trades about 10 times that every day in the market, along the way every trader want's to make money on it. If we stop all margin trading on commodities and make sure that a trader must take possession first before selling back into the market than we can see prices go down by half within the first day, otherwise we are stuck here with higher prices regardless of supply and demand.
the president as nothing to do with gas prices the price of barrel of oil is international set price, what happens in the middle east, europe, ect... effects the price of gas here and what happens here effects the price of gas over there, we can open all oil wells here but it will take at least a decade before its online even after that the price of gas will drop around 3 cents
Please.
The President is mostly a figure head. Govt is run by our "Reps" who are run by Big Business and foreign bankers.
Yeah... It won't go to $5.00, but it will hit $4.999. What a B-Tard.
I've heard many people say the same thing Alan, I just don't know if there's truth to this or not.
And an oil company subsidized president would have allowed the Volt to roll out?
Why would MSNBC have an oil company executive in their studio? Those are absolutely the most evil men on the planet. They ruin entire oceans and countries, lie on availability to gouge. They're not businessmen, they're satanicmen.
i would like to know why gas buddy for the last 6 years show gas prices were at a all time high of $4.12 in July of 2008. In a period of 5 months gas price dropped to 1.61 of December 2008. I think we are getting hustled, what happen during those 5 months that made the price so low?
Obama being responsible for the price of gas is like Obama being responsible for the G3 magnetic storm we are currently under.
Of course Exxon doesn't want it going to $5/gallon, that means Americans will turn more towards green energy which what they don't want. Besides the Saudi's have already stepped up production to bring the prices down.
Eric-913730........ he is!
Viet Vet. I agree with your statement about needing a new president but also want to let you know that I am waiting for 1 1/2 years for the new batteries being developed for electric cars. The lithium battery industry is predicting prices to drop 50% for new electric vehicles and travel up to 300 miles on an electric charge. This is why Chevy stopped production on the Volt.
Well We got to blame someone that is the American way did, you not hear about that one, the other countries Laugh Their Azz Off on how Americans seem to whine about every little thing, I have to admit there is a lot of truth to that one .... When Obama pushed GREEN energy everyone thought he was stupid but guess what He was RIGHT.
This country has no infrastructure to support electric cars, and until it does, electric cars like the Volt won't solve the problem, unless you live 10 miles or less from your office.
Volts have a gas tank that kicks in when the batteries are exhausted.
So, that level of Butt-@!$%#ing should be enough for you & the Republicans to inflict upon us?
i guess he doesnt watch the news, its already $6 is florida, is florida not part of the US anymore?
I cant believe how civil this comment has been.
I firmly believe the president has no control over gas prices.
But obama didnt believe that, and neither did pelosi, when he was running for president.
So now its his turn to take the blame!
the other thing is how much money into green energy this dork has lost us.
he wants us to be green so fast, it starts to look like he is encouraging the gas prices to rise.
Conspicary?
the green president and the oil companies working together to raise gas prices in order to force green?
what the dork in the white house doesnt realise, or doesent want to realise, is green takes alot of green.
i aint got $40k+ for that stupid chevy exploder, aka volt.
its easy to push a $40k car when i am paying all your transportation cost, isnt it president?
FYI, Ever hear of supply and demand, that controls pricing and until there are more people buying those Electric Vehicles the prices will be very high ... And if there are more companies producing electric vehicles the price of gas will have to come down, does that make any sense to you people ..
OMGreally.. I live in Florida and paid 3.62 yesterday. You must buy gas at the airport from the rental companies.
I opine that the President of the United States can to some degree effect the price of a gallon of gas both directly and indirectly.
Here are a few examples. Let's say that Rick becomes president and his inordinate fear of Iran causes him to take the actions against that nation that he has already said he would. There you go...$8.00 a gallon gas.
Or let's say the current President decides to use the power available to him; i.e. the FBI or the IRS taking a real close look at oil companies and oil company CEO activities. There you go....$2.95 a gallon gas.
Parenthetically, President Obama negotiated Twenty Billion Dollars for Gulf State families and business affected by the last oil spill.
This is a capitalistic country so the president cannot dictate to the oil firms their prices, but he has some leeway over gas taxes. He also directs energy policy.
Finally, the president has an enormous amount of influence over the mood or sentiment of the country. An upbeat president does encourage an optimistic outlook for the future, that drives the economy, thereby altering the price of gas.
OMG, where in FL is it $6. gal. I can't seem to locate that and there's nothing on the news about it.
the stock market crashed... oil is a commodity traded on the market... it's subject to the same fluctuations as all stocks..
Also a hotly contested Presidential election with a well connected oil man as POTUS.
Ron Paul wants the dollar back on the gold standard it might be better to go on the oil standard instead. Then gas prices would never go up. Oil is the worlds most important commodity.Gold is so 19th century.
I agree, there are multiple causes to the rise in the cost of gasoline. Speculation, China, war, what have ya.
Something to ponder:
http://www.randomuseless.info/gasprice/gasprice.html
Notice the time frame from around 1990-2000. Then look at the Bush years(2001-2008). Coincidence?
That's not a plausible theory as the market has crashed on many occasions and not affected gas prices.
Are those really the cause of gas rising or are those diversions for what actually affects the oil market.
It is about supply and demand. Let me give an example.
If I was to find 10,000 tons of gold and put it on the market, what would happen to gold prices? They would crash.
Gas prices went down under Bush because he opened lands for drilling, the stock market had nothing to do with it, gold prices never went down during that time.
Phil Gramms has to be one of the worst people that has ever been in government in the U.S. Every legislation he has written should be revoked.
So we can thank him for the oil spike which was beginning to crush the economy during the summer of 2007 and also the economic crisis? 2 for 2 Phil.
There was an article on this site at the beginning of the year that reported that the U.S.'s largest export in 2011 was gasoline. That's how they keep the demand up even though American's are conserving and using less.
VietVet's comments are further proof that conversative wish the worst for this country.
Zuksam: Personally I think H2O, 02 and food are the most important commodities but that's just my humble opinion
KevinT: Average cost of a gallon of gas in USA was $1.51 when GW Bush took office, it was over $4.00 a gallon during summer of 2008 only the economic meltdown lowered the cost of gasoline to where it was when he left office. Either that or it was a conspiracy by the oil companies to lower the price of oil before Bush left office knowing they'd raise them back after Obama took office and some people would try to blame Obama for it. As Obama leads the country and the world back to prosperity, the price of gasoline will rise
I heard the segment this morning and it was filled with a bunch of rhetoric BS.
I say this for 4 years these oil CEO's stated that the high cost was related to stashing funds for future projects---- So what is their excuse now ---an election year maybe!
Also I find the current costs as a form of Gauging! I say this for if Safeway and King Soopers (Kroger) can offer $1 off of each Gallon of gas if you spend over $1000 in their store on a monthly----bi-monthly basis then this speaks and confirms quite pungently That there is much gauging going on with out gas prices.
For example can someone please explain to me how Safeway's price of gas went from $2.99 a gallon to $3.29 in a matter of 5-6 days. FACT!
And on top of this Please explain how these Oil Corp CEO's can still take home over 7 digits in profits if Gauging gas prices does not exist?
TERRIFIC!!!!! Now how'bout some working backward "rear-end loading" talk about how it shouldn't and [shouldn't have] topped $4, keep it going...then $3,...keep it going... then $2? How'bout meeting the American People at the real "Starting Line" and returning The American People's Economy back to the real $1.99 "Starting Line"; instead of your continued Musical and Moving "Sandusky Finish" Line, Mr. Chief Executive Officer?
silver flyer you got to get your facts straight it was BP that offered to set aside 20 billion dollars not that Obummer forced them to. And the only reason that Obummer wants Isreal to wait till they BOMB Iran after the election so he does not look as bad to YOU FOOLS THAT THINK HE IS GOD.
Pretty bigoted post. Probably the result of too much fox news. Fox has that affect on dimwits.
Is everybody tired of gas prices rising?
Check this story out, By Senator Bernie Sanders, on oil speculators, controlling the price of gasoline, for you:
http://www.sanders.senate.gov/newsroom/media/view/?id=8c4f0f37-a6e3-45f1-ab53-a21a431f53ac
Undermine the speculators dump oil from the reserve with no notice make it less atractive make them lose money big time. Stop being cowards
One for you
"How Koch Became An Oil Speculation Powerhouse": From inventing oil derivatives to deregulating the market"
http://thinkprogress.org/report/koch-oil-speculation/?mobile=nc
He doesn't see it hitting FIVE?!? Wow, that's a bold prediction - or is it his way of letting the industry know it's okay to push it to $4.99? I have to go now and brush up on my siphoning skills.
don't siphon, just walk. Oil company types are pure evil.
It shouldn't reach 2.00 a gallon but it already past that. Big oil needs that profit like the President needs to be President. It's all hogwash.
It's already at $4.93 for regular and over $5 for premium, in some areas of the country.
I don't know about that Siphon thing you know people are just dying to exercise their Second Amendment Rights now days .... The bad economy has cut down on their shooting range budget and are just dying to shoot something ..... LOL :-)
4.93 Where? I live in WNY we have some of the highest gas prices in the country and it doesn't approach that number. If you are referring to the publicity stunts in FL. they don't count.
5 come to San diego, it just dropped a few cents but stations have gone over $5 just this week and I can only guess about Hawaii.
My duaghter lives in northern california and she just paid $4.23 a week ago.
take a picture
If it hits 5$ people will seriously consider non-fossil fuels.
It would be nice but I doubt it. What would be a non-fossil fuel for running a car? Hydro, wind?
alan_static is right.
People will just whine and complain, but it won't be high enough to force drastic change.
For some our old trucks (2001) are the only option.
See one article says "magic # $5.30 so Exxon CEO says it won't reach $5.00 and he's the good guy. Prices should not be allowed to rise on Rhetoric - only events.
They've been greasing us up the a$$ for a few weeks now, so they can start raising the prices during spring break. It's making me crazy!
Americans are too fat to really challenge anything. They'll just pay, buy snacks and complain. Then they'll pay again the next day.
Really? So at $5.00 trucks ran by diesel engines are going to simply park and be replaced by an electric truck/engine truck capable of moving 42,000 lbs of grapes from CA to Boston in 72 hours? Get real. Fossil fuels are here to stay for the time being regardless of price, just don't be surprised when you go to the grocery store at the higher prices for everything.
Besides, if you were paying attention during Obama's 2008 campaign, he said he'd like to see high[er] energy prices because in his twisted world, that would make fossil fuels magically disappear. Only problem is, he's not capable of dealing in reality and didn't think the idea all the way through.
And didn't the Republican retards say that we can get all that oil in Iraq if we invaded?
Where are they now? Oh yeah, worried about birth control and a woman's uterus.
Gas prices spike up, folks drive less as a result, demand diminishes accordingly, prices decline again after summer driving season, economy continues its ongoing steady recovery, Obama re-elected in a 60-40 November landslide as Twitchy McMittens wonders aimlessly about that chocolate brown Mack truck, with the gleaming grille, that smeared his phony sound-biting facade all across the interstate!
Get out your giant trikes and goofy panama hats, Florida TeaThumpers - it's gonna be a long, hot summer!!
@teahead -- Your the only ones who made the claim Iraq was "war for oil". Show me ONE speech transcript where a noted Republican said Iraq was about the oil.
@ALAN Steam with a wood boiler but you have to warm it up for 20 min before you can go anywhere
Yeah right Mr. Exon CEO, like you really give a crap you POS!
Maybe $5 gas would be a good thing?
I was at the airport the other day. Water was selling for over $2 / pint... That is $4 / quart or $16 / gallon. My wife bitched, but we paid it. I drank out of the fountain for free. But now have a heck of a cold.. Coincidence?
that water was some other communities, and most have it taken from them even in drought when water table is already low to begin. demand better water filters and more public drinking fountains, so you are not adversely effecting your neighbors water supply.
Gas prices under $5 a gallon?? Mr. Tillerson must be planning to give back his salary this year.
What a comfort. Since Hussein ZERO has been in office, the price of gas has "only" DOUBLED. Along with all the other increases in the price of goods that are transported by gas. But Zero doesn't want to drill. Doesn't want the Keystone Pipeline. He wants to use replace gas with algae. Well the next time Air Force One is in the air, dump the fuel ZERO and replace it with algae and make everyone on board has a parachute except YOU. Good Riddance Moron.
when bush was in office the price of gas almost it 4.00 a gallon back in 2008 the avg was like 3.60 i think
Oh...???? I was paying $1.47 in 2004. I know because I was filling up morning and night to support my 200 mile round trip to work. I was able to move finally and guess what...I'm still paying the same amount and driving "only" 40 miles a day. Yep, I'm looking to move again...the great "Gas Migration".
We are drilling Alan. We're drilling so much that our exports are higher than ever. Keystone won't make a difference to prices here in the US - in fact, there's a whole school of belief that Keystone would raise prices by creating a glut - I don't suppose Fox News has told you that yet, right? Algae and seaweed products are showing some promise on the alternative fuels research front - why are you afraid to move forward?
@bigdadjoe
Sounds like you are making a poor decision on where you live with respect to where you work. It's your fault you spend so much on gas. MOVE CLOSER TO WHERE YOU WORK.
democrat4evr: So, what your sayen is, because Bush did it...your good with your savior & non-prophet 'O'dumbphuque'... doen it?
you a sic lil Demo-phuque!
Alan, President Obama has opened up and approved more drilling than was done in the previous 4 years. Get your facts straight!
The GOP approved keeping the subsidies for oil companies while ENDING the subsidies for our farmers in 2011. Also, all experts in the industry have collectively AGREED that the US consumers are using LESS gas now in comared to the previous years and the US currently has an INCREASED supply. The cost is about speculation on Wall Street - and since there is NO regulation on them and they can do whatever they want, if they want the cost of oil to increase because of supposed issues in Iran that MAY or MAY NOT occur, then the Speculators can up the cost of crude oil. have you even LOOKED at the billions in profit the oil companies made each quarter in 2011? It's greed. plaina nd simple. And were you this concerned when we had $4+ gas under President Bush?
people like you are why Ron White say "you can't fix stupid"
You have already passed stupid and on your way to idiot
I think Obama want to be more like Europe at 7.00 or 8.00 dollars a gallon. He thinks screw the Pestulant people of the US. As long as he can fly to his vacations and his wife can go to hers along with her 22 servants they will be looking forward to being re-elected for 2012. The tax payer pays for everything they have. What a Life!!!!!
No - what a fantasy!
oh alan 13800000 if brains were fuel, you couldnt run a chain saw
Obviously you don't think, Boy. It's clear that you let someone else do the thinking while you just parrot lies and spin. Obama has taken less vacation than the previous 3 presidents, and Michelle has fewer number of staff than Laura Bush did. Thanks for playing.
If you count the money spent for tax breaks for big oil and money for wars and so called peacekeeping in the middle east all to protect our interests which means big oils interests.We are paying more than 8.00 dollars a gallon. We are just borrowing the difference from china.
So much hate. I appreciate the post Pedestrian.
Let's stay on topic...what's that again, oh yeah gas prices.
Alan, I realize facts wont trump racism, bigotry and hate but let's try anyway. After years of trying the Republican Party managed to get the oil industry deregulated and the price of gas went from $1 to $4 and oil company profits quadrupled. You obviously watch too much fox news. Do you realize the owner of fox isn't even an American. He got citizenship only because he wanted to come here and influence our politics as he had done in other areas. He is being kicked out of England now for illegal and unethical practices not just for spying. The Republicans are responsible for the oil companies being able to set the price for gasoline, as always, they do something and then try to blame someone else. It is difficult for me to understand how when the world is full of facts someone can be so lazy and chose to stay misinformed. It is a lot easier to push the TV switch and listen to fox lies and distortions than it is to research and try to find the truth. You mentioned Keystone. It probably will get built when Keystone get their ducks in a row; but I hate it. It threatens the well being of millions of Americans and all it does is carry oil to the gulf where oil companies can export it duty free to where they get the most money for it. It enriches the oil companies and that is why Republicans try to hold hostage tax relief for millions and energy bill and jobs bill that would benefit Americans in order to get the pipeline for their oil company corporate masters. Republicans + oil companies = 1.
Why is the price of gas at $4 per gallon? It is totally unbelivable how the market reacts to speculation of maybe a military interaction in Iran. We the people all over the world need to boycott the gas stations. We the people have the control of regulating gas prices in our hands. But as long as we do not take control than we continue helping the 400 richest people in the world to continue this gas gluton. If all owners of cars or trucks stop buying gas aleast 4 times per month until the gas prices come down to a reasonable dollar than it will have an effect on the speculation market. Let the greed speculators make money off of that!
I put twenty to forty dollars of gas in my car per month. That is all i can afford. I am with you on this. People need to start carpooling more. So many times, on my way to the hospital, i see so many cars and pickups with one person inside. OMG! Those are the ones that complain the most! This has to stop somewhere? I will help! Will anyone else? Probably not. They like to bitch too much!
people will never unite sufficiently to do what you suggest. i've seen it time and time again they're too busy,let someone else do it , etc.
Many of us have been saying for quite some time that it is the commodities market (speculators buying on margin and driving up the price of oil, food). There is a bill recently introduced (if I recall accurately) in Congress to demand that the CFTC put limits on what percentage of holds these Wall Street speculators can place....they (CFTC) haven't been doing their job (think I'll google what we pay those guys/gals) and start publicing whining about their "gig" and benefits. Thank God for the internet!! Last thing I read this week, the speculators currently add .50 a gallon to the pump price!
He hears the calls to nationalize the oil industry. That's the only thing that is keeping them from jumping the price straight to $10 a gallon. We need to nationalize the oil company interests in this country, and other nations around the globe have to follow suit. The oil companies will not stop until they are stopped. They rake us over the coals until the screaming gets too loud, and then they back off a little so we'll quite down. Then they come right back and do it again. The price of everything you buy is tied to the price of oil. That's the bottom line. No private company can be allowed to control a commodity needed for our nation's survival, and certainly not a foreign consortium (OPEC). Not water, air or oil. These must be government controlled. Nationalize the oil industry. Take away the profit incentive. We must seize all drilling and refining operations in this country. Start by withdrawing the $40 Billion in subsidies we give them.
Ed, brilliant post. Since food is also a necessity, we need to nationalize the food supply chain - starting with the farmers. Shelter is also a necessity, so we need to nationalize the entire housing industry - construction, apartments, etc. Health care is already being nationalized, so we've got that covered. In four more years, we should be able to accomplish all of this and our final conversion to communism will be complete (that's how you by-pass the nuisance of that whole socialism thing and get right to the end result). It would be interesting to see what happens when the government is in control of everything and all profit incentives have been removed. I wonder what happens? Oh, wait, the USSR tried that and after slaughtering 40 million of its own people and starving another 25 million, they collapsed. Oops. Are you still in grade school, or just in your own fantasy land?
Too much fox news for you. We made it to the Bush/Cheney years without too much of a problem. The oil companies had been regulated for many years because previous generations knew if esssentials were controlled by corporations they would do exactly what the oil companies are now doing. After years of trying, the Republicans got the oil industry deregulated and in short order gas went from$1 to $4 and oil company profits quadrupled. Do some research. Now they want Keystone which does little for the citizen but enriches the oil companies. They want us to give the oil companies all of our oil so they can export it to where they get the most money for it. The Republican Party came real close to destroying this country and they haven't given up yet. Ditto heads like you are only fueling the ruination of this country. Do you just chose to ignore the facts that contradict what your puppet masters tell you? Just keep on following them, the blind leading the blind, and we will all wind up in the ditch. If your ignorance only affected you, I wouldn't say anything but it affects us all so would you please come down off your high horse and go back to grade school and learn to study and research to come to an informed and intelligent understanding and stop being a ditto head and help us save this country.
I have no love the for oil companies, but you choose to ignore facts. 30 years ago I remember paying $1.50 per gallon of gas. I wish gas was $1.50 per gallon now, just like everyone else. Unfortunately, that is no longer reality. Oil is a commodity. The U.S. is not in control of that commodity and never will be. I am all for the elimination of oil subsidies. Let's eliminate ALL subsidies. My argument with Ed is the idea of nationalization and the removal of profit incentives. You can't do it here and there. It's easy to pick health care and oil. Those are politically charged issues. Once it starts, it never stops. Why not nationalize Apple? People have no problem paying $500 or $600 every six months for the latest and greatest i-whatever. But ask them to pay for their own health insurance or doctor visit or pay $4 a gallon for gas, and all hell breaks loose. Why is Exxon evil and Apple beloved? Apple is just as greedy as Exxon - probably more so. Shall we nationalize Apple and take away it's profit incentive? Not sure what you mean by a ditto head. I don't watch Fox News and as far as I am concerned it's a coin flip between Repubs and Dems.
Since you are able to remember 30 years ago; do you remember Regan chanting get government off the backs of corporations? That interprets into deregulation. After years of trying the Republican Party got the oil industry deregulated and in short order gas went from $1 to $4 and oil company profits quadrupled.
Healthcare cost in another generation will be a significant threat to the economic well being of this country the affordbale healthcare act is an attempt to tackle that problem now instead of waiting until it is too late. It is called forward thinking. Back to gas. The oil business was profitable during regulation but with deregulation they are trying to take all the money, corporate greed was loosed on America. I thank the Republicans for that. Many thousands of Americans killed and maimed, I thank the Republicans for that. The destruction of our economy, I thank the Republicans for that. To have an Apple or not is choice. Gas for my vehicle to go to work is a neccessity. No comparison there. Once it starts, it never stops don't make sense. The oil companies were once regulated now they aren't. You probably disagree with Nationalization but that isn't neccessary a windfall profits tax and reregulating oil companies would probably solve it. Also 30 years ago, during regulation, I was paying less than $1. There is more than a coin flip difference. The Democratic Party has traditionally put the interest of the American citizen ahead of that of corporations. The Republican Party has always been the party of big business and big money. Does the term carpetbagger ring a bell? I am not trying to infer that all Republicans are bad and all Democrats are good. I realize corruption doesn't know party lines. Don't get caught up in the spin you hear. Look at what is going on ie deregulation, 2 wars that only benefited the oil companies, war machine and halliburton. loosed regulations on the financial sector enable them to take many billions. Holding tax relef, energy bill and jobs bill hostage to Keystone which could negatively impact the lives of millions of Americans so that the oil companies could get oil from Canada to the gulf where the oil companies will export it duty free to where they get the most money for it. It enriches the oil companies that is why the Republicans are trying so hard. They don't care about you. All you are is a vote that could help enable them to continue the ruination of this country. They will lie to you, try to scare you or whatever they fell is neccessary to get your vote. I am not a Demo or Repub I am an America. I am interested in what is good for this country and as their track record will attest it is not the Republican Party. If you do some research into the areas I mentioned I would be interested in hearing from you again. I served in the military from 1963-1969. I voluntered for duty in Vietnam because I believed I was defending America when I learned that all I was a pawn being used to make some rich people richer my attitude changed. They murdered 50,000 of my brothers for filthy lucres sake. I don't like them. You can imagine how I feel about Bush/Cheney; in order to enrich oil companies, halliburton and their other friends. They mudered over a million civilans and thousands of Americans. All the while lying to you about ties to Alqueda, weapons of mass destruction, oil shortages and on and on.. It hasn't stopped. Have the death panels come to get your granny yet? I do watch as much fox news as I can stand as well as all other networks and I fact check everything they say, because I know they are liars and puppets. Beside all the distortions and lies fox puts out it is the bigotry and hatred they put out to divide us that bothers me most.
Thank you, thank you, thank you, oh mighty Rex! At $5 per gallon I'll make just enough money to buy gas, to go to work, so I can make money to buy gas, to go to work...
And he'll make damn sure it never does. Why? Because he knows that's when Americans will begin to find permanent alternatives to his oil/gasoline. It's in his best interests to keep it under $5/gallon. He needs to make that $25 million bonus next year.
I certainly feel better now knowing the oil companies are only molesting us and not into the full rape mode. Obama certainly wants higher gas prices to shove his "green energy" concept down our throats. So....when everybody has a Volt..where does the electricity come from? Oh yes...the little cord..why didn't I think of that? Now...before it gets to the little cord, where does it come from? Clean Coal? Clean Nukes? I think Obama's solution to the sick patient on a petroleum drip is the old reliable pillow over the face.
I did not vote for Obama. However I am observant. I am affiliated with no political party. I have watched events unfold from an unbiased perspective. I will probably vote Democrat this time because: I watched for at least 30 years as the Republican Party tried to get deregulation. Many years ago some people were wise enough to realize that if you put control of necessities in the hands of corporations it would make the citizen vulnerable to corporate greed. What you are witnessing today is the corporate greed we were warned of. Once the oil companies were deregulated gas went from $1 to$4 and oil company profits quadrupled. Keystone; Even the original company estimates were jobs going from 1 to 3000 as construction starts then from 3000 back to zero as the project completes. I heard politicians say in hearings that Keystone would add 100,000 jobs right now and that it would lower our gas prices and decrease our demand for foriegn oil. With the oil going from Canada to the gulf to oil companies that export it, duty free, to wherever they get the most money for it. How does that help America? To say nothing of the negative impact it could have on millions of Americans. It will probably get done because money talks. It concerned me that Politicans would make such outrageous statements to get the project completed right now.. It is obvious when they held up tax relief, energy and transportation bill and jobs bill which are all good for Americans in order to get something for the oil companies. Is it not obvious to you that the Republican Party and the oil companies are in bed together. The oil companies made near 150 billion last year and they are gouging us again. If the oil companies can make an extra several billion dollars and it be a negative for Obama it would be a double whammy for them. There is no oil shortage, there is no war in Iran, there are speculators (but who are they?). There is no reason for this increase in gas prices other than greed and maybe politics. It all goes back to deregulation without it we would not be seeing these prices.
The problem is that he is looking at the gas prices with traditional supply and demand, as if it is a luxury good. That idea just does not work. Gasoline has become too much of a daily necessity to be looked at in that way and he probably knows it. It could raise to $6 or $7 a gallon and chances are most people would still buy it, although they would cut back slightly. Gas is not something most people can just stop using when prices get higher. It has, unfortunately, become necessary to daily life for most people.
How that is that going to work for the people just getting by or those who aren't get by? I would just stop and think how is this helping. Alot of the country is underemployed or not employed and job tend to have distance attached to them as well, with cost make it impractical to do anything. how is it that so much of fuel cost is tied up it just holding the ridged manner of employment. Great for those who have managed to make the transfer not as easy for others. I think that is a big issue that needs to be addressed how much it costs it a big percentage of a salary. Which means a couple of things, we need to fix the prices so it meets the needs of the most amount of people. Have more localized employment if we can't find away to bring down current energy costs and working on solutions that are cost effective and that also means cost to longterm environment health and people health. I liked the movie Cool It had a lot of helpful things we can be doing now to help start solving problems .
Matt Lauer....how much advertising dollars does Exxon Mobil give NBC. My god, how many softballs are you going to throw up to their CEO...We will see them once again report the highest profits in the HISTORY of Corporate America after the 1st quarter.
The primary reason gas prices are so high...PURE GREED...to the detriment of the majority of Americans and their families..In addition, they give back relatively nothing percentage wise, as a function of corporate responsibility and charitable endeavors
I cant believe, you didn't even mention their outrageous corporate profits. It was almost like the CEO had you in his back pocket.
Where is Joel Grover, when you need him...very dissapointed Matt Lauer
As he's saying this, he's probably thinking how much money Exxon is about to make when it goes up past $5
I wonder if he said that off the top of his head, or was based off an informed discussion with financial advisers?
Something's gotta give eventually. Wages aren't rising fast enough to keep up with inflating gas prices. $5 gas wouldn't be an issue if the effect on the wallet was comparable to what it was when gas was $2-2.50. It's only getting worse and political rhetoric aside something's going to have to be done otherwise it's going to be a domino effect and the economy's going to take a nose dive again.
When the oil companies stop shipping our oil overseas then prices will return to under 2 dollars a gallon for gas.
good idea maybe we could put an export duty on gasoline shipped to china,india
etc so they would not want to buy from U.S.
last time around they would say it will not hit 4...now were at not hitting 5. Next year it will be not hitting 6. What a bunch of BS...how can gas go up almost 1.30 a gallon in three months?????????????????????????????????????????? That would be close to a 25% increase in a few months. No that is not speculation.
That would be an increase of over 10 cents a week..every week for 3+ months.
I was paying $3.43 in the beginning of January. Yesterday, I paid $4.25.
$5 is only maybe a month away.
If there is a war with Iran, then all bets are off. Do I hear $6 or $7 a gallon.
Cant wait to see the large profits that the oil companies will report. That will make the politians very happy because thats more money in there pockets. I wonder if the government will get to work on raising the minimum wage limit to $15.00 an hour, so people can afford gas and other needed living essentials.
Well if it does hit $5 a gallon, will he make up the difference. So I won't have to pay so much.
It's easy to speculate. I want his crystal ball.
It's people like him who have no clue.
Exxon is the great satan in this debate anyway. They have made disgusting profits on speculation and then try to appear to wring their hands about the poor consumer. Their efforts are dragging down the economy to the point that I see them as a big an enemy of the country sometimes as any of the middle east. They could be a major player in easing prices and putting American back to work. Instead he is just getting richer.
they are not making their money on spec, they are just sticking it to the people because they can. Gas useage is at an all time low in this country, and they have to make a profit, right? So, when you dont sell as much gas, you raise the price to compensate. The Koch brothers are making money on spec, and they should be required to keep the oil that they are bidding on in their yard, they dont have to now, you can buy 10 million barrles of oil, and dont have to keep it any where but in the ground.
Here we have at least three groups of liars Oil companies, Speculators, and Politicians. If we are exporting refined petroleum then there is more supply than demand, of course speculators will cry disaster, that comes under buy low sell high. We have elected officials who claim that they represent us but do nothing about the other two liars. The higher cost of petroleum is a nice distraction for the other problems our nation face. We still have troops in the Mid-East and advisers in Africa meanwhile we have the biggest problem UNEMPLOYMENT. The middle class was our tax base.
and just a question. Where is congress on this...oops they need that Exxon money so no help coming from them
I read this and wanted to throw up. I am sure the CEO of Exxon would be satisfied with 5 dollar gas!!!! lol
These are the people that need to get fired!!!! I think the government should take control of the oil industry, its a National resource and with the GREED of these CORPORATIONS maybe its about time the AMERICAN PEOPLE TAKE CONTROL AND OWN the oil in this country and OIL BECOMES a NON PROFIT ENTITY!!!
Keep the govt. out of any business.This green stuff is all smoke and mirrors...none of it pencils unless state and federal cash rebates are given.That means i am subsidizing the industry...just like in the socialist countries.Why do you think all these solar companies are coming here... they broke the countries in Europe with the rebates and they stopped the subsidize's. I am in the industry and it's crap....unless you are Peloise's relative and need a$500 million loan and then go b k in CA
Spoken like a true fox ditto head or someone drinking too much Republican kool aid. America was doing just fine when companies contolling essentials were regulated. The Republicans after years of trying to appease their corporate masters, finally got the oil industry deregulated and in short order gas went from $1 to $4 and oil company profits quadrupled and you got the shaft. Our government trys to protect us from our selves and they try to protect us from evil doers in our society and they have tried to protect us from corporate greed but the Republicans managed to put the interest of their corporate masters above that of the citizen. Now they want to blame someone else like they do with all their dirty deeds. Republican Party + oil companies=1