DC Tom Posted February 15, 2012 Share Posted February 15, 2012 Thank you. I got 2 flat tires this year. Obama bad. I've got athlete's foot. Friggin' Obama. Link to comment Share on other sites More sharing options...
Magox Posted February 15, 2012 Share Posted February 15, 2012 The oil refinery mergers played almost no role in the increase of the price of oil. What caused the price of oil to increase during his term were a few main factors, one the economy in the US domestically speaking was in a bubble, so demand was at all time highs. While we were in that bubble demand period there were tons of Gas guzzling vehicles that our automakers were creating. Also, the Global economy was in full swing, Europe was experiencing it's biggest boom period in over 30 years and China was growing at ridiculous 11% GDP growth rates. A US dollar that was plummetting hitting all time lows. There was also a shortage of rigs and tankers, more so than there is today at that time period. Not to mention all he instability in the Middle East. Then you throw in devastating Hurricanes that hit the heart of our domestic deep sea drilling and refineries and a surge in demand because of the Chinese Olympics that diverted oil shipments from the US and VOILAAAAAAAA!!!!! High prices. Link to comment Share on other sites More sharing options...
DC Tom Posted February 15, 2012 Share Posted February 15, 2012 The oil refinery mergers played almost no role in the increase of the price of oil. What caused the price of oil to increase during his term were a few main factors, one the economy in the US domestically speaking was in a bubble, so demand was at all time highs. While we were in that bubble demand period there were tons of Gas guzzling vehicles that our automakers were creating. Also, the Global economy was in full swing, Europe was experiencing it's biggest boom period in over 30 years and China was growing at ridiculous 11% GDP growth rates. A US dollar that was plummetting hitting all time lows. There was also a shortage of rigs and tankers, more so than there is today at that time period. Not to mention all he instability in the Middle East. Then you throw in devastating Hurricanes that hit the heart of our domestic deep sea drilling and refineries and a surge in demand because of the Chinese Olympics that diverted oil shipments from the US and VOILAAAAAAAA!!!!! High prices. But oil companies made money. So it's their fault. Link to comment Share on other sites More sharing options...
IDBillzFan Posted February 15, 2012 Share Posted February 15, 2012 But oil companies made money. So it's their fault. They didn't just make money. They made windfall profits. Windfall, I'm telling ya. WINDFALL! We can't have that. Unless you make phones. Then it's okay. Link to comment Share on other sites More sharing options...
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