Obama made it clear from the beginning that his goal is higher energy rates. And he's followed through by shutting down both the Keystone Pipeline and offshore drilling.
Less Supply = Higher Prices, last time I checked. AND this is worse than just less supply. Oil prices are partially based on futures and speculation.
Thus President Obama signaling to the world that we have no intention of adding to the supply gives speculators reason to raise the price. It also affords our middle east oil suppliers (who love us so much) a chance to bend us further over the barrel.
Cut to today-
According to GasBuddy.com People are paying $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, Florida.
LAUGHABLE UPDATE (2-22-12) - Obama doesn't accept responsibility for gas prices
I somewhat agree with you that it is 0bama's intent to raise energy rates, but have you researched the pipeline? TransCanada is suing farmers who do not want the pipeline on their property, claiming imminent domain. Since when can a foreign company claim to have more rights to a U.S. farmers land than the farmer himself? The GOP is being disingenuous when they call these farmers "left wing environmentalists."
ReplyDeleteAnd have you wondered at all why the pipeline must stretch from Canada to the Gulf when there are refineries near the Canadian border? It seems like the intent is to put the oil in the international market. How will that lower our gas prices?