What has caused the low gas prices?

Question

Is it because Obama has done a great job as president? Or is it something else?

Answer 1

1

Answer 2

I think there are 4 things at work here.



1. You can no longer hedge a bet against future oil prices without putting forth full price for the cost of it. Before you could just put 5% down and keep the rest of your money invested. Yes high risk but cheap and almost always payed off.

2. Oil demand has shrunk in a horrible economy. Lot's of supply, lot's of demand... very little expendible income for the consumer.

3. Middle east won't slow down their supply of oil. I believe... they are trying too put the shale industry under by making it un-profitable. I think I read oil needs too be 60$ a barrel for them too break even. Might have too look that up.

4. And the increased supply of U.S oil.



Combination not just one thing. I think it should fall steady and hold around 2$ a gallon for a while. It would be a great time too add some taxes too it. Pay the deficit down, or build some infrastructure. I would be glad too pay 3$ a gallon after being used too paying 4 for so long.



Most people up here got it right, it's nice too know people understand OPEC and the system.

Answer 3

The president has no control over gas prices -- whether they're Republican, Democrat, or the prices are high or low.



The first thing is expanded domestic production. The US produces 7.4 billion barrels of oil a day as of 2013 (compared to 5.4 billion barrels per day in 2011).



Second is an expanded renewable energy market, reducing demand for crude oil.



Additionally, the OPEC countries artificially inflated prices for years. Eventually, the bubble bursts.

Answer 4

The low gas prices are a way of setting us up for what they're going to do next: Raise the prices sky high, that's what. So get the cheap gas while you can because it won't be around for long. Meanwhile, a lot of us are looking at/for other fuel sources. Being a slave to the oil companies has gotten old ...

Answer 5

The drop in oil prices is a global phenomenon



It has nothing to do with Obama, America, or any single person or country.



The simple fact is that the demand for oil is less when the world is in recession. People don't have the money to buy it, so the price goes down as the supply outstrips the demand. Basically there's too much oil and not enough people with enough money to buy it.



When the world goes into recession, prices become unstable. companies try to make more money by initially putting up the price of their products, but when no one can afford them the price drops, companies make less money, they fire more people to cut their costs, with more people out of work there is less money being spent, and so the cycle continues. That is what leads to recessions getting deeper, and spiralling out of control.



There is a hope that the falling oil price will help businesses, and therefore it may have a kind of self-levelling effect. But the price of oil was too high in recent years, in fact it was kept artificially high by deliberately keeping the amount of oil being produced to low levels to artificially inflate it's price, so now the oil companies must pay for their sins with a fall in their profits. And it is exactly what they deserve. They did it to themselves.

Answer 6

Since we blamed Bush for high gas prices, I guess we should thank Obama for low gas prices. That's not really right though.



The drop in prices now under Obama is because of things happening to the market in the middle east. He had little to nothing to do with it.



Bush wasn't to blame for high prices either--people were just mad that gas prices were rising faster than oil prices the government wasn't ready to lower the highway tax to help people get by, and that he refused to consider opening the country's strategic reserves. While costly gas was really hurting a lot of families and companies financially, it is probably good that Bush didn't artificially lower the prices. Strategic reserves are there for a strategic reason--not to influence the market, and the gas/highway tax was already too low to support building and maintaining the highways we need.



The biggest beef wasn't even the high prices--it was that the government gave oil companies a lot of 'corporate welfare' and the people felt that the prices proved Americans weren't getting anything back from all the money given to oil.

Answer 7

All these answers are just political rants from one side or the other.



The fact is, that over the last 2 years the US has significantly increased its own production by taking oil that's trapped in shale and tar sands. So has Canada. This has added to supply.



China has experienced a slowdown in it's economy and is using less, the same is true for Europe. That has reduced demand.



Less demand and more supply equals lower prices.

Answer 8

low gas prices is due to the west (such as america) trying to take over the world, and before you disagree with me, this happened the last time when the allies decided to so call 'fighting for their country' (via someone else's land they're invading) i think it was Iraq or Afghanistan. Eitherways the fuel prices dropped dramatically.



america (obama)/uk/australia/UN etc are ALL bought in bed together and the states has pretty much bought everyone off, sure we blame muslims for this and that and russia and china as some communist boogeyman. Yet if you coloured a globe where there are american troops or drones or embassies are located, america has dominated most of the globe. Hilter did it by direct force, america cleverly did it behind the scenes.



I say blame U.S and its B.S for causing crap and sanctioning countries because it FEELS like it .

Answer 9

The president has no control over gas prices -- whether they're Republican, Democrat, or the prices are high or low.



The first thing is expanded domestic production. The US produces 7.4 billion barrels of oil a day as of 2013 (compared to 5.4 billion barrels per day in 2011).



Second is an expanded renewable energy market, reducing demand for crude oil.



Additionally, the OPEC countries artificially inflated prices for years. Eventually, the bubble bursts.

Answer 10

The bankers did very well collapsing the world economy, effects prominent 2008 to present (for those who have not noticed). That resulted in a continued slackening of demand.



Meanwhile non-OPEC producers have increased and are expected to further increase production through the end of 2015.



Russia, China, and North America are producing oil.



Venezuela could not convince OPEC members to cut production for stabilizing the price. Neither they nor Mexico, it appears, are able to ratchet up production for maintaining oil income.



I thought you were talking about gasoline ....



More info here, recent article

http://www.chinadailyasia.com/business/2014-10/14/content_15177736.html



Russia has done its best to collapse European markets for Russian natural gas while opening markets for the same further east.



It's likely that world natural gas production is continuing to ramp up, but I am neither expert, nor have the big picture world view on this.



One thing I do know for sure: You may safely rely on continual change in the Energy Sector through remainder of this century and it is doubtful any one component will stabilize. It will resemble a nightmare of change much more than previous century. Each nation groping to achieve its own best blend of energy components, even were nothing new to appear, which is even more doubtful.



Lots of poorer nations will likely go for whichever component is taking the greater hit as to falling demand and cheap delivery price, working with what they have as energy resources too.



Coal is taking a beating, what's next is anybody's guess; I am only saying there will be constant change, and we are already in this constant change period, which includes much else changing too.



In fact, all things will alter continually and rapidly for a 1000 years. Best point of stability is to expect continuing change except for The Golden Rule, or The Two Great Commandments, as you prefer.



Take up Yoga or something. Everyone will have to find their method of restful tranquility, perhaps garden meditation, perhaps healing music.



Types of employment and work will fluctuate continually with the changes, more so than 20th century, perhaps a few activities never quite die out, but even there the technologies will change.



Don't think people of last century had wonderfully perfect stability though, albeit the changes did work up to the current fast pace.



See if you find any 'oasis of stability' over your lifetimes, hah... Except for your own inner peace, provided you learn how. It is possible, definitely so. A very fruitful endeavor because some of the others will lose their heads or succumb in other ways...



It's an expected stage of development, similar places in the cosmos have all succeeded. The speed of change abates eventually at a comfortably advanced level of accomplishment...

Answer 11

Basically what has occurred is there is a huge down play for demand.

Industry is not up and running at capacity world wide. Movement in

many areas is being slowed way way down. The US and the Saudis

are crippling the Russians and other small players. Forcing them

out of the industry. We can support our industry with prices down to

20 dollars a barrel. Russia must be in the high 70's to above to make

a profit. We are killing them right now. Could force Putin into a war.

Answer 12

It is because the energy industry has done very well despite the Administrations attempt to stop them.

It is also because the futures market sees the Republicans taking over the Senate as a clear signal that the pipeline will be built.

Then we have OPEC's unwillingness or inability to lower their own production.

All of these add up to lower oil and gas prices.

Answer 13

It is because the us wants to push Putin and his people out of office to move its own agenda forward. Low barrel prices are driving down the Russian economy and what happens in America and things are bad? We look to blame someone and its often the President who receives the brunt end. Low prices are going to make Putin less favorable to his own people. This is a huge event that may be considered the beginning of a war. In the last 6-12 months there has been a significant amount of attacks of a different nature coming from the super powers of the world - USA, China, Russia, India - things are changing but most of the civilians don't even notice what is happening because no news station lays it out plainly to see.

Answer 14

The president has almost no effect on gas prices.



The Friday after Thanksgiving there was a meeting in Vienna between the OPEC countries. Many people thought OPEC was going to cut production in order to stabilize the markets. Instead they did nothing.



By doing nothing OPEC signaled it was willing to engage in a price war with US producers. This is because the shale gas industry (I.e. fracking) has turned the US into a net oil exporter. OPEC countries are worried because they don't want to lose power over the US - so they are attempting to drive US producers out of business.



HOWEVER



The White House policy on environmental regulation of fracking is what allowed the industry to flourish. This regulatory framework was absent under the Bush Administration.

Answer 15

It's definitely something else. Gas prices are cheaper because oil prices are. This is mostly due to there being a greater oil supply on the international market. This has been due to new technology that has been able to find new oil fields, including in the US as well as technology to get more oil out of the ground, like with fracking. This oil boom, at least in the US, has been happening in places with oil and out of reach of the Federal government (state-controlled and private lands). Why? Obama's pathological hatred of fossil fuels has resulted in more bureaucracy and less drilling on federally-controlled lands, deluding himself that green energy will usher in economic prosperity. He won't even let a win-win like the Keystone XL Pipeline be built! Free-market forces has brought more oil to market despite his bias to it.



In addition, OPEC has decided not to reduce oil production as they might ordinarily do. They are going with a price war strategy instead, hoping it will hurt American production. It doesn't hurt that they don't like Russia and Iran, which lower oil prices hurt deeply. There is also a slowing of economies around the world, slowing down demand for oil which is effecting the price.

Answer 16

Over supply of oil world wide.The Saudis are trying to ruin all nations by pumping a lot of oil and the US is producing more than ever before.So,all counties economies will flurish until the cost to operate the oil fields gets too high and then lay offs hit .Buy Pizza and some pitchers of beer tonight.Celebrate.

Answer 17

Low gas prices are almost surely going to feed FASTER CLIMATE CHANGE and undercut the market for "green" energy sources like wind and solar power. They probably also will encourage many Americans to abandon hybrid electric vehicles and go back to buying huge gas guzzling cars and trucks -- a return to the Hummer and the giant SUV.



If Obama is responsible for this -- which he partly is -- this will represent a FAILURE of his administration. Because higher gasoline use and bigger CO2 emissions will be a DISASTER for human civilization.



But it will help lower-income Americans to live a little better in the short run.



What has caused low gas prices? At least two factors, maybe three.



1. High gas prices of the past several years, plus economic recession, temporarily caused US and global oil and gas consumption to fall. This drop in demand for gasoline & oil has led to reduced prices, although it's taken awhile.



2. Greatly increased US production of oil & gas, much of it resulting from "fracking" and the development of shale oil in North Dakota, has put the US on a path to become the world's largest oil & gas exporter, unless something interferes.



3. In reaction to falling global demand due to high prices, and in reaction to US shale oil and natural gas coming on the market and threatening future demand for OPEC oil, the OPEC countries led by Saudi Arabia have slashed their prices. Why? Probably to encourage consumers to start buying more gasoline, and also to wreck the market for US oil and gas producers in order to force a lot of shale oil and fracked natural gas production to shut down.

Answer 18

The President does not control gas prices, so we can't take credit when they are low, just as we rejected blame when they where high. Probably supply and demand like other products, only with oil they manipulate the supply to control prices sometimes.

Answer 19

When are people going to get it through their thick heads that presidents don't and can't fix gas prices? The big oil companies are privately owned conglomerates with no ties to Washington. The only thing tying them to Washington is that Washington gives them permits to drill in specified places off shore because of environmental issues.

Answer 20

The president does not set gas prices, nor does he create jobs. Oil was inflated just like the housing market and it is crashing just the same. Gold will be next. When a commodity is artificially inflated, at some point it is destined to crash.

Answer 21

The price of oil went up so every country got into it now there are so many supliers of oil on the market the demand from the OPEC producers is lowered and there goes the price because they don't control the market price any more.

Answer 22

Significantly Increased supply right here in the good old US of A.



This despite implacable opposition by President Obama and his Executive Branch, leading Democrats in Congress who are bought and paid for by enviros, and most especially the nation's leading enviros, who are simply being CRUSHED by the tsunami of oil and gas being produced by the private sector on private lands.

Answer 23

No Obama didn't did any special thing because the price of Gas and Petrol have been lowed throughout the world.

Answer 24

I heard it has to do with Saudi Arabia selling it for low prices now that there's fracking going on the USA. It has nothing to do with Obama especially since he's holding up projects because of the EPA.

Answer 25

Here are the following reasons in order of importance:

1) Lack of Hurricanes hitting the Golfe of Mexico where the refineries are located.

2) Lack of catastrophic disruptions and Excess of crude inventories.

3) No major war(s) & relative peace in the world.

4) The Canadian crude oil excess of production competing with Venezuelian Crude oil.

5) The psychological booming of the shale oil in the US as a form of Energy independence.

6) The stock market is not really phased to these types of rumors.

Answer 26

Sort of, when it became clear in September/October that Obama's blockers were NOT going to be SAVED by the Democrat press...The World economy seems to picking up a little....Maybe Recovery Summer number 7 will be the charm.

Answer 27

The gas prices dropped a bit here in Canada too... Yeah, I'm sure that has to do with Obama..,. Liberals never cease to amaze me

Answer 28

cuz a bunch of islamists have captured some oil wells in Iraq and they have been selling the oil for $50 and less, they never paid anything for the oil so they will sell for anything, it's stolen oil!! The oil companies of the world are about the most greedy, corrupt outfits so if they could they would be charging as much as possible. I'm surprised those criminals in Iraq are getting away with it! so far!!!

Answer 29

ISIS is the main player in the unusual price cut! They are stealing Iraqi & Syrian Oil and selling to US Agencies and contractors at the lowest price which has ultimately dropped the demand from regular sources - OPEC.etc. Moreover KSA & other captive kingdoms, under pressure have also reduced Oil Price to defeat Russian oil supplies....! This is a political Bubble. Thanks to CIA and their terrorist groups!.

Answer 30

If you want to give Obama credit for the lower prices....then you must also give him blame for gas prices going from $1.92 when he too office to over $4.00. Which is it?



Only one reason why it's lower....Obama was unable to block oil companies from fracking on privately owned land. Oil companies increased production, and supply and demand kicked in. Too much oil means lower prices.



Simple as that.

Answer 31

People have it ALL WRONG! When BUSH was in office it was over $.00 just before OBAMA took office! My THEORY is that the BUSHES< that have owned OIL in IRAQ since the FIFTIES are NOT in control any more, even though they have ALL retired to a MULTI MILLION DOLLAR RANCH in OIL FILED TEXAS! We were DUPED by the BUSH family and even the IRAQ and IRANI wars! The very WEEK that OBAMA came into office, the price of oil dropped from nearly $4. to less than $2! I THOUGHT MY VOTE DID SOMETHING< but NO! fuel prices ALTER THE PRICES OF everything FROM food costs TO insurances AND EVEN TO home values! POLITICS is doing this ALL OVER THE WORLD! If you lived in KUWAIT, gas is about 40 cents a gallon! IT is ALL about GREED and PROFITS like any utility is! I am VERY GRATEFUL that it has LOWERED lately! <<

Answer 32

At the end of the source I just read, OPEC's cartel permitted other companies to drive prices down.



Obama has nothing to do with it. Cheers. Just bought a car, so this is a perfect time to go for a road trip.



~Aizen

Answer 33

Has noting to do with Obama in fact his actions are the opposite. The economy in the world is poor and production is increased. OPEC is not adjusting output to meet demand so the price goes down.

Answer 34

North Dakota, the XL pipeline and a new Republican majority that the speculators and OPEC believe will be successful in passing the pipeline despite The One's opposition.



The left HATES reasonably priced gasoline and oil. They despise it, even though it only hurts those whom they claim to support.

Answer 35

What cheap gas prices? I am still paying over $2.60 a gallon, Not long ago gas was under $1.50 and I had some disposable income to do things like buy stocks or go to a movie.

Answer 36

Something else.



OPEC is trying to put the oil fracking industry out of business. When oil goes below $40/barrel, fracking becomes less cost efficient so OPEC is bringing oil prices down so frackers have to lay off workers and possibly go out of business.

Answer 37

Not Blaming Obama... BUT I don't consider that paying 3$ a gal is a drop considering when he took office it was $1.62 a gal. ... Yes it was UP to $4 a gal and dropped to $3..... but if it had gone up to $10 and drops to $9 its still much higher than before he became President..



Again I don't BLAME Obama BUT I also wont credit him either!

Answer 38

Considering that cons were blaming him for high gas prices not that long ago I guess you have to give him credit for low gas prices today, even though he has no control over the price of gas.

Answer 39

LMAO. Obama doesn't control the price of oil? The petrodollar will soon be a thing of the past.

Answer 40

Obama has been the WORST at his job. don't even begin to think its because of his failed policies that the gas prices are low

Answer 41

low gas prices is due to a very good- red kidney beans- harvest the more you eat the more gas you produce and keeps everybody buzzing

Answer 42

A combination of low seasonal demand and higher domestic production. Obama and the democrats had nothing to do with either.

Answer 43

Obama is a sellout that allowed fracking to go by because he was bought out by the oil companies. So, yes Obama is the reason. But the consequence is still fracking and babying **** oil companies by restricting alternative fuel.

Answer 44

there is many ways too look at it. I just think its a way for them to raise the gas tax!! the stupid voter wont care the price is low. the price goes back up!! and the gas tax stays more money for the states!

Answer 45

It's due to the advent of fracking, increased raw energy supply and the corresponding effects on the price-per-barrel. (E.g., everything Bongo opposes.)

Answer 46

Because ISIS is flooding the world market with oil, and OPEC cannot continue to artificially inflate the price.

Answer 47

America!

Answer 48

Bush's fault! Now the cons are burning more gas and ruining the environment.

Answer 49

low oil prices cause low gas prices - worldwide demand is down, supply goes up, prices go down

Answer 50

the Saudi's lowered the prices in an effort to undercut the fledgling domestic shale oil industry. nothing to do with Obama.

Answer 51

Obama blocked new energy exploration at every opportunity.



We have those "evil" corporations like Exon to thank for cheap gas

Answer 52

OPEC is fighting over prices, causing the prices to drop as they can not agree on a set price.

Answer 53

Supply and demand

Answer 54

He is as responsible for the lower prices as he was when they went up. That never prevented people like you from criticizing him for those higher prices.

Answer 55

I heard America is using their own gas instead of getting them from Middle East.

Answer 56

Mostly the new American supplies, which would not happen if Obama was opposed to the fracking and such that you guys claim he is. Therefore his cooperation has played a part in this new world of lower prices.

Answer 57

Mostly (and its not really in the news) is because the Saudis are flooding the market in a attempt to make fracking unprofitable. Simple free market tactics...not politics that you hoped for. >.<

Answer 58

I think it's the holidays, and usually people do a lot of traveling during the holidays.

Answer 59

isis terrorists are making billions $ £s to buy weapons buy selling oil, so now the governments have stepped in reduced the price of oil, so isis gets less money to buy weapons.

Answer 60

Don't mean to sound selfish, but oil is not cheap I remember it being 57 cents

Answer 61

The gas prices should get lower and lower

Answer 62

OBAMA MAY HAVE GAS BUT GAS PRICES HAVE NOTHING TOO DO WITH HIS JOB AS CHIEF EXECUTIVE. THERE WASENT ANY HURRICAINES TOO DEAL WITH THIS YEAR AROUND THE GULF ATLANTICC STATES. NO SLOW DOWNS. AND THEY ARE PRODUCING SO MUCH OIL.

Answer 63

Saudi Arabia trying to put competitors out of business.

Answer 64

Weak global demand plus strong new supplies.

Answer 65

Obama is a great POTUS (Maybe great EVER) and the booming economy is a result of his policies

Answer 66

If one believes the Leftist demand side of economics Obama has killed the economy. If you believe the conservative side on private land oil is being exacted. Most likely there is significant parts effecting the price of gas don't worry the Democrats intend to screw you with cap & trade to kill 1st world economy. They are job killer then blame conservatives.

Answer 67

We are producing more gas domestically right now than ever before. Higher supply means lower prices.

Answer 68

supply and demand, lots of gas available for sale so much that some places temp stop producing oil

Answer 69

we just found over 300tons of gas dude

Answer 70

FRACKING... AND --- TURN WATER INTO OIL-GASOLINE

Answer 71

yea..most people don't realize that the USA has been the 2nd largest oil producing country on the planet behind Russia....we typically keep it all for ourselves but with the Fraking our production increased virtually over night....we produce more so we rely on the oil from outside sources less and less....the crazy thing is that we are the only country benefitting from lower oil prices...other counties economies are being hurt bad

Answer 72

Lol at these answers

Answer 73

Something else

Answer 74

Oduma has never and would never do anything to help working Americans.

Answer 75

Its because the Traveler has finally arrived and is leading humanity into the Golden Age.

Answer 76

under $1.50

Answer 77

It wasn't Obama. Obama wants to increase gas prices, as he has ordered the EPA to increase nation's energy prices. Obama hasn't accomplished one good thing since he took office besides increase the nations dependence on food stamps.

Answer 78

OPEC price fixing to manipulate the markets.

Answer 79

economy

Answer 80

Obama Trade war with Russia we want to bankrupt them

Answer 81

same thing has happened in england

Answer 82

It has nothing to do with Obama since he has shaky connections at best to the magnates who control the oil industry. Likely, it has more to do with the decisions made by the people behind OPEC and other international trade organizations who deal in fossil fuels.

Answer 83

Hmmm....

Answer 84

The oil companies could see that people were starting to get serious about electric and hybrid vehicles - Which would run the oil companies into the ground.

Answer 85

It had nothing to do with Obama's polices..

It's the result of hard working people drilling for oil and gas despite the fact that Obama and his Party have done everything to destroy fossil fuels and peoples jobs..

Answer 86

America has increased production of oil due to it exploiting new technique of extracting gas and oil from shale and tar sands. If OPEC nations decided to reduce their own production levels then price of energy would remain same. A case of supply and demand. However OPEC countries decided to continue pumping oil knowing price of barrel of oil (and USA gas prices) would fall. They are doing this because if barrel of oil lowers much more then will be economically wasteful for USA to invest in extracting their own energy from shale as it is an expensive way of obtaining energy. If USA stops investing and shale production reduces again OPEC can control production and price as it wishes. The OPEC countries are playing the long game, meanwhile short term cheaper for American citizens to fill up their car. Enjoy it while it lasts. Its a dog eat dog world out there.

Answer 87

The main reason is because North American oil shale is hitting the market like never before, and it's totally unbalancing the global oil market.

Answer 88

Not by Obama just like when the prices went up it wasn't Bushes fault! By the way Obama has been a horrible president!

Answer 89

Considering that cons were blaming him for high gas prices not that long ago I guess you have to give him credit for low gas prices today, even though he has no control over the price of gas

Answer 90

To keep the people quite till next year ,then after that again price will rise .

Answer 91

Oil Man has come back

Answer 92

to punish Russia it worked in late 80 and 90against USSR.

Answer 93

because of God's mercy to His Slave.

Answer 94

shale gas in the us and high oil production by opec countries

Answer 95

One of Obamas greatest failures. He wanted to get gas up to $7 a gal.

Answer 96

LOL! It has nothing to do with our moron president. OPEC is flooding the market because we're starting to show signs of energy independence which scare's the crap out of them. If they continue to produce at these level (they have claimed it will only increase) the prices will continue to drop. When it drops beyond a certain $/barrel it's NOT worth it for the US to make our own fuel, which is exactly what they want.

Answer 97

...people are eating more BEANS !

Answer 98

The plentiful gasoline in storage and the fact that OPEC is not going to cause prices to soar. This has nothing to do with politics at all. It may have a lot to do with war in the Middle East. As long as OPEC keeps prices low, ISIL cannot sell oil that it has captured at a high inflated price to maintain their source of income. It helps everyone except them.

Answer 99

because people can find more oil now

Answer 100

my dick

Answer 101

fracking..(shh!)

Answer 102

The competition has increased

Answer 103

OPEC (mainly Saudi Arabia) started pumping more oil to drive down the price and screw Russia. That is because Russia is working to help Iran acquire nuclear weapons. Russia's economy is slop and only surviving due to high price of oil. As oil prices fall, russian economy goes totally in the crapper. And the Russian people revolt against putin.



As a side benefit, the falling prices of oil and gas serve as a disincentive to fracking in America, due to cost of extraction being higher than price received.



And finally, on top of all that, worldwide DEMAND is falling as all this supply hits the market.



That's the 10,000 foot view

Answer 104

Don't get used to it the prices fluctuate. I don't know anything about the oil and gas industry.

Answer 105

Vladimir putins occuping some of Ukraine is the main reason to low gas prices.

Answer 106

price elasticity of demand

Answer 107

There is no such thing as low gas prices in the United Kingdom.

Answer 108

OPEC lowering prices, that's it, there is no other reason

Answer 109

While a President can impact gas prices (as Bush did by destabilizing the Middle East with no concept of what he was doing) it is a fallacy to believe that ONLY the President can impact them.

These prices have little if anything to do with Obama.



Ditka - the $1.62 was hardly representative of what happened before Obama. That is just being silly.

Answer 110

Low gas prices are usually because the offer of gas has gone up, this is likely because of the amount of gas they have or something, so when they have a bunch of it and don't know what to do with it, they lower the price of gas so that people will go fill up more often.



Or at least I think

Answer 111

First, as of December 2014, gas prices are only slightly lower than they were just before Obama took office in 2008 (i.e., gas prices plummeted from $4 to $2 just prior to January 2008, so, clearly, Obama had nothing to do with it; but, prices went up during his reign, up until a few months ago (more on that in a minute), so, if you wish, you may blame him for the increase. So, no thanks to him, any political party, etc.



Second, the decrease in price was caused by the Saudis and other oil-rich Arab nations glutting the crude oil market in order to kill the CAN-USA XL Pipeline, which they deemed to be a threat to their profits (it wasn't, but, never mind that).



Third, the decrease in gas prices means that people now feel it's a great idea to buy new cars - - whose overall MPG is virtually unchanged prior to Obama taking office (e.g., my 8-cylinder 1999 Ford Crown Victoria gets better mileage than some 6-cylinder 2014 SUVs) - - thus spending money, which might be good for the economy and the auto manufacturers, but, it will also spur more gas consumption, which means more pollution. I don't see the trade-off.



In conclusion, the price of gas was affected by external forces having nothing to do with trade or other economies, assuming "greed" isn't a major factor in either. If that is how you determine whether Obama has done a great job as President, the answer is, "Well, it was under his watch, even though he had nothing to do with it." I hope that answers your question.

Answer 112

I heard it has to do with Saudi Arabia selling it for low prices now that there's fracking going on the USA. It has nothing to do with Obama especially since he's holding up projects because of the EPA.

Answer 113

2 things. Jerry jones owns all of the oil in texas, and the cowboys are winning so he is rewarding us with gas prices. the other factor is isis. they are so kind and compassionate towards our lifestyle that they have lowered gas for all of us to enjoy.

Answer 114

The Saudi monarchy has caused low gas prices. They face a number of existential threats, and their way of responding to those threats is by starving their regional enemies or rivals by keeping oil prices low, also in the process keeping their own share of the market high. Do you think any of this would be different if the 2012 election had gone the other way?

Answer 115

Conservatives blamed him when gas prices skyrocketed. I guess we can safely assume we can credit Obama for the low prices now.

Answer 116

I think the oil prices are being driven down deliberately as an economic war against Russia, Iran, and Venezuela. This goes along with the sanctions against Russia and Iran. This sounds much like the Mark of the Beast of the Bible. This is a very dangerous game to play and is anti-Christian. "Do unto others as you would have them do unto you." "Thou shalt love thy neighbor as thyself." They got away with this with Saddam Hussein and Muammar Khadaffy, but they didn't have nuclear weapons and nerve gas. If they had they probably would have attacked. "Pride goeth before destruction, and an haughty spirit before a fall."r

Answer 117

To me it sounds like nobody noes why.

Answer 118

It's all politics

Answer 119

Low oil and thus gas prices are being caused by shale oil extraction in the USA - it is making America self sufficient in oil thus it is importing less oil which in turn forces the world price of crude to fall.



This link will keep you up-to-date with oil prices

http://www.oil-price.net/



This link helps explain what's really happening in regard to shale oil and etc USA

http://www.theguardian.com/environment/shale-oil



Note: the fall in both gas and oil prices on the world market is putting a heave squeeze on the Russian economy which is heavily dependent upon oil/gas etc.



Good news then!





London UK

Answer 120

NORTH DAKOTA!!!!Ladies and Gentelman, Welcome to the new era, the new OIL super producers of the world.

Answer 121

Thanks to Obama

Answer 122

NO = its because there's a new non oil based fuel coming from France on the market that cost less than $1.78 a gallon. No one knows who's selling it. I do know EXXON-MOBILE is still selling oil based gas at lower prices. ALL VEHICLE'S ON EARTH is OIL based gas or diesel and if other non oil base fuels are used, then your engine will lock up in time/ I figure 5 to 7 years. Then you either buy a new vehicle or walk. Mike

Answer 123

Here is the deal:



OPEC has drastically reduced prices for barrels of oil, to make the domestic fracking / drilling that's going on here in the US unable to compete.



It has nothing to do with politics. It is an action of OPEC to make it unprofitable for US Oil companies to stay alive.

Answer 124

Nothing but supply and demand world wide. Obama has nothing to do with it. ( If he did, we'd be paying $4.00 per gallon at this point! )

Answer 125

f*cked up politics

Answer 126

People not eating enough curries!

Answer 127

Has nothing to do with Obama...but, let's discuss the money he spends...that is going to be dumped in our young people's future, leaving THEM to deal with it.

Answer 128

The President Obama has nothing to do with it. It is the Fracking method of

getting cheap oil.

Answer 129

LOL OBAMA < NO

Answer 130

If you think that moron in the white house had anything to do with it, there is a bridge I would like to sell you.

Answer 131

it is because obama same reason we captured Osama Bin Laden because of Obama he is doing good cant you see

Answer 132

dk

Answer 133

not obama

Answer 134

It can be a number of theories but i believe its just to excite the people and bring a sense of relief ...cause the gas prices can be hired at any moment and cause people stress,so it can also be for emotion control keeps people having hope that the presidents and government are actually helping kinda to block off your mind from other world events that are really important..

Answer 135

Obama knows how to make thing work

Answer 136

It takes gasoline to run a community!

Answer 137

It is the calm before the storm. Watch how high gas prices climb in 2015. The oil companies and market manipulators control the price of Gas.

Answer 138

Right when republicans took the senate as well as the house, low gas prices happened. Screw you stupid liberal democrat green energy companies, enjoy going out of business you idiots.

Answer 139

lower prices despite king obama more like

Answer 140

Summer's over...

Answer 141

thas great.

Answer 142

It is about supply and demand. The supply has exceeded the demand.

Answer 143

No President should take the credit ot blame in that regard. It is really more about a matter of simple supply and demand. Unless the prices sky-rocket due to an embargo over US policy/actions, then the Pres does little to influence the market. Some politico's like to point fingers and blame others, and others like to take credit where credit is not due, but that is all misdirection and grand-standing - neither is a pretty sight.

Answer 144

world economy change

Answer 145

Due to the reason of low demand or it may be due to more production.

Answer 146

Fuel charges include dropped underneath $3 each gallon throughout high of the usa, along with the description is not the simple periodic distinctions which often produce propane cheaper throughout fall months. Greater reason: US ALL acrylic shale build up tend to be converting the actual world wide acrylic marketplace with its head.

Answer 147

gas goes down because of obamas intellect

Answer 148

Well let's see, the posters on several Yahoo articles were absolutely butchering Obama when gas prices were in the $3.50 range and up, saying all sorts of tid bits of information most of it entirely untrue. Chuck above claims it is production right here in the good ole U.S. but a problem with that is that the energy produced here goes to the world market and is not just consumed by us. Sooooo if you are going to blame Obama when oil prices are thru the roof, it is only consistent to give it up to him when the prices are low. However, when the prices were way up, if the Obama trashers are going to admit that oil price escalation had little to do with Obama, then we can turn around and say Obama had nothing to do with prices going down.

Answer 149

yeup

Answer 150

Well I recall gas being almost 5 buck during the first two years of Obama...Does he have anything to do with it not really. OPEC has been controlling prices for years, but now we have started drilling and producing oil and OPEC has not cut production. WHY you ask? To drop the price and cause the USA to slow production and get control of the price again.

Answer 151

The law of supply and demand.

Answer 152

How about asking the question why did the saudi's lower the price and who is behind it? Iran? The USA? CIA? The dollar goes up when oil goes down. With gas prices falling so low what happens when the crash the markets soon. They just got their little derivative rules and obligated us to bail them out again. Why not get serious?

Answer 153

OPEC has cut prices and increased production in an attempt to affect the oil and gas industry in the United States in a negative way.

Answer 154

And Gandy, where has that new supply come from? Surely as liberals say it has to be Obama right? Cause he loves fossil fuels.

Answer 155

Since Cons blamed him for the high prices he must be responsible for the low prices too, no?

Answer 156

supplies

Answer 157

the American the Canada with making more oil. They were making the oil from fracking the crack of the shell and it makes the oil come out and they get the oil out of the sand too. They also got they also got the highest supply of hair oil and corn oil and canola oil that comes from the other natural resources its renewable so they put that in the car and that helps too. The vegetable oils have a problem getting rancid so they have to keep replacing those a lot they also make synthetic oil out of the factory oil in the science lab. I don't have any pockets there but I used to have these big pocket jeans from Old Navy you a long time ago. I think all prices going down is good. It means we get more gas to go places. The beans give me gas and mean you get me tell you what. I've been getting all is well and we'll put that like a volcano it's like a volcano yeah like a volcano with a m************ volcanoe *****. Okay no can you know would you Kano did you Kano when Don where is Batman Batman Oil Company Batman. I bought a bunch of oil and gas station put it in my car its cheaper now because I got more oil come over early American now because I'm American crude oil and because can I put more oil and to get more oil at the fan out the shell and you fracking and your drilling in the Gulf of Mexico and you you get so much for all that you have too much oil so you got you got cheap oil and oil for the car and change the oil but you also gotta put the oil in the style of the car so that so it's still dry and drive so far. They also got to withdrawal because the cars go go too far of a gallon of oil so you got like all this oil from the car lot going on maybe they could use like mushrooms or something I think canola oil at work. And then you gotta be so mean about these on these diesel and I'd rather than that everything else yet biodiesel the biodiesel a biodiesel you got the biodiesel and yet uuuu uuuu ethanol 2222 on the moon mango it done..

Answer 158

It is DESPITE Obama, not because of him. He tried to stop Keystone Pipeline which would have raised prices as transportation costs would increase. The REAL cause is worldwide over supply and the lack of production cuts by OPEC at the 11/27 meeting. That was Thanksgiving Day in USA and really gave motorists something to be thankful for===LOWER PRICES.

Answer 159

Less demand and more supply equals lower prices.

Answer 160

The answer is simple: Because the demand around the world is falling. Many countries like Germany are replacing Fuel dependency with other source of energies.

Answer 161

It's the law of supply and demand and has nothing to to with President Obama.

Answer 162

Christmas is coming up. The gas prices will be back to their high prices by then. They just try to pacify us with the low gas prices right before they jack them up again.

Answer 163

Wow! is that a loaded question, or what?



There are many reasons for the oil prices decrease. Just browse the news and you will have the answer.

Answer 164

Haven't You Heard Horizontal Drilling in Texass USA Was Land Of The Free. Now Microed slave from computer. We have too much oil and everybody is rich.

One young lady said they made $99,000 one day and an old lady in Kenedy, Tx tried to cash an $800,000 check, bank couldn't do it! The Truth Shall Set you Free. . .



Obama President Of US DARPA (the Defense Advanced Research Projects Agency) Covert Darpa Agents using ATT are online right retina eye slave microing USA invisibly from your computer from porn and Gov. sites. Darpa Adv. Alien Tech. microing your right eye retina forms an invisible cam and cell phone connection that can view you at any angle, record, harass or wifi torture you. ATT cell wifi talk to you like a cell phone in your ear live 24 hrs. a day. Search Illegal Darpa Wifi Online.

Answer 165

OPEC COUNTRIES have reduced the quantity of crude oil production , irrespective of lower demand from European Countries , may be a competition raised to another Latin American Country- Venezuela, so that non members of OPEC would start REALIZING on economy pressure and enter in to loss , there is a marginal change on changing over to non conventional energy resources , mainly solar and over all industrial recession globally has affected on LESS DEMAND ON GAS.

Answer 166

The US Government has told Saudi Arabia to flood the market with oil to reduce the price and reduce the profits of Russia. It's an economic war against Russia.



Russia depends on high oil prices to finance its military and projects globally. Those profits have vanished.

Russia is angry.

Answer 167

WOW this sure got a lot of answers



Saudi production dominates oil price.

lots of reasons better gas milage on cars, american production



Strangely the Stock market went DOWN today and the Low price of oil is being blamed! yet that puts $ in the american economy to Boast business activity.

Answer 168

Who cares?! We can finally afford to go to work for a change and get on with our lives. Yay!

Answer 169

People were not buying that much gas, so they have plenty to sell now.

Answer 170

The Russian Ukraine problems with V. Putin. A massive attempt to pin Putin's ears to a wall in Moscow. One dollar a barrel oil would kill Russian currency.

Answer 171

Just a trick to get in his reelection. And to hide inflation.

Answer 172

It's called "Over-Production." Here in the states the giant companies Exxon, Chevron, and Conoco are the 3 largest oil companies in America. Recently, they've become gold diggers in the shale in Texas, mid western states and the gulf bringing in way too much as consumers are buying fewer cars, not driving as much as much, or just not shopping in general as before. Therefore, where is the oil to be stored and/or used?



Worse? OPEC, the United States biggest oil competitor has decided to produced oil in the middle east and Asia at 30 million barrels a day. That's a lot! And they're increasing their prices in Europe for pure profit but keeping it low locally, so it's a big plus for them.

Answer 173

Everything in the Universe throughout time is Obama's fault, didn't you get that memo?

Unless good things happen, then not. (Fox News at 11:00)

Answer 174

Something else ... not Obama, Obama nor American government establishes the price of OIL, just the taxes on OIL which they have not diminished but increased beings govt makes the MOST money from that ... the price of Crude Oil is down and that has nothing to do with Obama nor any govt , America is now producing more of it's own oil instead of relying on Saudi's,etc.

Answer 175

Nope. It's because OPEC has opened a price war against shale

and tar sand oil producers.

Cheap oil can put them out of business and raise prices even higher.

Answer 176

It has nothing to do with 0bama

Answer 177

obama wants to lower the gas at the pump to get hilary elected

Answer 178

Obama's response to not build the Keystone pipeline

Answer 179

gas goes block,no problem.

Answer 180

Because of the increased production of crude oil here in the USA; almost all on privately held lands in which the government had no control.



BTW, gasoline is NOT cheap. In my lifetime I have paid as little as 7-cents for a gallon of gasoline. That's cheap.

Answer 181

Suppliers.

Answer 182

US oil production is increasing beyond forecasts ... and demand is lower in the US as it is winter months.



edit



I just filled my giant tank for $40 ... wasn't long ago that was half a tank.



http://www.nytimes.com/2014/01/25/business/us-oil-production-keeps-rising-beyond-the-forecasts.html?_r=0

Answer 183

The war with Isis.

Answer 184

The last 12 years we were just letting them republicans rip us off...

Answer 185

Primarily because global demand is down.

Answer 186

fracking is the cause -- which Obama is opposed to and doesn't permit on Federal lands

Answer 187

Unemployed Americans who cannot afford to drive their cars.

Answer 188

because there is to much oil and now we are being polluted because oil and gasoline is EVERYWHERE so no it is not because of obama personally he did good in his first term but ****** everything up in his second

Answer 189

Big part of it is fracking in north and south Dakota.

Answer 190

Drill baby drill. Tell us when that was supported by Obama.

Answer 191

As a reward for voting the republican senate in.

Answer 192

Basic supply and demand principle. Obama has nothing to do with it.

Answer 193

we are producing more oil in us plus the demand is down some

Answer 194

Necessity of the seller.

Answer 195

Global warming and chem trails mostly.

Answer 196

O.P.E.C. and Obama are hoping ISIS won't make as much profit.lol

Answer 197

Under a Democratic president, when gas prices are high, it is the president's fault, when gas prices are low it is due to factors outside the president's control. The inverse is true for Republican presidents.

Answer 198

BHO do a great job at what ? Oh, yes, that must be his one accomplishment !

Answer 199

to make wind turbines look baaaaaad

Answer 200

American production

Answer 201

its to put fracking out of buisness, it will go up soon

Answer 202

Bush did it

Answer 203

dk

Answer 204

dk

Answer 205

yeup

Answer 206

yeup

Answer 207

supply & demand

Answer 208

its because it Christmas

Answer 209

cheaper beans for your burritos ???

Answer 210

terrorists

Answer 211

better efficiency

Answer 212

my dick

Answer 213

my dick

Answer 214

you farting