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What's the real answer to rising gas prices?
March 19th, 2012
02:05 PM ET

What's the real answer to rising gas prices?

FROM CNN's Jack Cafferty:

The gas price saga is like the movie "Groundhog Day."

We've been here before. Many times.

President Obama says gas prices make things harder and Mitt Romney says Obama wants higher gas prices.

When gas prices get to a certain level, it becomes the president's fault.

Happens over and over. The president's response (doesn't matter who the president is - they all do the same thing).

Name a commission to look into speculation, call to release oil from the strategic petroleum reserve. (That's not what that oil is meant for).

And threaten to remove the subsidies enjoyed by the big oil companies. (The subsidies are never touched.)

Sometimes some oil is released from the strategic reserves. Sometimes this results in a temporary decline in gas prices. Small and temporary.

The commissions looking into speculation don't do anything. They discover there is speculation - super sleuths that they are - but we already knew that. It's like the government commissions to reduce the deficit or cut spending. Meaningless.

And if you think the government is going to get aggressive cutting oil company subsidies in an election year, you're dreaming. You know how much money these outfits donate so their subsidies are left alone?

It's all a three-card monty game designed to lure the sucker citizens (you and me) into thinking the government really cares and is actually doing something meaningful.

Nothing is further from the truth.

We'll pay the higher prices until the market decides they're high enough, and they turn around and come down. That's how markets work - as opposed to the government, which doesn't.

Here’s my question to you: What's the real answer to rising gas prices?

Interested to know which ones made it on air?

Ken in Atlantic City, NJ:
Greed and speculation. Obama needs to stop talking and nationalize the oil refineries. If he can order the assassinations of Americans, jail Americans without trial, bomb countries without congressional approval, then he can also do something about the upcoming $5.00 a gallon gasoline.

Patriot:
Since there was no winter and fuel oil sales were in the dumpster, greed took over and the big oil companies screwed us again making up their lost revenues by increasing gasoline costs.

Larry in Georgetown, Texas:
There few things that could be done. Another major recession. Quit driving, get a bike, or better yet walk. We could also have the Army invade the oil companies and take them over. Other than that, greed is legal and the free market wins, it's the American way.

Pete in Florida:
The real answer is, "suck it up, folks." There are many ways car drivers can cut their usage, improve their own personal fuel economy and thus spend less on gas. Get used to it people…and learn how to help yourself. Because long-term, it's only going to get worse.....A LOT worse.

Tom in Desoto, Texas:
I don't believe there is an answer to higher gas prices; it’s like trying to put toothpaste back in the tube. We are catching up to the rest of the world realizing the cost.

Charley in New Mexico:
For once you and I are in agreement. To answer your question, I use the car as little as possible, and do all my shopping, etc. in one trip. The less gasoline I use, the better I'm able to afford to eat this month.

Mr. D:
Apparently the groundhog saw his shadow and we are in for many more weeks of high gas prices. Blocking the sun from the groundhog never seems to work for Congress, along with much of anything else.

Louis:
Lease a horse.

Posted by
Filed under: Gas Prices
soundoff (194 Responses)
  1. ImALibertarian

    From near Houston, TX

    Cut down on your use of petroleum products.

    March 19, 2012 at 12:58 pm |
  2. raphael

    although this is unpopular I think the US must combat Iranian threats anyway possible!

    March 19, 2012 at 1:01 pm |
  3. Mark from New Jersey

    It used to be that speculation acounted for 20-30% of trade in oil, and around 70% was from people who actually are end-users, like gasoline and diesel producers, airlines, power plants etc. Today, around 70% is speculation investment with end-users accounting for 30%. Maybe we should ban speculation in oil, and mandate those that invest in it without any intention of ever using it be forced to drink it. That might change the picture a little, and reduce the costs of a gallon of gas by .50-.75 cents immediately.The very thought of these rapacious traitors being forced to drink a quart or two makes me smile.

    March 19, 2012 at 1:04 pm |
  4. George in PA

    Carpooling as we've rewarded in past instances of this tired old play!

    March 19, 2012 at 1:04 pm |
  5. raphael

    that is the threat, all the threats that Iran place on the transit of oil throughout the Straits of Hormuz is instilling fear in the oil market. also several refineries are out all that translates the fear into higher prices of oil. think of what someone in Europe is paying for gasoline. much higher than in the USA

    March 19, 2012 at 1:05 pm |
  6. Daniel Travis Parker Colorado

    Stop over taxing the stuff, think how many times its taxed before its even at the pumps. We have state and federal taken out of our earned income already. Stop over taxing, take taxes of the cost of fuel at the pumps.

    March 19, 2012 at 1:07 pm |
  7. pierre glenn

    These politicans lies abt they will lower gas prices, it would nt happen under republicans either. But wht really sad the american people believe wht lies telling abt wht they can do abt gas. are the american voters tht foolish an naive believe tht. if so our society is really fool by the smokin gun. pierre glenn columbia mo. thank yu

    March 19, 2012 at 1:08 pm |
  8. Bizz, Quarryville Pennsylvania

    The real reason behind higher gas prices are because of a certain group of people called speculators [but I have another name for them] that see an opportunity to make a lot of money on rumors of war in the Middle East. They have us over a barrel no fun intended.

    March 19, 2012 at 1:08 pm |
  9. Randy

    ALL oil coming from federal lands must only be sold in America. That also would have to apply to refined products because we know how sneaky certain people on wall street are.

    March 19, 2012 at 1:08 pm |
  10. Charles, Lansing, Michigan

    The simple answer is to let Iran go ahead with its nuclear development. It will be much mo;re responsible than Pakistan or North Korea, which already have the bomb. The best way to;keep the peace isw for everyone to have the same power. Then when the plrice go;es do;wn this gutless Co;ngress should add a do;llar on the fuel tax and put thousands to work on the bridges and highways.

    March 19, 2012 at 1:11 pm |
  11. John from Alabama

    Jack: It is the old law of supply and demand. A billion Chinese and a billion Indians have decided to start driving cars to work instead of a bus or train. This added demand has risen the cost of oil, and our refineries in the United States have slowed down refining oil into gas. The supply of oil is there it is being used by the demand of Asians. Oil is a commodity like corn is a commodity in the free market place; therefore, the price is decided by what the market will bare.

    March 19, 2012 at 1:13 pm |
  12. Paul From Austin Texas

    Two words natural gas. Convert our gas using vechiels to natural gas. We have more natural gas than the middle east has oil. It is time for the change why not now.

    March 19, 2012 at 1:16 pm |
  13. Antoinette Lady Alma Google of Avalon - Meijrink

    As we Humans were the first born Creation the second birth looked the same in mimicri. However as it is mimicri and not created in Gods Image, will we have to step up security by gene verification to weed them out of the board rooms. It is a matter of logic . The price policy rests on drive coming from a Soulless Spiritless Creature, conspiring in a lost cause for Control of Global Economic Processes, that worked in a mechanical Universe but become ejected in a Digital Universe. Natural Evolution can only accelerate and speed up the proces with Internet as the supplyroutes for ammunition. Cheer up Jack. It's tomorrow before you know and we can breath up again, take a stroll through the park get into our car and drive home on the Solar battery that doesn't need a recharge.

    March 19, 2012 at 1:17 pm |
  14. Canto Lee

    China alone is projected to add 30 million vehicles per year. There are only two answers to America's rising gas prices: 1) Nationalize oil and gasoline which republicans are against because it's socialism. Or, 2) Buy cars that use alternative energy sources such as biodiesel, hydrogen, natural gas, or electricity. If you bought a gasoline powered car in the past five years, blame yo-self!

    March 19, 2012 at 1:18 pm |
  15. Paul P.

    Wall Street Reform limiting speculation on oil would help curb some of the volatility, but that requires courage and resolve and that isn't likely to happen. But the only real answer is moving past oil dependancy into new forms of energy, its not the popular answer because it isn't immediate or easy. It requires courage and resolve too.

    March 19, 2012 at 1:20 pm |
  16. Eric - Houston

    The answer is simple, though not easy, we should adapt our personal and national economy to be less energy intensive. Certainly some day there will be significant technological innovations and that is great, but using less to keep warm, get around and to produce is the real answer. That said, I have no sympathy for the politicians, for when you blame your predecessor for bad times and take credit for good times, I am not interested when you try to duck your own bad times and while little can be done to day for today's energy security and prices, little is also being done for tomorrows and that is their fault.

    March 19, 2012 at 1:21 pm |
  17. Mel - Houston

    Simple, get rid of speculation. Right now we have someone waking up in morning saying "I spek-u-late oil is goig to be $150 dollars today and there is nothing to stop him from making it happen.

    March 19, 2012 at 1:21 pm |
  18. Pete in Georgia

    Simple answer :
    1) Greed
    2) Corruption
    3) A stubborn, naive, and clueless American Gov't. administration.

    March 19, 2012 at 1:22 pm |
  19. Bill of New Mexico

    The world is still using the fossil oil (it is not being made anymore.)

    The easy fossil oil to get has been gotten.

    The remaining fossil oil is difficult to get and will be much more expensive.

    China and India's economies are booming as well as their consumption of fossil oil.

    Oil may be made from from coal, but the process costs several factors times as much as present fossil oil.

    Oil made from algae will be even more expensive than oil made from coal.

    Except for Brazil making ethanol from sugar cane, the production of ethanol is a wash (it takes a gallon of fuel to make one gallon of ethanol, plus ethanol costs are higher and require subsidies.)

    There is only once direction for the price of fossil oil to go; and this price is going to accelerate like a rocket at take-off.

    March 19, 2012 at 1:26 pm |
  20. Ed from California

    I think a "simple' answer might be for our Federal government to go into the oil drilling business on federal lands and sell the gas at cost to the general public. In order to do that though our government would need a bunch of refineries and a whole fleet of gas stations to dispense the fuel to all of us. That as you can guess is nearly impossible to do, and very expensive. So, whether it's legal or not, our government needs to take over an oil company, either by eminent domain or nationalize one, or all of them. The point being we need to take one with oil refineries and gas stations, that are already in place. Which one doesn't really matter...(except, I'd like to see Charles and David Koch's enterprise taken over. This way it takes care of so many pesky bugs). By taking an already existing business we'll have the highly experienced people that actually drill for oil and refine it, deliver it, and sell it in place, and are already working for that particular business. So, no interruptions. If the president won't control the F.C.T.C...then Nationalization under the banner of, "National Security" will always do in a pinch.

    March 19, 2012 at 1:28 pm |
  21. DT - Saint Paul, MN

    You will NEVER get prices below what people are WILLING to pay. Ever. Its simple economics. This is why the intelligent people in the room want to nationalize it. Take profit off the table, it'd be a buck a gallon.

    March 19, 2012 at 1:32 pm |
  22. Michael Bindner, Alexandria, VA

    Position Limits in the oil futures market, which are currently being litigated in the federal courts because Wall Street is objecting to them. Obama needs to use the bully pulpit and mention these things. The media needs to point out that the Kochs are bidding up the market in order to create a liquidity crisis just in time for the election.

    March 19, 2012 at 1:34 pm |
  23. Karl in Flint, MI

    There is no answer, we just pay the price or stay home. No president can do a thing about it, Romney is an idiot and the people that believe him are even bigger idiots. It's call capitalism on the global market. Unless we are willing to nationalize the oil companies, not very GOP, and put the government in the oil business, shut up. Perhaps that's Romney's energy plan, have Bain take the oil companies over, bankrupt them and then bail them out with federal funds, you know like the auto industry, and voila, WE own the oil companies and problem solved.

    March 19, 2012 at 1:38 pm |
  24. Charley in New Mexico

    Well said Jack... For once you and I are in agreement. You did miss one thing though. As the cost of gas increases it impacts the cost of everything that is transported on the roads. Yet despite this obvious fact , the government will insist that the cost of living is NOT increasing. (My favorite government PR qoute, "The cost of gasoline decreased when seasonaly adjusted...")
    To answer your question, I use the car as little as possible, and do all my shopping etc. in one trip. The less gasoline I use, the better I'm able to afford to eat this month.

    March 19, 2012 at 1:38 pm |
  25. JD in NH

    Gas prices are not the President's fault. At least that's what the Republicans said when George W. Bush was in office. The problem is primarily the gambling casino called Wall Street. Our domestic supply has increased – we even export oil – and our demand is down because of fuel-saving vehicles. Point the finger at the speculators. There is really little any political leader can do about it unless they're willing to take on their campaign benefactors and close the casino.

    March 19, 2012 at 1:40 pm |
  26. Ray in Knoxville

    Jack, it will take a drop in the demand for gas, through higher MPG automobiles and alternative drive vehicles. Big oil and their henchmen in Congress (and among right wing talking heads) are going to fight that tooth and nail. After all, 19th century technology was good enough for our fathers, it should be good enough for us and our children (and their children.)

    March 19, 2012 at 1:41 pm |
  27. Doug Ericson

    As long as world wide demand is strong there is no short term answer. Longer term we can produce more at home and use less. We could also renew public transportation options. We will figure it out eventually, but in the meantime I expect gas prices to keep nudging upwards. Doug, pepperell, MA.

    March 19, 2012 at 1:44 pm |
  28. jk in MN

    There's not one single fix. First off cracking down on the oil speculators in the market, not allow the oil companies to be so large that they become as tough to deal with as OPEC, the automakers need to develop and Americans need to purchase and drive more fuel -efficient (smaller) vehicles, develop alternative energy sources to fuel cars than gasoline. That would be a start.

    March 19, 2012 at 1:44 pm |
  29. tRiKsTeRgOd

    One word: OBAMA. The most inept leader every created out of thin air.

    March 19, 2012 at 1:49 pm |
  30. David of Alexandria, VA

    There is no answer, Jack. We will be on gasoline for another century. The more we save, the more lesser-developed countries will use and the price will stay high. The best we can do is two things: First, have a realistic,m unicorn-free strategy and time table to develop the replacement technologies, distribution systems, and incentives to make gasoline costs more of an annoyance than a threat. Second, remember that when prices go down, they will inevitably go back up - don't spend the savings only later to bemaon the pain of the increases.

    March 19, 2012 at 1:49 pm |
  31. ken from connecticut

    To say President Obama has nothing to do with it, and can't do anything about it, the most powerful country in the world and greatest economy and most powerful man in the world, President Obama as president, And the only thing he can do is use our precise oil reserves? I don't think so. What is the real answer? . You would think with all of the top economic brains and all of the information they ( our gov't) has pertaining to this, they would have some type of solution. They don't except a phony political one. If their agenda is promoted because of high gas prices, they won't do a thing. If not we will hear a real answer to a solution to these high gas prices. The answer is how you vote in the next election. Unfortunatly that is no guarentee as to any improvement!

    March 19, 2012 at 2:00 pm |
  32. Tom in Desoto, TX

    I don't believe there is "an answer" to higher gas prices; it’s like trying to put toothpaste back in the tube. We are catching up to the rest of the world realizing the cost. Some would have us believe that war is an alternative. (A proven failure i.e. Iraq). Building a pipeline across the country costing billions attempting to suck the earth dry, which would take years, certainly isn't a realistic option. Nor is drilling everywhere in Alaska. There are already thousands of off shore wells in operation. At some point, the earth will run dry. Yet, if “alternative fuel” is mentioned more than just the oil industry scream.

    March 19, 2012 at 2:02 pm |
  33. Brad, Portland, OR

    Prices are high on a global level due to speculators in the market.

    Oil supplies are plentiful, US usage is down, and a greater percentage of US oil demand is met by domestic drilling than any time before in history.

    So it's not a supply and demand problem. Which means releasing oil from the strategic reserve, or constructing the Keystone pipeline won't change the price at all. The Keystone pipeline is intended for exporting oil anyway... there's no law requiring that the oil it carries be consumed in the US, and Republicans in Congress have shot down all attempts to make that the law.

    The only answer is to ban speculation in basic commodities, internationally. If you don't produce or consume oil, you shouldn't be allowed to buy it in the market. That just drives prices up for everyone so a small group of people can make huge profits.

    March 19, 2012 at 2:04 pm |
  34. Jenna Roseville CA

    What's the real answer to rising gas prices?

    Jack this is simple.

    Wall Street Speculators and the GOP drum beat to war with Iran.

    If we could regulate Wall Street again (de-regulated under GW) and stop with the drum beat of war with Iran (which we will not wage) then gas prices will drop at least $1.50 per gallon.

    Will it ever go down to $2.50 or less, probably not, but that is because the world as a whole is using more oil. But there is no reason to inflate the cost on top of that, $1.50 plus a gallon, to harm Americans further.

    And we all know that the Keystone Pipe line is not going to do anything for us since it is oil that is going to flow across our nation to the open free market.

    Jenna
    Roseville CA

    March 19, 2012 at 2:11 pm |
  35. Carla from Alabama

    The answer to rising gas prices (and rising medical costs, rising food costs, rising everything) is government control of pricing. People who aren't willing to see that are just plain unrealistic. RIsing cost is the literal price of a capitalistic society. And those who defend an economy based on greed have no right to complain.

    March 19, 2012 at 2:11 pm |
  36. Ed from Texas

    Reduce consumption. Oh, and stop threatening to bomb every country in the Middle East.

    March 19, 2012 at 2:15 pm |
  37. Richard Texas

    The only real answer is to not be dependent on it but that costs money. Hybrids are not cheap and they only reduce usage not do away with it. Electric cars are fine but after about a hundred miles your walking because you have run out of juice. Electricity isn't free either. Short of mass electric public transportation like street cars and electric trains there is little else we can do. I think the logical thing would be to put people to work in America building street cars tracks and railways in Urban areas and operating them. It will take time for people to agree to any kind of change but most other countries use this type of transportation daily. For a country so far advanced we are very far behind.

    March 19, 2012 at 2:16 pm |
  38. Kevin in CA

    The real answer is this smells, tastes and looks like Enron Version 2.0. Government investigation and indictments for price fixing is the real solution ... but that isn't going to happen.

    March 19, 2012 at 2:16 pm |
  39. Larry Feierstein-Denver

    Here is a three step approach to reduce gas prices- but not to $2.50 and not in a year
    1. A thorough investigation and new laws regarding speculators who manipulate oil prices. This is the biggest piece of the price mystery.
    2. Stop dependence on foreign oil. Start using our own, start drilling more (yes i know we are doing more domestic drilling then ever before)
    3. Implement a 17%VAT for 5 years on all gasoline purchases

    March 19, 2012 at 2:17 pm |
  40. Matt

    Jack
    Apparently there is no answer since the government does nothing, the speculators keep speculating, the oil companies keep earning record profits and we continue to pay up with nothing but a whimper.

    Matt
    Rockford

    March 19, 2012 at 2:18 pm |
  41. Loren

    You say it yourself–speculation. While there is the claim that allowing persons who don't take delivery on futures contracts permits liquidity in the market, leading to long term stability, there is the opposing claim that speculation is unnecessary because the market doesn't need the liquidity due to high demand and limited supply. Regardless, until there is a willingness to put controls on certain financial markets, there will continue to be speculative market rises in every market that eventually lead to disastrous downturns as we have seen over the last twenty years from the deregulation championed by both Democrats and Republicans for the short term goal of more campaign contributions at the expense of the livelihoods of their electorate. Get some backbone Congress and stop operating as if the American people are an afterthought.

    March 19, 2012 at 2:22 pm |
  42. RickFromDetroit

    With the world consuming 85,000,000 barrels of crude oil every day, and the U.S. consuming 25% of the worlds supply or around 20,000,000 barrels every day, and 35 year of FAILED ENERGY POLICIES, I would have to say that the only solution left is to add free "Antihistamines" the Health Care Reform Act.

    NOTE: There are 42 gallons in a barrel of crude oil. [42 x 85,000,000 = 3,570,000,000 gallons a day.] Ah-Choo

    March 19, 2012 at 2:23 pm |
  43. Floyd - California

    The government just talks and does nothing. Why can't that pipeline from Canada go to a refinery at the Great Lakes instead of enriching Texas? Why can't the government set up a WPA to make solar farms and develop natural gas? It is because our government's oil masters do not want that.

    March 19, 2012 at 2:24 pm |
  44. Phyllis G. Williams

    What's the real answer to rising gas prices?

    Could it be that those who do it, do not care about the cries of a nation if
    they can accomplish doing a wicked act and others bear the blame?

    March 19, 2012 at 2:28 pm |
  45. Phyllis G. Williams

    Your comment is awaiting moderation.
    What's the real answer to rising gas prices?

    Could it be that those who do it, do not care about the cries of a nation if
    they can accomplish doing a wicked act and others bear the blame?

    March 19, 2012 at 2:29 pm |
  46. calaurore9

    Newt! He's going to make them go down to $2.50 / gallon.

    Carol in NoHo, Ma

    March 19, 2012 at 2:29 pm |
  47. Kim , Dodge City, Ks

    Jack, that's like asking the junkie to come up with a plan to reduce the cost of heroin. Number one, they can't see past their addiction, and number two, only the dealer has enough for everybody. Too late to fix it now.

    March 19, 2012 at 2:31 pm |
  48. Gary in San Jose, California

    Simple Jack. Competition. Until and unless there is direct competition to gasoline the price will continue to rise. Can you imagine how quickly the price of gas would fall if there was an alternative energy source right across the street from the gas station? Imagine big oil actually having to compete for our business.

    March 19, 2012 at 2:32 pm |
  49. Dr. Michael D. Knox, Tampa

    END U.S. WARS! The biggest user of petroleum products in the world is the U.S. government. Killing people in other countries requires fuel. If we end our wars, the price of gas will fall because the military demand will be significantly reduced. Dr. Michael D. Knox, Tampa

    March 19, 2012 at 2:32 pm |
  50. Steve, NY

    Obviously the answer to the rising gas prices is Obama. He wants everybody to buy a Volt. He has to help out the unions and GM. Of course not many people can afford the 40,000 dollar car but it sounds good. Poor people don't understand that. When he starts using stupid logic like if you drill for more oil, the prices of gas will not go down. Harvard needs to have a logic enonomical course on supply and demand. People are smarter than that, they know when they're being smoked.

    March 19, 2012 at 2:33 pm |
  51. MNResident

    The real answer is that it is EVERY part of the process that adds up to the higher price at the pump. One example: In Bismark ND (where my brother lives) there is a BP refinery that produces ZERO gasoline for the city of Bismark because the refinery can't make the formula of gas that North Dakota requires by law. So all of the gas refined in Bismark is shipped to OTHER states, while Bismark sits at the end of the gas delivery route for fuel from another refinery, and has the HIGHEST gas prices in the state as a result. ANYTHING and EVERYTHING (from supply shortages to refinery problems to the cost of fuel delivery) adds to the price at the pump. Think about it......

    March 19, 2012 at 2:34 pm |
  52. Peg in NY

    Walk. It's free, easy and healthy.

    March 19, 2012 at 2:40 pm |
  53. Ken in California

    What goes up must go higher. That goes for gasoline, and everything else we purchase in the the so called marketplace. Perpetual profits has crippled the average person to the point of economic discomfort. We live in the age where the size of the can, jar, bottle, or package is reduced in size and we pay more for the contents. We are being squeezed for the profits of few, and that is our form of modern day slavery.

    March 19, 2012 at 2:41 pm |
  54. Ken in Seattle

    Regulate the holy heck out of the oil speculators and impose a windfall profits tax on the oil companies. Unlike world wide demand for oil and its impact on pricing, our government can impose control over these two aspects of higher gas prices. This will of course not happen because of the tremendous amount of influence both have over politicians in both parties. Both speculators and oil companies take undo advantage of any worldwide increase in the price of oil, greatly increasing already unwarranted profits and putting significant financial strain on those with limited income and small business owners. Because the supply of oil is increasingly outweighed by demand, primarily from China, we will almost certainly see an increase in the price we pay at the pump regardless of anything the government does. All we can do is limit it.

    March 19, 2012 at 2:41 pm |
  55. Evinia Bruce

    well Jack ..you just enumerated all the things that SHOULD be done ..and rightfully scoffed at any of them taking place ..so do you actually think we suckers out here have any better suggestions? ..the population is at the mercy of the oil companies and speculators ..Wall Srteet .[.as you have pointed out ]..
    ..Oil companies own the government [..both sides .] no one person ..President Obama or whoever can do a twit about it ...it could be big buslenss is trying to make it difficult for Obama's re-election by raising the price at the pump ..but it happenes every year ...unfortunately thanks fo an uninformed public over 50% blame Obama ..as usaul they are just jerking your strings and manipulating public opinion .. let the dumbing down process continue [in high gear ]...
    . as for drilling more oil ..a recent article came out showing countries with a high drilling rate do not fare any better than the USA...... alternatef fuel sources are the answer ...and in that area the US is lagging far behind ......
    B.C. Canada

    March 19, 2012 at 2:42 pm |
  56. Ed from MD

    Horse and buggys followed by street sweeper biodigesters.

    March 19, 2012 at 2:45 pm |
  57. Joe Fattal

    Because American people in general love to drive.

    March 19, 2012 at 2:50 pm |
  58. Gary - Woodhaven, Michigan

    People do not realize that even if every drop of oil used to produce gas was drilled in the U.S. it would have no effect on gas prices as that oil is also put into the world bank and is bought through the markets.

    The problem is oil companies having to much power, the answer to rising prices is to get away from using any oil, but then again we need the useless bought politicians to begin that process, so I guess the final solution is to bend over and grin and bear it until a revolution of some sort.

    March 19, 2012 at 2:50 pm |
  59. Celesta

    They only answer: stop printing money! Our dollar is shrinking in value and as a result everything will go up, up, up!

    March 19, 2012 at 2:50 pm |
  60. Lucas in Bloomington, IN

    The answer is quite simple. Lies and massive greed. The oil market is one giant scam and we are all being taken to the cleaners for it.

    March 19, 2012 at 2:54 pm |
  61. rex in portland, oregon

    The answer is the same as it always was: give the government control over the economy. Simple. Then fire the government when prices are too high. One can't fire Exxon or BP. It might help if solar power were allowed, but that, too, is a government function, since Exxon and BP aren't just about to decrease their own profits.

    March 19, 2012 at 2:55 pm |
  62. Pete in Florida

    The real answer is, "Suck it up, folks." There are many ways car drivers can cut their usage and improve their own personal fuel economy, and thus spend less on gas, but most folks are too ignorant or lazy to do so. Get used to it, people, and learn how to help yourself, because long-term it's only going to get worse.....a LOT worse.

    March 19, 2012 at 2:58 pm |
  63. Larry from Georgetown, Tx

    There a few things that could be done. Another major recession, quit driving and get a bike or better yet walk; We could also have the Army invade the oil companies and take them over. Other than that, greed is legal and the free market wins, it's the American way. The President really has nothing to do with it but the GOP is playing the fear card very well as usual.

    March 19, 2012 at 2:59 pm |
  64. Sandra

    Looks like it's time to sell the Mustang and buy an electric car.
    There's just too much big money in Washington for any of the answers I can think of to come to fruition. Personally I'd like to see us stop buying oil from other countries and refine the electric car and promote the use of natural gas in personal vehicles–bus companies and our waste management company do this.

    Galesburg, IL

    March 19, 2012 at 3:00 pm |
  65. Noel Sivertson New Mexico

    There is no answer. I think the country is just beginning to realize we are not a national economy that drives the world economy anymore. We are now just a part of a huge world economy. Kinda like a big man on campus in a small high school finding himself a freshman at a large university.

    March 19, 2012 at 3:01 pm |
  66. Gordo from NJ

    Lets clear this up by asking ourselves two simple questions. 1. Do the oil companies make more money when the prices are higher or when they are lower? 2. Which candidates are the oil companies supporting? Look for the GOP to get a present of higher prices right before the election. As you may recall, they came down before the election four years ago to try to help McCain.

    March 19, 2012 at 3:03 pm |
  67. Annie, Atlanta

    My guess is the oil companies want a Republican held White House, along with Congress, too. The GOP tends to give these companies what they want. You can't count on the Democrats to do the same. It's that simple. The GOP favors big companies and they love them some big oil, and will continue to do so to the detriment of their fellow citizens. Hey, but we keep putting them in office, so can you really blame them?

    March 19, 2012 at 3:05 pm |
  68. Terry in Virginia

    Telecommuting. From the 1970s on, we've had one gas crisis after the other, whether it's a shortage or a spike in prices. Too much fraud and greed in the global oil system. Nixon wanted us to go with alternative sources. He's long dead and we're still worshipping the oil gods. Stupid is as stupid does and stupid seems to be forever when it comes to this issue.

    March 19, 2012 at 3:08 pm |
  69. TomInRochNY

    The answer? Alternative fuels. Oil is only going to become scarcer and therefore more expensive. Brazil was able to rid themselves of their oil addiction. Are you telling me America can't do the same? Well, actually as long as the highly profitable oil companies can convince certain people (wink, wink) they need subsidies, I guess we can't do the same. Eventually we'll have no choice and well have to go with alternative fuels. But, by then other places, like that Brazil place I mentioned, will be way ahead of us. Oh, wait, they already are.

    Tom, Rochester, NY

    March 19, 2012 at 3:15 pm |
  70. Andrew Carlile

    Jack,

    The best answer is to stop using so much. For example, I have an old car, but I use a half recycled-oil blend when I change the oil to help conserve. I also try to drive efficiently (I can usually beat the EPA rating). If we used less, the price would matter less. Also, the price isn't going to come down as long as other countries are using more and more oil (we have been using a bit less in the last few years). I plan on buying an electric car as soon as the price comes down a bit, and then I won't even care about the price of gas!

    Andrew Carlile
    SLC, UT

    March 19, 2012 at 3:16 pm |
  71. BILL, WI

    In 2008 Pres Obama said that he would close the loopholes that prevented oversight by the CFTC.
    Fast forward to 2012 Pres Obama said he will ask congress to close the loopholes that prevent oversight by the CFTC.
    In any case oil speculation is a world wide practice in all commodity exchanges. US law will only apply to individuals and exchanges doing business in the U.S. And increase commodity trading in foreign countries from the slack created here.

    March 19, 2012 at 3:23 pm |
  72. ken, atlantic city, nj

    Greed and speculation. Obama needs to stop talking and nationalize the oil refineries. If he can order the assassinations of americans, jail americans without trial, bomb countries without congress approval, then he can also do something about the upcoming $5.00 gallon gasoline. Campaigning and knocking romney will not provide one job or lower the price of gasoline one penny.

    March 19, 2012 at 3:26 pm |
  73. Eric

    This is the same song and dance that happened in 2008. People are quick to forget how gas prices skyrocketed in that election year. I believe it will come down after the election(like everything else did ). The real question I have is why are we not consuming natural gas?!?!? It is claimed that America holds over a hundred years of supply of this fuel?!!? Are they that stupid that wont use this Fuel to power are automobile, power plants, to what ever else we can think of???!!!!!!???? Instead they are turning natural gas wells off?!!!!!!!? Because we have such a abundance, this gas is at all time LOWS!!!!! It is just plain ignorant that we have a president in office that is not pushing for this clean burning, low cost abundant fuel supply???? Oh, wait a minute. I forgot. The president would rather throw are tax payer money into renewable energy. Because that has worked out so well for us!!! And the bankrupt companies!!! How stupid we are as Americans to put up with high gasoline prices!!!!!

    March 19, 2012 at 3:26 pm |
  74. lisa williamson

    a hh hello its spring break almost everywhere supply and demand no big secret then we have summer vacation it always happens cut down consumption down and the price will go down it does not have anything to do politics

    March 19, 2012 at 3:28 pm |
  75. Michael "C" Lorton, Virginia

    Jack: Is there a real answer? The real answer is "MONEY," and those who are selling it can't make enough--and the US doesn't have the true grit to change it-–rather, they lie in bed with their "johns."

    March 19, 2012 at 3:33 pm |
  76. Rob in NC

    There is nothing to do but suck it up. If every person decided not to buy gas on the same day you would see a mad scramble by the government and the oil companies (oh wait they are the same thing) It would just be nice if our salaries kept up with gas, food, and other expenses. Rob in NC

    March 19, 2012 at 3:33 pm |
  77. Laith F. Gulli

    Laith from Columbus
    Hi Jack:
    There is no answer to oil prices. The Government pushes large stakeholder Oil Companies to raise prices, since money is needed by the Government to financially break even at the end of the day from taxes gained, therefore fluctuations in oil prices are a necessary way to get everyone in the Country to pay by necessity to temporarily balance the the books without dealing with any MORAL issue.. And people pay by necessity.
    This reminds me why ObamaCare raises so much controversy–health care for all is not a necessity for all people like gas is, especially for those who can afford health care easily. This raises a moral question for each person in our country-a question that most people in most countries answered YES to already–Do we want health care for all Americans? ObamaCare is truly historic in many ways since it introduced a new level of morality within politics and wihin each citizen to choose and examine their own morality concerning universal health care.

    Laith F. Gulli

    March 19, 2012 at 3:33 pm |
  78. Jim, Denver CO

    Jack,

    The answer is bite the bullet America. Nothing is going to change as you have indicated. Until the money comes out of politics nothing is going to change.

    March 19, 2012 at 3:35 pm |
  79. Jesse

    Education of the consumer, an energy plan by our Government to lead us in a new direction (Obama is not the same old government game, give him a chance, he is a game changer). This has been a challenge since the 1970's, we want to fix it with the same solution that has not worked ... drill, driil drill, the consumer until you can't drill them no more.

    March 19, 2012 at 3:36 pm |
  80. curtis in philadelphia

    Jack I can't wait for the next time you ask this question, but sadly I doubt I'll have an answer for you then either.

    March 19, 2012 at 3:39 pm |
  81. Kevin, Chester Springs, PA

    Today's rising gas prices having nothing to do with the President's policies or with supply and demand for that matter. Supply is up and demand is low which should drive down the price. However, the current world market price is being driven up solely by fear and speculation. Fear about how a war in Iran would affect world oil supplies. And speculation in the commodities' market by the same kind of narcissistic financial whiz-kid bozos who got us into the financial crisis 3 years ago. So let's lose the politics and focus on the facts. Gas prices will come back down this year.

    March 19, 2012 at 3:40 pm |
  82. Roy Birdzell

    It sure isn’t algae. And, it sure isn’t listening to the politicians and their main stream media supporters that are using the energy issue and big oil as tools for their own political self serving interests. If those hundred +/- billions of dollars that Obama has thrown at green energy pipe dreams had been allocated to developing new and cleaner gas burning engines, and also into environmental clean burning of coal, we wouldn’t be talking about gas prices, or being dependent upon mid-east oil producing countries that are always dragging us into armed conflict. For over 30 years we have listened to those above, and have closed our selves off to the real potential of our own energy resources and developing the technologies to make that unbelievable abundance of our energy resources an environmental acceptable source of energy.

    Roy, Jacksonville FL

    March 19, 2012 at 3:44 pm |
  83. MYSTEROIUS

    The exact opposite of whatever Romney says.

    March 19, 2012 at 3:46 pm |
  84. John

    Jack

    In the short term (1-3 years) getting the percentage of the oil market out of the speculators hands would help the volatility It used to be 30% of the market and now it is around 80%. We also need to get rid of all subsidies for oil companies and take the money out of politics entirely to avoid the bribery our political system has become. I no longer want my President to be afraid of the oil companies as he clearly was during the gulf oil spill.

    In the long term we need a real plan to get away from oil. This includes building infrastructure for natural gas and electric vehicles which accounts for most of our energy and oil uses. The rest of the uses of oil need a plan to alternatives from power and heat generation to all of the products built from petroleum products.

    This will take bold actions and bold leadership and it will take getting money out of politics because you and I know all of the industries that will go full in with bribes to their elected cronies to defeat something like this. Until we get a leader like this and we get money out of politics, this is just an intellectual exercise. It will never happen!

    John
    San Jose, CA

    March 19, 2012 at 3:46 pm |
  85. chris

    no 1 speculators, oiln companines gouging us while they make record profits, and 3 drill in the gulf more, anwar and any other place there is oil for us to drill

    March 19, 2012 at 3:46 pm |
  86. Susan From Montana

    One word Jack. GREED!

    March 19, 2012 at 3:47 pm |
  87. peter

    Get out of the Gulf.

    March 19, 2012 at 3:50 pm |
  88. Larry in Houston

    What's the real answer to rising gas prices? Jack – Your whole article is the most truest thing that you've put out there, in your list of 'blogs' that you do every week. Big Oil will always have their subsidies, and their lobbyists will always be up on capitol hill. Until we actually start drilling on land here in this country (and offshore, off of every coast) we will be in this same predicament year after year. same 'ol – same 'ol . People that used to say – that if we start drilling here Now, and say that it would be 10 years before we see any changes regarding pricing, and availability – are the same people that is saying it Now. They actually scared people to death, saying things like that, so that's why we still rely on mid – east Oil. In my honest opinion, they should not wait 10 years, they should start now, because in 10 years, we will still be in the same place as we are today, as far as the gas & oil situation is, here in the u.s.

    March 19, 2012 at 3:57 pm |
  89. Hawk in Texas

    The oil companys and the republican party trying to make President Obama look bad in an election year. remember the republican motto, lie, cheat and steal the election if all else fails.

    March 19, 2012 at 3:57 pm |
  90. Gigi Oregon

    Most of us are ignoring them. After a life time of gas prices rising and falling it has become like "old news". The one thing I no for a fact is it's not President Obama's fault.

    March 19, 2012 at 3:57 pm |
  91. Conor in Chicago

    The only thing that can be done about oil prices is to declare oil a national security commodity and remove it from stock market speculation. Speculation is not the only factor leading to an increased price but it is certainly the main reason for it. South Sudan going offline 3 weeks ago is having an effect of course but without oil futures speculation we’d hardly notice that difference on its own. Either Washington needs to stand up against the “unfettered free market” types and remove oil from the whims of the 1% or we as the citizenry need to take matters into our own hands in the form of general strikes, boycotts, or mass protests. Oh, and maybe not having half of our government screaming that we should be bombing Iran, thus leading to oil traders betting on a shortage of oil in the near future, just might help a little too…

    March 19, 2012 at 4:02 pm |
  92. Lisa fronm Long Island

    Jack, you nailed it. Rising gas prices every year at this time, gee do we think its speculation?? So hard to tell! After everything else, wouldn't it be a hoot to correlate wall street speculators making their money by driving up gas prices for the nation? Just one question, how to you 'occupy' a gas pump?

    March 19, 2012 at 4:07 pm |
  93. lou

    Americans are such whiners. Gas is $8 bucks a gallon everywhere else in the world, but we cry to the government to fix this for us. Lord knows we won't give up our SUV's or make the kids walk 5 blocks to school.. Take control of your own situation. Drive less. Buy smaller cars. Walk more. Use less...pay less.

    March 19, 2012 at 4:08 pm |
  94. Paul - North Carolina

    The only real answer reqiures two distinct elements working in concert. First the government needs to implement a genuine long term energy policy focusing on our current and future needs, giving full consideration to all alternatives and not influenced by party politics. Fat chance! The second is that private citizens have to be willing to give up their relentless pursuit of status and make buying decisions based on energy efficiency when buying cars, houses, etc. Fat chance! Since neither of those is likely to happen this question will be with us until the world finally runs out of fossil fuels.

    March 19, 2012 at 4:08 pm |
  95. Al in Delaware

    Every week Israel is issuing a new threat to attack Iran. The threat of war in the Persian Gulf and the cutoff of oil not only from Iran , but Iraq, Saudi Arabia, Kuwait, and the Emirates is the main thing driving the Speculators to push up the price of a barrel of oil. All these so called friends of Israel should think about that the next time they fill up. Israel doesn't do a damn thing for us but they sure cost us a lot.

    March 19, 2012 at 4:09 pm |
  96. Jeff In Minnesota

    It's all about supply and demand. With the rise of China and India and their need for oil, there is huge demand and less and less oil on the spot markets that would allow oil prices to moderate or at least rise less rapidly. As a result, while oil is available today, there is just no cushion any more should Iran block the Straits of Hormuz, Iraq go into civil war or some other problem happen that would disrupt supplies. We need to admit that higher oil prices are here to stay and figure out an energy policy that minimizes our need for oil and petroleum products.

    March 19, 2012 at 4:11 pm |
  97. Steve, Clifton, Virginia

    The real answer is for the "occupy" group to take up the rising gas prices as a focused effort across the nation. They should picket every gas station that they can and interrupt the routine business of service stations, refineries, and corporate offices like Exxon and BP just for starters. People have complained that the occupy wall street protesters didn't really have a clear agenda and the rising gas prices gives them a clear agenda that every American can identify with. The 99 % needs to show that we are not puppets that will be manipulated to the highs and lows of the oil industry at their whims as they rake in Billions per quarter when the rest of America is struggling to get by.

    March 19, 2012 at 4:15 pm |
  98. Bob in Kansas City

    What's the real answer to rising gas prices?
    Jack- Why don't you ask the people in south Florida or southern California running around in V8 powered four wheel drive SUV's, or the one percenters that takes the private jet for any trip longer than 100 miles or the four clowns running around the country burning up jet fuel blaming Obama for everything other than plate tectonics what the real answer is.

    March 19, 2012 at 4:17 pm |
  99. Dave, Orlando, FL

    Very simple. All we have to do to send the message that we’re mad as hell and we’re not going to take it anymore, is to not buy any gas for any reason for a week. If that means calling in sick, so be it. The billions in lost revenue per day is chicken feed to them and will be made up in corporate welfare. But they will get the message.

    The only problem is that we are not mad as hell. We are sheep and sheep don’t get mad as hell, they just keep taking it and taking it and taking it. Where’s the outrage?

    March 19, 2012 at 4:17 pm |
  100. Sandstone.

    "Segregation might work, but you as a private owner wouldn't appreciate that. If you decide to use less, it can only help it rise. It will take a Conservative to work that out, on the hope there will be a boardroom meeting between all the powers that be."

    March 19, 2012 at 4:18 pm |
  101. Patriot

    Since there was no winter and fuel oil sales were in the dumpster... greed took over and the big oil companies screwed us again by making up their lost revenues by increasing gasoline costs. The sooner we get off gasoline the better for America... Obama's efforts to promote alternative energy sources are a step in the right direction. In the meantime, buy a hybrid.

    March 19, 2012 at 4:18 pm |
  102. Michael, from Smiths, Alabama

    The answer to the rising gas prices is not, as Gingrich put it, "drill baby drill"...its more like "invest baby invest"...in renewable fuel sources. Obama got that program started, he should continue it. And to both Romney and Gingrich, someone needs to remind them that they wouldn't do any better as presidents in regard to the high prices, so why do they want to fool the average American into believing the president can fix that.

    March 19, 2012 at 4:21 pm |
  103. Allen

    There are no secrets in this insanity. Obama simply wants exactly what he has preached since his election, to reduce Fossil Fuel usage. The only way this can happen is to help push the price so high people will have no other choice except either stay at home, or drive some horribly expensive Electic car with extreme limited Performance. So Obama Wins , he has Won , make no mistake about it . He is clearly the Winner. l Drilling on public land is down big time and will continue to be . Yet we are drowning in Oil and Natural Gas. We set on lakes of it . Natural Gas is extremely clean energy but it is still fossil fuel , Obama Hates fossil Fuel . High Gas prices are here to stay I expect 6-7 dollar gasoline. People everywhere will be building their own Electric cars becaus what they sell is a pill of expensive Junk .

    March 19, 2012 at 4:22 pm |
  104. Erma Leslie, Bay City, Michigan

    Hey Jack, If the rising gas prices are O'Bamas fault, how come the average price of gas was $4.26 in July, 2008 before O'Bama was even elected??? PLUS everyone knows gas prices always go up every weekend and every spring and every fall when the snow birds are going south or coming back home, as well as holidays. Been happening as far back as I can remember during my 79+ years. You want to blame someone??? Blame the Wallstreet speculators. They're laughing thier you know whats off.

    March 19, 2012 at 4:23 pm |
  105. Mack from Michigan

    the problem right now is not oil resources as the republicans would have us believe, the problem is refining capacity.
    their is plenty of crude oil in the system it just isn't getting turned into gasoline fast enough. The federal government should build at least two refineries, government owned and operated, with all profits from the refineries going to a government fund to subsidize crude oil purchases when they are adversly affected and rise due to hurricanes,wars or whatever. Having some control of the refining costs and the ability to put profits away for rainy days would give the government at least one tool to keep prices stable.

    March 19, 2012 at 4:24 pm |
  106. deborah ballweg Seibert, co

    Get rid of Obama. He is the one who wants high prices and Biden said so. Why else would he not want Canadian oil?

    March 19, 2012 at 4:27 pm |
  107. andy Lynn, MA

    We can solve our gas prices very easily. Create a crisis with Iran. Then send in ground troops. Finally, take their oil. All we have to do is elect a warmonger, sorry I meant a Republican. Santorum would be ideal. He seems to have the scare crow mind set. Looking for a brain. My only question is would he be sworn in as President or as the Grand Inquisitor?

    March 19, 2012 at 4:27 pm |
  108. Bob, St. Thomas PA

    Drive a diesel. There are a number of good choices available today, some of which get 50 MPG on the highway. The slight additional cost of the fuel is more than offset by the mileage variance, and part of the cost difference can be rationalized by the fact that your getting more BTU's in a gallon of diesel than you are in a gallon of gas.

    Another thing that would help gas prices is to reduce (or eliminate) all the "designer" blends of gas used all over the country. They may have been worthwhile in the old days of points and carburetors, but I think they're largely unnecessary with the advent of modern computerized engines. New cars are 99% clean to begin with, so there isn't much to be gained with all the different blends besides the additional cost.

    March 19, 2012 at 4:29 pm |
  109. marybeth, massachusetts

    The answer is to get the speculators out of oil and gas. That will stabilize the prices. Naturally, I'd like to see welfare for oil companies stop too, but I'm not going to hold my breath. I don't think anything is going to happen this year because it is an election year.

    If it were possible, the next best way would be for people to stop buying gas–hit the oil companies where it hurts–their pocketbooks. But that isn't possible unless you live within walking/biking distance to work, or have good public transportation, and not everyone has that luxury.

    Let's face it–the oil industry's interests and our interests aren't aligned, and since they have the money and lobbyists to bribe Congress for them, they'll continue to be able to gouge us.

    March 19, 2012 at 4:40 pm |
  110. Karl in Flint, MI

    Isn't it appalling that Mitt apparently knows how to bring down the gas prices, maybe from his time at Bain or something, but refuses to tell anyone while we sit here paying $4.00+ a gallon waiting for him to get elected. How unamerican. Does it mean that if he isn't the next president we are doomed to global oil markets and he will just take the secret to his grave? I guess we have to vote for him then. DUH!

    March 19, 2012 at 4:41 pm |
  111. Dave - Phx

    Nationalize our oil companies, or fine them 100 times the amount of bonuses they pay their greedy management and executives.

    March 19, 2012 at 4:42 pm |
  112. Kim , Dodge City, Ks

    Anything that affects our nations economy and security as much as oil and gas does, should be nationalized so that we are not at the mercy of unscrupulous speculators and overzealous greedy corporate CEOs. We are obviously being played for suckers by Big Oil, and their quarterly profits prove it.

    March 19, 2012 at 4:42 pm |
  113. riley oday

    Grab the pipeline in Kuwaitt.

    March 19, 2012 at 4:46 pm |
  114. A Southern Lady - North Carolina

    The President has no control over gas prices but the Republicans, as always, will blame him for this and everything else. There are times this 75 year old grandmother would like to crawl into the TV and punch-out some very Republican noses.

    March 19, 2012 at 4:51 pm |
  115. carlos Magallanes

    Dear Mr. Cafferty,
    First, the President does not control the price of gasoline. Secondly, Gingrich's, Santorum, and Romney's assertions that blame the President for the rise shows either gross duplicity or a grievous lack of how world markets work. In either case, this makes them dangerous. The fact is during the President's administration the flow of oil from this country has actually increased since the Bush administration.

    Carlos Magallanes
    Pasadena,Calif

    March 19, 2012 at 4:53 pm |
  116. AJ in Austin TX

    Jack,

    I seem to recall that back in 2007 – 2008, it was all Bush's fault. CNN and other media outlets would take almost daily polls which concluded that Bush/Cheney/Rove/Haliburton were all to blame for high gas prices and the media would let that narrative stand. Senator Chuck Schumer and others would show up at gas stations and decry the high prices of gasoline and would call for hearings on the eeeevil oil companies. Today, it's a much different picture. The same media outlets are tripping all over themselves to tell the people that this isn't Obama's fault, but market forces and international speculation are to blame; and that the president has no power to affect the price of oil or gas. Let's also remember that president obama and the democrats released oil from the Strategic Petroleum Reserve last June and it did absolutely nothing. I wish the media would play fair with the facts.

    March 19, 2012 at 4:56 pm |
  117. Dan from Stewartstown PA

    Simply raise the margin that commodity speculators have to pay for oil, gasoline and other related petroleum futures. The current margin is ~7%, which means they pay 7 cents to bet against our future dollar's worth of petroleum. The same kind of margins in the stock market i wat led to the "Great Depression."

    March 19, 2012 at 5:03 pm |
  118. tom Bulger, Canandaigua, ny

    The answer is to stop using gas. We've always known the supply of petroleum is finite. We need to transfer the billions in subsidies we now give to Big Oil to the green alternatives of the future. Stop betting on a dead horse.

    March 19, 2012 at 5:06 pm |
  119. Pete/Ark

    Control ALL specultive trading (not just gas/oil) Jack. The method is simple...if you buy a commodity you take delivery and hold it until you can resell it. A regulation like that would cut fuel and other costs massively. Take out the phonies and wannabes .

    March 19, 2012 at 5:10 pm |
  120. Mark in Houston

    Rising gas prices are only a symptom of the disease. The disease is the mind set of our current crop of so called public servants. As long as greed and quest for political power stays atop their agenda nothing will get solved; gas prices, health cae, economy, jobs, you name it. I this case the problem is chronic, reaches across both sides o the aisle and had spread far beyond the confines of those in DC..

    March 19, 2012 at 5:14 pm |
  121. Allen Monday

    The rising cost of everything, especially healthcare, makes gas prices seem irrelevant. I’ll pay ten dollars a gallon if it will make my medicine and doctor bills affordable. Nobody likes whiner, so aw yea it must be the President’s fault. Lets have another feel good war for morale.

    March 19, 2012 at 5:15 pm |
  122. lynnej in nc

    Look at the prices and follow the money. It's not hard. It is the speculators on Wall Street. The president can't do a thing, but Congress can. Will they? Uh, what is their favorite word? NO.....

    March 19, 2012 at 5:15 pm |
  123. Jack - Lancaster, Ohio

    Mr. Cafferty:

    Right on ! I think you mentioned all the fake causes of high oil prices and in those"environments" (government commiittees, subsidies for big oil, political presidential spin...etc,) the people, and voters do not have a place at the table so the solution is not to be had, only suffering the marketplace to reduce prices by reduced consumption albeit at higher prices that one can bear. Despicable !

    March 19, 2012 at 5:16 pm |
  124. Louis R Z

    Lease a horse.

    March 19, 2012 at 5:18 pm |
  125. Benjamin

    The answer, three words... ride your bike!

    March 19, 2012 at 5:19 pm |
  126. Renee, Illinois

    Sadly, we are to blame because we keep electing the same boobs into office. Stop voting for anyone who supports subsidies for oil companies, and I do mean ANYONE regardless of party, and maybe we'll finally get some meaningful action.

    March 19, 2012 at 5:19 pm |
  127. Peggy In Virginia

    We need alternate sources of automotive energy and we need to use our vehicles wisely, bundling our trips to reduce usage, and using public transportation more... or, and this is a radical thought, walk more! Anything but pay the high prices.

    March 19, 2012 at 5:20 pm |
  128. RT

    I've already decided that my next new car, which I will probably purchase around 2015, will be electric. I've heard over and over again for as long as I have been an adult that oil was going to run out. With additional demand from China, India, not to mention ourselves, I think it is clear that the prudent action is to make the switch before I am left with a useless car and forced to make the switch.

    March 19, 2012 at 5:20 pm |
  129. Paul M.

    Alternative energy sources for cryin' out loud. We have the technology: wind, solar, hydro. It just needs to be a little more efficient and cheaper. As my buddy says, "It's not 'rocket surgery!'"

    March 19, 2012 at 5:20 pm |
  130. Jay in Texas

    Nationalize !

    March 19, 2012 at 5:20 pm |
  131. Jake in Omaha

    For years the so called world market has had us by the short hairs. It's about ripping off the consumers. If we want to stop this highway robbery we need switch to burning natural gas in our cars and trucks. We have plentiful supplies of Natural Gas. We have a shortage of the will to make the change.

    March 19, 2012 at 5:20 pm |
  132. Administrator

    Our refineries are not operating at full capacity. In August of 2011 we had refineries operating at 90.3 percent capacity; they are now operating at 82.7 percent capacity.

    PJ

    March 19, 2012 at 5:21 pm |
  133. josh MI

    I don't think we will ever know that answer until we all know the real reasons for the cost of gas. I also wonder how high is the gas tax really? Obviously, they are in it to make money off gas but does anyone know how much they are making off taxing us?

    March 19, 2012 at 5:21 pm |
  134. Ed from Colorado

    We all need to downsize to vehicles with better mileage, drive less, drive more sanely, embrace biofuel alternatives like the military and some airlines are starting to do. Poking more holes in the ground won't cut it. By putting solar panels on residential and commercial buildings, we can downsize the grid and charge our electric cars.

    March 19, 2012 at 5:22 pm |
  135. Hank Corbett - Jacksonville, NC

    The only real answer to reducing the price of oil, foreign or domestic, is an alternative fuel. Don't think that because we drill oil in the good ol' USA, that Exxon or BP will sell it to us at a cheaper price than they will sell it to China. Oh, yes, we won't get it cheaper from Canada, either!!!

    March 19, 2012 at 5:22 pm |
  136. Patrick Burke

    Nationalize America's oil industry. To hell with the free market for something that's as basic to the national security as the security of our borders. Oh wait – They're not secure either.

    March 19, 2012 at 5:22 pm |
  137. Mark

    Everyone knows the answer: stop using it. Oil is a non-renewable natural resource- that means the price will continue to go up as there is less of it to go around- and more people wanting it. Its also a commodity and so, in a free enterprise system, subject to speculators. Let these high prices be the nudge we all need to invest in alternatives and start adjusting our lifestyles to use less of the stuff. Simple. Very difficult, but simple.

    March 19, 2012 at 5:22 pm |
  138. Jen Seattle,Wa.

    Stop Buying Consumption Malfunction M.P.G. Autos and Legislate Disallowance of bogus non working Speculators Aritifically Inflating cost of oil with Buy low and Re-sell Higher while wrongly getting Capital gains tax brake and Blaming Opec as U.S> sellouts Allow Foreign Corporations Shell ,Total,B.P. to destroy our water supply and oceans as if its more important to make money off gas than have sustainable resources that gurantee evolving beyond 20th century side effects regurgitated by 2 party monopoly selling soul of nation.

    March 19, 2012 at 5:22 pm |
  139. Carol Davis

    It's obvious that we are being taken advantage of again as usual...Perhaps we should not go to the gas stations at all...stay home from work and see where it goes from there...we are all so tired of the whole situation...

    March 19, 2012 at 5:22 pm |
  140. Jon

    It is an ancient solution: winning a war entitles a nation to the loser's treasure –oil.

    March 19, 2012 at 5:22 pm |
  141. Tony Miraglia

    Simple Jack. Greed and no real energy policy from either party.

    March 19, 2012 at 5:22 pm |
  142. Herb Roselle, Little River, SC

    a simple two-step process – first, dedicate a consumer tax on gasoline to subsidize electric car purchases, and second, introduce plans to build 30 or so nuclear plants. That'll send the gas prices plummeting.

    March 19, 2012 at 5:22 pm |
  143. Dan

    Stop using gas guzzling vehicles. The government CAN do something to help, simply by getting hybrid or electric public vehicles. Police cars, school buses, government vehicles, etc. Demand for gas would drop like a rock in this country.

    March 19, 2012 at 5:22 pm |
  144. Dale N.M.

    The answer is the oil market is throwing a temper tantrum, they want the Keystone pipeline to go through, there is no better way make gasoline and diesel prices go through the roof and eventually they will get what they want.

    March 19, 2012 at 5:22 pm |
  145. Andrew

    End the Federal Reserve system, that's the solution to higher gas prices. The prices are rising everywhere not just gas, and that is coming from an increase in the money supply. The inflation we're suffereing from is both demand pull and cost push inflation. Refineries are shutting down because their margins are being squeezed, raw commodity prices are skyrocketing, these are symptoms of having money being printed by the government or quasi-government institutions.

    March 19, 2012 at 5:22 pm |
  146. Jose VIsconti

    The developing world is growing and buying more oil while developed nations are maintaining their oil purchases. There is a limited supply of oil that can be sold in the world. It is a case of simple economices; rising demand and stagnant supply.

    If the price of gas is to come down, we need to reduce oil consumption or increase oil supply.

    March 19, 2012 at 5:23 pm |
  147. Paul Jefko from Tampa Florida

    Why are we concerned about gas prices if the market will give us the right price? Because we want government to help us when the market causes us personal pain. Otherwise, we want it to stay out of our business.

    March 19, 2012 at 5:23 pm |
  148. Rudy Padgett

    Why can't President Obama put a freeze on gas prices like President Nixon did?

    March 19, 2012 at 5:23 pm |
  149. Joe Eustis Fl

    Conspiracy Jack , It's the liberal Democrats plans to keep the gas prices up and complain about drilling as they do it to force there agenda on the American people. Oh well it sounds good even if it's not the reason. It's just plain greed.

    March 19, 2012 at 5:23 pm |
  150. floyd randolph

    although in part agree you but stop blaming any president but blame congress and those high interest people. if we follow the suggestion of this president and or those of past and america at heart and the rich oil companies some of this mess would not be. ecomony, gas, job goes hand in hand. congress and fat cats control it all not the president. wake up america.

    March 19, 2012 at 5:23 pm |
  151. AB

    Jack, This is a national emergency. the federal government should nationalize the oil industry, investigate and prosecute oil speculators and others who engage in theft from the public by artificially creating shortages that would keep prices sky high. Furthermore, some gas rationing is in order. This means that all of us will have to use fuel more conservatively and take public transportation where it is practical. President Obama will also have to once again tap the Strategic Petroleum Reserve and increase oil output in areas that are were explored and from which we are getting petroleum.

    March 19, 2012 at 5:23 pm |
  152. Julie Sonstegard

    Presidents don't control gas prices, the market does. When the market hears stories that hint at reduced production the market reacts and prices sky-rocket. Solution – Peace in the Middle-east (a fantasy) OR a bold new look at the U. S. Energy Policy(another fantasy). Meanwhile drive less and pay more – deal with reality!

    March 19, 2012 at 5:24 pm |
  153. Dennis

    Gas prices are the next "housing crisis". The oil companies are protected and will continue to charge what they can and the rest of us will suffer. Profit margins in the billions of dollars in a quarter are obscene. Until we, the people, begin demanding Washington does something, we, the people, will continue to suffer.

    March 19, 2012 at 5:24 pm |
  154. mike from illinois

    Jack the problems not that we do not have enough oil in the system the problem is we have not built any new refineries in decades. Can't make gas without a refinery. If we could make more gas the prices will fall.

    March 19, 2012 at 5:24 pm |
  155. Jerry Jacksonville, Fl.

    Eliminate the speculators that seem to control the cost of gasoline more than anyone else and if this doesn't work we could always nationalize pass a law that the oil companies would have to get premission to raise the cost of gas from an independent committee much like a lot of the electric companies have to do now.

    March 19, 2012 at 5:24 pm |
  156. Mark Port Washingtion

    The Federal Reserve is mostly responsible. Since the housing bubble bursted in 2008, the Federal Reserve has hoisted about $3 trillion dollars, almost 20 % of the US GDP, on it's balance sheet in the form disguised money printing called Quantitative Easing. This is destroying the dollar's purchasing power, while pumping paper asset prices. There's not enough buyers of our debt after the housing bubble impolsion, which followed the Nasaq bubble implosion of 2000-2. So the Fed has become the market price maker of the Captial markets. The next bubble implosion is not too far away, and it will be more pernicious than the two previous ones of the last 12 years. Funny that the mainstream media never touches on this.

    March 19, 2012 at 5:24 pm |
  157. Tricia R

    Jack, you're asking the wrong question. Americans need to understand that the continued consumption of oil at our current rate is not a viable option, whether that oil be obtained overseas or from American holdings. The only real solution to the gas problem is to invest now in American renewable energy sources

    March 19, 2012 at 5:25 pm |
  158. Stewart Hearn

    Drive less.

    March 19, 2012 at 5:25 pm |
  159. Tom from San Antonio, TX

    I think the answer to lower gas prices is Newt Gingrich – of course I also believe in Santa Claus, the Easter Bunny and the Tooth Fairy

    March 19, 2012 at 5:25 pm |
  160. Donald Herman

    Let's see...oil companies are closing major refineries, especially in the Northeast and gasoline exports are a major portion of our trade growth. Even with consumption falling, the citizens cannot balance out political rhetoric and oil companies hell bent on driving up profits. The big squeeze is on folks.

    March 19, 2012 at 5:25 pm |
  161. Sheryl

    We have several properties in Oklahoma that "have" oil on them. They've been leased by oil companies but not drilled. Feels like they are just holding on until gas prices go higher? Also, they've tried to buy our mineral rites instead of drilling our oil. Seems like they want the whole pie and are not satisfied with 13/16ths of it. Why not drill oil in the U.S.? The percentage of money property owners would receive would also go back into the economy which is badly needed.
    S in California

    March 19, 2012 at 5:25 pm |
  162. Luey

    Inkster Michigan

    gas prices are ridiculous. So what do you do when you can't afford something. You find something cheaper. What will the price of has cost ten years from now. 20 bucks a gallon? Why not find a cheaper source. Like hydro power. Our planet is 2/3 water. And it recycles itself. Also it falls from the sky! and most importantly we will never have to fight a war for it.

    March 19, 2012 at 5:25 pm |
  163. Nancy, Tennessee

    Every American needs to watch more television. This will keep us off the roads and save on gasoline. If we try harder, we can use less fuel. Maybe with less consumption, the prices will come down. So bring on the reruns. It's going to be a long hot summer.

    March 19, 2012 at 5:25 pm |
  164. Godfrey Leggett (Beaumont Texas)

    Jack you should read or watch some of T. Boone Pickens stuff about 'Peak Oil'. It is amazing that no one is talking about this. We are at, or almost at peak oil. As T. Boone says (and he is an oilman and geologist) we can only produce a maximum of 85 million barrels of oil per day. If we consume even a little more than that or, the supply slips even a bit, the price goes way up. We all need to decide that we must radically chenge the way we live, soon......
    Godfrey

    March 19, 2012 at 5:25 pm |
  165. Jim, Medina, Ohio

    Has anyone thought it could be from inflation and the weakening of the dollar? Nope, government would be able to do something about that.

    March 19, 2012 at 5:25 pm |
  166. Ken in MD

    How about the fact that when all the candidates are asked about their energy policy, all they talk about is oil. Our energy policy MUST contain alternatives. Oil is finite, and most of it is under the control of people who don't like us very much. Plus as China continues to increase its demand, prices continue to climb.

    Repubs talk about how Obama vetoing the pipeline is causing a lot of the problem. That oil wouldn't reach the pumps for years. And starting new drilling will take even longer. Oil is not the long term solution to our energy problem, and we need to stop thinking in the short term.

    March 19, 2012 at 5:26 pm |
  167. Mark Duwe

    I'm sure the Saudi King, Mahmoud Ahmadinejad, most of OPEC, all of the energy speculators and oil company executives have each other's phone numbers. "How can we get the price up a little and take some profits?" "I know, call that guy in Iran and have him cause some trouble, he's good at that anyway."

    Note: Name pronounced same as D-E-W-E-Y. Thanks.

    March 19, 2012 at 5:26 pm |
  168. Sharon Warlick

    Sharon – Montana
    The Oil Companies and their greed are responsible. We talk of producing oil domestically – we already do and thousands and thousands of barrels of oil and refined gas are EXPORTED to from the US to Mexico, Latin America, Equador, etc. because the oil companies can get more profit than selling it here in the US. So no amount of domestic oil will lower our gas prices as long as the greedy Oil Companies continue to export our own oil.

    March 19, 2012 at 5:27 pm |
  169. Paul Homer

    How about this? We limit the sale of food to oil producing countries like they like to do with oil production. If they don't like it, let them either eat thier oil or increase production significantly. Also require the oil companies to increase production in this country if they want to continue to receive subsidies.

    March 19, 2012 at 5:27 pm |
  170. Bob, in Florida

    The REAL answer to rising gas prices is two-fold:

    First: Gasoline futures contracts SHOULD NOT have a five percent margin so that a speculator only has to put down 5% of the actual cost of the contract. INSTEAD, it should be a 40% margin at $50 per barrel. Increasing the margin for each $10 increase in price so that at %60 per barrel one would put down 50% of the total contract cost, at $70 the margin would be 60% of the contract, at $80 per barrel it would be 70% margin and so on until the price reaches $110 per barrel where the margin is ZERO and one would have to put down 100% of the cost.

    Second: the Congress SHOULD REQUIRE that if WTI is used to refine gasoline then the price of gasoline MUST BE tied to West Texas Intermediate INSTEAD OF BRENT LIGHT SWEET CRUDE. RIGHT NOW, THE "BAIT AND SWITCH" TACTICS OF USING WTI AND CHARGING BRENT LIGHT SWEET CRUDE PRICES is like ordering and paying for a Cadilac and receiving a Ford Focus.

    Thieves one and all, Congress, gas stations, refiners and lio producers. Thieves I tell you....thieves!!!!

    March 19, 2012 at 5:28 pm |
  171. Emily in Ohio

    Hire a new president friendly to fossil fuels.

    March 19, 2012 at 5:29 pm |
  172. Edward Chambers

    Whats the "real" answer? Personally, I answered this question for myself three-and-a-half years ago when the former President – you know ... "W" – was in office and gas was over $4 nationally: I purchased a Prius. Since August of '08, the car has averaged 49.5 mpg and I've paid less than $1250 for gasoline. The higher it goes, the less I drive per week. The lower it goes, the less I pay to fill up. Sadly, demand remains a large issue, and until we, as individuals, living in the country – America – that uses more gasoline – by far! – than any other country in the world figures out a way to waste less of the commodity, the higher the price is likely to go. In short: we should all do whatever we can to waste less. That way, we would all feel less pain.

    March 19, 2012 at 5:29 pm |
  173. RandyFromColorado

    Simple, we can increase the supply of domestic gas by stopping big oil from exporting American resources to overseas markets. Oil companies made almost $90 billion last year by exporting gas, diesel and jet fuel, far more than America imported. With this increased supply gas prices will drop.

    March 19, 2012 at 5:29 pm |
  174. Gord, Ontario, Canada

    Well Jack this question makes me ask (When does profit become Theft?) I guess it's a moral question that all companies should answer.

    March 19, 2012 at 5:29 pm |
  175. Susan from Idaho

    The real answer is the GOP bickering. After hearing these jokers slam dunk each other for months it's enough to make gas prices soar and make a sleeping pill nervous.

    March 19, 2012 at 5:31 pm |
  176. thom richer

    Besides all our wars and greedy Corporate America not satisfied with making reasonable profits and a Congress in the pockets of Wall Street crooks, it is the consumer who has to share the blame. Until we, the consumers, unite together and stop using gas in such wasteful fashion, we will continue to be at the mercy of the oil companies. We have to set aside a length of time that we will stay at home unless absolutely necessary to drive. We have to spend weekends at home, car pool, forgo vacations, quit running to Wal-Mart and just simply stop using our cars as much. But we have to do it as one. Until we stop buying nothing will change the high price of gas.

    Thom Richer
    Negaunee, MI

    March 19, 2012 at 5:31 pm |
  177. G. Paul

    I don't know what is the real answer to rising Gas prices, but I know that rising gas prices is an answer itself to the problem. It will carve the path for alternative viable fuel technology

    March 19, 2012 at 5:33 pm |
  178. Q.A.

    The price of gasoline is NOT set by the market but by oil companies. It is set several times a day and this can be confirmed by anyone owning an gas station. Consider that the number of refineries has been shrinking over the last few decades. The refineries are not currently running at anywhere near capacity and usually operate in the low 80% level. The US is now a net exporter of gasoline. There are more drilling sites in the US than ever before and more oil is being produced than ever before. The price of gasoline moves up when the future price of crude moves up but lags behind when the price of oil decreases. There is no supply and demand relationship that produces this result. It is artificial. How can the price of retail gasoline be affected byt he future price of crude the same day? IT has nothing to do with the cost of crude oil. The public has bought into the idea that the price of gas is associated with the future price of crude but essentially the reality is that the demand for gasoline is inelastic and there is very little a consumer can do about the need to buy gasoline or the pricing of the commodity. Consider that the demand for gasoline has been falling the the US for many years but the price continues to soar. Major oil companies have put most independent gasoline dealers out of business. The major oil companies own the oil, the means of production, and the retail outlets. The oil companies set the price and have found that no one has developed the where with all to challenge them. When you understand that a great deal of the price of oil is caused by speculation in gasline ans oil futures, typically 30% or more and the speculators can easily be oil companies who absolutely have the money to speculate in the market it would not take a whole lot to connect the dots. If you could move the market to the benefit of the comapnies you own and profit from the market price change as an investment vehicle as well then you would be crazy not to do it. Until the ownership pf this strategic commodity's means of production and distribution is broken up and speculation in a strategic commodity id outlawed the price will continue to be manipulated to the detriment of all but the oil companies. As a PS consider the subsidies and corporate treatment an oil friendly Congress and or White House can provide. Would it be a stretch to conceive of the oil companies raising the price of gasoline to help unseat a President who they are not favorable to and replace him with one who will provide the taxes and lowered regulations that they want from government? It is highly logical to suspect that they can and do so.

    March 19, 2012 at 5:33 pm |
  179. Sheryl

    Sure gas prices are higher in Europe but I've been there, I know, the high prices are due to "high taxes" to keep the roads up, etc. The gas tax money goes directly to and is used only for roads, highways, etc . Items that are used for driving not like in the U.S. where tax money from one source is used for something completely different than the reason we were taxed.
    S in California

    March 19, 2012 at 5:34 pm |
  180. Ray,Montreal

    Rather simple Jack and I don't understand why nobody ever blames the real culprit : the hedge funds. Wall Street speculates on higher prices to make their money off your wallets but nobody looks their way. It's Not the demand, it's not the offer. It is Speculation, Speculation, Speculation. Ask Romney if he'll cut off the speculation on Wall Street and I'll show you a new President. Till then, let's get off Obama's back and tell things as they are. Drill, drill, drill won't do a thing for you because the Chinese will buy the American Oil at a steeper price and you won't be ahead and left funding more oil shareholders around the world. I make money off of you because I own shares in your petroleum industry. Or let the Republicans help me make more money 'cause they support the industry big time.

    March 19, 2012 at 5:34 pm |
  181. SteveKJR

    The Obama administration continually says that he can't do a thing about high gas prices. Well why is it that all the countries that produce oil have gasoline prices that range from $0.18 to $0.85 a gallon. Seems to me if we were allowed to produce more oil and build more oil refineries so that the oil could be refined the problem would be solved.

    Then we could move on to building nuclear plants that would get us ready for the new electric vehicles that are coming down the pike.

    March 19, 2012 at 5:34 pm |
  182. Fernando from dallas tx

    Heres the answer obama could do something about it but hes to focused on syria. Obama stay out of other countries and worry about your own. If he could focus more here instead of there we could find a new energy source.

    March 19, 2012 at 5:34 pm |
  183. Godfrey Leggett (Beaumont Texas)

    By the way Jack, that 85 million barrel a day number I quoted, we lose 5-6% of our production each year and we must make up for it with new production. The Albrerta Oil Sands (keystone pipeline) is currently maxed out at 500K of oil per day, that's 500 thousnd, we need millions. Dick Cheney knew all this, hell ask him....If you want to contact me, I have lots of charts, facts and figures. Just google 'peak oil". All the major fields around the world are in steep decline, including the Saudis...

    March 19, 2012 at 5:35 pm |
  184. Emmett M. Smith

    Jack a new gulf coast refinery and a Canadian oil/tar sands pipeline leading to it would help to reduce gasoline prices. So would more people using mass transit systems (instead of clogging the commuter roads). Emmett Smith, Mobile, AL

    March 19, 2012 at 5:35 pm |
  185. Stan from CA

    Jack,
    Big Oil is more hands on than we think. US citizens must get into the fight for this country, because Big Oil is dictating our legislation. We have the technology and know how to stop the bleeding at the pumps and put Big Oil in it's place. The answer is simple...Algae based biodiesel. All diesel engines can run on this product without engine changes. This means we can make our own fuel for the current cars on the road. We don't need gasoline, we need this alternative at the pumps. It's easy to manufacture, there's established plant across the nation and its better for our environment.

    March 19, 2012 at 5:35 pm |
  186. Larry

    The real solution to rising gas prices is for this country to wean itself from foreign oil and use algae as a feedstock for biofuels. This would not only reduce our carbon footprint, but would create new jobs because of all the byproducts algae produces. We're headed in this direction, but as long as big oil is in the pockets of the politicians, progress will be slow. Get the hint?

    March 19, 2012 at 5:35 pm |
  187. Frank Latella

    First take away the requirement to refine at a more expensive rate for summer driving.Second, reduce the high eco refinery requirements so oil companies can build more refineries quicker. These are things we can do right now here in America. In short take away the reasons we hear every year for the rise in price.

    March 19, 2012 at 5:36 pm |
  188. Larry, Greer, SC

    The real solution to rising gas prices is for this country to wean itself from foreign oil and use algae as a feedstock for biofuels. This would not only reduce our carbon footprint, but would create new jobs because of all the byproducts algae produces. We're headed in this direction, but as long as big oil is in the pockets of the politicians, progress will be slow. Get the hint?

    March 19, 2012 at 5:36 pm |
  189. Sheryl

    We have several properties in Oklahoma that "have" oil on them. They've been leased by oil companies but not drilled. Feels like they are just holding on until gas prices go higher? Also, they've tried to buy our mineral rites instead of drilling our oil. Seems like they want the whole pie and are not satisfied with 13/16ths of it. Why not drill oil in the U.S.? The percentage of money property owners would receive would also go back into the economy which is badly needed.
    S in California

    March 19, 2012 at 5:36 pm |
  190. Greg Turman

    Jack;

    Tire gauges, solar panels, golf carts and pond scum gas. Maybe we should invest our money in stuff that people actually buy and use.
    Jimmy Carter had solar panels on the whitehouse (1979), sent domestic oil production over seas and won a Nobel Peace Prize.

    Maybe it is time to quit repeating failed history. We need a real energy plan based on short term, mid term and long term reality.

    Gregory Turman
    Noonday,Texas

    March 19, 2012 at 5:37 pm |
  191. Godfrey Leggett (Beaumont Texas)

    I am sorry, I just had to post a third message. To all those who want to nationalize our oill companies or 'just use our own oil and don't sell any to anyone else. We only control about 20% of the earth's petroleum reserves, we consume 80% of the world's petroleum production. Think about it?

    March 19, 2012 at 5:41 pm |
  192. Jack Junior

    Just need three difficult steps: Ban all Oil and Gas contributions to Political parties which runs in the tens of millions of doallrs per year. Ban all Oil and Gas companies from exporting any fossil fuels obtained from within the US. And eliminate the over $46 billion in subsidies that Oil and Gas companies receive per year.

    Jack in AZ

    March 19, 2012 at 5:46 pm |
  193. Aga

    greed and economical game to diminish Obama's chances to be reelected...GOP has weak players for the race...but a strong hand at manipulating gas industry...after all they cater to them:) what was it...drill, drill drill....our wallets it seems

    March 19, 2012 at 5:47 pm |
  194. Jordan Wamhoff

    Ten years ago an ounce of silver would buy about three gallons of gas. Now it would buy about seven gallons of gas. The real culprit is the inflationary monetary policy of the Federal Reserve.

    You can tell me what you want about CPI blah... Blah... Blah...

    Bottom line, my money doesn't go near as far as far as it once did...

    March 19, 2012 at 5:50 pm |