Wednesday, February 9, 2011

Gas Prices Soar During Mid Winter Lows

With gas now at record high for a February in Energy Department data back to 1990, the weekly Consumer Comfort Index dropped by an unusually steep 5 points to -46 on its scale of -100 to +100. It's dropped that far only 36 times in more than 1,300 weeks of ongoing polling since late 1985; this shift erases an equally unusual 5-point gain in early January.
It's likely no coincidence that the change in sentiment follows the federal government's report yesterday that gas has jumped to an average $3.13 a gallon, up steadily from $2.74 six months ago, $2.65 a year ago and $1.89 two years ago this month. All this is coming when we are at the winter low gas prices. The President did tell us that this is by design and that "energy prices would necessarily go up" under his admin. When you are paying through the nose to fill up your tank this summer don't forget to thank an Obama voter. Did you think that banning domestic offshore oil production would serve our economy and citizens? We have seen what high oil prices did to our economy in the past. Expect it to do the same thing this time. But this time it wont be commodity traders running the price up. It's the Obama admin. With a president like Obama who needs enemies?

1 comment:

  1. This could be the reason why, Chris.

    But there are big steps being taken (as mentioned here before) to get us out of foreign oil.


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