These Guys Really DON’T GET IT, Do They?
by Mike on May.08, 2011, under Political
Everyone is (rightfully) very uptight about oil prices. The average price of gas is now at $3.95 per gallon, compared to $1.79 when President Obama took office. That means it’s increased over 100% since he took office. Do you think it may be because the President and his administration have severely restricted the issuance of oil drilling permits? Or perhaps because the President’s irresponsible spending, in conjunction with the Fed’s QE2 program, have caused our currency to be significantly devalued and thereby make oil more expensive?
Absolutely not!! It is those darn Speculators and Oil Company Gougers that the President and Attorney General Eric Holder are searching for.
This is what happens when we put an attorney from academia who has no clue about how business works in charge of the economy – he appoints other attorneys who have never run a business either and they look for the evil, greedy corporations behind every price increase rather than looking at market forces which drive commodity prices and recognizing their own actions are contributing significantly to the problem. Let’s hope we do not repeat this mistake in 2012.
