Thursday, February 23, 2012

What President Obama Can Do to Stop the Rise in Gasoline Prices

WSJ reports:
President Barack Obama plans to step into the political debate over rising gasoline prices on Thursday, when he kicks off the first of a series of events focused on his energy plans, senior administration officials said.

During an event at the University of Miami, Mr. Obama will discuss the steps the country can take to tackle what the White House sees as an annual cycle of spikes in gas prices, the officials said. At the same time, these officials, who briefed reporters Tuesday on the president’s plans, acknowledged that there is almost nothing the president can do in the near term to lower gas prices....

Mr. Obama’s speech Thursday will call for a diverse energy plan and lay out his efforts to boost domestic production of oil and gas.
This, of course, is nonsense. If the President truly wanted to stop the climb in gasoline prices, he should stop the financial blockade against Iran, which is limiting Iran's ability to sell oil on the open markets and, most importantly, he should end the Fed, which is printing billions of new dollars that is resulting in those billions bidding up oil and food prices---and will result in an acceleration of the price increases in the months ahead.


  1. Don't forget he could sell all the crude in the SPR and end the federal 18 cent gas tax.

  2. I can hear it now...I ( cough ) have a plan!

    (Let's stay together)

    I'm, I'm so in love with you
    Whatever you want to do
    Is alright with me
    'Cause you make me feel, so brand new
    And I want to spend my life with you

    Me sayin' since, baby, since we've been together
    Ooo, loving you forever
    Is what I need
    Let me, be the one you come running to
    I'll never be untrue
    Ooo baby

  3. It is just depressing reading the excuses for high food, oil, metal and gold/silver prices for the last 10 years. They have all risen 300-600% and the economists and journalists are coming up with all kinds of explanations. From weather to China demand. Nobody is mentioning monetary policy.

    Let's see oil from 25 to 140, then down to 35, then up to 125. Gold and Copper at same pattern.

    Are we talking weather, demand or monetary shenanigans here?

    Clearly, even the most die-hard Keynesian must admit that we are printing too much money into the hands of the Elites around the world?

  4. If we accomplish nothing else, we need to figure out a way so get average people to understand that inflation is an intentional government program and not some mysterious force of nature that "just happens". I think Ron Paul's campaign is failing in that regard. No one is going to understand business cycles unless and until they understand that inflation comes from the intentional dilution of the money supply.

  5. Another thing Obama can do: Approve and fast-track all projects like the Keystone Pipeline. Doh!

  6. Don't forget that the organization that consumes the most oil of any on the planet is the US Military. Reducing demand by the military would reduce prices.

  7. Lemme guess his plans: grow more corn, drop more bombs. Maybe after we kill everyone in the middle east we can pay whoever's left to grow corn there too. That would give us plenty of ethanol!

  8. Bob Roddis and others have said the same thing.
    Business cycle or the boom-bust cycle, which is what it really is under the FR.

    Paul also needs to bang on the fascist as in crony capitalism economy that we now have, not just that Italy and Germany in WW2. I think he has wanted to stay away from the term due to people flipping out and calling him extreme, but if the shoe fits, Cinderella, suck it up and run with it. Who knows, maybe he will pull off an upset.
    FTM who would have thought that criticism of the FR would climb out of the fevered swamps of the tin foil hat conspiracy/John Birch Society loonies into the mainstream. IOW sometimes you got to push some buttons.

    Same for 10 cent gasoline. What a campaign slogan, aside from copping a few others, like "real hope and change".
    The American dollar has depreciated that much due to rampant inflation/money printing out of thin air by the Fed Reserve.
    While Paul has said the latter, he only connected the dots in the first debate In Iowa with uh, Michelle um what's her name.