Oil Rigged

From the Los Angeles Times:

WASHINGTON — The prospect of sharply higher fuel prices, including $4-a-gallon gasoline, may not have made it into Oval Office briefing books, perhaps explaining why President Bush was surprised Thursday when a reporter mentioned what energy analysts are saying could happen soon in many parts of the country.

“Wait, what did you just say? You’re predicting $4-a-gallon gasoline?” Bush responded to a reporter who said some analysts expect prices to soon climb that high. “That’s interesting. I hadn’t heard that. . . . I know it’s high now.”


Original DVD cover

The price of oil set another record Thursday, jumping $2.95 to close at $102.59 a barrel in New York futures trading.

But even before the recent surge in oil prices, analysts were predicting that the average price of a gallon of gasoline could reach $3.75 nationwide in the near term and top $4 in states such as California and Hawaii.

…snip…

At a Shell service station in the Bay Area city of San Mateo, the price of a gallon of regular had already reached $4.29, well above the state average of $3.42, as measured by the AAA auto club.

…snip…

Not surprisingly in a presidential election year, Bush’s remark provoked comparisons to his father, George H. W. Bush, who took a serious political hit in 1992 after appearing to be out of touch with Americans’ everyday lives.

…snip…

During a White House news conference, Bush tried to put the best spin on months of bleak economic news. “I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.

…snip…

[Federal Reserve Chairman Ben S.] Bernanke told the Senate Banking Committee that he didn’t see much danger of so-called stagflation, the combination of falling growth and rising prices that ravaged the economy three decades ago.

“I don’t think we’re anywhere near the situation that prevailed in the 1970s,” Bernanke said.

However, he acknowledged that higher food and fuel prices were creating “inflationary stress” that could make it tougher for the Federal Reserve to keep the economy out of recession by cutting interest rates.

…snip…

Bush said he understood that uncertainty about the economy was hard on American consumers. But he said the answer was for Congress to make the tax cuts he pushed through in his first term permanent. Many lawmakers have balked, arguing that those reductions have led to a dangerously large federal budget deficit.

…snip…

The average U.S. pump price was $3.16 a gallon Thursday, according to AAA, but higher in many regional markets.

…snip…

Energy analysts have offered motorists little solace, saying that the rules of supply and demand for gasoline and other fuels are apparently being overridden, and commodity prices are continuing their run.

The Energy Department’s most recent weekly petroleum report said gasoline inventories were more than 8% above their five-year average. Gasoline demand is about 1% shy of its level of a year ago.

Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey, said the situation was likely to get worse. He expects retail gasoline prices to hit record highs between $3.50 and $3.75 a gallon nationally and that $4 gasoline in California won’t be considered a rogue price.

Chimpy in his own words (from Think Progress, where you can watch the video if your stomach can handle it):

QUESTION: What’s your advice to the average American who is hurting now — facing the prospect of $4 a gallon gasoline, a lot of people facing –

BUSH: Wait a minute. What did you just say? You’re predicting $4 a gallon gas?

QUESTION: A number of analysts are predicting $4 a gallon gasoline this spring when they reformulate.

BUSH: That’s interesting. I hadn’t heard that.

….but wait, jids….

Yet a few minutes later, Bush wouldn’t answer a question regarding donations for his presidential library because, he claimed, “I, frankly, have been focused elsewhere, like on gasoline prices.”

22 Comments

Filed under Ben Bernanke, Chimpy, Congress, George H. W. Bush, George W. Bush, humor, movies, parody, politics, Senate Banking Committee, snark, Wordpress Political Blogs

22 responses to “Oil Rigged

  1. Friend of the court

    Today, I paid $3.49 a gallon for unleaded regular. Twenty bucks for 5.7 gallons. I only have to drive about four miles a day but, the bread I buy went up 60 cents a loaf, since last month. I’m too old to start riding a bike however, I am considering switching to open face sandwiches. The President is teh stoopid. At this rate, folks are not going to be able to “put food on their families”, much longer.

  2. nonnie9999

    fotc,
    i sometimes take comfort in thinking that the price of gas won’t matter to me too much, because i don’t drive a lot. however, once the price of gas goes up, so does everything else.
    the moron in the white house, the congress, and anyone else in power who has any influence on the economy should be given an energy allowance. they are not allowed to spend a penny more to drive from one place to another or to heat or cool off their homes. let them live within that allowance for about 6 months or so. then let’s see what they have to say.

  3. Friend of the court

    The first thing that they would do, if given an allowance, would be to try to figure out a way to cheat. These are the people who were given tax breaks, to stimulate the economy and they moved their businesses off shore to avoid taxes.

  4. Got a Grip

    Stupid does indeed come with a price. Think of how many gallons of gas we could by with that $3 trillion Bush has wasted on his precious war. I wonder how many solar panels or hybrid cars that money would buy? Or how many loaves of bread so fotc could have a whole sandwich instead of half of one?

  5. nonnie9999

    or how many kids that might have been educated who, then, might solve our energy crisis in the future! i mean really educated–learning critical thinking and not just learning how to take a test.

  6. Friend of the court

    With $3 trillion, everyone on the planet could have a sandwich and a bag of chips. That idiot has squandered the future. He has pissed away the national treasure to buy us the contempt of the world.

  7. Got a Grip

    Not just a sandwich and a bag of chips, fotc, but a Coke and a smile. We won’t be getting many smiles from the world for a very long time after the clusterfuck BushCo has made.

    nonnie, the state of education in this country is one of my pet domestic peeves. When I see how ignorant our young people are on so many subjects it just infuriates me. A country that can waste that kind of money killing brown people for the liquid carbon buried in the sand could surely afford to educate its children to identify the various states on a map or know who is president, etc. Of course, how can you expect them to learn anything in schools with raw sewage running on the floor, no toilet paper, no books, pens or paper, no heat in their classrooms? We’re lucky if they can find their way home…..

  8. nightowl724

    “Stoopid. Moron. Idiot.” Oh, I’d say Bush the oil man is “dumb like a fox” on this particular topic. That frackin’ smirk and that frickin’ wink! Oh!

    Regarding the cost of the Iraq occupation, I invite you to spend a little time with the following videos (some of which might be new to you) and to peek in on the war “cash register,” if you haven’t been there for a while:

    http://tinyurl.com/yv48rs
    http://tinyurl.com/28m3hv
    http://tinyurl.com/2ee47u
    http://tinyurl.com/23xz2e

    nonnie, you did a terrific job here – again…

  9. nightowl724

    PS I posted four day’s worth of comments this morning because I was “off sick” this week… If anyone cares to read them, that is.

  10. i just simply HATE this man….

    words cannot describe how much i loathe him and his whole merry band of moronic scumbags… i dont even know how 19% of the country can actually think he is doing a good job. the polls must be stacked with bush cousins. billy bush probably got called 3x.

    i could swear he was drunk during that comedy show called a press conference.

  11. Friend of the court

    I believe that Chimpy fell off the banana wagon sometime around the ’04 election. Also, that on some level, he knows how truely unable he is to perform as the President of the United States. This is where the utter contempt for the American People comes from. After all, we elected the fool and in some way, that is how he can justify the punishment he has been dishing out. It is one sick mess.

  12. nonnie9999

    hi everyone!
    sorry i was awol for a while and didn’t get to answer each of your comments. however, reading them, i get the distinct impression that nobody here is very happy with chimpy. 😯 did i read correctly?

  13. Friend of the court

    That Chimp-in-Chief is the public face of the real group of “terrists, who hate us for our freedom.” They will get away with it, too. The extent of their crime is so great that if they were ever tried, it would bring down the fucking government. You might say that I am truely pissed.

  14. nonnie9999

    fotc,
    everyday, i hope that chimpy and his band of thugs will be brought to trial to answer for everything they have done. i don’t know if that will ever happen. i fear that it won’t, and it will stand as one of the greatest injustices in the history of this country.

  15. Friend of the court

    It ain’t your daddy’s Buick. One or two generations and there won’t even be anyone who remembers what America was. It’s hard to watch. Somedays, I think that the sleep walkers might have the right idea. Then, I get mad again.

  16. nonnie9999

    daddy can no longer afford to put gas in the buick. i wonder when they start putting tranquilizers in the water supply so the riff-raff doesn’t get antsy.

  17. nightowl724

    Uh-huh. You read correctly, nonnie.

    I have never before HATED any American politician. Oh, I’ve intensely disliked a few or hated their stance on certain issues or their behavior. But now, from Chimpy and Cheney on down, I can feel my blood pressure rise just thinking about what those vile neo-cons have done. When I say their names, I feel as if I am uttering a profanity. And, yes, I hate, loathe, detest, despise, abhor, and curse them, every one!

  18. Friend of the court

    They put the ‘tranquilizers’ on the TV. That circus guy was right when he said, “There’s a sucker born every minute”. What makes folks really riled up is when you try to tell them what’s happening and they just don’t want to know.

  19. nonnie9999

    nightowl,
    i despise a lot of them, but my loathing for chimpy and cheney et al are on a whole other level.

    fotc,
    americans are under some kind of trance. they don’t seem to care that they are being robbed.

  20. nightowl724

    nonnie… Yep!

  21. Darth

    Umm…for the record, monkey-face WASN’T elected. It was a coup, and since the American public was so complacent about the whole thing they now get to eat the shit-cookies they’ve baked.

    The lesson will REPEAT itself until learned. We’re all accountable for our actions, whether we take accountability for them or not. Go ahead, put that BITCH in the White House…and see what (doesn’t) happen next…

  22. nonnie9999

    darth,
    i completely agree with you about chimpy.
    on the subject of hillary or obama, this is not the site to bash either one of them. i have my preference, but i will not diss the other. i am not going to delete your comment, but i am asking you politely and respectfully not to call either of the dem candidates names here. thanks.