Is it the "price of gas, stupid"?

Quote from Max E. Pad:

Energy secretary Steven Chu gives himself an "A" over the handling of higher gas prices....
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He and his boss both have a habit of rating themselves far above the reality.

Of course their sheeple supporters actually agree and believe it.
 
Quote from Lucrum:

He and his boss both have a habit of rating themselves far above the reality.

Of course their sheeple supporters actually agree and believe it.
More...

Giving Chu and Obama Nobel prizes proves that the Nobel prize has become a badge of supreme stupidity.

Chu must be removed from his Cabinet position and be replaced by someone familiar with the concept of supply and demand.
 
Gas price has just topped $3.90 for regular unleaded. Six cents up from this time last week and 23 cents from last month. This is now the highest march gasoline price ever. Especially interesting are the avg. prices in the following states. For instance...

California - $4.33
New York - $4.04
DC - $4.14

Oil just shot up again this morning as the Federal Reserve Printer-In-Chief just hinted at the next round of QE to flood the market place. Please allow me to be the first to offer up the following hypothesis: If Ben prints another $600 Billion or so (which is what the market is pricing in) then Obama is finished. Gas will go to $4.50 or so, food prices will follow suit and that will lead to Change We Can All Believe In.
 
Quote from Tsing Tao:

Gas price has just topped $3.90 for regular unleaded. Six cents up from this time last week and 23 cents from last month. This is now the highest march gasoline price ever. Especially interesting are the avg. prices in the following states. For instance...

California - $4.33
New York - $4.04
DC - $4.14

Oil just shot up again this morning as the Federal Reserve Printer-In-Chief just hinted at the next round of QE to flood the market place. Please allow me to be the first to offer up the following hypothesis: If Ben prints another $600 Billion or so (which is what the market is pricing in) then Obama is finished. Gas will go to $4.50 or so, food prices will follow suit and that will lead to Change We Can All Believe In.
More...

3.90???

We saw that in early March. I live in Illinois, so quit your whining:D
 
Quote from RCG Trader:

3.90???

We saw that in early March. I live in Illinois, so quit your whining:D
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I hope Obama goes on TV and says precisely that to America. "Quit whining!"
 
Haven't posted in a while, but not because the news has been getting any better!

Avg Price of unleaded gas is now $3.93, only 7 cents from the all powerful $4 a gallon US avg, and 18 cents from the absolute all time high. And it's still going up. While oil took a beating last week, it did not affect gas prices one bit, and oil is back on the rise again today, up over $2.40 from open. Why? Bernanke Bucks! Free to everyone.

Post all the Obama analysis you want, but in the end, it's the price of gas, stupid.
 
Quote from Tsing Tao:

Haven't posted in a while, but not because the news has been getting any better!

Avg Price of unleaded gas is now $3.93, only 7 cents from the all powerful $4 a gallon US avg, and 18 cents from the absolute all time high. And it's still going up. While oil took a beating last week, it did not affect gas prices one bit, and oil is back on the rise again today, up over $2.40 from open. Why? Bernanke Bucks! Free to everyone.

Post all the Obama analysis you want, but in the end, it's the price of gas, stupid.
More...

Might be, but I think Obama open the reserves this summer if we break the all time high.
 
Quote from RCG Trader:

Might be, but I think Obama open the reserves this summer if we break the all time high.
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Which will do nothing, because it's not about supply. Didn't you see what happened when the news got out that Obama "approved" the US strategic reserve (which is oil, not gas) being released? Gas went up, as did oil.

There are two factors affecting the price of gas - one is money printing. The reserve release won't do jack for that. The other is refinery constraint. Released oil supply won't do jack for that either.

He can stage a public address about how he's going to release the strategic reserves, but people will still feel more and more pain at the pump. And that will be his #1 headwind.

If he were serious about controlling the price of gas, he'd call his buddy Ben and tell him to stop with the spraying of freshly printed dollars all over the hemisphere. But then, that would knock the stock market down. What's a manipulator to do? :)
 
Today's update, gas UP at $3.94 a gallon while oil is down considerably. Why? :)

Hint: The reasons are also why releasing crude from the Reserve won't do jack shit.
 
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