"Posterity, you will never know how much it cost the present generation to preserve your freedom. I hope you will make good use of it. If you do not, I shall repent in heaven that ever I took half the pains to preserve it." -John Adams


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Thursday, February 23, 2012

Gasoline Prices Are Not Rising, the Dollar Is Falling

From Forbes.com (sent to me by a good friend)

Panic is in the air as gasoline prices move above $4.00 per gallon. Politicians and pundits are rounding up the usual suspects, looking for someone or something to blame for this latest outrage to middle class family budgets. In a rare display of bipartisanship, President Obama and Speaker of the House John Boehner are both wringing their hands over the prospect of seeing their newly extended Social Security tax cut gobbled up by rising gasoline costs.

Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0.65 to $0.75 per gallon from where they are now just to be “normal”. And, because gasoline prices are low right now, it is very likely that they are going to go up more—perhaps a lot more.

Read the rest HERE

1 comment:

  1. Another case of the facts getting in the way of someones agenda. Didn't you watch the Republican debate? Its purely Obama's fault gas prices are so high! Never mind is was a dollar higher during Bush's last year in office.
    Good read.
    Even with gold being so "high" right now, if you understand this article you must understand the need to change your fiat dollars to gold now.

    ReplyDelete