(CNN) -- Gas prices have plummeted 46 cents a gallon over the past two months, according to a survey released Sunday.


I know it was his fault when prices went up because some of you said so....what say you now?

FIXED NOISE WONT ACKNOWLEDGE

Prices are going down in spite of President Obama. If Romney got elected, gas would be a nickel.

Still brutally high, yet you are celebrating?

                                                                                                                 Maybe Inflation Is Next

So it is the worst it has been since 1920.  I wish we could have those prices back when GWB was president. 

Gas is expensive because of (1) taxes and (2) the Govt shutting down fed land for exploration.  The US has plentiful oil supplies.  There is no reason it is expensive as it is.  And the cost of gas makes every other thing you purchase more expensive.

Cato Institute:

Sure, more domestic oil creates the possibility of fewer refined imports tied to the price of Brent crude, but given that the price of Brent sets the price for crude generally, the result would be more profit for domestic crude producers rather than significantly lower gasoline prices for Americans

Posted by jclarkbaker on 12/10/2012 1:12:00 PM (view original):
Gas is expensive because of (1) taxes and (2) the Govt shutting down fed land for exploration.  The US has plentiful oil supplies.  There is no reason it is expensive as it is.  And the cost of gas makes every other thing you purchase more expensive.

See my post above. Gas is expensive because worldwide demand is high. Not because of the reasons you list.

Posted by bad_luck on 12/10/2012 2:48:00 PM (view original):

Posted by jclarkbaker on 12/10/2012 1:12:00 PM (view original):
Gas is expensive because of (1) taxes and (2) the Govt shutting down fed land for exploration.  The US has plentiful oil supplies.  There is no reason it is expensive as it is.  And the cost of gas makes every other thing you purchase more expensive.

See my post above. Gas is expensive because worldwide demand is high. Not because of the reasons you list.

You're right, because intentionally keeping the supply lower than it should be does not affect the price.  And neither does taxing the product.

Perhaps there is a reason you have "bad luck".

Read the Cato Institute piece. More US drilling wouldn't add enough supply to affect the price of oil.

Perhaps you and Cato should read up on how the price of Brent comes about.

And perhaps you should again ignore taxes on gas.

If we drilled for more oil, the private owners of that oil wouldn't sell it to Americans at discounted prices. They'd export it and get the market rate. Adding 2% to the supply is not going to bring the market crashing down.

The feds have been charging 18c a gallon for 20 years. That isn't what spiked the price.
And the gas tax is the epitome of conservative taxation. People that use more pay more and the funds go to pay for highways and bridges.
Also, the gas tax is certainly not Obama's fault.