Inside the Boiler Room: Gas Price Politics

With gas prices expected to rise throughout the summer, NBC's Mark Murray and Domenico Montanaro discuss the effect high gas prices could have on President Obama’s re-election chances.

Video edited by NBC's Matt Loffman.

TRANSCRIPT TO FOLLOW.

Discuss this post

Effect on Obama?

Easy, $5.00, or even anything over $4.00 will be crushing - on the economy.

But this is what he wants, and is exactly what he said he'd do: cause energy prices to 'skyrocket.'

Lovely. Why to go Obama.

Oh and love the Volt ad. Yep, the average wage of a Volt owner is $174k. Obama really is all about the 1%-ers, cause only they will be able to afford gas.

  • 12 votes
Reply#1 - Wed Feb 22, 2012 6:16 PM EST

Yep, the average wage of a Volt owner is $174k.

Pretty cool, huh Spanky? The Volt is second only to the Mercedes Benz in something! And it is close too - Benz owners only make an average $177K!

Of course the Mercedes folks don't get paid $7,000.00 by the American tax payers to buy one and my guess is that Mercedes might have sold a few more than 603 cars last month.

But more good news - Obama wants to start paying everyone $10,000.00 to buy a dolt.

Yea, "the car America had to build."

  • 13 votes
#1.1 - Wed Feb 22, 2012 7:20 PM EST

It does suck - I got two fine MMercedes, and S class for me and a sweet little CLK for Ms. Spanky.

Both have kick ass aluminum v-8s, are fantastic rides, but neither came with a refund of any sort.

But it's cool, the IRS did kick me back $25k for my gianormous SUV. Thank you IRC Sec. 179.

  • 13 votes
#1.2 - Wed Feb 22, 2012 7:30 PM EST

That doesn't make any sense.

The only people who can buy these cars are well off. Instead of a subsidy for the 1%, they should lower the price by $10,000. Still expensive for what you're getting, but its a price that might bring more buyers in.

Spanky,

I paid $4.12 per gal. today, that hurts!

  • 6 votes
#1.3 - Wed Feb 22, 2012 7:41 PM EST

Boy, the silence of the left here must mean they really are afraid of what gas prices will do to Obama's re-election.

Or maybe they just hate me so much they refuse to acknowledge Mark and Domenico answering this question.

Yeah, that's gotta be it.

  • 12 votes
#1.4 - Wed Feb 22, 2012 9:05 PM EST

Spanky,

Way to trot out yet another tired right-wing talking point. First, President Obama NEVER said that he'd "cause energy prices to 'skyrocket'", but don't let facts get in the way of your blather. As a matter of fact it was Steven Chu, a Nobel-winning physicist and at the time of the quote (to follow) was the director of the Lawrence Berkeley National Laboratory. Chu was not yet a member of the not-yet-in-existence Obama administration. And the quote was "[s]omehow we have to figure out how to boost the price of gasoline to the levels in Europe.” The quote was in direct response to a question regarding how to make alternative energy sources more viable.

Never mind that some energy experts say Chu had it exactly right, and that higher fuel prices would encourage consumers to buy more efficient vehicles, discourage suburban sprawl, make renewables more competitive and reduce U.S. reliance on imported oil.

But Republican politicians and conservative pundits have seized on his words as evidence that the White House is deliberately driving gasoline prices higher — ensuring that Chu’s remarks are the energy policy sound bite that will not die.

And without assuming anything about your politics, what exactly do you think that President Obama and his administration could do regarding gas prices that are set exclusively by market forces? Please say something as equally ignorant as your above statements like "drill baby drill". You know that last year, America produced more oil than we had in the last seven years. You know that right? So, you genius energy pundits, what would you do to lower the price of gasoline? Mirror something of the other Republican stalwarts? (Bachmann - $2.00 gasoline [yeah, right!!] and Gingrich - who does what he does best, blame President Obama and anyone else and state that he'll single-handedly reduce gasoline prices but NEVER, EVER gives any specifics). Please, educate the left on how you're going to solve this, or are you satisfied sitting around criticizing the left generally on something that you not only don't have a clue about what causes it, and surely don't have any idea about how to mitigate or resolve it. And sorry, Fux (rhymes with 'sucks') News can't help you on this one. They're as clueless as you are. You've obviously adopted their mantra though: The economy is improving slightly, so complain about something else and blame President Obama.

You can have your opinion. That's your right. But you can't have your own facts. That's just wrong.

  • 2 votes
#1.5 - Thu Feb 23, 2012 12:03 PM EST

[Way to trot out yet another tired right-wing talking point.]

...yeabut...yeabut...yeabut...if he didn't, he'd simply have nothing to say. I, for one, actually look forward to his mindless, parroting rants.

But he does support Newt's "moonbase"...so he's got that going for him...

  • 2 votes
#1.6 - Thu Feb 23, 2012 2:30 PM EST

Mickey,

Fair point. I never thought about reading his, and other's, mindless rants for their comedic value! I'll attempt to approach them in that fashion in the future! ;-)

TYR

  • 2 votes
#1.7 - Thu Feb 23, 2012 3:26 PM EST
Reply

Wow Dominco and Murray - it's almost like you are unaware unemployment will be at 9% for February. So much for Turing the corner, eh?

'Built in high gas prices into their budgets' - you guys are precious. Why it's almost like you all don't grasp the fact that most live paycheck to paycheck, or worse.

It's cool, but just remember in '07 Obama said the raising cost of gas was the fault of Bush's failed energy policies.

Funny, right? Funny too that pelosi and chuckuy schumer said the exact same thing. Hey, I know, maybe one of you can go out there and get a quote from them about the cause of today's prices. after all demand is way down.

Nope gang this is not about the cost of gas, rather the continued devaluation of the dollar. Thanks Obama. Thanks Bernake.

  • 12 votes
Reply#2 - Wed Feb 22, 2012 6:23 PM EST

Bad news for Obama...

All the rump swabs have exited the building.

  • 11 votes
Reply#3 - Wed Feb 22, 2012 7:10 PM EST

Just takes a republican debate to bring the haters out.

Tell me guys just how does your hating President Obama help the economy? The only plan the republicans have is more tax cuts for the rich and to deregulate wall street so they can rob our country again.

Oh, I get it, hating President Obama is all you have.

  • 7 votes
Reply#4 - Wed Feb 22, 2012 7:34 PM EST

Where is this hate you're talking about? I haven't read anything on this thread that anyone hates Obama, maybe hate his policies, but not hate Obama. I'm sure his a fun guy to drink a beer with.

I've seen the blame game for gas prices from the Democrats, it's Karma AF, it's funny how people forget what happened a few years ago. But when Obama took office the ave price was $1.83 and even that price the Democrats were complaining that was too high and now $3.79 there's no issues, really?

  • 12 votes
#4.1 - Wed Feb 22, 2012 8:05 PM EST

Anytime someone doesn't agree with Obama or his left wing supporters, they are labeled haters or racist. I saw a montage on what the liberals were saying about President Bush in 2008 when gas prices were at or above $4.00 per gallon and how he was protecting his big oil buddies. Now the shoe is on the other foot and everyone is to blame except Obama.

  • 12 votes
#4.2 - Wed Feb 22, 2012 8:23 PM EST

Oil prices no longer fluctuate by supply and demand. They are now determined by gambling on the futures. In order to make money on money as the Republicans have entrenched into our economic system, the only way to do this is to have real or perceived instability in any market. Call this for what it is "Gambling". If a real threat to any supply is not present a perceived threat needs to be in place. Getting America afraid of Iran or a disruption in supply allows them to bet that oil will rise in cost, then take out insurance on that bet. This is the real economy now and everyone must get used to it. Repbublicans pushed this for the last 20 years and the Democrats let it happen. Our economy is now based on gambling and that is why gas prices rise. If the threat never happens we pay the cost for the gambling anyway. This is not Obama's fault, it is every lawmakers fault.

  • 9 votes
#4.3 - Wed Feb 22, 2012 10:28 PM EST
Reply

Thanks for answering my guys, but when you say people have it worked into their budget it means they have to do without something else.

When people have to adjust their driving habits and their lives to deal with high gas prices, they remember it.

People flat out don't have the discretionary income they use to have.

Unemployment is only factor for the unemployed. 8% or 9% only means something if you are part of that percent.

Everyone buys gas.

After a summer of getting killed at the pump, people are going to be pissed.

You all blamed Bush, it's time to blame Obama for something he and Chu said they wanted to happen.

Quit with the excuses for Obama. Being President means dealing with tough things. Wars, Oil Spills, Europe.

So far Obama is failing on the things that directly effect most Americans.

  • 13 votes
Reply#5 - Wed Feb 22, 2012 9:01 PM EST

Congraulations on having your question selected.

  • 3 votes
#5.1 - Wed Feb 22, 2012 11:38 PM EST

My God, I remember the gas lines during the Carter administration. We have been dependent on mid east oil for forty years. At least, President Obama has tried to accelerate the development of new technologies. What did Bush do? Oh, yeah, attack Iran's natural enemy, Iraq. Yeah that helped.

  • 2 votes
#5.2 - Thu Feb 23, 2012 9:46 AM EST
Reply

You can spin it any way you want, but those of us who do not have our head stuck up our @$$ know that President Obama does not control the price of oil.

Oh...and blame Obama if you have inclement weather tomorrow also.

  • 7 votes
Reply#7 - Thu Feb 23, 2012 12:32 AM EST

WAKE UP Shelby, this is how YOUR president has effected gas prices:

Obama was held in contempt of court for illegally obstructing oil drilling in the Gulf of Mexico.

The Obama administration threatened a proposal from House Natural Resources Chairman Doc Hastings (R-Wash.) to expedite oil and gas leasing and energy infrastructure permitting in the ANWR Alaska reserve could force Federal Regulators to EXPLOIT environmental laws and includes a costly, redundant resource assessment.

Obama supported the Arab Spring which ultimately sent gas prices higher.

Obama rejected a rapid approval of the Keystone XL pipeline from Canada to Texas.

WHY WOULD ANYONE THINK THAT OBAMA SHOULD BE HELD RESPONSIBLE FOR RISING GAS PRICES?

THESE ATTACKS MUST BE RACIALLY MOTIVATED.

  • 6 votes
#7.1 - Thu Feb 23, 2012 6:55 AM EST

WAKE UP Shelby, this is how YOUR president has effected gas prices:

As you can see, my eyes are WIDE open. I can't see YOUR eyes ssmithlg(got something to hide?). If the law is after you, I promise I won't tell. First of all, if you are living in the U.S., President Barack Obama is YOUR president also. Just can't seem to wrap YOUR head around that, can ya? It just rankles you to no end.

I appreciate a president who is concerned that we don't have another BP oil catastrophe. If you want to continue to drive your SUVs, full-size sedans, then stop whining.

I have a great suggestion for you, since the Amish have NO problem getting around with the horse and buggy, ask them if they'd help you out. Tell them your sob story about how you wish gas was .98 a gallon and that it's Obama's fault it's not and you're gonna go waaaaah! waaaah!, until that mean ole Black man is out of the White House(and remember, you brought up "RACIALLY MOTIVATED," not I.

Americans are going to pay whatever the price for gas is set at because we are an oil glut nation. You don't want to pay it, sell your vehicle, put blinders on a horse and get going!

Giddyup!!!

  • 3 votes
#7.2 - Thu Feb 23, 2012 1:50 PM EST

Ms. Courtland, BRILLIANT RESPONSE on all counts!! It also bothers me when ignats like ssmithlg say 'your' president as if to imply that he's not every single American's president. While I disliked the vast majority of President George W. Bush's policies, he was still my president.

ssmithlg is the type that complained bitterly about President Obama's administration's response to the horrific oil spill in the Gulf of Mexico ("they got there too late", "they should have/shouldn't have taken control over stopping the spill", etc.) and then is the first to further gripe and moan about not opening up more areas to oil exploration until there's some understanding that is safe to do so. So two-faced they can give themselves mouth-to-mouth resuscitation!

As for the Arab spring, that too is President Obama's fault? Nevermind the fact that oppressed people in many, many different Arab countries finally rose up against decades of abuse and mistreatment. Nevermind that except for Libya, the US had absolutely no involvement in the uprisings. Oh, and on Libya, without putting ONE SOLIDER'S life at risk, President Obama (I just love repeating that title. It gets the likes of ssmithlg's panties in a knot!) was either (i) given no credit for assisting the rebels in their overthrow of the regime or (ii) accused of "leading from behind". And often both criticisms from the same person! Absolutely incredible. Oh, and you know how much oil the United States imported from Libya in 2010? Less than 1%! But don't let facts get in the way of the story.

And the Keystone XL pipeline project? Really? How was that project supposed to reduce oil prices? It's a pipeline to transport heavy oil from the source to a refinery. Once refined, and then located at a port city, it is a commodity like any other and can be transported/exported wherever. Oh, and sold at the then prevailing world market rate for refined oil, gas, etc. It does NOTHING to reduce oil prices for the United States unless because of supply and demand the oil prices are lower. (I think ssmithlg is getting his Faux (rhymes with "blow") News talking points mixed up.

Oh, and on a grammatical note, ssmithlg, it's "affect" not "effect". To affect something, in this case, is a verb meaning “to produce an effect, to influence”. One way to remember the difference is that the "a" comes before the "e" in the alphabet (no, really, take my word for that. Not that I'm concerned you'd actually look something up that you didn't know.) So you affect something, and the result is the effect.

You can have your opinion.  That's your right.  But you can't have your own facts.  That's just wrong.

  • 3 votes
#7.3 - Thu Feb 23, 2012 3:18 PM EST

That's your right, bravo!!! Oh, I understand only too well what's behind the likes of the ssmithlgs of this world.

They make it too easy for us. I feel sorry for em.(NOT).

BTW, thanks, I enjoyed your informative and factual post.

Shelby

  • 1 vote
#7.4 - Thu Feb 23, 2012 3:44 PM EST

Shelby,

It was clear to me that you understood the likes of ssmithlg (wish I could state that without having "likes" and it's name in the same sentence! ;-)) And I agree, reserve your pity for those that are at least well-meaning. While ignorance can be overlooked there's an obvious mean-spirited, ill-intent in such posts. Be well and I look forward to your future posts.

TYR

  • 2 votes
#7.5 - Thu Feb 23, 2012 4:15 PM EST
Reply

You can spin it any way you want, but those of us who do not have our head stuck up our @$$ know that President Obama does not control the price of oil.

Oh...and blame Obama if you have inclement weather tomorrow also.

  • 5 votes
Reply#8 - Thu Feb 23, 2012 12:33 AM EST

There is no spin to it. It's a hard cold fact that gas prices have almost doubled on Obama's watch.

I thought he was looking out for the middle class? It's clear that was a lie too...

I HOPE we CHANGE the President in November!!

  • 5 votes
Reply#9 - Thu Feb 23, 2012 6:07 AM EST

Obama was held in contempt of court for illegally obstructing oil drilling in the Gulf of Mexico.

The Obama administration threatened a proposal from House Natural Resources Chairman Doc Hastings (R-Wash.) to expedite oil and gas leasing and energy infrastructure permitting in the ANWR Alaska reserve could force Federal Regulators to EXPLOIT environmental laws and includes a costly, redundant resource assessment.

Obama supported the Arab Spring which ultimately sent gas prices higher.

Obama rejected a rapid approval of the Keystone XL pipeline from Canada to Texas.

WHY WOULD ANYONE THINK THAT OBAMA SHOULD BE HELD RESPONSIBLE FOR RISING GAS PRICES?

THESE ATTACKS MUST BE RACIALLY MOTIVATED.

  • 2 votes
Reply#10 - Thu Feb 23, 2012 6:52 AM EST

Obama HATES the Gas, Oil & Coal Industries and is doing everything he and his "green campaign contributors" can do to destroy those industries. For those that don't think the president can effect gas prices.... watch what he will do in August to drop the prices at the pump to look like the hero just before the election.

Obama has WASTED BILLIONS of tax dollars on a FAILED U.S. "green energy" industry (ie Solyndra, etc, etc) and has done everything within his power to destroy the "evil" oil industry that SERVES US ALL........

NOBAMA2012, the END of an ERROR

  • 3 votes
Reply#11 - Thu Feb 23, 2012 8:35 AM EST

And at the same time he has opened more lands for exploration, has granted more drilling permits and permitted more offshore drilling. More rigs are pumping mmore oil now than the last eight years. The facts expose your post as uninformed and partisan.

  • 2 votes
#11.1 - Thu Feb 23, 2012 8:50 AM EST

Obama HATES-------------------,I'm not sure,maybe the TEATARDED POLITICIANS that are just hoping the AMERICAN economy fails.Why in hell don't all the TEABAGGERS scream for an INVESTIGATION into the rising cost of fuel? Y'all control the H.O.R.get on the phones or net and demand action,could it be the teabag leaders have no interest in saving the American working class and poor from more economic suffering.Their view is all of these American people want is another government hand-out. I would guess the TEABAGGERS don't have the POLITICAL BALLS to stand up for the working poor against, THEIR{ oil&gas CEO,s} puppet masters.WAKE UP !, TEE-dumb BAGGERS

  • 1 vote
#11.2 - Thu Feb 23, 2012 8:56 AM EST
Reply

Wasted Billions, how about flushing them down the toilet.

The left is quivering because it will come out that their two faced president will persecute the oil and gas industries whether by pushing for price decreases or letting them stew over increases at the peoples' expense. His green job cronies must be the only ones donating, how interesting Solyndra gets bonuses approved by the Bankruptcy court. Oh yeah and this could have easily been influenced by the administration because not all judges drive mercedes and have millions in the bank; some of these guys actually need their jobs to pay the bills.

There is a very easy solution to obtaining some control over high gas prices, push legislation through that automatically suspends the federal gas tax when the price reaches a certain threshold and institute a federal income tax credit for state gasoline taxes paid during that time.

Go after price gougers, get the refineries put back online and let the pipeline go through to have supply that will keep pace with demand. Until then, you don't need to bully on national television, when there is actually something you can do; but oh no, BO won't let any money stop flowing in except for the social security trust fund which has less intake and oh yeah, no reform.

If the federal government were a private business under Obama, it would have gone through chapter 11 restructuring and been a shell of it's former self with a new company formed while he sat on the street crying with Corzine.

  • 2 votes
Reply#12 - Thu Feb 23, 2012 9:00 AM EST

Why do any actions suggested by those from right always add to the deficit? Just so you can turn around and scream that Obama is running up the debt?

When will you guys admit that that pipeline WOULD NOT lower prices or increase supply at the pump?

When will you guys admit that oil is a finite commodity nearing the end of its supply?

When will you guys get serious about alternative fuels?

    #12.1 - Thu Feb 23, 2012 9:40 AM EST
    Reply
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