Are Gas Prices Obama’s Fault?

In a word, yes.

I filled up my wife’s car this morning. Have a look at this:
Gas Prices Obama's Fault

Speaks for itself, no?

So when I hear Bill O’Reilly going on about how the oil companies are colluding to raise the prices – for no reason – it infuriates me.

First, the oil companies are NOT killing it with profits. ExxonMobile posted a profit margin of 9% in 2011. If my company ran 9% profit margins, I could not feed my family, much less pay my mortgage. I would be out of business.

The reason they show huge dollar figures is that there is a huge global market! Some $450 Billion in sales for Exxon alone! And they get 9% of it for their trouble.

Second, we’ve got Obama’s moratorium on Gulf drilling costing an estimated 160,000 jobs and untold billions of dollars.

Third, Obama thought it was a good idea NOT to allow construction of the Keystone XL Piepline, bringing gas down into the USA from Canada.

Fourth, we still have ANWR sitting untapped.

Fifth, we have “cap and tax” energy regulations, which – in Obama’s own words – will “necessarily skyrocket energy prices.

Sixth, Obama said flat out that he wanted to bankrupt the coal industry. See for yourself:

So, are the gas prices Obama’s fault?

You’re damn right they are.

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Comments

  1. Obama forcing the ghetto to give up their old gas guzler cadilacs

  2. Hehe ๐Ÿ™‚

    My Dad (definitely not ghetto) had a 1966 Cadillac. That thing was SWEET. He also had a baby blue Continental of the same year – that was the car I learned to drive on.

  3. I believe that the gas problem is a variety of issues. I posted this video of a commercial from 1938. Represents a time when there was actual competition among oil companies.

    http://www.youtube.com/watch?v=DcCybSXum_o

  4. Don’t let that profit margin of 9% fool you, it’s not accurate

    Keystone? The oil is still arriving…..by train

    Coal. It’s a bad thing to want clean air?

  5. Greg, you are flat wrong.

    Here is the chart for Exxon Mobile: http://finance.yahoo.com/q/ks?s=xom

    Note the 9% and change profit margin.

    Now… also note their global revenue: $433 Billion!

    The reason that they have such huge profits (even at low margins) is that they have massive global sales. With $433 Billion in top line, it is a mathematical certainty that their profit will be massive – even at low margins.

    Ken Cohen, the VP of Government Affair for Exxon Mobile said that the company’s tax filings for 2010 included over $9.8 billion. This included income tax expense of $1.6 billion.

    Cohen goes on: “Over the past five years, we incurred a total U.S. tax expense of almost $59 billion, which is $18 billion more than we earned in the United States during the same period.”

    So, Greg..you can make silly assertions that the profit margin is not what it is, but unfortunately, you have not done your (any?) homework. I would suggest that perhaps you look some of this up.

    Furthermore, can you cite any quote – from ANY conservative – where we have said clean air is bad?

    As usual, you use silly hyperbole to make an absurd point. The US has massive coal reserves and they should be exploited for the betterment of the country.

    According to (I’m sure your beloved) EPA, the air in the USA has been getting cleaner and cleaner consistently over the past 3 decades. WITH coal fired plants.

    http://www.epa.gov/airtrends/aqtrends.html

    Of course, based on your comments, I would not have expected you to look that up, either.

    Put that in your coal fired plant smoke stack and smoke it.

  6. Adam Hite says:

    You say your business couldn’t survive on a mere 9% profit margin? So I’m guessing you’re more in the 50-60% range for profit?

    People like you and companies like Exxon are nothing but bloodsuckers. Sam Walton became a millionaire on a 3% markup. Real people in real small businesses are doing well if they get 5%. We have Obama on the one side giving everything away to people who don’t work and you bloodsuckers on the other side trying to get your pound of flesh out of every transaction. The good Christian people in the middle are simply being killed by both sides.

  7. Right, Adam. I’m a bloodsucker.

    First, you have no idea what I do, how much money I make, what my family situation is, or even what business I am in. So, I think you are acting like a child, lashing out without any facts whatsoever. Your little temper tantrum speaks volumes about the type of person you are.

    That aside, you seem to imply that it is okay to make 3% profit, using Sam Walton as an example. (Though this is unclear, since you also call him a millionaire in a derogatory context, so who knows what you think.)

    I’ll assume that you think it is okay to make 3% margin.

    So….the next logical question is, should we make that a law? Who decides how much profit margin is okay?

    A bureaucrat?

    You?

    What if a small business has only $100,000.00 in top line revenue? Then the owner would have $3,000.00 profit.

    Does that meet your test?

    Or is that person a bloodsucker too?

    How about $100,000.00 in top line revenue and 30% profit – the small business owner has a 30% profit.

    Does that person, who gets to keep $30,000.00 of his effort, qualify as a bloodsucker too?

    It appears that your litmus test of 3% is a crock. Just a ranting of a child-like intellect, with no experience (clearly) in the business world.

    It would also appear that you think profits should be contained to low single digits.

    So you think it is Christian for the State to prevent you from making a living?

    I would call you an idiot, but that would be sinking to your level. Instead, I’ll just let your idiotic argument and personal attack stand by itself.

    Since you’re such a great christian, you might want to consider praying that if someone who shares your ideas ever gets into power, he allows you to keep enough to support your family.

  8. Kai Warnock says:

    Excellent rebuttal Harry. It just kills me when people such as Adam spew their “1%” garbage.
    I wish people could understand that the only system that works is the Free Market System.
    Profits are good for us all! Keep up the fight my friend…

    Kai

  9. Thanks, Kai. It is so frustrating that we’re even having this conversation! At the end of the day, it’s nobody’s damn business what profits are for a given company, large or small.

    Thanks for reading and for your support. If we keep explaining, we’ll get through to some. Though clearly, some can’t be saved… ๐Ÿ™‚

  10. Tru Conservative says:

    Came here by mistake, searching for real talking points on why Gas prices are Obama’s fault. Found this mess instead. Your points are inane, and in two cases, flat out lies.

    Drilling in ANWR would have had no impact on prices in 2012, as it would be at least a decade before those reserved where ready for processing, even if production was approved. If anything, the capital costs would cause the fuel prices to rise.

    You flat out lied about Obama saying he wanted to bankrupt coal. Any ordinary practitioner of the English language can see that in the quote you shared. Same for completely bogus whine about cap and trade – the marketplace was never put into place.

    Finally, you claim no one has a right to know what a company’s profits are, yet you describe how you access them and how you use them. Hypocrite much?

    Leave the conservative thinking to the ones that actually engage in both.

  11. And you know drilling in ANWR wouldn’t have impacted prices because….. you’re clairvoyant? Or is it because market development could never impact prices? What a dumb thing to say.

    I lied about Obama saying what he said? What a dumb ass thing to say.

    Where do I claim nobody has a right to know about profits? Did you even read the post?

    Don’t come back, dick.

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