Gasoline Prices Take Off for the Sky

Let’s not hear any complaints about gas prices from those who voted for Obama. He did promise to drive up energy prices. The Hopey Change has been delivered:

U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump, and yearly motor fuel costs will rise 28 percent from last year, the Energy Department said on Wednesday.

The average U.S. household will spend about $700 more for gasoline in 2011 than it spent last year, bringing total motor fuel expenses up 28 percent to $3,235, based on an annual pump price of $3.61 a gallon, the department’s Energy Information Administration said.

Retail gasoline prices soared by 38 cents over the last three weeks to $3.52 per gallon, according to the EIA, because of high crude oil costs due to unrest in the Middle East.

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If rising prices are due not to Obama’s suppression of domestic drilling but exclusively to instability in the Middle East (where France has had to fill the leadership vacuum), it is all the more irresponsible for Democrats to try to placate us with talk of tapping the strategic petroleum reserve. We will be needing that oil for the military if the situation in Islamoland gets even worse. Expecting to run the economy on it would be like relying on money borrowed from the communist Chinese. But both might seem to work for a short while, making them perfectly viable strategies as far as our leadership is concerned.

Higher gasoline prices will give consumers less money to spend on other goods and services, which many economists fear could slow the U.S. economy.

At least we can all agree that there is no way the higher energy prices Obama promised could help the economy.


On tips from Lee G, G. Fox, and Wyatt’s Torch. Cross-posted at Moonbattery.

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