Obama flip flops on releasing Oil from the Strategic Reserve

[Shockwave]

Domestic production went up under Obama's Presidency because of private drilling in the Bakken. The POTUS has almost no power to affect how much drilling occurs on private lands. But Obama has been restricting how much oil drilling occurs on public lands - and that just restricts supply, thereby driving prices up.

Hes gonna just keep asking the same question.
But why has total production gone up since other presidents? 

[Straw Man]

Domestic production went up under Obama's Presidency because of private drilling in the Bakken. The POTUS has almost no power to affect how much drilling occurs on private lands. But Obama has been restricting how much oil drilling occurs on public lands - and that just restricts supply, thereby driving prices up.

any idea why Federal production went down under Bush from 2002 to 2004 and then again in 2007

Do you believe the  POTUS has any significant ability to control the price of this commodity?

[Shockwave]

any idea why Federal production went down under Bush from 2002 to 2004 and then again in 2007

Do you believe the  POTUS has any significant ability to control the price of this commodity?

Price through Supply? Yes. Through Federal drilling and permits.
Price directly? No.
Maybe Federal production went down under Bush because it made more money for his private sector friends when Supply is down and Demand is up?
Or it could be that he got fillibustered to hell also.

Just thoughts.

[howardroark]

any idea why Federal production went down under Bush from 2002 to 2004 and then again in 2007

Nope.

Do you believe the  POTUS has any significant ability to control the price of this commodity?

The way things are now, yes.

There are three things that fall under the Executive Branch and thus the power of the POTUS:
1. Oil drilling and exploration on federal lands. Obama has been making this more difficult, thereby restricting supply and driving up prices.
2. Amount of oil in the SPR. By selling off the SPR's oil, the POTUS could reduce the price of oil.
3. The regulations concerning oil drilling, refining, etc. Most federal regulations in this country are issued by the regulatory agencies which are part of the Executive Branch. The POTUS can affect what direction these agencies take via appointments and direction. By removing the unnecessary regulations, the POTUS can make it easier for entrepreneurs to produce energy.

[Straw Man]

Nope.

The way things are now, yes.

There are three things that fall under the Executive Branch and thus the power of the POTUS:
1. Oil drilling and exploration on federal lands. Obama has been making this more difficult, thereby restricting supply and driving up prices.
2. Amount of oil in the SPR. By selling off the SPR's oil, the POTUS could reduce the price of oil.
3. The regulations concerning oil drilling, refining, etc. Most federal regulations in this country are issued by the regulatory agencies which are part of the Executive Branch. The POTUS can affect what direction these agencies take via appointments and direction. By removing the unnecessary regulations, the POTUS can make it easier for entrepreneurs to produce energy.

you think the things you listed above would have give Obama the abilty to SIGNIFICANTLY control the price of this commodity?

btw - when Bush was in office I have to assume he had a pretty different approach to regulating oil companies yet we saw the same ebb and flow of Federal drilling and bush famously said he didn't have a magic wand (or magic pen I assume) to bring down oil prices

most people on the right and left agree and understand this

Also, the disasterous BP oil spill is still be cleaned up and still a public relations mess and that has got to be influecing the public sentiment as well as the administration

I personally just don't see much of anything that any POTUS can do to try to control a worldwide commodity market and let's also not forget the influence of OPEC.   

[howardroark]

you think the things you listed above would have give Obama the abilty to SIGNIFICANTLY control the price of this commodity?

Not quite sure what you mean by "significantly," but the effect of Obama taking the free market pro-energy initiative I outlined above would be increased oil supply and thus lower prices. And given the fact that demand is very inelastic in the oil market, price falls would be significant relative to the supply increase.

btw - when Bush was in office I have to assume he had a pretty different approach to regulating oil companies yet we saw the same ebb and flow of Federal drilling and bush famously said he didn't have a magic wand (or magic pen I assume) to bring down oil prices

Why would you assume that? Federal government spending and regulations exploded under Bush. If anything, I'd assume that Bush was slightly less shitty than Obama - and I think the data bares that out. Oil production on federal lands has fallen since Obama has become POTUS.

Also, the disasterous BP oil spill is still be cleaned up and still a public relations mess and that has got to be influecing the public sentiment as well as the administration

True, but instead of dealing with the problem directly, the federal government has decided to take drastic actions which do not deal with the problem - e.g. restricting oil exploration/drilling.

I personally just don't see much of anything that any POTUS can do to try to control a worldwide commodity market and let's also not forget the influence of OPEC.   

Many economists agree that OPEC no longer has any power. Like most cartels, it has already fallen apart. And yes, it is a worldwide commodity. But the fact of the matter is that reduced supply = increased prices. And Obama's policies (and the policies of his predecessors) have restricted oil supply.