Wars, hurricanes, OPEC decisions, typhoons, civil unrest, consumer sentiment, driving habits, national and international economic conditions; just some of the factors that determine your price at the gas pump. But, as if he has some magic wand, people are giving President Barack Obama credit for lower gas prices.

From the HuffingtonPost.com 1/2013: “Forecasters say ample oil supplies and weak U.S. demand will keep a lid on prices. Forecasters caution that they can’t predict other factors like Middle East tensions, refinery problems or hurricanes along the U.S. Gulf Coast — in other words, the same events that caused gasoline prices to spike in 2011 and 2012 … U.S. gasoline consumption is back down to 2002 levels because of more fuel-efficient cars and the tepid economy.”

Indeed this year we had no hurricane disaster as in previous years to interrupt refineries.

On NBCNews.com April 3, 2013, several traders noted less demand and more fuel efficient vehicles as reason for prices coming down.

According to Factcheck.org, Oct 9, 2012: “The facts, for the most part, are on Romney’s side.

Obama was wrong when he denied Romney’s claim that the Obama administration cut in half the number of new permits and new leases for offshore oil and gas drilling.”

This article notes a 61 percent drop in leases and permits under Obama.

Forbes.com on May 13 noted: “Unless the world starts to boom — an unlikely scenario, given problems in Europe and the United States — production capacity will grow faster than demand, pulling prices down.”

On Examiner.com March 22, 2011: “In this new policy, President Obama is promoting an offshore drilling partnership with Brazil, while at the same time placing moratoriums against U.S. companies drilling in our own waters.”

Sen. Rob Portman said: “Last year, we produced 14 percent less oil on public lands than we did the year before.” That statement was deemed True by Politifact.

Alexis Madrigal in theatlanticcities.com, Nov. 14: “The Washington Post’s Brad Plumer points to an intriguing refining market dynamic. Selling diesel abroad is very profitable, so they want to sell a lot of diesel. But when you make diesel, you also make other petroleum products like gasoline. In trying to exploit high diesel prices in Europe, they may be driving down gasoline prices in the States.”

One report (instituteforenergyresearch.org) stated that private and state lands are producing 5.5 times more oil per acre than on federal lands. Obama can’t take much credit for that. In part, thank the private oil “barons” of North Dakota.

Someone asked why I use so many quotes. To spout-off about some topic is easy, but to offer proof can be a little more difficult. So, in this case, I offer quotes to show that Obama may not be the wizard some think he is.

 

Tom Jacobson
Albert Lea