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The Gingrich campaign today released a new advertisement outlining Newt’s "$2.50 plan" to lower gas prices.
“Since Barack Obama’s inauguration, gas prices have doubled,” the narrator says in it.
As an image of a gas pump appears with a price ticker hitting $4, the narrator adds, “They didn’t go down when Obama bowed to Saudi oil princes. But they can go down under the Newt Gingrich two-fifty-per-gallon plan."
According to the ad, Gingrich's plan lowers gas prices by “increasing domestic production, opening up off-shore drilling, building the Keystone Pipeline, cutting red-tape regulation."
At the end, an image appears of a gas pump nozzle pushed up against a man’s back like a weapon. “The Gingrich two-fifty plan stops the great gas hold up and puts money back in your pocket,” the narrator says.
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Who would have ever thought that the evil Gingrinch monster might have a better idea than Barry's Energy secretary that has wasted billions of taxpayers on flying unicorn and fairy dust solar daydreams???
President Obama warned us that the GOP Presidential's would start with the $2 gallon Gas Tale. And of course, Mr. Grinch obliges.
c/o Dennis Ohio today: Gasonomics 101:
Drilling does not affect gas prices at the pump despite rhetoric.
Gas prices are not a function of how much oil is drilled in the US versus how much is drilled in the world. Oil prices are set on a global level.
Gas prices are the result of three factors: global price of a barrel of oil [which includes speculation], state and federal taxes, and gas supplies coming out of refineries (capacity / shut downs).
Thanks Dennis!
Sorry, Nasty Redhead. I thought FR automatically defaulted your posts to number one.
My bad. :~)
Newt is a simpleton. Backhouse sets the record straight. He will never have to follow through on this farce because he will never be President of the United States. Unicorns and fairies must have baked Newt's crackpot energy ideas up. Actually it sounds like the work of his cousin, Rumpel Stiltskin.
International Business Times Feb 24, 2012: Gasoline demand plummeted -- down 5.4 percent, or about 500,000 barrels per day, from a year ago, marking the 24th week in a row that year-on-year demand is lower.
http://www.ibtimes.com/articles/304040/20120224/rise-u-s-gasoline-prices-wall-street.htm
According to the USEIA (US Energy Information Agency), domestic production declined during the Bush administration. It was 5,000,000 BPD (barrels per day) when Obama came into office. It is now 5,500,000 BPD, a 10 % increase.
http://www.examiner.com/economic-policy-in-national/u-s-oil-production-increased-10-under-obama-major-oil-discovery-gulf
Half a million barrels a day increase in production. Half a million barrels a day decrease in use.
That is an extra million barrels of oil available every day !!
Under President Obama, American dependence on foreign oil has diminished to 45%.
Under President Bush in 2006, we were using 60% foreign oil.
Now for the first time in over 60 years, the USA is a net exporter of oil and related products.
Last year, AMERICA EXPORTED 439,000 more barrels of oil than we imported.
More drilling will not reduce gas prices.
We are loaded with oil, the most productive in 8 years. So why all the talk of prices going up?
Partly because Koch Brothers and other oil moguls are selling our oil to other countries.
They figure they will make more money selling US overseas, than to Americans.
As of one year ago: Let's start with America's oil consumption, which is 18.8 million barrels per day (MBD), according to the EIA. That usage puts the U.S. atop the list of the world's largest oil consumers by a wide margin. Indeed, U.S. demand is more than that of the next four nations combined: Japan, Russia and rising economic powers China and India:
U.S : 18.8, China: 8.3, Japan: 4.4, India: 3.1, Russia: 2.7. The U.S. by itself consumes 22% of the world's oil supply.
Also the U.S. is still the No. 3 producer of oil in the world.
http://www.dailyfinance.com/2011/02/28/surprising-facts-about-us-and-oil/
WHERE IS "PORT FROM JACKSMOUTH"???? He owes me $$$. After he made that comment earlier today saying that "Feisty makes intelligent and thoughtful posts", I laughed so hard I broke two ribs! In fact, I'm laughing again and....uh oh.....Feisty...intelligent...HAHAHAHAHA...UGH HAHAHAHAHAHAHAHAHAHA!!!! oH MY gOD! mY OTHER RIBS!!!!! hahahahahahahahahahA!!!!!!!!!!!!
Joe...Feisty is most likely on another thread stomping on wimpy puss trolls like you! Hard to keep up dontcha know!
Dennis,
And of course you know that you are leaving out the part about how it's a 4-5 year process from plans to approval to drilling to production .... how all that great production we have now is the result of actions taken during Bush - not Obama.
And of course you know that 12-15 million out of work, a stagnant/depressed economy kinda cuts back on demand.
Exceptionally high gas prices under Obama kinda effect demand ....
Bottom line ... Gas prices peaked at $4.12 in 2008, Bush opened up drilling and gas prices fell to $1.61 within 5 months.
Bush DROPPED THE PRICE $2.51 TO $1.61!
Historical fact.
Btw - gas is a commodity with much of the pricing being on futures - future supply which Obama has crushed and future demand which will skyrocket if we ever get out of Obama's worst economy since the Great Depression.
One last fact about price.
Obama's own Secretary of Energy is on the record for having stated they are doing nothing to control price.
Obama's record has demonstrated he has done everything he can do to to destroy future supply.
Nice try at deflection though.
If Newt has a plan to deliver $2.50/gal. gasoline, I'm sure the petroleum companies would like to hear about it...I mean, after all, Newt will need their cooperation in going along with this farce, right bOb?
In any event, if Newt had the answer to $2.50/gal. gasoline, I'm sure, just like Michelle Bachmann was so eager to do, he would share it with the world, and be the hero...right?
Hell...I'm sure he'd get TONS of votes if he were the GOP nominee, right bOb?
Yeah...Newt the hero...Superhero, actually...right bOb? I mean, he can control the petroleum companies, right bOb?
Capitalism...ain't it great!
bob-180,
Yes bob it is a long-term process and that is why our President said there is no short-term fixes.
Question - With production (give whoever credit) up and demand down to a net increase in availability of a million barrels of oil every day why is the price still going up and what can be done to stop/slow the increase this year without opening our reserves?
Answer – The single biggest thing would be to stop talking about going to war with Iran.
Newt better be careful what he promises people...especially the mentally ill conservatives.
Joe in Albany
If presidents had power over gas prices, why did a gallon hit $4.50 under the oil-friendly President Cheney...I mean Bush?
Mickey, NY
After Newt fails to be the nominee (it's not a question of "if" but "when") he can be the "historian" for the oil industry.
Oh, if it were so.
But it is not.
The premise that Newt can create $2.50 a gallon gas is just as false as holding President Obama directly responsible for today's prices.
Sounds good, though. Gas prices could be a huge factor come November, and I see candidates from both sides exploiting this factor to the max.
Opening the Strategic Reserve was a mistake, did little to ameliorate fuel prices. I hope President Obama does not do that again. Government should not be involved in price controls, for crying out loud as a self-avowed conservative Mr. Gingrich ought to know better than to throw out vacuous crowd-pleasers like this. Likely he figures he has nothing to loose at this point.
Gingrich's words are the ravings of a desperate man who is running a very poor third in a four-horse race. He is telling any lie that the right wing lunatic fringe can cling to in the face of an inevitable, overwhelming Obama victory in November.
Delusional at best. Turn the station don't listen to the bs.
Don't_carry,
Therein lies the secret to neutralizing the influence of superPACs, obnoxious television personalities, et cetera - the "off" position of the power switch. Stops 'em dead in their tracks and there is nothing they can do about it!
Reminds me of the "Max Headroom" episode where the authorities were amazed they found a TV that actually had an on - off switch.........
Mark,
When the GOP primary was in my state (Florida), we watched a LOT of movies or just kept the tv off and read a book. Worked like a charm!
LOL! Mark -- Thankfully I don't watch a whole lot of tv, but when I do if one of those ads come on I switch channels immediately. It's getting annoying so I can't wait for this election season to be history.
BTW -- Love your web site. Pretty good pics...is that your work?
Til next time friend!
Dont_carry,
That's my work on my site. Thanks for the compliment!
Have a great weekend.
phine,
I just do not pay much attention to TV news (and pseudo news). I realize that sounds stuffy and elitist but I just can not stand most of the talking heads. Not that the information in print is any more valid than that being put forth on TV, but I seriously believe the act of reading (newspapers, websites) engages the brain more than TV and forces one to be more critical. That being said, I do enjoy Stewart and Colbert. Not so much news, but topical.
A good weekend to you too!
Attention America! "Nutty Newt" has escaped from the mental hospital. Again! He has been acting up during the group sessions. Again! His doctors warn that he is very upset, and is on very powerful medications.The doctors were trying to tell "Nutty Newt" that as crude oil prices go up. So will the price of gas. "Nutty Newt" after hearing this economic fact started rolling on the ground, and barking like a dog. After been given tons of different medications. "Nutty Newt" was allowed to sit in the lounge and watch his favorite Star Wars Movies because he was starting to behave. Then the doctors told him that he must stop telling fictional stories of cheap gas prices, and his drilling on the "Moon" ideas. "Nutty Newt" does not comprehend the fact that the President does not control gas prices. It is the market price of crude oil prices that dictates gas prices. That is fact! "Nutty Newt" is not allowed to go outside anymore because he insists on drilling for oil in the middle of the yard. "Nutty Newt" is wondering in the South riding on his tired old GOP/RNC Elephant.
One thought that "Nutty Newt" is spewing about his new $2.50 drug plan that helps him with his current colon problem.
Supply and demand isn't the problem.
Industry regulation isn't the problem.
It's a global market and the global market sets the price. Now, tell me, Newton, are you just going to do some kind of Jedi Mind Trick on the commodities traders or what?
This is just another example of making big promises in the campaign, and then discovering once you become president, that it is not possible for a President to deliver on the big promise. Newt should actually know better, but I honestly think he doesn't care. He'll just make the promise anyway, just to get the votes.
Hey! Great news everybody! I have a date tonight with some chick named Sandra Fluke. Although it kinda sucks. She has to leave early because at 10pm she has a date with the Ohio State basketball team. Oh well..... Wish me luck! I doubt if I'll need any!
Gee Damage..It must SUCK to be you! Then again you do know all about sucking now, don't you? At least that's what your mother told me!
In you guts you know he is nuts.
Gingrich, a new idea, really? Drill baby, drill. Drill, drill and keep drilling; open up the National Parks, the Wildlife Refuges--extract every ounce and who cares about the environment or the future. Oh, and by the way, Newt, the States control a lot of the off-shore drilling along their coasts. Ask Florida and California how they feel about that.
Thanks, but no thanks, Newt--I prefer that this country take the $4 billion in corporate welfare we taxpayers give the oil industry and invest it in research for alternative fuels--alternative, clean and renewable sources because waiting until the oil is gone is the equivalent of stupidity. I prefer President Obama's approach: "all of the above" from oil, to gas to wind to solar to biofuels! I prefer a a future for our children and grandchildren the GOPers are always talking about but one with clean water and air, one where we preserve the beauty of this land and the sea; and that requires thinking about the future beyond oil.
Uh, little bob numbers--one of the reason gas prices fell in 2008 was the economy collapsed worldwide thus putting the skids on speculators driving up the price. President Obama's administration has quad-drupled the permitting of oil drilling. I do find it amusing when the right-wingers try to claim credit for President Bush every chance they can whether it is the price of oil or killing Osama bin Laden yet they couldn't run away from him fast enough the last 3 years. Sorry, bobbers, that dog won't hunt.
The gremlins are back; this is regarding post #1.9.
Newt is really depending on the STUPIDITY of the People he is talking to at the Moment and a big push from the MEDIA to get his BIG LIE OUT about why Gas is GOING UP.
Newt will also get a fare amount of the Independents and weak Democrats who want to blame the Gas Crisis on the President.
How many times have Gas prices been MANIPULATED by the Oil and Gas Industries on prices FOLKS? Think. Every time one of the Oil Producing Countries decides to pick up their marbles and don't want to PLAY, THE INDUSTRY decides to Squeeze us on the Gas. With Iran going bonkers and threatening to Cut off Europe, what did anyone EXPECT a different outcome?
But it is easier for the Republicans and their Candidates to BLAME the President, especially in an election year, and the MEDIA GOES RIGHT ALONG with them Repeating it every 5 minutes. The public would be better served if the MEDIA would Investigate who is REALLY DRIVING UP GAS PRICES, instead of letting Republicans Lie About it so they, the Media can treat the Election like a Spectator Sport.
I will nominate Damage123 as one of the stupid people. he obviously listens to Rush 24/7 and has no idea what really goes on in the world outside of his basement.
He obviously thinks he is so clever coming up with his remark about Sandra Fluke. What a wanker.
This @!$%# couldn't get lucky in a whorehouse with a fist full of dollars!
I'll tell ya what Newt. You make very public the details of just how you would do that instead of making Americans suffer until next January before we find out. You'll get the credit and maybe garner some votes. If you don't have a real plan you might want to check your pants as they might be on fire.
Energy independence will only lower gas prices in conjunction with more regulation, not less. Everybody knows this. You'd have to protect domestic supplies from the international market and curb speculation.
Love it that Gingrich is promising to bring back $2.50 per gallon gas. His whole campaign has served as his own personal nostalgic tour of 20th century politics. References to moon challenges and Laffner curves and Saul Alinsky. At any moment, I expect Gingrich to break out in a "historically and fundamentally bad" version of Billy Joel's "We Didn't Start the Fire." For a few bi-partisan laughs involving past and present political figures, check out this funny YouTube video about "Obama's Secret Service" --