February 28th, 2008
05:42 PM ET
6 years ago

Texas and gas prices: It's complicated

CNN

Watch CNN's Ali Velshi take a look at how rising oil prices are affecting people in Texas.

SAN ANTONIO, Texas (CNN) - Traveling around Texas this week with the CNN Election Express, we've been talking to voters and have found the state of the economy to be one of their primary concerns. High gas prices are cited by many as a major burden, and a contributing factor to the general economic slowdown.

But in Texas they produce oil, so high oil prices are an economic benefit to some of the people here.

CNN Senior Business Correspondent Ali Velshi takes a look at some Texans' complicated relationship with record oil prices.

– CNN's Wes Little 


Filed under: Texas
soundoff (47 Responses)
  1. The Force

    It was always said that the devil would have a million followers and charm everyone into thinking he's the guy to change the world. And change it he will. This is what you're voting for if you vote Obama

    February 28, 2008 08:33 pm at 8:33 pm |
  2. fair tax in la.

    WHY DON'T THE LIBS LET US DRILL?
    ASK YOURSELVES THAT FOOLS!!

    February 28, 2008 08:33 pm at 8:33 pm |
  3. Frank

    Enough already in profiling Clinton's so called 66% of the Texas latino voters. Why hasn't there been one feature by one of the Best Ploitical Team members on the 80+% of blacks supporting Obama. Afraid of getting a backlash that the poor Latinos are to timid to mount?Enough already in profiling Clinton's so called 66% of the Texas latino voters. Why hasn't there been one feature by one of the Best Ploitical Team members on the 80+% of blacks supporting Obama. Afraid of getting a backlash that the poor Latinos are to timid to mount?

    February 28, 2008 08:37 pm at 8:37 pm |
  4. V

    Vig: "We have had a Texan in the White House for the last 8 years – Texas what do you have to say for yourselves?"

    We're sorry.

    February 28, 2008 08:42 pm at 8:42 pm |
  5. ToddT

    We are not in recession, but Obama reacts to Bush's comment about $4 a gallon gas by stating that we are in a recession. Not surprising, Obama does not even know the definition of a recession. An Obama nomination will crash the market, and send the US dollar into its final free fall as worthless currency. It is amazing how similar Obama is to Bush as he runs for the party’s nomination, they were/are both are praised by the media during their primary campaigns when their campaign premise is by far the most overall inexperience, naivety with regards to the economy, lack of foreign relations knowledge and inferior judgment, and most importantly, a component of the tactical GOP process of disenfranchising the Democratic voters by interfering with the election process.
    The GOP has recruited “Crossover Voters” or Obamacans against Hillary in open primaries and the GOP decided to move up the Florida “closed” primary – to disenfranchise the Florida Democrats – both of which would have given Hillary Clinton a substantial lead in delegates and given the momentum to Hillary. Hillary supporters will have to unit to the greatest extent, but still may not be able to win against GOP recruited Republicans against Hillary. The Republican transition is going to be successful with an Obama nomination as the temporary GOP voters will vote as Republican again in the General Election. However, I trust the Automatic Delegates will see through this underhanded GOP tactic and post their vote for Hillary Clinton for the Democratic Nomination, after she wins Ohio and Pennsylvania.

    February 28, 2008 08:43 pm at 8:43 pm |
  6. Emily

    Is it true? Was Obama ever sworn in to any office using the Koran?

    February 28, 2008 08:48 pm at 8:48 pm |
  7. Dan (TX)

    Yep, always blame the oil companies. Never mind that they are only making about a 15% profit on their product – actually below average for most major US corporations.

    The real problem that no one seem to want to talk about is the DECLINING DOLLAR. Not too long ago the Euro and Dollar were about equal in value – today it takes about $1.47 to buy 1 Euro.

    Just think if the 2 currencies were equal today (in terms of purchasing power), every product imported would only cost 68% of its current dollar price. Instead of $100 / barrel of oil it would be $68 a barrel. Gasoline would not be nearly as expensive. Instead of $3/gallon it would be $2.04/gallon. Pretty depressing isn't it?

    The real blow to American prestige is when Oil and Gold are priced in Euros instead of Dollars. Get ready – it'll happen sooner than you think if the Fed keeps dropping interest rates.

    The US can't afford to keep sending $400 billion a year to oil exporting nations. The world is awash in "petrodollars" – not the US oil companies.

    Until the US weans itself off imported petroleum and takes steps to strengthen the dollar, the US economy is in for a rough ride. Can you say "second world" nation?

    February 28, 2008 09:01 pm at 9:01 pm |
  8. Charlotte

    Where is Exxon exporting oil to? I understand they export it, but I'm not sure.

    February 28, 2008 09:08 pm at 9:08 pm |
  9. ryt

    "But in Texas they produce oil, so high oil prices are an economic benefit to some of the people here."

    This is very true. My family has owned an oil co and had oil interest for a century and I've always thought the same thing. Some of them complain about the price but I know they are getting residual checks. Then when it's reversed they don't like that the checks are smaller.

    I always just look at it as it's balancing out for me in the long run.

    February 28, 2008 09:13 pm at 9:13 pm |
  10. Willy

    As long as the democrats continue to stand in the way of building new refineries and drilling in America so we can meet the demands of America's fossil fuel needs then we will see the prices rising as they, the democrats in congress, bow down to the Middle East.

    February 28, 2008 09:15 pm at 9:15 pm |
  11. R. in Missouri

    Gas prices are simply the result of supply and demand. There is no price gouging in a free market. The producers are simply charging a price that allows them to make some profit, while making sure that this price is one which people are willing to pay.

    Demand is high due to the types of vehicles that people are driving. If people want to whine about gas prices, they need to trade their Expedition/Tahoe in for something more fuel efficient. Otherwise, simply continue driving what you want, or just take the bus. It's that simple.

    Oil companies are being unfairly attacked. They are just trying to survive in a competitive market, and their employees need to put food on the table just like the rest of us. Give them a break!

    February 28, 2008 09:23 pm at 9:23 pm |
  12. Lucky

    Frank.. I'm a Latina woman, and I would not vote for Obama. I'm not afraid of any backlash. I believe your comment about Latinos being timid is very insulting. Hillary all the way 08.

    February 28, 2008 09:42 pm at 9:42 pm |
  13. Bayou Joe

    It's Bushes Fault. It"s always his fault. Blame, Blame, Blame. Bush did this. Bush did that. He must be one powerful guy. Did it all by himself. Maybe its your fault for not getting an education and earning more money so you could afford the price of gas. Europe is paying $7.00 per gallon. Our gas is cheap and the oil companies producing it in Texas pay more taxes in one day than you do in 10 years.

    February 28, 2008 09:45 pm at 9:45 pm |
  14. Anonymous

    WE KEEP BUYING, THEY KEEP SELLING. PERIOD

    February 28, 2008 10:05 pm at 10:05 pm |
  15. Mothers in Ohio For Obama - MOFO

    Mothers in Ohio For Obama – MOFO – strongly believes that Obama will UN-complicate this oil dilemma!

    OBAMA '08

    February 28, 2008 10:13 pm at 10:13 pm |
  16. Recession-proof spoof

    Gas is $4 a gallon and the U.S. economy is headed on a downward spiral. Evacuate now and support China.

    February 28, 2008 10:19 pm at 10:19 pm |
  17. Gym Jones

    Gas prices are simply the result of supply and demand. Simply make your own gas and supply your own demand. Be self-sufficient, people. It's really that simple. Think about it.

    February 28, 2008 10:21 pm at 10:21 pm |
  18. jp/michigan

    It is time to use other fuels besides oil. We only have this one earth to take care of and I believe it is time to do so. Oil companies make more than their share of profits. They should be the ones building new refineries, and developing new fuel instead of gas with the monies made from American buyiers. Green jobs is the way to help the environment and cut us from outside American oil needs.

    February 28, 2008 10:23 pm at 10:23 pm |
  19. Gym Jones and Nose-job Bob

    Create a self-funded, independent Deportation agency, boost the economy and win !!!

    February 28, 2008 10:24 pm at 10:24 pm |
  20. edumacated

    CNN doesn't have the courage to print the truth: the economy is weak.

    February 28, 2008 10:25 pm at 10:25 pm |
  21. Hillary 08

    Add me to the GROWING list of protest votes going toward McCain if Hillary is not the democratic nominee. Poor Obama will lose half of the democratic base during the general.

    February 28, 2008 10:38 pm at 10:38 pm |
  22. Jed in Texas

    The selfdelusion of some of you has reached epidemic proportions.The greater depression is on the way.

    February 28, 2008 11:02 pm at 11:02 pm |
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