$3.00+ gas this summer thanks to China
Gas demand keeps rising in ChinaExpect $3.00 gas this summer, but don't expect gas prices to rise too far above $3.25. There simply won't be enough demand in the US to drive gasoline prices any higher according to an AP report.
Ironically, there isn't enough demand in America to justify current gasoline prices either; however, demand in China keeps growing, counterbalancing US weakness in the energy markets.
So, if gas is going to hit $3.00 while the world struggles through a tough recession, what happens during the economic recovery? Can the US recover if a recovery also means $4.00 or $5.00 gasoline?
Labels: Foreign Oil Dependency, gas prices
posted by Dahcredyns at
9:43 AM
3 Comments:
Indigo Incarnates
The price of gasoline could get to $10/gallon+ once Obama finishes deficit-spending our country into Third World status.
This post has been removed by the author.
Sorry..... but the argument that Obama is the cause of our uncontrollable deficits simply doesn't hold water...
I'm not a big fan of everything Obama is doing, but he is definitely taking more action to control spending than Reagan or both Bushes combined.
1. Obama pushed to re-enact "pay as you go" which when active under Clinton, led to a balance budget. It was removed when Bush came into office. The bill to re-enact "pay as you go" was blocked by a Republican Fillibuster.
2. Obama has set the requirement that any programs, including his health care plan, must be funded.
I find it intriguing that Republicans speak so loudly about about deficit reduction, but in reality Republicans don't "walk the walk".
Statistics reveal the last 3 Republican Presidents all had much higher deficits than the last 3 Democratic Presidents, with Ronald Reagan having the highest deficit of any President in history.
Obama gets the blamed for a $9 trillion dollar deficit, when in reality, $8 trillion of that deficit is from:
- the Bush tax cuts (unfunded)
- the Medicare bill pass by the Republicans (unfunded)
- Miltary spending in Iraq and Afghanistan (unfunded)
Obama's only contribution to the current deficit is the stimulus package.
This is not necessarily an ensdorsement of the Democrats, it is more of an explanation of the "hypocrisy" of the Republican's stance on federal deficit.
One may not like Obama's program's, but at least they are paid for.....
Post a Comment
<< Home