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Presidential candidates should be grateful elections are held in November

GasBuddy Blog -- When we discuss U.S. gasoline prices with reporters across the country it’s not unusual to hear many echo the local consumers’ anxiety; they want to know why retail prices haven’t declined more precipitously now that the peak summer driving season is behind us.

Many mistakenly believe that the U.S. president, whomever he might be, is the most powerful man in the free world and can surely do something to fix these gas prices. Some reporters, perhaps, naively believe this too.

The logician in me wants to ask them why they’re not asking: ‘what’s keeping crude oil propped up?’
NYMEX crude oil currently trades in the low $90s. That’s puzzling because the news from Reuters’ Ramya Venugopal out of Singapore tells us...


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Submitted Oct 10, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Presidential candidates should be grateful elections are held in November Back to Topics
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KAR120CSII
Champion Author Oregon

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Message Posted: Nov 10, 2012 7:09:06 PM

In regards to the 'Topic' message -- I think more than just the politicians are grateful it's over.
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Gas4Gore
Champion Author Detroit

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Message Posted: Nov 7, 2012 3:44:19 PM

You are kidding.
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paulweb
Champion Author Ohio

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Message Posted: Nov 2, 2012 7:42:37 PM

The US economy is so intertwined with the global economy, we may never see lower gasoline prices again.
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KAR120CSII
Champion Author Oregon

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Message Posted: Nov 1, 2012 12:08:51 AM

Yes, what's keeping crude propped up?
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Bearcat500
Champion Author Cincinnati

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Message Posted: Oct 31, 2012 5:12:01 AM

OK
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dcone2
Champion Author Los Angeles

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Message Posted: Oct 16, 2012 4:35:35 PM

ok
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Donatelo
Champion Author Dayton

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Message Posted: Oct 16, 2012 8:55:56 AM

ok
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 16, 2012 3:55:30 AM

can't wait for this whole charade to be over.
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dcone2
Champion Author Los Angeles

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Message Posted: Oct 15, 2012 5:29:13 PM

ok
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Donatelo
Champion Author Dayton

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Message Posted: Oct 14, 2012 7:43:36 PM

ok
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txrojo2005
Champion Author Austin

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Message Posted: Oct 14, 2012 8:28:35 AM

It is the Federel Reserve. Stop the printing of dollars and remove the printed money from the money supply; then the prices will go down. Economics 101.
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garywa01
Sophomore Author Alberta

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Message Posted: Oct 13, 2012 11:03:36 PM

wish canadians could vote in us election
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Oct 12, 2012 3:33:11 AM

voters are not grateful. there's no viable candidate, just the lesser of two evils
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enhedman
Rookie Author Seattle

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Message Posted: Oct 11, 2012 10:33:35 PM

hmmm......
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Oct 11, 2012 9:51:01 PM


The President can't do more than he is doing. Talk to Big Oil!
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bston
Champion Author Oklahoma City

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Message Posted: Oct 11, 2012 9:35:18 PM

They want to distance themselves from volatile controversial events.
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07skydriver
Champion Author Ohio

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Message Posted: Oct 11, 2012 8:17:35 PM

Vote for Mhitt if you don't know s**t.
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TruthMatters
Champion Author New Jersey

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Message Posted: Oct 11, 2012 2:45:13 PM

At this point they are grateful that anybody cares! Look at the choices that we have!
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RoadKing95
Champion Author San Jose

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Message Posted: Oct 11, 2012 8:58:29 AM

clermont40miles - actually when you come right down to the bottom line who controls the purse strings to the CFTC?
That would be congress and they have done everything in their power to block the CFTC. They cut their budget and even though Obama tried to get them to act on the speculators congress blocked them.
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jrschl
Champion Author Louisville

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Message Posted: Oct 11, 2012 7:32:22 AM

Candidates, maybe, but the constituents should demand better/more selection to choose from. This is getting completely out of hand.
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alex395
Champion Author Louisville

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Message Posted: Oct 11, 2012 7:17:11 AM

Obama blamed Bush for high gasoline prices in 2008, therefore guess who gets the blame now. Obama is in charge and his policies are terrible ie..Keystone XL, drilling, Sec Chu saying we should be at $8-$9 a gallon like Europe. Obama wants all the credit when he sees fit so he also gets all the blame when what he does or doesn't do is unacceptable.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Oct 11, 2012 7:08:30 AM

Who does the CFTC answer to? In other words who is their boss?

Ultimately it is run by the president. He names the commissioners who are confirmed by the Senate.

These are the folks who are SUPPOSED to regulate commodities. Without regulation, speculators run amok. Forced to take delivery of product, they would never risk bidding on any commodity. Without restriction, they have turned commodities into another stock market with long and short trading in paper only.

The president CAN influence what the commission does. This president wants high gas prices to bolster his green agenda, with one exception: during election season. He cares about power, privilege and perversion -- not about you, me or America.

With the groups in power we've had since Bill Clinton, (Repub. & Democrat) the CFTC is complicit with the collusion and manipulation of institutions. They do not regulate anything. They may watch but they do NOTHING.

Reinstate the Glass-Steagall Act and get commodities out of the hands of paper traders. This is killing us across the board.

.


[Edited by: clermont40miles at 10/11/2012 9:14:20 AM EST]
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nb52
Champion Author Grand Rapids

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Message Posted: Oct 11, 2012 4:32:03 AM

It is true President's have little control over the price of gas at the pump. The bulk of the media in the USA always blame higher pump prices on the administration, only when they are Republican. Now that a Democrat is in charge, nary a story of how high are pump prices.
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ssnvet
Champion Author California

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Message Posted: Oct 11, 2012 4:08:36 AM

‘what’s keeping crude oil propped up?’ _ Let's see, maybe 1,000's of new regulations?
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Jeffro61
Champion Author Cleveland

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Message Posted: Oct 11, 2012 4:06:26 AM

Greed
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oas
Champion Author Maryland

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Message Posted: Oct 11, 2012 4:04:55 AM

So, why is oil still above $90?
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RonElp
All-Star Author El Paso

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Message Posted: Oct 11, 2012 4:03:48 AM

I believe the president is limited in what he can do. The oil countries are keeping the prices up as well as the US oil companies.Just do a price search on Exxion-Mobile... BILLIONS in profits. It's greed and the American consumer is paying for it.
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rgpiccone
Champion Author Philadelphia

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Message Posted: Oct 11, 2012 4:03:37 AM

The president has little if any influence on the day to day fluctuations in gas prices, but has major influence in the long term. The energy policies of the Obama administration, with their restrictions on drilling and exploration, have certainly contributed to the high prices we are seeing today. If you don't believe this, listen to the words of his own energy secretary Steven Chu. Chu has said that we need to get our energy prices up to European levels, and they have made progress in getting us there!
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Ferdman17
Champion Author Albany

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Message Posted: Oct 11, 2012 4:02:19 AM

Will it ever get any better???
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JagXKR
Champion Author British Columbia

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Message Posted: Oct 11, 2012 4:01:25 AM

It's the whole system and it's too big to change overnight or by one man.
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Boo1989
Champion Author Atlanta

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Message Posted: Oct 11, 2012 3:58:44 AM

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." steven chu, obama's energy secretary.
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mnrick041
Champion Author Twin Cities

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Message Posted: Oct 11, 2012 3:56:37 AM

Romney 2012
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blueeye
Champion Author Pennsylvania

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Message Posted: Oct 11, 2012 3:55:37 AM

Congress is the biggest problem they just done care about the people
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Lengas
Champion Author Gary

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Message Posted: Oct 11, 2012 3:54:28 AM

Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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jeff95519
Champion Author California

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Message Posted: Oct 11, 2012 3:53:50 AM

ok then what
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ILVET
Champion Author Illinois

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Message Posted: Oct 11, 2012 3:51:26 AM

The President can do much more than he is doing
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bababooey2
Champion Author Hartford

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Message Posted: Oct 11, 2012 3:50:19 AM

whatever
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Dailyrun
Champion Author Kentucky

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Message Posted: Oct 11, 2012 3:50:10 AM

makes no difference.
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KentuckyWildcat
Champion Author Maryland

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Message Posted: Oct 11, 2012 3:49:03 AM

1 term president!
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LeeFree
Champion Author Pittsburgh

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Message Posted: Oct 11, 2012 3:48:15 AM

Congress, more than the president, influences gas prices through the laws they pass.
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chuckwthompson
Champion Author Charlotte

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Message Posted: Oct 11, 2012 3:48:13 AM

Vote November 6th!
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aburns20
Champion Author Virginia Beach

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Message Posted: Oct 11, 2012 3:47:25 AM

More speculation
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tc316
Champion Author Twin Cities

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Message Posted: Oct 11, 2012 3:47:09 AM

Yawn
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hawkman1950
Champion Author Michigan

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Message Posted: Oct 11, 2012 3:45:50 AM

What ever.
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isem
Champion Author Missouri

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Message Posted: Oct 11, 2012 3:44:51 AM

Déjà vu
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FMREALTOR
Champion Author Florida

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Message Posted: Oct 11, 2012 3:43:38 AM

Speculation drives prices
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Petrock
Champion Author Lexington

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Message Posted: Oct 11, 2012 3:43:26 AM

While the president does not set oil and gas prices, through the policies he pushes, he probably DOES have about as much influence on the prices as anyone else in the world.
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momster1
All-Star Author Wisconsin

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Message Posted: Oct 11, 2012 3:42:32 AM

Ok
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Beau2140
Champion Author New York

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Message Posted: Oct 11, 2012 3:35:50 AM

OK
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SUPERSTEVIEO
Champion Author Quebec

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Message Posted: Oct 11, 2012 3:35:16 AM

it's the american dream.... money and power... put these together, and the result is.........................
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