Monday, March 12, 2012

Obama's achilles heel, gas prices

Yet he keeps wasting time and money on renewables:
Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Steven Chu, now the energy secretary, said in a 2008 interview with the Wall Street Journal.

A gallon of regular costs more than $8 there. The Oil Price Information Service thinks the average price here will rise to $4.25 a gallon by the end of April. That would exceed the record of $4.11, set in July 2008.

A gallon of regular cost just $1.85 the day before President Barack Obama was inaugurated. If the price were to double again during a second Obama term, Mr. Chu's goal could be achieved.

Sen. Obama expressed little concern when the price of gas was approaching the current record high.
"I would have preferred a more gradual adjustment," he told CNBC in a June 2008 interview. "But if we take some steps right now to help people make the adjustment ... then I think we can come out of this stronger and have a more efficient energy policy."

Earlier, Mr. Obama told the editorial board of the San Francisco Chronicle that "under my plan of a cap and trade system, electricity rates would necessarily skyrocket."

Because of the continued depreciation of the dollar at the hands of the Federal Reserve it is my view that oil prices will continue higher. The oil price will increase until the economy breaks. A gas price getting into the $4.00 and above range will provide ample ammunition for the republican nominee to attack Obama on his shortsighted green agenda which has nothing to do with high gasoline prices. Of course the president has no intention of doing anything about high gas prices as his own words betray his agenda. Raise the cost of energy in order to force consumers towards accepting overpriced green energy as an alternative.

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