Bachmanns $2 gas, what if Obama promises $1 gas?

Michele Bachmann promised supporters that if voters elect her as president, she will make sure gas prices are lower than $2 a gallon.
http://www.ibtimes.com/articles/199941/20110818/michele-bachmann-2-dollar-gas-promise.htm

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Actually gas is just over 10 cents a gallon if you're paying with a dime minted before 1965.

 

Where do you get those dimes?

 

5 and 10 cent stores.

 

Maybe it's sort of a reverse-sponsorship kind of thing. Imagine if a candidate could cut a deal with some oil company. The oil company promises a certain price, the candidate promises some sort of legal concession that allows the oil company to make more money than they lose.

 

No oil company would "cut a deal" with any candidate and Bachman is FOS.

 

Obama has promised Americans all kinds of wonderfull changes....all the way leading to a bank rolled nation.

 

coin shops.

 

you mean coin shops..?

 

No. I mean 5 and 10 cent stores which no longer exist, just as the dream of $1 for a gallon of gas.

 

Well it's a fact that gas costs a little over one 1964 dime. The government really has shat on our money..

 

this is true....its funny how you can see that things have not really gone up in value if measured with real money!

 

you can buy them in bags of junk silver......but you have to pay market price for them!

 

If Barry can provide $1 gas, I would suggest that he do that before the election to establish a little credibility. His word hasn't turned out to be worth much in the last 3 years.

 

Obama doesn't set world oil prices and he can't mandate that NON OPEC oil be cheaper than OPEC oil.

Neither can Bachman... She is making a fool of herself...

 

You'd probably find she crossed her fingers as she said it, and knew she meant $2 per quart.

 

What he can do is open up drilling in the US. There are huge supplies available for the taking. Supply up price down.

 

No there aren't and US lift costs are the highest in the world... Plus we have no economies of scale.

Its VERY easy to adjust supply downward... NON OPEC oil is always more expensive.

 

mmm, if she gets elected on that she can always claim later that that's what she meant "people, I meant a QUART!!!"

 

.........and so to reduce it by a further 50% add to quart 'in a pint pot'

 

Yes there are. Huge new oil fields. The one in North Dakota alone increases known US reserves 10X.

http://www.nextenergynews.com/news1/next-energy-news2.13s.html

http://www.nextenergynews.com/news1/next-energy-news2.13s.html

http://patdollard.com/2011/05/huge-new-oilfields-discovered-in-texas-can-increase-u-s-output-by-25/

 

Shale oil and tar sands??????????

 

Yes. North Dakota and Texas are booming right now with oil exploration. Liberals aren't far behind in trying to kill it all though. Fracking is public enemy #2 behind global warming right now.

These are only a few of the huge reserves of fossil fuels that are available to tap right now. New reserves of NG are off the charts due to the same technology.

The US can produce all of the energy we need. We lack the political will to do so. This one issue could right the ship of our economy. I don't think Obama is interested though do you?

 

Its too expensive... and uses too much energy and water.

An oil reserve is an ECONOMIC measurement.

Obama isn't in the oil business .. neither is the government.

 

Here's another. This one is really just hitting the news. The US could be creating many more jobs with this. It's huge. Have you heard the president mention it? Why would that be?

http://www.wytv.com/content/news/local/story/Energy-Company-Strikes-Oil-in-Area/gHR0RJFBb0iA9VBBYY6HGw.cspx

Companies have been locking up leases for drilling rights in this part of the state for more than a year now and at least one believes they've hit the jackpot.

Chesapeake Energy, which owns drilling rights to more than 1 million acres in Eastern Ohio, is calling the Utica Shale rock formation under this part of the state liquid-rich, meaning it contains oil.

In a shareholders report, Chesapeake said this development could increase the value of their company by up to $20 billion. What that means for the valley is jobs.

"This is my guess only, but I actually look and say this whole industry could bring us below the national average for unemployment, which probably is the first time in 30 years," said Eric Planey, Vice President of International Business Attraction for the Regional Chamber.

"There is a significantly underutilized work force in Eastern Ohio. We expect to assist in a major economic rejuvination of Ohio," said a representative of Chesapeake Energy.

Rick Liddle with Ohio Valley Energy said he has come across oil in the vertical wells that he has drilled. But until recently, the technology to collect that oil hasn't been there.

"This will be huge. We thought the new expansion at V & M Star was big, really because we are used to a lot of downturn here in this area. This will be huge if they hit what we are looking for," Liddle said.

The Regional Chamber said that companies are already calling about moving to this area.

"I could say right now that we've been contacted by several well head component manufacturers based in the south, who are moving up this way, or who are considering moving up this way," Planey said.

Chesapeake already has six wells operational in Ohio. They hope to increase that number to 40 over the next three years.