Thanks For ‘Necessarily Skyrocketing’ Gasoline Prices, Obama: Gas Prices Expected To Rise ANOTHER 60 Cents A Gallon By May

I recently preserved for the record (in an age when media articles that reveal liberalism for the failure and fraud that it is tend to “vanish”) stories that documented that Obama’s regime gave birth to THE MOST EXPENSIVE YEAR FOR GASOLINE IN AMERICAN HISTORY.

And all you have to do is go to the main page of my site and click on “oil” and see THAT CONSERVATIVES HAVE BEEN TELLING YOU THIS WOULD HAPPEN ALL ALONG.  As I have predicted over and over again.

And you aint seen nothing yet from the failure of the Failure in Chief:

Gas prices to spike 60 cents or more by May
By Gary Strauss, USA TODAY

Get ready for another round of pain at the pump: $4 (or higher) gasoline.

After rising 19 cents a gallon in the past four weeks, regular unleaded gasoline now averages $3.48 a gallon, vs. $3.12 a year ago and $2.67 in February 2010.

Prices could spike another 60 cents or more by May. “I think it’s going to be a chaotic spring, with huge price increases in some places,” says Tom Kloza of the Oil Price Information Service. Kloza expects average prices to peak at $4.05, although he and other industry trackers say prices could be sharply higher in some markets.

Rising prices are an annual spring ritual, largely because of seasonal demand.

Refiners also switch from winter formulations to more expensive seasonal formulations to meet stringent environmental standards, which can tack on 15 cents a gallon, says Brian Milne of energy tracker Televent DTN.

This year’s earlier-than-usual run-up is more about anticipation than current supply and demand. Last week, the Energy Department reported anemic U.S. consumption — the lowest levels since September 2001. Domestic crude oil prices, now about $98 a barrel, are near six-week lows.

Renewed tensions in the Middle East are bolstering crude prices, while speculators are boosting futures contracts, betting on global supply disruptions and tighter refining capacity. Kloza notes that several U.S. and overseas refiners have experienced temporary or permanent closures.

So far, $4 a gallon has proven to be the upper limit consumers will pay. Last April, national prices peaked at about $3.98 a gallon. In 2008, a sharp run-up ended when prices hit an all-time average of $4.11 a gallon that summer.

“Higher demand, Iran, lost refining capacity are all potential problems,” Milne says. “We’ll get over $4 a gallon, but it’s going to be tough to sustain that level. People will drive less.”

Energy analyst Patrick DeHaan of price tracker Gasbuddy.com expects prices to rise to about $3.55 a gallon by the end of February and peak around $4 by Memorial Day weekend.

“You could see prices in Chicago, Los Angeles, New York, Washington and other major metropolitan areas at $4.60 or higher,” DeHaan says.

Lisa Margonelli, author of Oil on the Brain: Petroleum’s Long, Strange Trip to Your Tank, says consumers will be vulnerable to rising prices until the U.S. develops alternative fuels such as natural gas.

I pointed out in the article I already referenced that these sky-high gasoline prices are no accident or coincidence.  You voted for them when you voted for Obama:

You remember that quip Obama gave us that under his policies, energy prices “would necessarily skyrocket“?

Remember that Obama appointed an energy secretary named Steven Chu who said, “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe”??? With gasoline prices in Europe consistently hovering between $7 and $10 a gallon??? Steven Chu said that in explaining the Obama policy of “progressively” making gasoline more and more expensive in order to force Americans to turn to alternative energy sources. And one of the ways Obama wants to accomplish that dream (which amounts to a nightmare for working Americans) is to tax Americans for driving by the mile.

Barry Hussein can file 2011′s gasoline prices under the category “mission accomplished.” But, of course, he’s really only just getting started.

Go back to something I wrote back in August of 2008 – Iran And The Bomb: What Are We Going To Do? – and ask yourself the same questions I asked back then.  And remember that one of those questions involved what would America do if gasoline cost $12 a gallon in the wake of an Iranian nuclear bomb.

What’s that going to do to our economy?  What’s that going to do to you and your family?

You’d better have an answer to those questions.  Because you stupidly and wickedly voted for a fool who will bring that reality to pass.

 
 

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4 Responses to “Thanks For ‘Necessarily Skyrocketing’ Gasoline Prices, Obama: Gas Prices Expected To Rise ANOTHER 60 Cents A Gallon By May”

  1. Free Market Capitalist Says:

    Gasoline prices very well could be 60 cents or more higher this Spring. I have been involved in trading stocks and futures (mainly futures in the past 6 years) and preferr to trade oil futures (CL). I must say that when these “experts” try to predict oil or gasoline prices in the future, they are almost always wrong. I don’t know how many times I have seen this, just like the USA Today article. Anyway, like the article states, seasonality usually does set in during the spring, but there are so many factors today that are influencing the price of oil and its derivative gasoline. They could be right this time, but I am having a hard time remembering the last time they were.

    Yes, I agree that Obama is partly to blame for the simple fact that he has made it very difficult for oil companies to bring more domestic oil online, while preferring green alternatives. Most people don’t understand this, but the main culprit behind rising commodity prices is the Federal Reserve and their bond buying programs and money printing schemes. Easy money from the Fed is like crack cocaine for the equity and oil markets and has been elevating them since these market bottomed in the spring of 09′. Obama is partly to blame here too because alot of this bond buying and monetization is to finance his Keynesian deficit spending schemes.

    I almost hope that gas prices are 4.00 and beyond come election time to give more power to the Republican nominee. Hope food prices sky rocket, too, for the same reason. Also, I am liking the friction developing between the Catholic church and Obama. I am not Catholic but millions of Americans are. I will undergo as much pain as possible in the next several months just to get this regime out!

  2. Michael Eden Says:

    Free Market Capitalist,

    I’ll comment on your middle paragraph in particular:

    The reason the Federal Reserve money-printing thingy is a primary culprit for rising gas prices is because gasoline is a commodity. You can think of another commodity: gold. If you print more money, the value of gold actually stays basically the same; but its price in the dollars you are printing goes up to show the decreased value of each dollar as you arbitrarily add more dollars to the supply (supply and demand).

    Where I would pick a bone is that OBAMA’S POLICIES FORCED THE FED TO DO WHAT THEY DID.

    Take that stimulus: it was $862 billion officially. But the CBO said it was actually cost America $3.27 TRILLION.

    Where were we supposed to get that money? For a boondoggle socialist program that was guaranteed to fail???

    Obama has been behind a campaign to massively grow the size of government.

    You can’t absolve Obama for what the Federal Reserve has done. And I know you well enough to know that you wouldn’t be inclined to even try (that and your final sentence in that middle paragraph underscores you know this).

    I’m with you on hoping things tank before November.

    America can’t survive another Obama term. America can’t pile on the debt that such a presidency would entail; we simply will collapse. It’s a choice between hoping things get bad so we can get the turd who caused it out of office or hoping we have an economic implosion that will make the Great Depression look like a walk on the beach: and I choose the former, too.

  3. Free Market Capitalist Says:

    Michael,

    I certainly wasn’t trying to absolve Obama of any blame regarding gasoline prices or the economy in general. As we both agree, his stimulus programs have forced the Fed’s hand. However, I don’t think it really would have mattered who took over office after the collapse of 08′, in regards to commodity prices. Granted, a conservative would probably not have ran up the debt and tried to grow the size of government, but the Fed would still have tried to step in and support the banking system and with its network of primarily dealers, the equity and commodity markets. Every time the Fed forces interest rates – in this case near zero -, it results in rising asset prices (bubbles). Like I said, this is crack for the equity and oil markets.

    The Federal Reserve and the U.S. government are accomplices in confiscating weath from American citizens. You can certainly blame Obama, which you and I both have, but once he is out of office, the Federal Reserve will still exist. To really get this country back on track, we need to end the Fed and its manipulation of the money supply and interest rates – that’s if we get Obama out and survive his insane policies. If interest rates were allowed to float without any intervention from the Fed, the government would not be borrowing the amount of money that it currently is.

  4. Michael Eden Says:

    Free Market Capitalist,

    Just to make it absolutely official, I had no intention of criticizing you – and made note of our agreement. I was merely providing clarification of what we both believe.

    You’re right. The Federal Reserve system – which was enacted under the lie that we would NEVER have another depression – has been an illegitimate source of manipulation that the American people have no power or control over.

    Our founding fathers warned us in crystal clear terms that a federal reserve system was blatantly not what they wanted to ever see.

    “If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” -Thomas Jefferson, The Debate Over The Recharter Of The Bank Bill, (1809).

    “I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.” — Thomas Jefferson

    “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.” — James Madison

    “The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the southern army in front of me and the financial institutions, in the rear. Of the two, the one in the rear is the greatest enemy….. I see in the future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of the war.” – Abraham Lincoln

    See also here for a very interesting collection of quotes.

    But the same “I wouldn’t use U.S. Constitution” liberals who despise the Constitution today despised it when progressive Democrat Woodrow Wilson was acting the role of Tyrant in Chief.

    I believe it comes down to this question at this time: do we want a president who will at least be at odds with the Federal Reserve or do we want a president who has already demonstrated that he is all in favor of continuing the trend to destroy America???

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