Why Gas is $4.00 in 5 states and going higher ?

Pin It

Drivers in Washington DC and five other states are now paying $4 a gallon gas at the pump. New York is next to join. The national average for gas is $3.83 per gallon with Hawaii leading the prices at $4.47

I did not expected $4 gas prices under President Obama when democrats elected him in 2008. He was the one who campaigned against $4.00 gas during 2008. I thought he was much smarter than that. I wonder if ” Super Smart” Obama realizes that high gas prices will kill this economy and the confidence like they did in 2008 and that will tank his re-election bid for which he wants people to sign up now… Can he still blame this on George Bush ?

So how did all of this happened ? The oil prices were rising as measured by light sweet crude traded on NYSE. In mid February the rebellion and civil war in Libya gave them a new shot and speculators started bidding them up. The crude jumped 30% and gas prices gaining 22% on the news itself.

Remember oil companies bid these light sweet crude futures and buy gasoline or impact these movements up and down. When President Obama joined the fray and joined the Libyan civil war the prices went through the roof and started registering at the pump. Its solely the Oil companies that decide what to charge at the pump and not the pump owners.

For most of us this is a hurt directly in the pocketbooks. The amazing thing is nobody lifts a finger to change this equation.The misery at the pump is not about to end anytime soon, its just the start of the peak driving season in Summer and thats what we are gearing up with roaring prices that can lead us to $5.00 per gallon gas in next few weeks.

The war in Libya is a pretext to speculate higher prices and justify $4.00 gas per gallon. The amazing fact is United States does not imports much gas from Libya and just under 65,000 BPD which is a fraction of what the US produces 9 million barrels per day. With wars news in the background and a free enterprise the Oil companies are at it again but under a different President who was elected by the Democrats and not the Republicans and the Oil lobby.
Where are the democrats that screamed it was George Bush’s fault when gas prices rose to these levels in 2008 ? How come they don’t blame President Obama as well ? Or are they simply hypocrites ?

Leave a Reply

*