Please tell me it's a "blue ribbon" committee. So let me get this straight. Obama is on record saying he wants gas prices high. And now that he's in election mode and he might actually be the one blamed for those prices, now he claims he wants to try and address it? And there's someone out there who actually believes this?
BTW I find it hilarious that people who complain about drilling or building nuclear facilities because they will take so long to ever see any benefit will now argue that these prices mean we must invest in developing other energy sources.
The "Blue Ribbon Cmte" will have all the oil company execs show up in Washington so they can sit and listen to the BRC blast them over obscene profits. Anybody want to bet gas will be below $3 before the 2012 election??
And now that he's in election mode and he might actually be the one blamed for those prices __________________________________________________ doubtful you will hear obama and high gas prices mentioned in the same sentence by the media. you can flash back to 2008 to see a different narrative. i knew it was only a matter of time before the witch hunt was started by the dems. surprised it took this long. they must be off their game. can't wait for the congressional hearings to "investigate" the high prices.
Shouldn't they be investigating how monetizing our debt is driving inflation, thus increasing the price of gas, food, and all other essential commodities? Sure they should. Who wants to bet they never get around to blaming the administration and the fed though?
Yuma is correct that it won't be but a year or so before the oil companies are reporting huge profits. Then all of their execs will be supoena'd to testify before congress for about the 15th time that I'm aware of. Then the final conclusion will be simply that supply/demand dictate the price of oil. Sure, there is some very small percentage of price that the speculators are responsible for - by and large though, devaluation of the US$ is hugely responsible for the price hike. I've seen this too many times before.
prime example of all this pres. does...he talks out of both sides of his mouth and does not take a stand on anything that way he can blame someone else. "Anybody want to bet gas will be below $3 before the 2012 election?? " yes, because the value of the dollar is tied to it
I do not understand why the media is not reporting the truth about the high oil prices and allowing the administration to go through the dog and pony show of an investigation into price gouging. OPEC isnt increasing production because there is plenty of oil. The price of food and all commodities has gone up at about the same rate as the price of oil. OIl is alittle bit more inflated because of the middle east but not much. Why won't they report the truth. Why will they not report on the Feds money printing practices. You can read about it if you read financial news, but you cant get the information of CNN or the nightly news. If you do, it is reported as a possible cause, its not, it is the reason. I feel like we are being led down the road to ruin and nobody cares. It is really sad.
Compare oil prices to gold and you will start to see the truth. Hell, compare North Sea Brent to West Texas Intermediate. The differences there are really unusual.
