Gas Prices: Bush vs. Clinton vs. Obama
Here's a comparison the media won't be making:
8 years of Bush - Gas prices up 25%
8 years of Clinton - Gas prices up 38%
4 months of Obama - Gas prices up 31.7%
Where is the media outrage?
This very good post from a couple of years ago inspired me to look at updated numbers.
When President Bush took office on January 20, 2001, the national average gas price was $1.46 per gallon. Six and a half years later, on August 27, 2007, the national average gas price had jumped to $2.76, roughly 89% higher. Compounded annually, this represents about a 10% jump each year Bush has been in office.
Now, let’s compare the numbers over the same time period for President Clinton. (emphasis added)
When Clinton took office on January 20, 1993, the national average gas price was $1.06 per gallon. six and a half years later, the national average gas price had jumped to $1.22, roughly 15% higher. Compounded annually, this represents about a 2% jump each year.
Fast forward to January 20, 2009 when Bush left office. At that time, the average price was $1.83 per gallon, roughly 25% higher. Over Bush's entire term of office, gas increased at a compounded annual rate of approximately 2.85% per year. Now, compare that for the entire Clinton term. Over Clinton's entire term, gas went from $1.06 to $1.46 per gallon, approximately 38% higher. Over Clinton's entire term, gas prices increased at a compounded annual rate of approximately 4.1% per year (an annual rate that is approximately 44% higher than under Bush). None of these numbers are adjusted for inflation, but that likely makes little difference.
Since King Barry's coronation, gasoline prices have risen from $1.83 to $2.41. That is 31.7% in only four months.
Does the President really have much influence over this? In my opinion, the answer is no, but don't tell that to Nancy Pelosi who was convinced that Bush was responsible for the high gas prices that were present during a portion of his term. Where are the Congressional hearings, Nancy? Where is the media outrage?
Labels: gasoline prices, media bias
posted by John Danneskjöld @ 12:45 PM
23 comments
23 Comments:
Adjusting for inflation makes a huge difference. When adjusted for inflation gas prices went down under Clinton, not up. Gas prices have taken a sharp upward turn since 2003, hmmm what happened in 2003, oh yeah we invaded Iraq. Nahhh, that couldn't possibly have impacted gas prices. The only reason gas prices went down at the end of 2008 was the global economic melt down, and the reason they are climbing again is because the economy is beginning to improve, and gas prices always rise through the spring and summer when people are traveling more. That's why nobody is investigating it, because it's all just fucking common sense. A commodity you apparently lack.
ref:http://www.randomuseless.info/gasprice/gasprice.html
So, when you adjust for inflation over the Obama term (likely a negative number), how much worse is Obama's number?
That's great except you're only talking about the first several months. If you take the endpoints of the Bush Administration, it doesn't look that bad for Bush either. Because in the last two months (after the Obama election), the nation's average gasoline price dropped from $3.70 to $1.70 per gallon. So Bush only had 25% increase in gas prices but we didn't buy gas in any month except the first few and the last few. Oil companies didn't fleece us in between with $4 a gallon gas, did they?
Short memories. SELECTIVELY short memories.
I'd suggest reading the more recent posts on the topic. We are well past "the first several months" when you posted your comment in March 2011.
I suggest you go to: http://www.eia.gov/totalenergy/data/annual/showtext.cfm?t=ptb0524
The gas prices went down in 2009 and 2010.
Anon at 7:16 PM....the link you give shows average gas prices for the entire year, not the prices from when a person took office. Note that average gas prices dropped at the end of the Bush administration and my point about where gas prices were when Obama took office still stands.
And what about the gas prices on 7/28/08. They were $4.03 on the East Coast and $4.30 on the West Coast. Bush was in office at that time. The oil companies are playing us. They get millions, maybe billions, in tax benefits from the American people, then turn around and screw us with high prices, making billions in obscene profits each year. Stop blaming OPEC!
So...for what else is Obama responsible? The tsunami? Earthquakes? The Greek meltdown? Lee Harvey Oswald?
Its funny how they tell a story. They tralk about when they get in office and leave office only, not what they do while in office. When Bush was still in office I was paying 5.00 a gallon for diesel. So who's better? You can't polish the truth to make another sound bad. If the president can't inforce things like lower gas prices then what is he there for?
How 'bout some facts? You know, for your article.
http://zfacts.com/p/35.html
Oh, that's right, it's an opinion piece, so no time for facts.
FYI , the us govt makes more $ per gallon of gasoline sold than the oil companies...
You are forgetting the reason why gas was so cheap during Clinton's administration. The fact was he dipped heavily into our national reserve. You know that thing we have in case we go to war with one of the countries we buy most of our oil from. Bush spent his administration replenishing the greatly diminished reserve. I mean, someone needs to say it!
Seriously? That's you argument? Only someone who isn't interested in actually thinking or being informed would blame Obama for the mess we are in. He has done more to get us out of the mess HE INHERITED than anyone can imagine. He has at the VERY LEAST stabilized the economy for the short term and made it viable to growth and a turnaround in the long term. People want to talk about gas prices? You want to talk about gas prices? When Bush took office, the avg. was around 1.40, the high during his tenure was 4.06. And you want to act like it was Obama's fault that it was 1.83 the DAY HE TOOK OFFICE AND NOW HAS GONE UP? Ridiculous. Simple.
I sugest this site to fact check if you are interested. you can pick any date and see by year or however you want.
http://www.wolframalpha.com/input/?i=average+gasoline+price+january+20%2C+2009
The numbers and analysis aside, the price of gas cannot really be attributed to the president. Decisions to drill more domestically are not soley the presidents. That being said, it is quite hypocritical reading that Pelosi was blasting Bush about gas prices, when the Democrats had majority in the house, so were part of the problem! Do I hear anything in the big media outlets blasting Obama, nah.
If you compare Bush and Obama gas prices, there is no Statistically significant difference. If you ignore all but the last day of Bush's terms, then yes it looks bad for Obama.
To anon: Today is March 3, 2011. I just filled my gas tank for $3.79 a gallon. No amount of adjustment for inflation excuses that. How's that Hope and Change working for ya?
Everyone needs to realize it is not the democrats or the republicans alone causing these problems. The oil companies are pulling the purse strings! Greed. How many billions of government dollars do these companies get for research and advertising every year?? Advertising?? For what so we know where to get gas? I think we figured that one out. As for research the oil and gas companies have known how to save and make energy for decades. Proof the car companies have been trying to get electric cars on the roads for years, do any of the gas companies have electric full at their stations??? Only what they have to it cuts into there profit. Also their excuses are lame. Have to close down refineries because they are out dated? Why didn't they fix them as the went along??? Every other company does and why are we paying for their greed and miss management? Their fines? Their week long conferences in the Caymens? I'd like to go to! Wait I can't I am paying ridiculous Prices for gas so they can go!
https://www.facebook.com/pages/Time-for-a-Change-in-Politics/236290196402382
Your right obama has helped so much..........a stimulus package that upgraded red lights in new york, and built parks in various states, and who know what else. Isnt the were state generate there own revenue? Btw did the guy obama hired right after he was elected figure out why the the economy is in the toilet?
I think people are forgettting a core aspect of this dilema. The gas prices beagan their climb not beacuse of a presidents choice, but because Bush AND Clinton made poor decisions on ligilation. Allowing the overturning of the Glass Steagall Act and allowing the crooked business that is Wall Street to bet on oil prices is what has caused these prices. What we need, is to het back to the true FDR days when we did not let the prices of needed items (food, water, fuel)sky-rocket and leave the American people slaves to the oil barrons.
I HAVE JOURNALED OBAMA FROM DAY-1. . MAKE NO MISTAKE AMERICA HAS PUT AN ENEMY WITHIN OUR GATES. THIS ELECTION WILL DETERMINE WHETHER MY KIDS, YOUR KIDS GROW UP FREE------WHETHER AMERICA LIVES OR COLLAPSES.
WAKE UP AMERICA---THIS IS NOT JUST AN ELECTION, EACH AMERICAN THAT GOES INTO THE BOOTH WILL DECIDE WHETHER MILLIONS OF MEN & WOMEN THAT DIED FOR OUR FREEDOMS GAVE THEIR LIVES IN VAIN.
MOST IMPORTANTLY, EACH OF US NEEDS TO ASK GOD FOR FORGIVENESS AND ASK GOD TO SAVE OUR COUNTRY------HE IS THE ONLY 1 WHO HAS THE POWER TO SAVE US.
GOD LOVING AMERICAN !
Comments are closed on this thread.
Make no mistake about it, when Obama added a record breaking $6 trillion to our national deficit in his first term (4 years)as compared to Bush's $3.4 trillion in 2 terms (8 years) this caused a dramatic devaluation of the U.S. dollarS buying power! Proof of this lies with Canada who is our largest importer of foriegn oil with their Dollar know being worth more than ours for the first time in 71 years! Likewise, Mexico who is our second largest importer of oil, there peso has gone from approx. a 10 to 1 disadvantage to a 5 to 1 disadvantage against the U.S. dollar! Extreme poor decisions on the Obama administration over and above anything that Clinton and Bush could have done considering that they were involved with much higher demands on the supply side of the equation will prove fatal for this country when the demand goes back up to 2008 expectations and consumption rates! ...In relative terms, Obama KILLED us and will have doubled the national debt by the end of his second term and gasoline prices will sky rocket far beyond the record prices that he has already set if economical demand ever comes back!
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