$5 Gas Predicted Under Obama

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Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely. The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. In one month, the price rose 13 cents, up 35 cents year to year.

Where are the calls to sic Obama’s Justice Department on Big Oil to hold the oil companies accountable for “market manipulation”? Why aren’t we hunting down the amoral “oil speculators” responsible for repealing the law of supply-and-demand in order to line their pockets?

During President George W. Bush’s administration, we constantly heard demands to hold the President accountable for “Big Oil’s price gouging.” House Speaker Nancy Pelosi, D-Calif., just two years ago, knew exactly whom to blame for “skyrocketing” oil prices: “The price of oil is at the doorstep; $4-plus per gallon for oil is attributed to two oilmen in the White House and their protectors in the United States Senate.”

In 2007, when the average national price ranged from $2.17 to $3.22, then-Sen. Barack Obama demanded that the Federal Trade Commission investigate Big Oil for “price manipulation.” In 2008, presidential candidate Obama urged the Justice Department “to open an investigation into whether energy traders have been engaged in illegal activities that have helped drive up the price of oil and food.”

Obama also called for “a windfall profits penalty on oil selling at or over $80 per barrel.” As of Christmas 2010, a barrel of oil sold at slightly above $90. What happened to the windfall profits tax?

Yes, back then the average price per gallon was four bucks. But blaming “oilman” Bush for high prices began when the average price was well below today’s $3.05 national average.

The average price was $1.72 on March 5, 2003, when CBS News posted a story online with this headline: “Dems Blame Bush For High Oil Prices.” It referred to an investigative report by Sen. Carl Levin, D-Mich. Levin blamed Bush’s post-9/11 decision to increase the amount of oil in the Strategic Petroleum Reserve by 40 million barrels in 2002 — bringing the total to 600 million. Levin said, “We’re confident this had a significant impact on the price of oil in 2002.” Never mind that the Bush administration called the amount of oil diverted too small to matter.

The average price was $2.80 on April 22, 2006, when USAToday.com posted an article with the headline “Democrats blame Bush for high gas prices”: “Consumer gasoline prices continue to soar as the Bush administration places too much emphasis on drilling reserves and not enough on alternative fuels, Democrats said.” The article quoted Sen.

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  • BS77

    The Leftist Elites of the Bay Area and Boston think everyone must have a Prius or an electric car….or better yet, bicycle to work……to them "work" means sitting in front of a laptop in a coffee lounge networking with other "working" electronic gadget addicts….to them people who have dairies in Wisconsin, or who build homes in Nebraska….well, they might as well be Martians. The Green Left wants to end all oil drilling, all new power plants, all driving, all electricity use that is not wind or solar generated…they want us all to live in 500 sq foot Moscow style planned communities that are served by hybrid mass transit….so we can all take the Metro to our little cubicles in the Leftist Government Bureaucracy Utopias….real work…coal mining, oil drilling, farming, private businesses, body shops, companies manufacturing jets or ships, cutting timber,building bridges….the pouty Green Leftists look down on any real work. They figure Twitter , Starbucks and Hollywood movies will keep the economy going.

  • SanAntonio Joe

    While I don't see a leftist conspiracy behind everything as does BS77, the fact is, virtually EVERYTHING is going to go up as soon as this so-called 'recession' is over.

    Our government has borrowed to the max, and the only thing keeping the US from bankruptcy is ultra-low interest rates. Once those go up, hold onto your wallet!

    I'm an ultra-conservative, yet I drive a Camry hybrid. Why? Because I don't want the price of oil and the price of a fillup determining for me where I can go and what I can do. If I want to drive across town or across the country, I can afford to do it in a hybrid. And, after owning Cadillac Devilles and Buick Park Avenues, the Camry hybrid is a big, safe comfortable car….that gets 32-40 MPG.

    It is NOT a question of whether gas will be $5 per gallon; the left seems to want that, either through market trends or gas taxes. The only real question is WHEN it goes to $5.

  • http://mattsbecker.com Beck

    Really? You really feel as if consuming every possible natural resource we have is a viable solution for maintaining an economy?

    You really feel as if the people that go to work and "sit in front of laptops" aren't doing real work?

    You really feel like slamming the people who engineer these hybrid cars; design transit systems; design electronics systems for oil rigs, electric plants, and all of the other things that your own utopian dream going – is a way to sustain the economy?

    You really feel like technology companies won't be a driving force in America's economy of tomorrow because they find ways to improve people's lives? You think that just because some people don't go put a hard-hat on before they buckle down and work they're not doing real work?

    People like YOU, sir, are the kind of people that keep this economy in the state that it is in now, because you – and others like you – are completely incapable of looking ahead to a future where the things we do DON'T rely on consuming, but innovating. You folks, are the type of people who complain about the economy losing footing because of foreign (particularly Asian countries) competition, but you're incapable of seeing why.

    America is losing a battle of intelligence, education and innovation. Open your damned eyes and take a look around you before you spew your hate-mongering vitriol.

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  • D Smith

    Candidate Obama in a speech called for $5 a gal. gas to force people to manufacter and buy fuel efficient vehicles and promote alternative energy sources. So either he was making another smart assed remark or his idea is bearing fruit.