Kathleen
The Hill gave a shot at clarifying the facts behind the partisan rhetoric surrounding the rise in gas prices. I take issue, though, with the heavy reliance the author puts on the Energy Information Agency for his “nonpartisan” numbers. His numbers don’t include oil shale deposits and the areas banned for exploration by the administration when he speaks of “proven oil reserves” either.
The Office of the President is always, whether fairly or not, blamed for the rise in gas prices. However, as late as February 2011, “[the] Obama Administration acted in contempt by continuing its deepwater-drilling moratorium after the policy was struck down.” It seems to me that President Obama’s “ideology” would love nothing more than to resolve this nonsense by making it an attack on oil companies with a bottom line of reshaping his image towards “green tech.”
Get your commodities information from Whiskey and Gunpowder if you don’t want to be duped by glossy numbers that feed into our President’s narrative. Whenever I need an authoritative, clear estimation of a marketprice or investment, I’m biased towards the information people who have a stake in the race read, not the persuasive storyline put forth by politicos.
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Comments
Considering the wide-spread inflation in all commodities and food, it seems reasonable to lay the problem at the feet of the Federal Reserve.
Then, many people charge the Fed and Fannie Mae and Freddie Mac with responsibility for the housing bubble and recession, and the Fed for initiating the Great Depression.
There's a strange dichotomy in the Otter of Openness' administration as pertains to these economic bad news issues.
The problems are simply "not his fault". Repeatedly this official meme is paraded in front of media groupies who lap it up and spread that narrative to the gullible world.
So if one naively accepts his inculpability, then at this stage of his term why would that same person illogically consider the Otter had the power to "fix" it?
Probably this only applies to already deceased voters, so I might be wasting time.
There are few things more democratic than free markets. With all the hyperbole about this subject, you can be sure that some people are trying – real hard – to distract people from using common sense, and that’s very telling.
There should be no question that there are real factors contributing to higher oil prices:
1. One factor is speculators making completely legal projections about where they think prices are going. And this is NOT market manipulation.
2. Another factor is the Obama administration’s hostility towards Gulf drilling which everyone can readily see with the shenanigans concerning the moratorium.
3. Another factor is the political unrest from North Africa to the Middle East, about which, it seems the USA has absolutely no coherent policy.
4. The Obama administration is not exhibiting common sense with respect to energy issues and this is causing people to be concerned about our (non-existent) long-term energy policies. Lets not even talk about the 19K people that work for the Dept. of Energy.
5. The government is now busting chops with respect to the fluids used to frack wells for natural gas production. This is happening when it seems like we have so much natural gas that it could possibly (heaven forbid from their point of view) solve many of our energy problems.
How can anyone possibly have confidence in a president who:
A. Wants to bankrupt the coal industry (his own words).
B. Have the EPA regulate CO2.
C. Conjure up an entirely new market for Carbon Credits based solely on government regulations.
D. Keep going along with no coherent foreign policy – even though we have 19K people working for the Dept. of Energy.
E. Phase out fossil fuels BEFORE we have viable replacement technologies.
The Obama administration has done nothing but create a concerto of chaos and doubt surrounding all issues that affect energy. We don’t need to hear people citing all the minutiae that is associated with the data analysis that is being put forth about this subject.
When the President of the United States does numerous things that don’t make sense – people become concerned. Now, it is not only the banks, and Wall Street, and businesses in general that have no confidence in the government, nor do they feel like they know what’s coming down the pike, but the energy sector as well that is being affected by our inexperienced, inept and underhanded executive branch. And for these OBVIOUS reasons, oil prices are increasing.
There once was a "green" black President
who targeted black gold unhesitant
He forbade deep blue drilling,
spent in the red for an economy chilling,
And worse, there's no black and white to prove he's a natural-born resident.