Joe Weisenthal
In just a matter of a few days, gasoline prices have become a major worry for people pondering what might drag down the U.S. economy.
The essence of the problem is this chart, posted by CFR’s Blake Clayton (via Brad Plumer):
 |
Given where we are in the year, prices are unusually high. And if trends hold, then the national average will be well over the $4 freakout point sometime this summer.
But whenever the discussion turns to gas and oil, logic tends to die, and people start coming up with all kinds of bizarre explanations for what’s going on — explanations such as the Bernanke’s money printing, Obama’s domestic energy policy, Obama’s foreign policy, speculators, price gougers, and so on.
So we thought it would be a good time to just clear up some misconceptions, and explain what’s really driving the price.
Of course, you can’t start a discussion about gasoline without talking about oil. So let’s begin there.
Nice find.
Lol Wood… He posted this at like 4am and I was still awake. I read it and was really, really impressed. I tweeted him a thumbs up… Nice post 🙂
oh,so the u.s. exporting oil the first time in…..oh……30 years. because iran told the u.k. and france go fuck yourself months before their stupid fucking sanctions. no one and i mean NO ONE will tell you that the american,(ha ha) consumer is gettin thrown under the bus because we are picking up the slack for the uk and france just so they can have any supply…… let alone if we didnt have to send those dicktards anything that we could be paying less than 1.50 a fucking gallon. come on,lets open our eyes for the real reasons why gas is so fucking high.
ASIA there demand is up, they want cars too.