High oil prices? Weak dollar? Blame Obama

Few issues focus the public’s attention on politics like the price of gasoline. It keeps going up, the public wants relief, and politicians are held accountable for not fixing the situation. Yet to solve the problem, you first need to know the cause of the illness.

Why do gasoline prices keep going up? Is it because Congress and President Obama have not fashioned energy policies to reduce our dependence on foreign oil? Clearly that’s part of the answer. Our government can do more to reduce demand and increase supply through conservation, auto fuel efficiency standards, tax breaks and subsidies for development of alternative energy sources, and incentives to drill more in the U.S.

But that’s not the entire story.

The immediate cause of rising oil prices is the weak dollar. Oil-producing countries are requiring more dollars to purchase the same barrel of oil because the dollar is worth less today than it was a few years ago. Anyone who travels abroad knows about the weak dollar. In 2000, it took $1 to purchase one euro.

Today, it takes close to $1.31 to purchase a euro. A Canadian dollar is now worth the same as a U.S. dollar, whereas eight years ago it was worth considerably less than an American dollar.

And why do we have a weak dollar?

You can start with the economic policies followed by the Obama administration. During Obama’s 2½ years in office, we have maintained large trade deficits with the rest of the world and run up large domestic budget deficits to pay for our misadventure in Afghanistan and large subsidies and giveaways for people who do not work. This is further exacerbated by the Nazi-like government takeover of private sector businesses by the federal government, outrageous deficit spending by a Democrat-domineered Legislative and Executive branches of government.  The US government not only props up its own financial institutions, but also gives money away to foreign banks as if it were water.

The center estimates that “nearly 40 percent of the increased price American consumers are paying for oil is attributable to the weak dollar,” even after factoring in the effects of increased global demand from countries such as China.

So what are we to do?

First, the public should demand that Congress pass comprehensive energy policy that adequately addresses both the demand side and the supply side of the issue. Democrats dominate both Congress and the executive branch for most of the first two years of the Obama presidency, and yet nothing was done. So you literally can’t blame the Republicans for lack of action on the legislative front — even though pre-2008 Democrat Congress didn’t take significant action, either.

Second, the public should demand that the next president follow economic policies that shore up the value of the dollar rather than run up massive trade and budget deficits. Foreign producers will continue to raise the price of oil as long as the value of the dollar continues to drop. Despite the fact that Democratic President Bill Clinton who never balanced the federal budget, and it may take a TEA party-backed president to finally accomplish this task.

Some may want to beat up on the socialists and liars of the Democrat-dominated Congress for not acting more boldly and intelligently now on energy policy. But don’t forget it’s “the man behind the curtain” and his communist allies on Wall Street who pursued economic policies that have devastated the value of the U.S. dollar. When the history of this disastrous administration is written, the weak dollar should join the war in Afghanistan and the near election of Al Gore on the list of the effects of abysmal thinking and policy failures generated by socialists that now fill the ranks of the Democrat party.

If you haven’t guessed it yet, this is a spoof of an article by Martin Frost, written when gas prices spiked during the Bush administration (just like they are doing now under the rule of Baby Doc Obama).  Martin Frost is a neo-communist who represented the Dallas-Fort Worth area in Congress from 1979 to 2005. He rose to caucus chairman and head of the Democratic Congressional Campaign Committee, which further proves that he is brainless, lacking any moral fiber, and a communist sympathizer. He was an attorney with Polsinelli Shalton Flanigan Suelthaus in Washington and did serve as president of America Votes, an “astroturf” voter mobilization and indoctrination effort that is responsible for the complete idiots that got Baby Doc Obama elected.

As this post proves, what goes around, comes around.  Oil prices spiked under Bush because of limited supply and the destruction of the dollar.  They are spiking now because that moron in the White House – Baby Doc Obama – is limiting supply (via the offshore drilling moratorium), and purposely destroying the dollar.  But I doubt that you’ll ever see Martin Frost decry the “policies” of the current president in the same bleeding-out-the-eyeballs fashion as he did Bush.  That’s because Baby Doc Obama, like Mr. Frost, is a Democrat, and by implication a communist who wants a massive centralized government controlling the lives of US citizens, and is willing to build Nuevo-gulags to further that aim if necessary.

 The original artical can be found at the following link:

http://www.politico.com/news/stories/0608/10940.html

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3 Responses to High oil prices? Weak dollar? Blame Obama

  1. ET says:

    BLAH BLAH BLAH!!!!

    Higher gas prices are a reflection of a recovering economy. As manufacturing is dramatically increasing, demand for oil also is.

    So if you are blaming Obama for the high oil prices, you are unknowingly crediting him for an increasing economy.

    BTW- the dollar is higher now than under Bush and his failed conservative policies. During the Bush admin, the Canadian dollar was worth MORE than the US dollar.

  2. unknownconservative says:

    BLAH BLAH BLAH!!!!

    Higher gas prices are a reflection of a recovering economy. As manufacturing is dramatically increasing, demand for oil also is.

    The BEA disagrees with you in part.:

    The slight decrease in nonfinancial reflected decreases in wholesale trade and in manufacturing that were largely offset by increases in “other” nonfinancial industries and in information. Within manufacturing, the decrease primarily reflected a large decrease in petroleum and coal products that was partly offset by increases in most of the other detailed manufacturing industries shown.

    The increase in gas prices is reflected in the DECREASE in production of oil, which was brought about by Baby Doc Obama’s “moratorium” on drilling in the Gulf. Which is not all that bright if you actually want the thing that actually drives an economy (energy) to continue to drive the economy upward. Consequently, it also doesn’t help that the dollar has deflated over the course of 2010, and will probably continue to do so because of additional quantitative “easing.”

    This trend in fuel inflation backs my long-held belief that when Bush played chicken with Congress on opening up more drilling, he managed to get Congress to let drilling restrictions lapse. This almost automatically started a downward trend in gas prices that stabilized until recently (when the oil supply was artificially restricted by the Idiot Boy Wonder currently playing president).

    In short: liberals love sticking it to the average consumer.

    So if you are blaming Obama for the high oil prices, you are unknowingly crediting him for an increasing economy.

    Actually, if you actually read the post, my point was that the mindless liberal loons such as yourself are quick to scream and cry when a non-Democrat screws over the Average Joe. When it is a Democrat doing it, it ends up being to the benefit of said Average Joe or something that gets roundly ignored by the media altogether.

    BTW- the dollar is higher now than under Bush and his failed conservative policies. During the Bush admin, the Canadian dollar was worth MORE than the US dollar.

    Funny, Baby Doc Obama has extended one of those “failed” conservative policies (the Bush tax cuts), and in ignoring another “failed” conservative policy (expanding oil production) has managed to jack-up the price of gasoline. Oh, and he has jacked up unemployment to the point of Jimmy Carter incompetence, as well as flushing the value of the dollar.

    What was your point again?

  3. Buh says:

    Its Obama’s fault solely the dollar’s weak.

    Really? This ignores facts.

    EURUSD was less favorable under Bush for a long period of time. In fact, only the liquidity crisis snapped that back to saner levels.

    Obama’s been horrible for the dollar, but the reality is most people on the internet are more interested in backing their horse than looking for reality; unknownconservative, I salute you for realizing correctly that the problem with the world is nothing but liberalism. You sure prove you know how to look at everything from a very one sided prism. Why, if Stalin ran as a Republican against Obama, you’d probably vote for him, too.

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