Michele Bachmann: Next President has to get gas prices down to $2/gallon

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Rep. Michele Bachmann, R-Minn., says she'll decide "by early summer" whether to run for president in 2012.

...

"We need a nominee who really understands the times that we live in," Bachmann said today on CNN's American Morning program. She said the GOP standard-bearer must have the "political courage to do what has to be done" and needs "to be willing to be a one-term president if that is necessary to get the job done."

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Bachmann, a staunch critic of President Obama's health care law, said the next president needs to focus on the economy and getting the price of gas down to below $2 a gallon.

http://content.usatoday.com/communities/onpolitics/post/2011/03/michele-bachmann-2012-presidential-race-/1

[Dakine10 5,452]

Rep. Michele Bachmann, R-Minn., says she'll decide "by early summer" whether to run for president in 2012.

...

"We need a nominee who really understands the times that we live in," Bachmann said today on CNN's American Morning program. She said the GOP standard-bearer must have the "political courage to do what has to be done" and needs "to be willing to be a one-term president if that is necessary to get the job done."

...

Bachmann, a staunch critic of President Obama's health care law, said the next president needs to focus on the economy and getting the price of gas down to below $2 a gallon.

http://content.usatoday.com/communities/onpolitics/post/2011/03/michele-bachmann-2012-presidential-race-/1

If she thinks there is any way to get gas below $2 a gallon, then it's obvious she doesn't understand "the times that we live in".

[Usui Takumi 1,562]

Inflation Check. Is 2 USD cheaper than the early 90s?

Edited March 8, 2011 by Sousuke

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According to http://www.bls.gov/data/inflation_calculator.htm

$2 in 2011 is the inflation adjusted equiv of $1.31 in 1993.

[Usui Takumi 1,562]

According to http://www.bls.gov/data/inflation_calculator.htm

$2 in 2011 is the inflation adjusted equiv of $1.31 in 1993.

Ok, so Fuel prices were a little lower then. Probably in the 1.05-1.20 range.

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i remember paying .99 (once) in the mid 90s

Edited March 8, 2011 by \

[Obama 2012 1,714]

all throughout the mid-late 90's here, fuel prices were $0.899 a gallon.

It's possible to get it down to below $2 a gallon. However you would have to destroy the market for speculators for it to happen.

A barrel of crude should probably only be around $35-$40 right now, even with inflation.... However being the fact that more and more people invest in oil as a stable commodity, the less likely we are to see it go down.

It just sucks that the price of a barrel of crude effects the prices to much. It really wouldn't have to had politicians had the balls to keep our supply train here at home running better and built new refineries, but it is what it is and we are stuck paying the piper until someone does something about it.

Though, a swift recovery economically or deflation (which we REALLY need) would cause it to go down as well...

Just 2 1/2 years ago gas prices dropped back down below $2.... They could do it again...

ugh.

[Mr. Big Dog 10,747]

Rep. Michele Bachmann, R-Minn., says she'll decide "by early summer" whether to run for president in 2012.

...

"We need a nominee who really understands the times that we live in," Bachmann said today on CNN's American Morning program. She said the GOP standard-bearer must have the "political courage to do what has to be done" and needs "to be willing to be a one-term president if that is necessary to get the job done."

...

Bachmann, a staunch critic of President Obama's health care law, said the next president needs to focus on the economy and getting the price of gas down to below $2 a gallon.

http://content.usatoday.com/communities/onpolitics/post/2011/03/michele-bachmann-2012-presidential-race-/1

So, Michelle Bachmann is officially disqualifying herself from being considered for the job. I mean, she sets a reasonable expectation in one sentence and then makes unmistakably clear in the next that she doesn't meet that very expectation. And here she's referred to as Palin with a brain...

[JohnSmith2007 353]

So, Michelle Bachmann is officially disqualifying herself from being considered for the job. I mean, she sets a reasonable expectation in one sentence and then makes unmistakably clear in the next that she doesn't meet that very expectation. And here she's referred to as Palin with a brain...

Why do you say that? We can have $2 gas again. All we need to do is exploit the reserves that we are currently just sitting on. The left just doesn't want $2 gas again, thats all. In fact, cheap gas would improve the economy at the same time. A win-win for all of us.

[james&olya 1,121]

So, Michelle Bachmann is officially disqualifying herself from being considered for the job. I mean, she sets a reasonable expectation in one sentence and then makes unmistakably clear in the next that she doesn't meet that very expectation. And here she's referred to as Palin with a brain...

Palin could make anybody look smart!!

[spookyturtle 9,466]

I'd like to see gas down to .35 gallon again. $10 got you a full tank, 6 pack, pack of smokes, two burgers, fries and a coke at McDonalds. And change.

[james&olya 1,121]

I'd like to see gas down to .35 gallon again. $10 got you a full tank, 6 pack, pack of smokes, two burgers, fries and a coke at McDonalds. And change.

And what was your hourly income then? Want that too?

[spookyturtle 9,466]

And what was your hourly income then? Want that too?

It's all relative in a way. 50K bought a nice house. 10K got you a top of the line Caddy or Lincoln, Japanese cars rusted away in a few years and Detroit was king.

[Obama 2012 1,714]

And what was your hourly income then? Want that too?

say that out loud and then compare it to what he's talking about. Reflect. Then come back.

[Mr. Big Dog 10,747]

Why do you say that? We can have $2 gas again. All we need to do is exploit the reserves that we are currently just sitting on. The left just doesn't want $2 gas again, thats all. In fact, cheap gas would improve the economy at the same time. A win-win for all of us.

Bull. The reason why gas went back down close to $2.00 / gallon following the speculation spike of 2008 was a combination of the speculators cashing in and the global economy tanking thereby lessening demand on the global markets. What's driving up the oil prices these days is not a decline in production due to the unrest in North Africa. The Saudis are making up the difference. It's speculation that drives the prices up - we've seen this 3 years ago. Only this time, the global economy may not tank and so prices may not come down as fast or as much as they did in 2008.

These are the times we live in and I agree with Michelle Bachmann that the President needs to understand this. Of course, she and those that support and follow her do not understand any of this. We all know that the 'drill baby drill' crowd will become louder once again and Michelle will be cheering that crowd on. But both her and that crowd really miss the reason for what's happening on oil prices; they're missing the point that oil is a global commodity and that whatever we can add to the supply will be not much more than the equivalent of a mosquito-pizz. It's nothing from an oil price impact perspective compared to what you could accomplish putting an end to reckless futures commodity trading.

You're effectively paying a hidden gas tax to Wall Street. And Michelle and her crowd support that tax!