Death Toll Revised Down to 24 After Monstrous Oklahoma Tornado…100+ Injured…Children Among the Dead…Stunning Pictures…Woman Finds Dog During Interview!

As Heard on Beck Radio: Unbelievable TV Interview — Woman Describes Losing Her Dog…and then he emerges from the Rubble!

Business

What’s Going on With the Price of Gas?

Feb. 18, 2013 1:13pm Becket Adams

Now may not be the best time for a a cross-country road trip.

The price of unleaded gasoline has increased by 51 cents a gallon since Dec. 20, inching closer to $4 per gallon, according to a recent CNSNews.com report.

Why Have Gas Prices Risen 51 Cents in Two Months?

Source: EIA

“[T]he national average for a gallon of unleaded was $3.21.9 on Dec. 20, 2012. Today, that price is $3.73.0,” the report notes, citing data from the Oil Price Information Service.

“While there has been a steady increase, prices shot almost 9 cents just over the weekend,” the report adds. “This President’s Day also marked a full month of rising gas prices every single business day, following a very small early year drop.”

“Gas prices began rising Jan. 18, from $3.29.3-a-gallon, and have soared since. If this increase continues, gas prices could threaten or even top the all-time high price of $4.11, set in 2008,” the report adds.

But wait! There’s more:

February 2013 saw record high gas prices for the time of year according to news reports. CNBC noted the national average was the highest ever for the time of year on Feb. 1. As of Feb. 11, The Los Angeles Times reported that the national average that day ($3.587) was also a record, “7.8 cents higher than the record for Feb. 11, set last year.” Today’s price is now 17.6 cents higher than 2012.

So what’s the deal? Where is this coming from?

Well, before we try to assign blame to any one person, let’s be clear: The president alone is not responsible for the price of gas. We have to be fair about this. As we noted in October 2012, the president does play a role, but he’s not alone:

… the president does not control the price of gas. To say he is ultimately or solely responsible for increases/decreases in the cost of gas is incorrect. It wasn’t true when George W. Bush was president and it’s not true now. There are many factors that need to be considered when discussing price increases (such as the fluctuating cost of oil) and some of these are clearly outside of the president’s sphere of influence.

Indeed, from the increasing cost of crude, to OPEC reportedly cutting production by one million barrels, to production cuts and refinery closings, several factors are at play in the recent jump in the price of gas.

So there you go. The outside factors listed in the above are largely responsible for the recent explosion in gas prices.

But here’s the thing:

… by developing a robust energy plan and by encouraging exploration and investment in all types of energy, the president [could] offset … outside factors and help keep fuel prices low.

But rather than unleashing America’s energy potential, the Obama administration’s record on energy has been largely defined by multiple “green” energy failures and an almost inexplicable belligerence towards the oil and coal industries.

In other words, the president’s approach to energy has done nothing to offset the rising cost of gas.

Translation: There is some blame that can be assigned to Washington.

Now if the Obama administration were to suddenly change its mind on U.S. energy and the basic cost of crude fell, then perhaps we’d be looking at a sizable decrease in costs.

However, considering the fact that the president reaffirmed his administration’s commitment to “green” energy during his State of the Union address and the fact that conflict in the Middle East will most likely keep crude at around $90 a barrel, we shouldn’t expect it to go down anytime soon.

–

Follow Becket Adams (@BecketAdams) on Twitter

Featured image Getty Images.

In CONTROL, Glenn Beck presents a passionate, fact-based case for guns that reveals why gun control isn’t really about controlling guns at all; it’s about controlling us. Find out more HERE.

Back to The Blaze »

Comments (140)

scribblelicious
Posted on February 18, 2013 at 5:58pm
Wow that graph shows how gas prices skyrocketed under the Bush Administration. Why would The Blaze subject their minions to that?

One more question, has anyone been stupid enough to purchase those emergency food supplies they have on this site. If you really believe the apocalypse is coming under Obama why would you need the gold then?

Report this comment
Log in to ReplyReply
- GuruMeditation
  Posted on February 18, 2013 at 6:17pm
  You’ll starve.
  
  Report this comment
Couyon64
Posted on February 18, 2013 at 5:45pm
Good thing odumaz is making us all buy electric cars. Oh, wait, all the rare earth materials needed for the batteries come from China. Surely they would never screw us like that…..

Report this comment
Log in to Reply Reply
GuruMeditation
Posted on February 18, 2013 at 5:30pm
Greed and they want to limit travel.

Report this comment
Log in to Reply Reply
RightThinking1
Posted on February 18, 2013 at 5:29pm
Our local (Ganette-owned) paper last week declared in a *banner* headline (60 point typeface!) “GAS COSTS RISE WITH THE ECONOMY”. I almost fell out of my chair. Then I thought, “Where have I heard that logic before?”, it came to me that Obama made essentially the same claim during the debates.
There are two possibilities; 1. Ganette is ignorant of the fact that gasoline consumption has fallen, and the economy contracted last quarter, OR, 2. Ganette is knowingly spreading propaganda.

Anyone want to make a guess?

Report this comment
Log in to Reply Reply
matamoros
Posted on February 18, 2013 at 5:12pm
The uber rich oil execs are going to charge whatever the market will bear!

If they have to export the gasoline, diesel and other byproducts of crude, to limit the supply, and thereby increasing our demand and the price, they will do it in a heartbeat. If they have to limit the production from their refineries to limit supply, thereby increasing our demand and the price, they will do it in a heartbeat. They’ve been doing it for years, if not decades.

http://content.usatoday.com/communities/ondeadline/post/2012/02/us-exported-more-gasoline-than-imported-last-year/1

The way things are right now, they make literally billions of dollars in profit per quarter!!!! Why do you think they’re not out-front leading the way for the pipeline from Canada? They really don’t want it either, because it may adversely impact the billion dollar per quarter setup they have right now. Our oil execs meet regularly with OPEC to do “business”, and they’re both in the same business of fleecing our pockets. Of course the govt is in on it too, because it jives with their green energy policy.

This isn’t free market capitalism at work here. This is out-right cronyism and corruption.

Report this comment
Log in to Reply Reply
NewCreationDave
Posted on February 18, 2013 at 5:01pm
If you hafta ask … sheesh! Clearly, this is all Bush’s fault!

Report this comment
Log in to Reply Reply
berycuda71
Posted on February 18, 2013 at 4:58pm
You liberal IDIOTS reelected the mulato,muslim,communist PIG, now pay for IT, as I have to pay for your IDIOTIC thinking.

Report this comment
Log in to Reply Reply
OBUMAURMAMA
Posted on February 18, 2013 at 4:56pm
Election is over. Simple as that.
Wait until 2014 and then the Dems. will get the Senate and Congress. Give your soul to your God because your @ss will belong to the liberals and the likes of George Soros, Al Gore, Pelosi, some Iman and of course the Clown in the Crown.

Report this comment
Log in to Reply Reply
BannedByHuffpo
Posted on February 18, 2013 at 4:48pm
America’s SINGLE GREATEST EXPORT PRODUCT is refined gasoline.

Explain that.

Report this comment
Log in to Reply Reply
zoro51
Posted on February 18, 2013 at 4:39pm
corporate GREEEEEEED is whats UP at the pumps.. n chairman obama could CARE LESS IMPEACH N THROW OUT OF THE USA OBAMA NOW… this RAPE has gone on for too long

Report this comment
Log in to Reply Reply
MrBigBear
Posted on February 18, 2013 at 4:29pm
“Ok, don’t tell me, I’ve seen one of these before, lets see, is it soft drink dispenser?, No?!, How about a new type of cigarette machine (man, could I use a smoke!) No?! What about a thing to order food, you know, just speak into the hose? No?!
I give.
It’s a what? A gas pump, I thought we priced gas so high that these things were extinct! Tell Jack Lew to get on this immediately, we can’t have people driving cars. Next thing you know they are going to want to travel anywhere at anytime – think of the damage to the earth.

Get me back to my (gas hog) limo so we can get back to my (atmosphere polluting) helicopter to make the short trip to my (climate destroying) jet so I can fly all around and look down on the people – If only I were Emperor!

Report this comment
Log in to Reply Reply
moosebeeusa
Posted on February 18, 2013 at 4:20pm
Some people claim you can’t follow the origination of a barrel of crude oil. I don’t believe that at all.
Every well has a number and every barrel does too. Refineries must know how to process because the crude is not all the same. A simple phase “cradle to grave”. In commodities “farm to fork” so the next time your gas station attendant says I don’t know where my gas comes from dig a little deeper. Most all food products have a label and some actually say grown in the USA. Now you can call your congress person and request a sign at your local gas station that says crude not from America.

Report this comment
Log in to Reply Reply
Serenabit
Posted on February 18, 2013 at 4:20pm
It really isn’t difficult to figure out why fuel costs are setting record highs. Oil must be traded in American dollars no matter who in the world is doing the trading. As a result of this administration’s currency manipulation; the Federal Reserve, and the United States Treasury’s (Quantitative Easing) the value of the dollar has plummeted in its purchasing power internationally. In order for the suppliers to have the same profits, they must necessarily raise the costs to the consumer. To say that it’s not the President’s fault and responsibility is to take a naive approach to world markets, and that is just as dangerous as being complicit in the policies.

Report this comment
Log in to Reply Reply
PMLaw
Posted on February 18, 2013 at 4:18pm
The country reelected this horrific president in November, so apparently the nation WANTS and has no problem with the skyrocketing prices of energy, which, long before he was elected the first time, Obama PROMISED would result from his policies. Welcome to the new America–by the end of Obama’s 2nd term, if the country is able to survive another 4 years, I expect to see gasoline at around $8.00 per gallon. It more than doubled during his first term, so buckle up America, we are getting what we apparently wanted.

Report this comment
Log in to Reply Reply
Bob Mariner
Posted on February 18, 2013 at 4:05pm
I have not read all of these comments but I want to say, Supply and Demand, Price of Crude, etc. are garbage. The price of oil and gas is raised by stockbrokers and hedge fund managers and nothing or no one else.

Report this comment
Log in to ReplyReply
- KidCharlemagne
  Posted on February 18, 2013 at 5:04pm
  Bob Mariner
  Posted on February 18, 2013 at 4:05pm
  
  I have not read all of these comments but I want to say, Supply and Demand, Price of Crude, etc. are garbage. The price of oil and gas is raised by stockbrokers and hedge fund managers and nothing or no one else.
  ====================
  
  NOBODY can raise the price of oil and gas substantially without having the ability to bid the price up on world markets…..
  
  ……and you can’t do that without having the ability (i.e. the cash or credit) to bid the price up.
  
  When nobody has any money to spend, then prices for goods and services generally start falling because the seller who is anxious to sell those goods or services realizes that the price they are charging is too high and if they ever want to sell those goods and services then they will have to start lowering the price incrementally (like the discount bin at your favorite retailer) if they ever want to sell that stuff.
  
  You can’t increase the force of demand for anything unless you have the ability to pay for it first….
  
  So if you create new money out of thin air and then give it away for free to stock brokers and hedge fund managers, then what do you think they are going to do with it? They now have a liquid form of risk-free asset that they can trade (increasing demand) for commodity futures contracts in the blink of an eye.
  
  Report this comment
Sicialian Eyeball
Posted on February 18, 2013 at 4:05pm
Let’s not forget about diesel fuel. Everything you consume is delivered by diesel and it near $4.50 and rising. Prices going through the roof? Ya aint seen nothing yet. Chains of slavery are the same regardless if they are made of iron or economic. The commies will enslave you and kill the middle class.Am I nuts? I dont think so.

Report this comment
Log in to Reply Reply
MrBigBear
Posted on February 18, 2013 at 4:04pm
Change the caption on the picture to: President Obama attempts to communicate with what he thinks is a space alien, “So, exactly what kind of pump did you say you are?”

Report this comment
Log in to Reply Reply
Outlaw_Josey_Wales
Posted on February 18, 2013 at 4:02pm
Obama wants:

Higher energy price.
Higher healthcare cost.
47 million on food stamps
Making it easy to get social security disability benefits.
long term unemployment benefits.
No work for welfare benefits.
Bail out for GM workers.
$1.5 trillion deficit for the last 4 years.
And a whole lot more wasting of tax payer money.

Obama is going to bankrupt the United States, using the ‘Cloward Piven Strategy’. There is no other answer for what Obama has been doing for the last 4 years.

Report this comment
Log in to Reply Reply
ICSPADES
Posted on February 18, 2013 at 3:52pm
Why would anyone be surprised. This is all part of the plan. The infrastructure is almost in place in each city across America. Those that live in the cities will remain in each area for life once all this is put into place. Hail to the Republic!!! All the so called conservative politicians you have sank your money into will watch in glee along with the liberals as Americans devour themselves. Coming to a city near you so you will not want to miss it. Freedom will soon be something that rings only in the wilderness where the “Rejectors” live.

Report this comment
Log in to Reply Reply
progressiveslayer
Posted on February 18, 2013 at 3:16pm
Most of our oil doesn’t come from the middle east most comes from Canada and Mexico. We need to exploit ALL our natural resources,we have more oil and natural gas than any other country on earth yet this government won’t allow their exploitation,why? They say we’re destroying the environment,I say that’s BS and their argument is used to make our energy more expensive,it’s all raised artificially by progs in government to reduce our standard of living that’s all it is because cheap energy is freedom and progs in government can’t allow the people to have any freedom.

http://smartpeopleiknow.wordpress.com/2011/02/23/where-does-the-us-get-most-of-its-oil-its-not-from-the-middle-east-its-from-north-america/

Report this comment
Log in to ReplyReply
- KidCharlemagne
  Posted on February 18, 2013 at 5:21pm
  progressiveslayer
  Posted on February 18, 2013 at 3:16pm
  
  Most of our oil doesn’t come from the middle east most comes from Canada and Mexico. We need to exploit ALL our natural resources,we have more oil and natural gas than any other country on earth yet this government won’t allow their exploitation,why?
  =================
  
  Even if that were true (which it’s not), the price (how much can you get for it if you sold it to anyone that wants to buy it?) of oil and gas is determined globally (not domestically)….
  
  And besides that we have almost literally run out of places to store the excess crude oil that we currently have here in the U.S.:
  
  ——————-
  “Additionally, stockpiles in Cushing, Okla., dropped by 1.2 million barrels, a sign that the glut of oil supply in the Midwest may be easing. The surplus of oil in Cushing, where the Nymex contract is settled, has weighed on the price of U.S. crude futures for two years.”
  FOX Business (Feb. 13, 2013): “Crude-Oil Futures Drop After U.S. Stockpiles Data”
  
  Report this comment
PingPongPing
Posted on February 18, 2013 at 3:05pm
the president and his administration are earth worshipers. they value preserving the environment at the cost of bankrupting the economy. When did the president’s plan ever materialize that enabled people to find jobs?

when people are out of jobs, people cant afford to ride their cars. Cars consume gas and therefore, less cars means less pollution. Dont believe me? ever notice a faster drive to work every morning when unemployment is still high?

so what do ordinary citizens have left if they dont have jobs? either they find work with the federal government, or stay in welfare. either way, spending continues to increase, taxes will naturally have to go higher, especially if a democrat is in office….

Report this comment
Log in to Reply Reply
blackfeather
Posted on February 18, 2013 at 3:05pm
this is no dam surprise….neither is the other bloodletting this administration is laying on us.

Report this comment
Log in to Reply Reply
marybethelizabeth
Posted on February 18, 2013 at 2:49pm
Glenn Beck said gas is selling in Los Angeles for $5.19 a gallon.

That is a lie. The average price is $4.29 today, Presidents Day.

He said the higher cost is because California requires a special blend of gas.

That is a lie. The winter gas blend is cheaper to make.

Glenn Beck said he would play the media establishment stories on the gas price increase, and then had dead air.

That is a lie. There are regular stories carried by all news outlets on gas prices. This article is evidence.

On Friday Glenn Beck was telling people to listen with their hearts again, not to listen to what he says but listen to what they want to hear.
He said the test on whether he is being truthful is if an event happened. Strip away all untruthful analysis and here are 3 things that did not happen, but Glenn Beck said they did.

He didn’t go 15 mniutes Friday after whining about people saying he was lying before he told a big one that the a militia in Wisconsin issued a press release two years ago saying that the Tea Party were terrroists.
It never happened. It’s a lie.

Report this comment
Log in to ReplyReply
- UNALIEN
  Posted on February 18, 2013 at 3:10pm
  MARYBETHELIZABETH
  
  no you are a liar as usual, your collectivist ideology is not defended by facts, so you MUST engage in deception
  
  Los Angeles 5.19 per gallon for reg 4 hours prior to this post
  http://www.losangelesgasprices.com/Chevron_Gas_Stations/Los_Angeles/10869/index.aspx
  
  the price of winter blend is a result of cost of production and supply,,
  
  the supply is constrained, causing the price to rise…
  
  Report this comment
- spfoam1
  Posted on February 18, 2013 at 3:29pm
  Here comes the pinko dung beetle again, pushing her BS. Marybethelizabeth…..paid to lie, and spread ‘em.
  
  Report this comment
- UNALIEN
  Posted on February 18, 2013 at 3:41pm
  Progressivism is a Sociopathic ideological disorder
  
  Sociopaths never apologize. They are never wrong. They never feel guilt. They can never apologize. Even if shown proof that they were wrong, they will refuse to apologize and instead go on the attack.
  
  Sociopaths are delusional and literally believe that what they say becomes truth merely because they say it!
  
  Sociopaths are incapable of feeling shame, guilt or remorse. Their brains simply lack the circuitry to process such emotions. This allows them to betray people, threaten people or harm people without giving it a second thought. They pursue any action that serves their own self interest even if it seriously harms others. This is why you will find many very “successful” sociopaths in high levels of government, in any nation.
  
  Sociopaths invent outrageous lies about their experiences. They wildly exaggerate things to the point of absurdity, but when they describe it to you in a storytelling format, for some reason it sounds believable at the time.
  
  Report this comment
OniKaze
Posted on February 18, 2013 at 2:26pm
Prices of Gas are NEVER going to drop below $3 a gallon ever again…

Sorry people, but it has nothing to do with supply, or demand… (mostly)…

The crux is simply this… The oil companies are getting the “thumb-screw” treatment from Obama and his regime (not surprising, as that is what Obama said he would do before he got elected in ’08), so they had to ‘up’ their prices a few years ago to make up for it and remain heavily profitable (which is understandable)… Then they realized, even though people complain about $4/Gallon gas, THEY STILL BUY IT!!!

So there is NO REASON to drop the prices, hell, I bet they could run it up to $5 / Gallon and people would still buy it…. Now, the oil companies need to ‘pad’ their bank accounts so that when Obama rips the rest of the rug out from under them, they will have something left over for themselves (because if Obama had his way, all oil companies would be Non-profits that require endless government subsidies, and not just endless government tax breaks that they get now…)

I MAY be wrong, however, it makes sense… The oil companies are screwing us (with high prices) because they know it will only be a matter of time before Obama screws them with higher and higher taxes…

Report this comment
Log in to Reply Reply
michaelmoron
Posted on February 18, 2013 at 2:24pm
Just as I suspected:

“By the time the affiliation restrictions in the Glass–Steagall Act were repealed through the Gramm–Leach–Bliley Act of 1999 (GLBA), many commentators argued Glass–Steagall was already “dead.”

Notice the Spike after 1999.

Report this comment
Log in to Reply Reply

It appears that you have Javascript Disabled. Please enable Javascript in your browser preferences for a better user experience on TheBlaze. You can not comment without Javascript enabled.