How could Obama lower oil prices?

Oil is a global commodity. We do not set the price. The market sets the price. Doubled demand from China and India keep supply tight. Political instability in major producing areas such as Nigeria, Iran, Iraq, Venezuela create price spikes over fear of supply cut offs.





The dollar/Euro also affects price. As Fed reduces interest rates (fed fund interbank borrowing rate) the dollar value declines exacerbating exchange rate for Euros. OPEC is paid in Euros.





Recession reduces demand. It also reduces demand for basic industrial commodities like copper, gold and oil. Price will decline in response to recession. Higher gas prices force conservation and less driving which also drops price.





Oil is fungible. It will flow to the highest price. Price controls are the surest way to create a shortage and higher prices. Price controls also chill exploration and production as oil companies will defer until price controls end.





Higher prices are a fact of life.





Strategic Petroleum Reserve (SPRO) is for war. It ensures USA cannot be cut off from petroleum for refining into military needs of diesel, gasoline and jet fuel. SPRO also can alleviate unforeseen supply inerruptions from acts of God such as hurricanes, foreign wars or revolutions.





Price controls are the worst.





The market is adjusting now.How could Obama lower oil prices?
Obama can't really lower oil prices neither can any other presidental candidate, presidents can only take actions that generally raise prices. The answer is not to lower price but to lower demand. If demand is low the price MAY come down. The thing we should be doing is demanding more efficient cars and trucks plus improve public transportation. We should have trains everywhere like Germany. I was stationed there for 2 years and never needed a car. short walk got me to a train to town and to the long distance train cheap and easy no smog, wtf!How could Obama lower oil prices?
He can't. Oil is a world commodity. This is the result of China and India building factories, buying autos and trucks, and just generally moving into the correct century. There is more pressure on the supply. It's supply and demand. And it is never going back to 75 cents a gallon. In fact, Obama and Hillary was to put a carbon tax on a gallon of gas of 50 cents per gallon.
Gasoline usage in Europe is totally different than it is here, so the prices are higher but it's not a problem for the average person like it is here. They ride bikes, walk, transportation other than using vehicles all the time. Just look at their streets...most of them couldn't fit one of our big SUV's through them. So don't compare our gas prices and theirs.
In a nutshell; Oil prices aren't going to go down. Period. All the presidential candidates know this.





Perhaps a short-term solution? Drive slower, ride a bike and walk.





Bobo turn off your 'don't let anyone add me as contacts' option, cause I can't add you!
He can't unless he subsidizes oil and then we'd just pay for it with taxes.





Gasoline in France is $10 a gallon and in Turkey it's $12 a gallon.
nothing. no president and or future president can. he can influence ppl and have a say in an event that will help lower oil prices but other than that he or anyone else can do nothing.
He can't, since the oil prices are not decided by anyone in America. The Obama supporters seem to think otherwise.
He could ask the Chinese and Indians to stop buying it.


Yeah, right. Like that's going to happen.





Please go learn something about energy economics before asking another dumb question.
he can't he's just making a bunch of promises tht he probably won't keep just so he can win the election and become the first black president.
How could Americans vote 4 the man who RAISED OIL PRICES . If I was president, I'd jail anybody who bought a SUV in the last 10 years.
By selling some of that ';snake oil'; he's promising the American people.
Encourage more people to take the -bus-. (Once he extracts his former buddies from underneath it.)
Sell top secrets to Iran.Trade plutonium for oil.
Neither he or McCain can do a damn thing about oil prices. Get used to it!
Drill in Alaska - something a Liberal will never do.
He CAN'T


Just another lie from him if he says otherwise.
by using his charisma on OPEC.it will work on our enemies right?
No man can do that, but a good Administration can try. Go Obama 08!