Supply and demand, yes.

You say that, yet the supply has never been higher. It was reported on the news today that the US is likely gonna be producing more barrels of oil per day than Saudi Arabia by the end of the year. Yet prices continue to increase.

http://www.thenewamerican.com/tech/e...oil-production

I'm not sure what you are getting at here. Yes, our domestic supply is going up dramatically but crude is a globally-traded commodity.

Still trolling with oil prices.

I'm not trolling.

:spock:

I don't know what that means with respect to what I just wrote.

Need more oil refineries, just saying.

What really pisses me off is that the average gas price has been $1.75 - $2.00 MORE per gallon over the last 5 years since Obama took office and nobody seems to care.

That equates to roughly $1.1 TRILLLION dollars EXTRA that Americans have spent on gas since 2008 and is is any wonder why the economy has so many obstacles. It is a direct hit to consumers.

Add on top of that all the companies and businesses that have raised prices like food, trucking, and airlines and it's no wonder we can't get out of our own way these days.

The biggest problem is that the Federal Reserve has DESTROYED the US Dollar and oil is traded in dollars, so oil is artificially high by at least 35-40%.

Oil should be around $60 a barrel and gasoline should be no more than $1.50 a gallon. Factor in all the stupid gas blends that states and the EPA mandate and this whole thing is a giant Ponzi scheme sucking money out of Americans.

The government loves it because all the god damn taxes they get.

We have enough oil and natural gas in this country to tell everyone to go "F" themselves.

POTUS can do very little to change the price of crude (and thereby the price of gasoline), regardless of party.

For the most part I agree but the POTUS does have influence on the value of US dollars and drilling permits domestically and in the gulf

I'm in 100% agreement w both comments. I don't blame Obama, just find it ironic that people and the media haven't said jack shit about gas prices for the last 5 years. It is a BIG burden and drag on the economy.

Most people are pretty clueless when it comes to gasoline and crude pricing. So, I suppose it's understandable to complain when "an oil man" is POTUS and crude prices are high and not when POTUS is a lawyer.

I've been arguing about the core of your argument for years. It is no Obama's fault but moreso the fault of The Fed and their super low interest rates which in turn keep the value of the $ low which in turn causes $-denominated commodities, like oil, to go up in price.

Actually it's the Federal Reserve that has the influence on the value of the $. The Fed right now and for the last several years has been more concerned with taking care of Wall St. and not Main St.