Thursday, December 30, 2010

$5 Gas Predicted Under Obama

-- What, No Pitchforks?

by Larry Elder - December 30th, 2010 - Creator's Syndicate (

Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely. The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. [and already more than $1 higher than when Obama took office] In one month, the price rose 13 cents, up 35 cents year to year.

Where are the calls to sic Obama's Justice Department on Big Oil to hold the oil companies accountable for "market manipulation"? Why aren't we hunting down the amoral "oil speculators" responsible for repealing the law of supply-and-demand in order to line their pockets?

This article mocks the hypocrisy of the MSM for their double standard about gas prices. When a Republican is President, high prices are assumed to be collusion by the President with "big oil." When a Democrat is President, high prices are beyond his control.

What is truly annoying about this hypocrisy is that Obama has taken numerous actions that are driving up the price of oil. He actually is responsible for the higher prices. Yet he does not get blamed for these actions. The American consumer (and our economy too) will be damaged by the shortage of oil that is coming. Yet Obama has blocked all attempts to increase our supply of oil. Obama shut down drilling in the Gulf of Mexico, even though foreign suppliers continue to drill only a couple of miles outside our territorial waters. The ban on drilling does not protect our environment. It merely increase the amount of money we export to our enemies.

This insanity continues. As does the dream of "green energy."

We will shortly have huge fields of wind turbines in numerous areas of our country, actually producing (as they always do) 25% of the energy they are predicted to produce. Sine they need subsidies to forecast energy production at competitive prices based on the day dreams of what they will produce, actual costs per unit of energy are nearly 8 times higher than oil so they still lose money. No more ignorant use of tax payer money has ever been proposed, save perhaps the bridge to nowhere.


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