Obama = $124 a Barrel Oil

Friday, April 8, 2011

Despite the Obama administration’s failed attempt to blame record gas prices on the growth of the economies of India and China, the real reason for record high gas prices is geopolitical.

Reuters via Yahoo reports:

Oil hit a 32-month high above $124 Friday after attacks on Libyan oil fields raised the prospect of long-term supply cuts, with commodities in general rising on optimism global economic recovery will fuel demand.

Ongoing unrest in the Middle East and concerns over supply disruption push to just below $125. U.S. crude climbed $1.05 to $111.35, down slightly from an intra-day peak of $111.90, its highest since September 2008.

President Obama’s advice to the American people is stop complaining and buy a car that gets better mileage:

“If you’re complaining about the price of gas and you’re only getting 8 miles a gallon, you know, you might want to think about a trade-in.”

This entry was posted in Gas Prices, News, President Pootie Tang, U.S. Economy, Worst President Ever and tagged , , , , . Bookmark the permalink.

10 Responses to Obama = $124 a Barrel Oil

  1. Joe in Colorado says:

    I found gas yesterday for $3.93 and I filled up. We’ve reached the point with Obama where gas just a few pennies below $4 is cause for celebration. Why the hell did we go into Libya at a time when the economy was trying to pull itself of a recession? I bet Big Oil loves Obama. He’s as good for them as was Bush and Cheney.

  2. Albert Lewis says:

    Europeans have been paying more than $11/gallon for a while. Kwitherbellyachin!

  3. Woodcliffe says:

    Albert Lewis – The Brits don’t have teeth either. What’s your point?

  4. Peace Nick says:

    Involving the US in Libya’s effort to overthrow Gaddafi was the dumbest thing Obama has done yet.

    I still think Hillary Clinton set Obama up for a fall so she has an opening in either 2012 or 2016. Look at the polls. She’s in the stratosphere whereas Obama in in the toilet and sinking like a stank turd.

  5. Greg Equality Lengkong says:

    Energy/gas prices are impacting everything in the USA.

    Food prices are up, the summer travel season is just around the corner and AAA says drivers are forgoing travel. Airlines are trying to raise fares again which will effect Las Vegas, Florida, Hawaii and just about every vacation destination.

    Obama has the opposite of the Midas touch. Everything Obama touches turns to shit.

  6. Yellow Rose of Texas says:

    No doubt about it. The Kenyan needs to go!
    He’s had his chance to deliver and he’s failed all round.
    Let’s hope for the country that once the budget is
    passed, the US House opens impeachment hearings.
    I’m not sure the economy can withstand a double-dip
    recession. Enough of the Goldman Sachs boys running
    the Fed.

  7. Pechanga says:

    Yellow Rose – Harvard, Goldman Sachs and General Electric.

    It’s as if in the USA, a nation of 308 million people, unless you hail from Obama’s alma mater, or Wall Street darling Goldman Sachs, or defense contractor, General Electric, you don’t appear on the president’s radar screen.

  8. Marcus Ybanez says:

    It’s interesting no one has called for an emergency suspension of the state sales tax on each gallon of gas sold until (assuming) prices come down again.

    In January, 2011

    Total State & Fed. ¢ PG:

    1. California 47.7 cents
    2. New York 47.3 cents
    3. Hawaii 45.8 cents

    So for drivers in California, a suspension of the tax would reduce a $4 gallon of gas to $3.52, in New York to $3.52, and in Hawaii to $3.54. Not perfect but putting $500 to $750 more money in bank accounts of residents being punished by these prices.

    I expect Obama will be punished by the voters in 2012. He should be punished. His diddling in Libya started this mess and he needs to be held accountable.

  9. Abbey Peripatetic says:

    Marcus Ybanez – I think this hasn’t happened because the states are broke. Even Texas is running red ink and is considering amending the state constitution to make casino gambling legal to bring in revenue.

    States like New York and California are close to insolvency. They can’t afford to get rid of the gas tax. Even temporarily.

  10. Debbie Banuelos says:

    Right on, Marcus. If it says “Goldman Sachs,” Obama gets an erection!

    Rahm Emanuel has ties to Goldman Sachs.
    Timothy Geithner and Larry Summers worked for Goldman Sachs, as did Stephen Friedman, Anne Fudge, and Gary Gensler.
    Peter Orszag sharpened his fangs at Goldman Sachs and now says disabled Americans have no right to Social Security Disability and must be forced to work. Tell this to my developmentally disabled, older sister. Asshole.

    Nothing would make me happier than to see the Republicans impeach Obama. He’s a Wall Street tool.

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