Sunday, June 05, 2011

Obama-cize the USD, Pay More for Gas

Well, somebody ran the numbers.

The Obama administration’s monetary policies have added approximately 56.5 cents to the price of every gallon of gas you pump, according to a new congressional Joint Economic Committee report.

Estimates suggest that had the dollar maintained the value it had when Obama came into office, gasoline would cost approximately $3.40 per gallon instead of around $4 per gallon in many parts of the country.

The other 60 cents goes to turmoil, some limited speculation, and Obama's shut-down of US exploration and drilling. The Arabs can spell oligopoly, too.

By the way, it's interesting that the report came from the Joint Econ Committee--meaning that the (D) Senate allowed its release. Straws in the wind?

HT: Gateway

1 comment:

Anonymous said...

Even the demo"rats" can recognize the second coming of Jimmy Carter and will not willingly step in a bucket of, of, of err, "shaving cream"

Really, this video says it all: