Tuesday, January 25, 2011

Gas Hit Record High For January At $3.11. What Should We Do About It?

We all know that gas price is a major factor in our future economic recovery. It effects every aspect of our lives from food prices,plastics and just going from point A to B. This new record high for January is big news, but you wouldn't know it if you read the paper or watch the news. See demand is low right now because of this long recession in America. Obama must fix this now or we will not have a recovery. It does seem fitting that Obama stopped our domestic drilling, causing gas prices and speculating to go higher. This time it might not be a bubble like it was when it went to $4 for that short time. If Obama would open us up to more domestic drilling it would start dropping gas and oil prices down immediately. That's the good side of commodities speculating, it works both ways. Even just a strong debate among our leaders would cause speculators to bail out. It's what they do. And that debate has to start now if Obama ever has a hope of getting re-elected in 2012. Obama needs to first undo what he did with the Gulf oil embargo. Next he needs to make it up to our domestic oil producers by letting them produce more of our countries oil. It isn't doing anyone any good sitting under the ground. We also have a chance of loosing it if we don't take it, slant drilling. We all know that this wont end well for the Democratic Party if they, as Obama said..."this will necessarily make our energy prices go up".  I'd like to know what you think about the price of gas,oil and how we should fix it? The price of oil is over $100 per barrel. The worlds economy and our own is based on cheep energy. Whether you like it or not our economy is driven by the price of oil. And we have put too much of our economy in the hands of other nations to control. We need to get out of the grip of our debtor nations and OPEC.