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Wednesday, September 10, 2014

Gas Prices Down. Here's Why.


Gas Prices Down
If you loaded up the family, and took to the road this summer, you, like millions of others crossing U.S. highways, undoubtedly noticed that gas prices had come down. A welcomed relief leading into the back-to-school and holiday spending seasons.

WJXT out of Jacksonville, FL reports, "Despite the conflict in the Middle East, and even with recent concerns over long term Russian energy supplies, gas is averaging $3.41 a gallon for regular unleaded. That's the lowest since 2010, when you compare Labor Day gas prices from year to year."

Domestic Oil Production Up

These days, in the United States, we are producing more of our own oil, which helps bring the prices down. As of April 2014, there were 1,835 operating oil and gas rigs, up over 18% from 1,553 when President Obama took office in January 2009. Total domestic oil output is up 8% this year, after declining under President Bush. In fact, domestic natural gas production is on pace to set a new record high in 2014, up nearly 25% from 2008.

None of that really helps toward investing in alternative fuels, or lowering green house gases; still, lower gas prices are always welcome, and prices are expecting to continue to fall through November.

'Yay, Mr. President, Great Job!!!' reports all the news outlets? FOX loves oil wells, drill baby drill, and all that. 'Yay, Mr. President!! You heard us! You drilled!' reports Steve Doocy of Fox And Friends. Really? Of course not.

Who Do We Blame?
Back in 2008, while the world's markets were starting to tank, FOX went into overdrive to defend the rising gas prices under George W. Not surprisingly, Fox Business Network Anchor Cheryl Cason jumped on the case, saying, "No President has the power to increase or to lower gas prices. Those are market forces," adding, "It really is tough for this President (Bush Jr.), because he really does not have any control what is going to happen with the markets and with the economy, and with oil prices, and supply and demand in gasoline, it really is out of this President's (Bush Jr) hands."

"The next time you hear a politician say he or she are going to bring down oil prices, understand it's complete BS." ~~ Bill O'Reilly on Fox News.

President Obama would agree. While stumping in North Carolina, POTUS warned, "The next time you hear some politician trotting out some 3 point plan for $2 gas, you let 'em know, we know better."

We Still Blame Obama
When reviewing the numbers from this last Labor Day, and comparing them to past Labor Days, gas prices are the lowest they’ve been in four years, at an average of $3.41 a gallon of regular unleaded nationwide. Last year’s Labor Day saw an average price of $3.59 per gallon, and the year before that it was $3.83 per gallon.

If you switch to Murdoch's channel, and we don't suggest you do, Fox and Friends is reporting,"Gas goes up almost double under this President. Did anyone see that coming? He's (Obama) been nothing but bad for the economy. The President is going to have to explain his role in causing these gas prices to go up. President Obama is the first to try to actively stop supply and production in the United States from increasing. Why isn't anybody talking about this?"

That is a good question, Steve Doocy. Why isn't anyone else saying that? Maybe because you are just making things up as you go along, Fox News.

The Facts
1. Oil production is up 25%, since President Obama took office.

2. In the US, this fall, the price of a gallon of gas is slightly down, and despite the turmoil in the Middle East and Russia, gas prices are expected to keep falling through November.

3. If you ask FOX, or Obama, nobody has anything to do with any of it.

Want to find out the gas stations with the most reasonable prices in your area? Check out Gas Buddy. It's free. You enter your zip code, they search for the cheapest gas in your area, and steer you in the right direction.

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