Oh how republican/tea party his reaction!
The gas prices started going up, THREE HOURS after they announced the fire!! As masterskrain noted: there is a long delay from the time gasoline is REFINED til it gets to pumps. When oil wells have a problem, the same thing happens with gas prices, and it might take SIX MONTHS or MORE, before that oil from the well would be refined. OIL COMPANIES determine price, based on what THEY FIGURE, the “market will bear”, and have done so for decades.
Gas prices go up like a rocket. They come down like a parachute. -When gas prices go up, and there is a Republican president, Fox ‘News’ says it’s all because of supply and demand. When gas prices go up and Obama is president, Fox ‘News’ says it’s because of his policies.
^ I don’t remember mentioning either Bush or Cheney. I made reference to Fox ‘News’ version of ‘fair and balanced’.-As for the part about gas prices going up quickly on speculation and down very slowly because downward changes ‘have to work their way through the system’, that part is true and it is because of concentration in the industry. Otherwise, price changes would be equally responsive in both directions.
It’s called the “long con”, and been going on a long time. The days of dry wells ended a long time ago. And, by the way, the government provides a lot of the data to them.
One might, just MIGHT be able to draw a slightly different observational fact with regard to Bush and Cheney in discussing the ripoffs by the oil companies: THEY ARE THE OIL COMPANIES! Halliburton, Arbusto, and all the other links to the "friendly’ rules they literally re-wrote to benefit their friends in the industry, notably in 2007 with regard to offshore drilling which directly allowed BP to get away with working WITH HALLIBURTON, and “do it on the cheap”, which led to the Gulf blowout.
First the coal companies…Now this!!!
‘I’m starting to think that everything is braindead’s fault.’
-I sure get a lot of BS (bumper sticker) responses.