Tuesday, April 26, 2011

Gasoline Prices Up for 34th Day in a Row

I probably don’t have to tell you that gasoline prices have increased significantly under President Obama’s administration.

We could argue that this is, at least, in part due to the economic recovery; with unemployment going down and people once again returning to their everyday lives, of course demand is going to increase, pushing prices upwards in an already tightening market.

We could argue that, but since there is no economic recovery – at least in this part of the world – that would be stretching the truth. Government unemployment tallies may be going down, but the real figures are heading in the exact opposite direction. The U.S. is a nation in trouble.

Bypass the still struggling Europe and take a look at emerging markets, and it’s a different story, however. China, in particular, just keeps growing, eating through massive amounts of energy every day. So it makes sense that a country that size with a matching determination to be number one would affect the oil market and, therefore, gasoline prices.

But even China can’t account for the $2-plus increase Americans have seen at the pumps since Obama took office. Nor can the conflicts in the Middle East, though it shares some blame too.

Obama’s War on the Oil Industry

The Media Research Center lays out the biggest contributing factors clearly and plainly: Obama's many regulatory actions taken against the oil industry.

“First there was the drilling ban, which was later overturned by federal courts as illegal. Seahawk Drilling, a Texas-based shallow-water drilling company cited that mora
torium as the cause of its bankruptcy filing saying, they "have been adversely affected by the dramatic slowdown in the issuing of shallow-water permits in the U.S. Gulf of Mexico following the Macondo well blowout."

“According to The Heritage Foundation, the Obama administration moved on to a de facto moratorium after the ban was overturned. Add to that the EPA's desire to regulate the industry's greenhouse gas emissions and new environmental regulatory hurdles for the Keystone XL pipeline, which would transport crude from Canada to the U.S. and create many American jobs.”

Since oil products power this nation, affecting the cost of every consumer product that needs to be shipped, households and businesses that need to be heated or cooled, and the general cost of production and living, consider burdensome gasoline prices this just one more reminder that Obama is either Jimmy Carter-style incompetent or intentionally wreaking havoc on this nation.

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