Bigass Poltical thread Part V: The Democratic Convention

[Patrick Chewing]

Wtf is the point of the graph? It only goes up to 2006.

Ugh. Read the page before or something.

[KevinNYC]

Ugh. Read the page before or something.

Can you explain what you think the graph is showing?

[Patrick Chewing]

Can you explain what you think the graph is showing?

You said we never paid $4 a gallon in the 70's or 80's. The graph shows the price for a barrel of oil back then which mirrors what we currently pay today.

[General]

So we suddenly stop talking about gas prices after I provide stats that shows we have been paying the highest annual gas prices in American history under Obama, those are the numbers that matter, not the weekly peaks.

I don't even think Obama even cares about the gas prices, he probably looks at it as a way to get more people into hybrids

[KevinNYC]

You said we never paid $4 a gallon in the 70's or 80's. The graph shows the price for a barrel of oil back then which mirrors what we currently pay today.

OK, we'll getting closer.

Now what does the blue line tell us.

[Scoooter]

I like walking.

[KevinNYC]

OK, we'll getting closer.

Now what does the blue line tell us.

All right I'll tell people what the blue line tell us. It tells us the actual price people paid for a gallon of gas.

Here's a chart that makes the actual price paid easier to read



Here's a guy in Texas who recorded the gas price every time he filled up from 1979 to today. First time he paid more than $2 a gallon was around 2004. First time he paid $4 was around late 2007

Here's video from 1980 during the gas crisis caused by the revolution in Iran followed by the Iran-Iraq war.

http://www.youtube.com/watch?v=I0ra3Zxhcao

http://news.yahoo.com/video/louisvil...-28420469.html

[Jailblazers7]

Its embarrassing that the gas price is discussed during presidential elections.

[sunsfan1357]

One thing I found kind of funny in Obama's speech is that he was giving Romney a hard time about inexperience with foreign policy and that was one of the things people continuously questioned him on when he ran in 2008.

[DirtySanchez]

How? I'm saying that the price of gas is rising under Obama and my stats prove it. Under Bush we might have experienced a very high peak but it was not sustained like it is under Obama.

Yes, we went through a high peak, but it was for a two month period and they quickly dropped soon after. Under Obama we have experienced sustained pain at the pump. The stats show that 2012 will be worse than 2011. Look at these numbers...

So far in 2012 on average we have been paying $3.64 a gallon, higher than in 2011, the highest on average ever.

Question doesn't the power of the dollar come in to play here?
You know the dollar has lost value with all the borrowing the us has done etc to fund two wars for a long period of time.

[DirtySanchez]

Any how....another great speech by Obama. It's pretty much routine for him now. Even if you do not agree with his plan u can not deny he delivery.

I do not think this election will be close at this point I think Obama wins by a landslide. I just hope Obama learns from his mistakes from his first term. I hope the Dems can also win back the house etc. if not Obama needs to find a way to get the GOP to start working with him. Not an easy task.

[brantonli]

you Americans are all so spoilt on gas complaining about $5 gas, check this out:

http://www.bloomberg.com/slideshow/2...ry.html#slide5

Norway: $10.12
Turkey: $9.41
Israel: $9.38

and just in case you are interested, here's Bloomberg's blurb on USA's petrol prices:
http://www.bloomberg.com/slideshow/2...y.html#slide51

United States
Price per gallon of premium gasoline: $3.75
Price change since last quarter: -11%
Most-expensive-gas rank: #49
Pain-at-the-pump rank: #55

Attention to gas prices has dramatically waned as a presidential campaign theme after the price of gasoline declined for 14 straight weeks after peaking in April.

Americans have little to complain about. They pay less than half the European price for gasoline and $1.15 per gallon below the world average. The U.S. price is among the world's lowest, and Americans have high average incomes. Only five nations have less pain at the pump than the U.S. does, and four of them are members of OPEC.

The U.S. paid about $4.2 billion in 2010 to subsidize oil production and consumption. Gasoline taxes account for just 11 percent of the retail price of the fuel, compared with 60 percent in Britain.

The average daily income in the U.S. is $136, and the share of a day's wages needed to buy a gallon of gas is 2.8 percent.

(for some reason they show the price of premium gasoline, not sure why). I wish I had whatever price you guys are complaining about lol.

EDIT: I'm confused....so gas = oil/petrol? I don't live in the states so I guess I got thrown by the terminology. Pat chewing, I didn't get why you put up that graph because you were arguing about $4 gas and hten I saw a graph on oil at $100, so I thought there was no relevance between them. My mistake!

[KevinNYC]

Its embarrassing that the gas price is discussed during presidential elections.

What about confusing the real price and the nominal price from 1979 oil crisis?

[KevinNYC]

Question doesn't the power of the dollar come in to play here?
You know the dollar has lost value with all the borrowing the us has done etc to fund two wars for a long period of time.

for the past five years the dollar has bounced around between .7 and .8 of a euro. So my answer would be no.

the price is caused by supply and demand in the world oil market.

If you notice the last few months gas prices have gone up in the US. This is due to increased driving during the summer months so demand went up and refiners talking their plants off line due to Hurricane Isaac which caused a temporary blip in supply. Prices should fall a bit in the next few months if everything stays normal.

[KevinNYC]

and just in case you are interested, here's Bloomberg's blurb on USA's petrol prices:
http://www.bloomberg.com/slideshow/2...y.html#slide51

Attention to gas prices has dramatically waned as a presidential campaign theme after the price of gasoline declined for 14 straight weeks after peaking in April.

This backs up my point of the psychology of gas prices, people remember a new peak, much more than decline in prices.