During the election, Obama admitted that Romney might be able to lower the price of gas. But the Government Class picked Obama and ordinary Americans are stuck with the tab.
Americans are paying more for gas than before, both in share of household income and in actual dollar cost.
Experts agree a variety of problems can lead to high gas prices, but the two big issues now are a lack of local supply and a weak U.S. dollar.
In order to fund deficit spending, the U.S. is printing a lot of money right now, about $85 billion a month, experts say.
“When the supply of money grows faster than the supply of oil, the ultimate result of that is that the price of oil is going to go up,” said Todd Roberson, senior lecturer at the Kelley School of Business.
Other experts said this recent spike is also due to the lack of availability of gas locally. Some of the Midwest supply has been shipped to the East Coast to help them cover for refinery closings last year.
So on the one hand, Obama is printing money like crazy. On the other hand, he’s making it difficult for energy businesses that aren’t windmills to continue functioning. Everything from pipelines to oil drilling to coal plants is being taken down by Obama Inc. which is pouring money into the companies run by its corrupt Green Energy scammer buddies while shutting down any and all forms of affordable energy competition.
And due to Obama’s reelection, there is no end in sight.
Retail gasoline, already at a record level for this time of year, hasn’t yet caught up with a steep rise in wholesale prices in 2013, the Energy Information Administration — the Energy Department’s statistical arm — said on its website late Thursday.
“Despite the significant rise in retail gasoline prices since the start of the year, a part of the even steeper rise in wholesale prices has not been fully reflected in pump prices,” the agency said in its “This Week in Petroleum” report.
And considering that the price of gasoline has a direct impact on the cost of most goods and services, Obama’s war on oil is likely to worsen his recession and raise the price that people pay for everything from a glass of milk to a package delivery.