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February 21, 2012

Congress Gets Involved

 

No, it’s not baseball this time. It’s the rising price of gasoline.

And nothing energizes Republicans like rising energy prices. Last week House Speaker John Boehner told Republicans to take advantage of voters’ looming anger over prices at the pump

Let’s get that pipeline moving! And open up more off-shore drilling.

Gas prices are rising for three reasons and non are listed above.

1. Iran’s decision to cut exports to Britain & France (a payback move)

2. Economic recovery is taking longer than expected.

3. Speculators i.e. hedge funds and other money managers placing big bets on the price of oil.

No hints of any steroids

Filed under:Fuel cost,Fuel Price Trends,Gas price,Presidential Election | by Pump Girl @ 12:17 pm | 

June 23, 2011

Spigots To Open on Strategic Petroleum Reserve

 

Much chatter about the opening of the Strategic Petroleum Reserve.

Obama announces he will release 30 million barrels over the next 30 days.

Says Energy Sec. Steven Chu:

“We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery,” Chu said. “As we move forward, we will continue to monitor the situation and stand ready to take additional steps if necessary.”

Peak driving season is upon us, and this should help the situation vis-a-vis Libyan interruptions.

Oil futures immediately took a dive. Down to 91.02 on the NYMEX.

Saudi Arabia had already pledged to raise oil production this year following a failure of the Organization of Petroleum Producing Countries to raise group-wide output quotas.

“This was not really on anybody’s radar screen,” said Tim Evans, energy analyst at Citi Futures Perspective in New York.

Thank you election committee.

Filed under:Fuel cost,Fuel Price Trends,Gas price,Presidential Election | by Pump Girl @ 4:43 pm | 

April 7, 2009

The Presidents and Their Energy Policies

 

Each one gets to try to put his stamp on energy in the USA.

FDR – the great hydro-dams. They cost a mint and even though they still produce plenty of electricity, can only satisfy something like 5% of the nation’s needs.

Eisenhower – started the age of commercial nuclear energy.

JFK & LBJ did not focus so much on energy, Viet Nam kind got in the way.

Nixon – authorized the Alaskan pipeline & warned about dependence on foreign oil. Neither popular at the time.

Ford – created the Strategic Petroleum Reserve.

Carter – called for the “moral equivalent of a war” on energy. Nobody was listening.

Reagan – attempted to abolish the Department of Energy

Clinton – tried for a new generation of vehicles that would get high gas mileage without sacrificing anything else.

Dubya – tried to lift the ban on offshore drilling.

Obama – wait and see just how green we will go.

Filed under:Alternative Energy,Fuel Price Trends,Gas price,Presidential Election | by Pump Girl @ 5:32 pm | 

March 26, 2009

US Auto Industry, Whatcha Going To Do?

 

Pres. Obama announced today that he would announce in a few days (got that?) plans to help the auto industry.

Not to pursue business as usual though.

“I think it is appropriate for us to say are there ways for us to provide help to the U.S. auto industry to get through this very difficult time, but the price is you’ve got to finally restructure to deal with these long-standing problems,” he said during an online question-and-answer session.

“That means that everybody’s going to have to give a little bit — shareholders, workers, creditors, suppliers, dealers — everybody is going to have to recognize that the current model economic model of the U.S. auto industry is unsustainable.”

The Big Three seem willing to work with the government for their “rescue plan,” which is a good thing since Obama added

if they’re not willing to make the changes in the restructuring that are necessary, then I’m not willing to have taxpayer money chase after bad money,” Obama added. “A lot of it is going to depend on their willing to make some pretty drastic changes, and some of those are still going to be painful.”

Sounds like it’s definitely time to cut production on those SUVs.

Filed under:Presidential Election,Vehicle News | by Pump Girl @ 4:54 pm | 

March 3, 2009

Stimulus Is Coming

 

$2.26 billion was released to the American Recovery & Reinvestment Act to get the nation back on track. Roads, highways, bridges all need help.

This translates to an immediate 60 new jobs with more on the way.

The DOT said more than 100 transportation projects, receiving some $750 million in ARRA funds, have been identified and can begin work within one month.

The $26.6 billion in highway funds is aimed to generate 150,000 jobs through the end of 2010. The median pay for these jobs is $18.31 an hour, according to the White House

This is a good thing!

Filed under:Fumes,Presidential Election | by Pump Girl @ 6:26 pm |