I never claimed he or his policies resulted in the price drop. However bc of his policies the price drop was a "tick" greater. demand would have been slightly higher as you say.
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it's a historic increase in production...might get him chiseled into Mt. Rushmore


The increase in United States production in 2013 exceeded the increase of 836,000 barrels a day in 2012. The largest increase before that, of 751,000 barrels, was in 1951, according to the United States Energy Information Administration.

In percentage terms, the 15.3 percent increase in 2013 was the largest since an 18.9 percent gain in 1940.

American oil production fell steadily from the early 1990s through 2008, but has since risen for five consecutive years, largely because of increased production of shale oil. Not since the late 1960s, when production in Texas was peaking and Alaska oil was beginning to come on stream, has there been such a string of annual increases.

As a result, United States oil production climbed to the highest level since 1989, although it remains well below the record production of 9.6 million barrels a day, set in 1970.

The agency forecast that American production would continue to rise in 2014, adding 782,000 barrels, to 8.3 million barrels a day.

If that forecast proves to be accurate, United States oil production will have increased 46 percent over the three years from 2011 to 2014. There has not been a three-year increase that large since the years 1921-24, exactly nine decades earlier.

http://www.nytimes.com/2014/01/25/bu...asts.html?_r=0

We're mostly saying the same thing.

But the increase in supply, which did likely cause the price drop, is likely tied to frakking. And that's something that liberals never would have allowed if they could have stopped it.

I saw on CNN tonight that the average US family will save over $1,000 in 2015 due to the drop in oil price, which is due to increased supply. How much greater would supply be, and therefore how much lower would prices be, and therefore how much more money would we all have in our pockets, had we been drilling more aggressively?

And I can't wait to see what happens to demand for electric/hybrid cars for the next 12 months, with gas so cheap.

An interesting and challenging mess, not easy to draw a straight line between cause and effect. From where I sit, Obama will continue to claim credit for most good things and dodge responsibility for all bad things. We've come a long way from "the buck stops here".

Yet the chart I posted said that worldwide demand was at an all-time high in 2014. Who knows what to think...

Excluding all the Volt owners who got burned to death by their penchant for, you know, spontaneously combusting. That's what I want...to pay $35k for a sedan (instead of $19k for an Accord) which, if I'm lucky enough not to get incinerated in, will need to be re-charged about the same time I get to the end of my driveway. Then I need to spend several grand on a new battery at some point, and we have no idea what the environmental impact is of disposing of all these soon-to-be-dead batteries. All in the name of global warming, which may well not exist, because if Al Gore was right, Fargo ND was supposed to be the world's leading exporter of pineapples and sugar cane by now.

you and Paul are cute, you'd make great room mates

I'm sure it was, it's something we can always expect to hit all-time highs......countries whose demand slumped with the recession are back to previous levels with a few exceptions, developing countries...the slump in demand 2007-now was due to a supply problem(money supply)

I guess we can give O credit for a tick or two in lower demand during that time...for his Cafe standards that don't take effect until 2016 and 2025....for the cash for clunkers program that was a joke we all remember and saving GM and then heavily subsidizing a horribly performing product...the investments like Solyndra and MANY others that didn't quite pan out

.....can we also give him credit for the many ticks up in debt for what we spent on those items?


I like the technology, my next vehicle (looking now for a teenager with a permit) will likely be a Prius or something like that but I don't want the govt picking winners and heavily subsidizing these things as their record had been dismal...particularly with this bunch...thought that was the much hated corporate welfare, I guess it's ok as long a genius progressives are doling it out for their pet projects

"can we also give him credit for the many ticks up in debt for what we spent on those items?"

Hell, yes! Spence would give you a different answer...

"for a teenager with a permit) will likely be a Prius "

Good luck, I'm several years away.

Jim, with the $2500 /yr in savings with Obama Care and now the $1,000 on gas
we'll all be able to able to buy a Prius in 10 years, but with all the new domestic
spending programs O is proposing ,maybe a loaf of bread.
Where is Spence anyway? :huh:

I think that boner was at least 5 shades darker, I was looking for the gold chains .