Gasoline prices have spiked to $3.50 per gallon recently. That is an increase of 90% since Obama became president. That’s quite stunning but the scary thing is we are not anywhere close to the peak driving season. How high will the price go? The smart people are saying at least $4 and maybe even $5. Even a hillbilly like yours truly can figure that it is bad news for an already floundering, low growth economy.
Now, the mouthpiece for Obama, the bumbling Jay Carney, will jump through his backside to claim that Obama is not to blame for the dramatic spike. He’ll tell you that domestic energy production is up since Obama took office. Can you believe the carnival barker would even go there? All the evidence points to the fact that Obama has done what he can to LIMIT production. He shut down the Gulf of Mexico and even now deepwater permits are next to impossible to obtain. America has turned that business over to the Chinese and Cubans. Obama has even said he wants to be Brazil’s best petroleum customer. Drill, Brazil, drill! That must be a great comfort to the offshore workers in Louisiana.
There is serious tension over in the Middle East and the Bama folk will tell you that it is putting a strain on prices. You mean the Arab Spring’s Muslim Brotherhood might use oil as a weapon? Quick, somebody tell Secretary Clinton. And somebody tell Tiny Tim Geithner and the Ben Bernanke that printing trillions of dollars to flood world markets devalues the currency and spikes the price of oil. Even the stone-age Jihadists can figure that scam and they don’t want the dollar. In fact the whole world is in search of a substitute currency. If they ever settle on one, well, $100 per bbl oil will be a quaint memory.
Back in 2008, Obama has said he liked the idea of higher gas prices but preferred gradual increases. Yeah, right, if only the world would cooperate with the way a statist thinks. Nevertheless, Obama has been true to the cause and the recent crap-canning of the Keystone pipeline is a smoking gun. That decision is all his . . . no Bush to blame and no circumstances out of his control. Obama killed Keystone and killed thousands of jobs at the same time.
I’ve heard people say that the Obama Administration bears a striking resemblance to the Carter years. It’s true . . . we’ve seen a crummy economy, Middle East allies overthrown, spiking gas prices and of late even a new American hostage situation. But even Carter had the good sense not to stand in the way of the Alaskan pipeline.