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Thursday, January 22, 2009

Did You Notice Sharp Spike in Gas Prices?

Over the past few weeks gasoline prices have inched back upward after experiencing the steepest decline in American history.

But have you noticed that this week alone prices at the pump have increased dramatically?

Here in the Carolinas we are paying roughly 10 cents a gallon more today than we were on Sunday.

Have you cared to ask why?

The reason is very simple and not far to find. Barack Obama and a Democrat-controlled Congress.

Harry Reid and Nancy Pelosi have made it clear, now that the 2008 election is over, that they have every intention of imposing more bans on oil drilling here at home. In fact, they have already taken steps to pass a bill that will insure no new tapping of energy sources in Wyoming.

Barack Obama's new Secretary of the Interior has further stated that he will oppose any attempt to increase domestic oil drilling anywhere on our own soil or on the outer continental shelf of our coastline.

The sharp spike in gasoline prices we have witnessed of late, in spite of the fact that on the market oil dipped below $30 a barrel, is directly connected to the energy policy of a Democratic Congress and an anti-oil drilling President.

Even CBS News admits it was wrong in failing to report that positive talk during Campaign '08 concerning 'drill here, drill now' led to a dramatic drop in gas prices.

Now that such talk is no longer being heard, in spite of the fact that overwhelming majorities of Americans want us to develop our own energy resources that include oil and natural gas, prices are headed back up.

And with higher federal taxes the Democrats want to slap on gasoline, get set my friends. Once again, we are going to be paying through the nose to drive to work.

Read the complete story here.

2 comments:

Anonymous said...

That's simply not how retail prices work. Were new domestic crude production to be okayed today, it would be 3-5 years minimum before a single drop would be dispensed at a gas station. Correlation is not causation.

Welshman said...

Wrong.

Prices are set by oil FUTURES, and not by how much is being produced today.

By simply stating we were going to drill here, drill now, the futures market drove the price down. Now that Obama and the Dems have admitted they lied to the public and will blog this, prices are spiraling upward again, and it will get much, much worse...