The under ground, and thieves are already hard at work stealing fuel, and/or selling it before it gets to it's destination.
Happened in the 70's. Happening now in CA, WY and probably here as well.
..And yeah, I remember $75-$80/tank gas when Bush was president, and you guys weren't upset about him and his energy-company buddies raping the public then... (I've already posted the apologist dialogue that was used by the Righties to try explain away why Bush couldn't do anything about it....)
But thanks for playing. Running out of ideas again?
Could gas prices be the undoing of the Obama Administration? And really, do you care which social or economic issue bounces him out of office as long as he leaves?
The facts are troubling for American drivers and for the White House. Regular gasoline cost an average of $3.59 a gallon last week, up 30 cents a gallon since the first of the year, according to the U.S. Energy Information Agency.
Average gas prices will probably peak at about $3.80 around Memorial Day, said Chris Lafakis, an economist for Moody’s Analytics. But it’s conceivable that gasoline could cost $4 a gallon this summer. And if the Straits of Hormuz in the Persian Gulf are closed because of a war, then crude oil prices /quotes/zigman/2203138 CLJ2 +0.18% could hit $150 a barrel or more, high enough to knock the U.S. back into recession, Lafakis said.
The U.S. hasn’t been energy independent since 1952, although the U.S. is importing less energy now than it did when Obama was elected. Since 1949, energy imports have steadily increased under every president except for two: Jimmy Carter and Barack Obama.
The big reason for the decline in imports the past three years? Less demand. The recession sapped consumption, but conservation and energy efficiency are also part of the story: Our country used less energy in 2010 than it did in 2000, even though the economy was 19% larger.
Even if U.S. production could replace 100% of our imports, the price would still be determined by global supply and demand.
But those facts won’t mean anything if the economy does tank because of higher gas prices. Presidents may have little or nothing to do with such economic basics as the price of gasoline or the unemployment rate, but voters reward them in good times and punish them when things go wrong nonetheless.
Obama, of course, does bear some responsibility for the higher prices we’ve seen at the pump, just not in the way Republicans say.
Higher gas prices are due to higher global crude oil prices, which have climbed as political tensions mount over Iran’s nuclear program. Obama and his allies in Europe have imposed new sanctions against Iran that make it very difficult for it to sell its oil. Traders have pushed the price up to account for the reduced supply as well as for the possibility that military action by Iran, the U.S. or Israel could cut off all oil shipments through the Persian Gulf.
If the sanctions, the diplomatic pressure and the saber-rattling force Iran to back down, then tensions will ease, the price of oil will fall back to around $100 a barrel, and U.S. drivers and Barack Obama will breathe easy. But if the sanctions don’t work, or if Israel pre-emptively attacks Iran’s nuclear facilities, then the price could spike much higher, and voters could punish Obama at the polls as higher oil prices weaken the economy.
Despite the good news on the economy lately, the news could be much different in November.
It seems foreign policy may threaten the Obama Administration's reelection shot after all. I say "don't leave unhappy Obama Administration, just leave. Oh, and don't let the screen door hit you or the Mrs. in the ass on the way out".
So we will see how it goes.
PS...Gas and diesel prices are already well over $4 a gallon in CA and climbing rapidly. You have to wonder what it will take.
"Higher gas prices are due to higher global crude oil prices, which have climbed as political tensions mount over Iran’s nuclear program. Obama and his allies in Europe have imposed new sanctions against Iran that make it very difficult for it to sell its oil. Traders have pushed the price up to account for the reduced supply as well as for the possibility that military action by Iran, the U.S. or Israel could cut off all oil shipments through the Persian Gulf."
The American people aren't stupid... And the current howling from the Right about something that is a fact of world conditions isn't going to affect him any more than it did when there was a 400% spike during Bush's administration. As he said yesterday:
"Here's the Republican 3-Point Plan:
1) Drill
2) Drill
3) Keep Drilling...
That's not a solution...That's a bumper-sticker."
He's got the GOP right where he wants them...And the current occupants of the clown-car are mumbling silliness like, "If I'm elected, I'll bring gas prices down to $2.50/gallon..." You can't make this stuff up...
