The hypocrisy of the Obama administration and his media cohorts is simply mind boggling! Instead of being open about their destructive energy policy, they began a campaign against oil companies and speculators as a cover for the sky rocketing oil prices.
Speculators decide the price of a barrel of oil as well as the prices in many other industries such as silver, gold, and wheat. These as well as other products’ prices are calculated based on the demand versus the supply. In a similar vein, the dollar is constantly rising and falling due to the constant shifting of our economy. The hatred for oil companies and speculators for oil, however, are unparalleled. This is because gas has gone up so drastically, and the government needs a scapegoat for the people to blame.
The Obama energy policy is crashing, or better yet, never took off ground. Where are all the wind turbines and solar panels and volt cars powered by electricity (which is powered by gas) that Obama had promised? He’s against oil, coal, and nuclear, which are the three main energy sources in this country. I know Obama has said in some of his talks to the country that he supports new nuclear reactors just as in some of his speeches he claims to support coal mining and drilling for oil. All that talk is a piece of bluff. When it comes to putting those words into action, there simply is none. And when others try to build on them, he puts stumbling blocks in their path thereby revealing his true colors. He had said on the campaign trail to the San Francisco Chronicle that he wants to regulate coal mines to such a degree so that energy prices will “necessarily skyrocket”!
And who is being blamed for the current oil prices? The speculators! They create neither the demand nor the supply, so what are they guilty of? May one no longer speculate and say how much oil we have? Why should the speculators be polarized and put down for saying the truth and setting the facts straight? What happened to freedom of speech? I’m not going to name anyone as a socialist or communist, but what on earth is happening to this country?
Obama’s policy has been, “let us use every disaster to our benefit.” The accident in the gulf by BP Oil Co. led Obama to ban deep water drilling, forcing the oil companies to go elsewhere. The reason they’ve been drilling in such unbelievably deep water is because the liberals have banned them from drilling right off the shore where we have hundreds of billions of dollars’ worth of oil buried. Alaska and many other states also have tons of oil waiting to be sucked out of its grounds while Obama chants “drill baby drill”, not in the U.S. but in Brazil. If we will increase the production of American produced oil, our supply of oil will increase thereby bringing a drop in price.
Regarding the complaints against oil companies at their unjustifiably large profits, last I checked America is still a capitalist country in which one may build a business to bring in a profit. For those of you that believe that the price of oil rose so dramatically because of the oil companies who want to increase their profits, Exxon makes 28 cents per $3.00 gallon of gas, while you pay in average 48 cents per gallon in taxes. The federal government makes billions of dollars a year in tax revenue without lifting a pinky to earn that money. In fact, it only puts roadblocks and mountains in the paths of the oil companies to produce more oil. Why doesn’t anyone blame the feds for the raised gas prices?
The administration pretends to support an increased energy supply and give permits to drill in a land that doesn’t have oil wells and then has the chutzpah to blame the oil companies for the higher prices. In actuality the oil companies end up wasting a lot of their profit money in research and attempts to remove oil from land with no oil, while barred from oil-loaded fields. What a two-faced administration! After Shell shelled out nearly 4 billion to drill oil off the coast of Alaska, the EPA blocked them from drilling because of some environmental fear. That’s billion with a “B”! Why should companies invest in American oil wells when they risk so much?
So yes, oil prices are decided by speculators and oil companies do make a profit, but it’s the Obama energy policies and the EPA that are guilty without the slightest doubt.
Abie Rubin blogs at TheThinkingVoter.blogspot.com