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

Texas and gas prices: It's complicated


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. Amy in Iowa

    I wonder how much that bus is paying for gas on average per day?

    February 28, 2008 06:52 pm at 6:52 pm |
  2. Darth Vadik, CA

    We have gas reserves highest we have had in this country in the past 14 months, plus we are exporting oil to the oil rich Nigeria. I thought if we had excess oil in this country the prices would be lower.

    At the same time Exxon-Mobil has record setting profits.

    I don't even want to hear about the value of the dollar excuse.

    Can any one tell me how this is not extorsion, and how come some people are not in jail?

    February 28, 2008 06:55 pm at 6:55 pm |
  3. Teresa in Kansas

    Bush is an oilman from Texas, so how "complicated" can it be...hmmm?

    February 28, 2008 06:59 pm at 6:59 pm |
  4. Sukie

    Why aren't the oil companies REQUIRED to spend a percentage of their BILLIONS of dollars in profit they are making off the peeps to build new refineries????

    Who has the power to require this?

    February 28, 2008 07:16 pm at 7:16 pm |
  5. Steve, PA

    Get used to it, if McCain is president. Nothing will change.


    February 28, 2008 07:16 pm at 7:16 pm |
  6. Dani

    I live in Texas, and gas is outrageous right now in contrast to what most people make in a year. I am thankful that I work from home or I would not have enough money to put gas in my tank to get to work and back being that I live in a suburb of Houston. The gas prices have gotten really out of control.

    February 28, 2008 07:20 pm at 7:20 pm |
  7. Tiffany

    What country is the current president living in, to say he has not heard about $4 a gallon gas, too many vacations or is he the "CHILD LEFT BEHIND" ?

    February 28, 2008 07:21 pm at 7:21 pm |
  8. Jose Felix

    I haven't even researched it, but I bet that gasoline and oil prices took record jumps only after a Bush got elected into office.

    With all of their Saudi and Texas oil buddies benefiting it's not hard to put two and two together. I hope Obama does an investigation when he's President. I'm sure it won't be a much different outcome than Cheney hooking up his buddies at Halliburton with an 18 Billion $ contract for Iraq.

    My advice is invest all of your money in oil companies and sell when Bush leaves office.

    February 28, 2008 07:23 pm at 7:23 pm |
  9. Vig

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

    February 28, 2008 07:25 pm at 7:25 pm |
  10. Fred Evil

    And while this is going on, The Dread Pirate Roberts, appointed to lead the Supreme Court's charge against the American People, is of the opinion that 2 1/2 weeks of profit for Exxon is TOO MUCH for their destruction of MILES of Alaska's coast after the Exxon Valdez disaster. 35,000 Americans have suffered from that disaster, and Bush's lackeys can't bring themselves to do anything about it, 17 YEARS later!

    Thank you Mr. Bush, for everything you've done to destroy Americas way of life and happiness. Can you just leave now please?

    February 28, 2008 07:31 pm at 7:31 pm |
  11. Ron

    Forget the oil if you vote for Hillary Clinton.She will make them pay and tell them to straighten up or be shaken up and a vote for Obama will gain more pain

    February 28, 2008 07:32 pm at 7:32 pm |
  12. Diana King

    God help us if Obama or Hilary get into power. when they get through raising taxes , We won't even think about gas. I did a research on Bush he has the most conservative home in Texas that using the least about of enegery
    I beleive the oil companies are bigger than any american can imagine and has more power than the President

    Diana fromCalifornia wanting to move to Texas

    February 28, 2008 07:34 pm at 7:34 pm |
  13. Rob

    Don't get me wrong here, i hate the high prices too, but the reality is this...

    If people are so obsessed with driving their SUV's then the demand on oil isn't going to drop. If the demand is this high, then they'll charge higher prices for the oil. It doesn't matter how much we have in reserves and how much we export to Nigeria, nor how the dollar is struggling against foreign currencies. If they can get people to pay it, and people still pay it, then they'll charge for it.

    If a gallon of milk becomes 5$ each, and we all need milk, and people continue to pay for it, then what's the crime? Yes, the oil companies are making a killing, but they can, because our society is too stupid to catch on to the fact that diesel gets 30% more efficiency and is now cleaner burning then regular gas.

    It's society's fault, not big oil, not government, but US!! we're to blame, cause we're too greedy of a society and we just expect things to be cheap. if we don't regulate ourselves, then don't expect washington to do it for us...

    February 28, 2008 07:40 pm at 7:40 pm |
  14. Oil-less in Texas

    The President has made sure that the stock portfolios of his cronies and family members are well padded...but the average working guy or gal here is hurting at the pump, at the supermarket, with the utilities...
    They are giving huge tax abatements to Exxon, Shell, etc...to do almost anything they wish with. Yet they refuse to fix NAFTA.
    Gonna be tough for ANY political party/individual to turn this around any time soon.

    February 28, 2008 07:44 pm at 7:44 pm |
  15. Interesting

    I don't believe in conspiracies, but I believe that businessmen take advantage of opportunities. It's no coincidence that oil is 3 times higher than before GW Bush. And no coincidence he's against raising taxes on oil companies. I'm also certain, he, like his father will be making money after his presidency as an advocate for oil interests.

    February 28, 2008 07:44 pm at 7:44 pm |
  16. tom

    Beware the obama haters who call themselves democrats and Clinton admirers. They are not Democrats and they are not Clinton supporters. They are vehement right wing haters and Rush limbaugh advocates.

    February 28, 2008 07:45 pm at 7:45 pm |
  17. Ron Az

    You can't expect the government to force them to build refineries or lower the prices, The oil companies own the Government.
    Can someone explain to me how we vote a normal person into the Senate, congress, or the whitehouse and in 4 years they are millionairs? I thought they only made like 80,000 a year! How does the magic happen?

    February 28, 2008 07:48 pm at 7:48 pm |
  18. maynard

    post my opinion on this if you have the guts to do it

    February 28, 2008 07:50 pm at 7:50 pm |
  19. JOHN


    February 28, 2008 07:50 pm at 7:50 pm |
  20. aware

    Hillary the HOPE of 08 – she has the will and the brains to do the job.

    If not Hillary, then vote for McCain! 🙂

    February 28, 2008 08:10 pm at 8:10 pm |
  21. George

    What is surprising id President Bush said he had not heard about $4.00 gas until to day. I wonder were he as been ? On cloud 9?

    February 28, 2008 08:29 pm at 8:29 pm |
  22. Ken, Plano, TX

    It's not extortion, it's an auction with everybody betting on higher prices next month. The same thing that happened to technology and housing is happening to the price of oil: the market's being driven by speculative greed and an excess of available money.

    It must be tough on the oil speculators, having too much money; where might they be getting it? Could it be that oil profits are being systematically rolled back into the commodities market, to keep the price climbing?

    February 28, 2008 08:30 pm at 8:30 pm |
  23. Gary

    Why do you think Bush hasnt really cared about going after Bin Laden? Ever watch farenhieth 911 ? They have been buddy's for yrs ,if you believe the dvd is the facts.I do. I guess were all going to have to go back to horses and wagons.Maybe the Gas Company"s etc. will get the hint.

    February 28, 2008 08:31 pm at 8:31 pm |
  24. Alice

    Texans, you can redeem yourselves – just do the right thing and vote for Hillary.

    Surely you don't want to be responsible for an inexperienced disaster (who, in the long run, may be maybe even worse than airhead Bush).

    Can you just PICTURE Obama debating McCain:

    "Um, yeah, I agree with everything McCain just said. I know about foreign relations and stuff. Man, I read the papers. And you're just being racist anyway. Can I recite my change hope unity speech now?"

    OMG – it would be HYSTERICAL if it wasn't so serious!

    February 28, 2008 08:32 pm at 8:32 pm |
  25. Sandra

    Republicans are voting for Obama and mudslinging Hillary and the media has been highly biased against Hillary. No wonder the election is skewed. It really does not represent the people. The media is getting big money from Obama camp from BIG DONORS. The republicans have been calling it "Stop Hillary Express". They are not patriotic and is outright dangerous. Democratic voters have fallen to their ploy. Obama is dangerous, misleads and plagiarizes speeches. Hillary doesn't put other countries ahead of America and properly respects the flag during the pledge of allegiance.
    Be smart. Use your best judgment and vote for what is best for America to the best qualified candidate Hillary’08. Be patriotic.

    February 28, 2008 08:32 pm at 8:32 pm |
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