Obama’s winning solution for America’s high gas prices
The question swirling around America right now is who to point the finger at for the quickly rising gas prices consumers are dealing with at the pump. The Obama Administration has chosen its usual course and announced at the end of last week that a new “task force” was looking into if Americans were being taken in by fraud at the pump.
During a brief town-hall style meeting Friday in Reno, Nev. sandwiched between campaign fundraising events on the west coast, Obama assured the public that his task force was looking into whether there were cases of fraud or manipulation with speculators and traders in the country who he claim could be “taking advantage of American consumers for their own short-term gains.”
President Obama is no stranger to quickly siding against the oil and gas industry when turmoil threatens his less-than popular position with Americans. With his 2012 campaign quickly approaching, he was quick to show the watching public that he is attempting to take action for the high gas prices, albeit in an absurd way.
I know I’m not the only one that finds it highly ridiculous that the president could even begin to rest his case for the nation’s near record-high gas prices on an investigation of possible fraud in the oil markets because of “traders and speculators,” when there are clearly other factors worldwide that are affecting the prices instead.
Three factors, just off the top of my head without actually researching it, seem to me to be much more likely culprits for our near $4 a gallon gas.
1. The crashing value of America’s dollar.
2. China and India’s demand for oil in their quickly growing and strengthening economies.
3. Concern over unrest in the Middle East and Africa.
The combination of these three clearly evident factors is enough to set the gas prices off on a fast climb. While I don’t doubt that the Big Oil companies such as Exxon, BP and the likes are making killing profits right now because of the high prices, I also don’t think they are the reason I’m putting $70-80 a week into my crossover at my local Marathon station.
At least one thing is certain, thank God for President Obama and his task force. I can now rest easy knowing that they’ll get to the bottom of this murky wrong-doing in our domestic oil markets and I can be confident these high gas prices are not a result of illegal activity.
Does that make you feel any better as you fill up today?