Gas Prices Jump to $3.91 a Gallon, Heading to $4.00

Not mad yet? Don't worry. We will see $5.00/gallon of gas by summer. Americans are stupid creatures. They are unable to see the obvious. Unfortunately, the American people need to be told by the media that the high gas prices are really high. We need to do our duty and call our Congressman/woman to get this fix right now. If they capitulate, tell them they will be another victim in 2012.

(ABC NEWS) The average price for a gallon of gas in the U.S. is now within a dime of $4.

Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut they're paying $4.20 or more.

With one day left in April, gas prices are up 30 cents for the month. On average, the increase has been slightly more than a penny per day. At that rate, the national average for gas would reach $4 on Sunday, May 8. In 2008, when gas hit a record of $4.11 per gallon in July, it didn't cost $4 until June 8.

Analysts predict gas prices will actually start falling toward the end of May, as refineries increase production and more gas becomes available. That remains to be seen: Many analysts failed to predict the prices drivers are paying now, caught off-guard by surging oil prices.

April's rise in gas prices is sobering news for the economy. On Friday, the government said that personal incomes rose in March, but much of the extra money went to pay for gas. Now a 20 gallon fill-up costs on average $6 more than it did on March 31, diverting money from clothing, groceries, take-out food and other spending.

The main reason gas is up is the high price of oil. It rose again Friday, boosted by a weaker dollar. The dollar hit a three-year low against six major currencies. Since oil and other commodities are priced in dollars, they become more attractive to buyers with other currencies and prices rise.

Obama solution to High Gas Price, Raise taxes to Oil Companies

Obama understand we are reliving 2008 and the high gas prices. What does he do? Obama raise the tax on big bad oil companies. This will have no effect to the price of gas. It only raises tax revenues. These oil companies will only pass on the cost to us at the gas pumps. Therefore, we are getting shafted with the bill. Whenever the government taxes on a company, those taxes are added to the price of the product they sell. Corporations don't pay taxes. That is the honest truth. The logical truth is to DRILL BABY DRILL. That will end the speculation in the oil market. Bush did that in 2008.

(Yahoo) WASHINGTON (AP) -- Amid rising gasoline prices at the pump, President Barack Obama urged congressional leaders Tuesday to take steps to repeal oil industry tax breaks, reiterating a call he made in his 2012 budget proposal earlier this year. The White House conceded his plan would do nothing in the short term to lower gas prices.
Rising gas prices have become a political weight for the White House, with polls showing that as the cost rises at the pump, the president's approval ratings have slipped. Obama has increasingly sought to display action on oil, even as he acknowledges that there is no immediate answer to stem costs.

"High oil and gasoline prices are weighing on the minds and pocketbooks of every American family," Obama wrote. But he also added that "there is no silver bullet to address rising gas prices in the short term."

Obama's proposal, spelled out in his past two budget plans, would eliminate a number of tax breaks for oil companies that would generate an estimated $4 billion a year in additional revenue.

Washington State Considers Annual Flat Fee for Electric Cars

A user base tax to drive a car on public road is another way how the government is trying to siphon every penny we earn. This tax will affect every person who owns a car. It will affect every social economic class; from the poor to the very rich. The government doesn't discriminate anybody because they believes it's their money and they want it. By the way, the user base tax will not only affect electric cars, but also, eventually affect cars that run on gas and the combination of gas/electric. The government isn't stupid. They have all areas covered. The annual flat fee to drive an electric car is only the beginning.

(Yahoo) OLYMPIA, Wash. – Drivers of electric cars may have left the gas pump behind, but there's one expense they may not be able to shake: paying to maintain the roads.

After years of urging residents to buy fuel-efficient cars and giving them tax breaks to do it, Washington state lawmakers are considering a measure to charge them a $100 annual fee — what would be the nation's first electric car fee.

State lawmakers grappling with a $5 billion deficit are facing declining gas tax revenue, which means less money to maintain or improve roads.

"Electric vehicles put just as much wear and tear on our roads as gas vehicles," said Democratic state Sen. Mary Margaret Haugen, the bill's lead sponsor. "This simply ensures that they contribute their fair share to the upkeep of our roads."

Other states are trying to find solutions to the same problem, as cars become more fuel-efficient and, now, don't use any gas at all.

In Oregon, lawmakers are considering a bill to charge drivers of electric and plug-in hybrid vehicles based on the number of miles they drive. In Mississippi, lawmakers briefly considered a similar plan. In Texas, significant opposition scuttled an electric vehicle fee.

In Washington state, some electric car drivers and lawmakers are against the fee, saying they prefer paying based on how much they actually drive.

Of course, such use-based fees could end up costing drivers more.

More Drivers Stranded for Running Out Of Gas

It is only to get worst as summer approaches. Hopefully by then, the American people can start that revolution I only can dream about. Of course, there will be cars stranded on the highway. Drivers are no longer filling their tank at the three-quarter mark on the fuel gauge. They are filling when the indicator light of the fuel gauge goes on. Like myself, we are all guilty of that.

(CBS) PITTSBURGH (KDKA) — With gas prices pushing $4 a gallon, a lot of people are trying to stretch their dollar at the gas pump, but some of them are trying to stretch it a little too far.

Since the beginning of March, AAA has seen an 18 percent increase in the number of roadside calls for people running out of gas.

“I never put a lot in because I can’t afford to fill it up,” Leo Greek, a stranded motorist, said.

He says he’s not even sure how much it would cost to fill up his truck these days because he hasn’t done it for a while. He gets only what he needs and today he underestimated.

“It’s frustrating,” Greek said. “I can’t believe it has to be that expensive, but I know everybody’s going through it.”

According to AAA, gas prices in the Pittsburgh area have gone up 26 cents per gallon in the last month.

“Before it was more absentminded than anything else,” Jim Krebs with Brighton Service said. “But now, I believe that’s what it is. I believe people are like, ‘Man, I got to buy something else so I’m not going to put gas in the car. I should be able to make it,’ and they don’t.”

Nearly Half of US Households Pay No Income Taxes

Yahoo.com reported from Associated Press claiming that the super rich saw their federal taxes drop dramatically. The article is trying to support Obama's new tax increase for the rich saying that they don't pay enough. While the article states that more than half of the nation's tax revenue came from the top 10 percent of earners in 2007 and more than 44 percent came from the top 5 percent, it misses one more important thing. The taxes collected doesn't belong to the government, but to us, who worked hard to earn it. If Obama thinks the tax code favor for the middle class and the rich since 50% of Americans don't pay in federal income tax, then why not be fair and tax everybody. This is a class warfare tactic coming from the Democrat playbook.

Honestly, no American can say they don't pay enough in taxes. Yes, there are a lot of tax break from everybody. In fact, the people who don't pay in federal income tax get a tax credit or a tax refund. That is the intent of the government; to make us dependent on them. Since these tax breaks help create jobs and promote consumer spending, which stimulates the economy, the cause in the drop of revenues for the past 2 years was due to the recession and the downturn of the markets. That is why the federal government isn't raising enough revenues to satisfy their appetite. Instead, the government should cut spending and stimulate the economy. By increasing a job created by government, it will take away one job from the private sector and lessen the revenue the government can take in form of taxes. Therefore, the government responsibility is not to create jobs.

Liberals shouldn't punish success and make the rich look selfish. Class envy is not an attribute that Americans should follow.

(YAHOO) WASHINGTON – As millions of procrastinators scramble to meet Monday's tax filing deadline, ponder this: The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.

The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.

Over the same period, the average federal income tax rate for all taxpayers declined to 9.3 percent from 9.9 percent.

The top income tax rate is 35 percent, so how can people who make so much pay so little in taxes? The nation's tax laws are packed with breaks for people at every income level. There are breaks for having children, paying a mortgage, going to college, and even for paying other taxes. Plus, the top rate on capital gains is only 15 percent.

There are so many breaks that 45 percent of U.S. households will pay no federal income tax for 2010, according to estimates by the Tax Policy Center, a Washington think tank.

President Barack Obama said last week he wants to do away with tax breaks to lower the rates and to reduce government borrowing. Obama's proposal would result in $1 trillion in tax increases over the next 12 years. Neither proposal included many details, putting off hard choices about which tax breaks to eliminate.

More than half of the nation's tax revenue came from the top 10 percent of earners in 2007. More than 44 percent came from the top 5 percent. Still, the wealthy have access to much more lucrative tax breaks than people with lower incomes.

Shoenberg, who now teaches a business class at Columbia University, said his income is usually "north of half a million a year." But 2009 was a bad year for investments, so his income dropped to a little over $200,000. His federal income tax bill was a little more than $2,000.

"I simply point out to people, `Do you think this is reasonable, that somebody in my circumstances should only be paying 1 percent of their income in tax?'" Schoenberg said.

Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee, said he has a solution for rich people who want to pay more in taxes: Write a check to the IRS. There's nothing stopping you.

The share of people paying no federal income tax has dropped slightly the past two years. It was 47 percent for 2009. The main difference for 2010 was the expiration of a tax break that exempted the first $2,400 of unemployment benefits from taxation, Williams said.

In 2009, nearly 35 million taxpayers got a tax break for paying interest on their home mortgages, and nearly 36 million taxpayers took the $1,000-per-child tax credit. About 41 million households reduced their federal income taxes by deducting state and local income and sales taxes from their taxable income.

About 36 million families cut their taxes by nearly $35 billion by deducting charitable donations, and 28 million taxpayers saved a total of $24 billion because their income from Social Security and railroad pensions was untaxed.

Gasoline averaging $4 a gallon in 5 states

Now the revolution can begin. The $4.00/gallon gas price surpassed our threshold. At this point, the American people won't take any more of it.

(AP) NEW YORK-- The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.

For American drivers, the $4 mark is a grim reminder of tougher times. The last time gas prices were that high was in the summer of 2008, just before the economy went into a tailspin. Retail surveys suggest motorists are reacting to higher prices now by buying less fuel, yet the government expects pump prices to keep climbing this summer.

The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. Motorists in Connecticut, Illinois, California, Hawaii and Alaska now pay more than $4 per gallon. A gallon of regular cost an average of $3.979 in New York and $3.999 in Washington.

The rapid increase at the pump follows a parallel rise in oil. Oil, which has been rising slowly since 2009, gained momentum as the Libyan rebellion effectively shut down its exports. Crude has jumped 28 percent since the uprising began in the middle of February.

Gas Prices Climbing Toward $5 Per Gallon

If a revolution doesn't start by then, America better not bitch and whine. In fact, we are reliving 2008 again. You won't hear the government complaining because the tax revenues from the gas pump is feeding their addiction to spending.

(CBS) CHICAGO– At one time, $5 per gallon gas seemed like a far-fetched idea, but that is no longer the case.

As of Monday, the average price for a gallon of regular unleaded gasoline in the Chicago area is $4.11, compared with $3.71 a month ago, and about $3.10 a gallon at this time a year ago.

Some experts say $5 per gallon gas is possible by Memorial Day-or sometime in summer. Others caution that reaching that mark is unlikely over the next six weeks. In Chicago, the prices keep rising to near-record levels–with no relief in sight.

Right now, oil markets are so skittish that records set in 2008 could fall.

National avg. gallon of gas jumps to $3.76

Am I the only one noticing the cost to pump gas? This is unfreakingbelievable! This was about the same price before we saw an uprising in 2008. Forget the damn budget. Fix the damn price of gas. Drill already!

(Reuters) NEW YORK, April 10 (Reuters) - The average price for a gallon of gasoline in the United States has moved closer to $4, jumping more than 19 cents since mid-March to a level less than 10 percent below its all-time high, a widely followed survey said on Sunday.

The Lundberg Survey said the national average price of self-serve, regular unleaded gas was $3.765 on Friday, up from $3.573 on March 18, and up 91.3 cents from $2.852 a year ago.

The national average would have been higher had refiners and retailers not resisted passing on rising crude oil prices as customers grow less willing to pay what it takes to fill their gas tanks, analyst Trilby Lundberg said in an interview.

Crude oil prices are higher amid unrest in Libya and elsewhere in the Middle East, as well as a weaker U.S. dollar, which on Friday fell to a 15-month low against the euro.

A falling dollar often lifts dollar-denominated commodities such as oil. This is because some investors use commodities as an inflation hedge, and consumers who use other currencies may view the commodities as cheap and buy more, driving up prices.

Even if crude prices do not change, Lundberg said pump prices could rise another dime per gallon as earlier increases work their way into the retail market.

The Solution for Higher Oil Prices is DRILL BABY DRILL

Since the USA import oil from Europe and export them back as gasoline and desiel, any distruption in the world oil market will affect here on America's soil. Since America is completely at full capacity at the Strategic Petrolium Reserves, the chaos in Libya shouldn't affect us, but we should be more alarmed with the other fragile oil nations in the Middle East. The higher price of oil is also contributed by China hording this commodity. China has purchased over 30 million cars, and because of the demand of oil, the price of a barrel of oil will increase. So, what is the solution? DRILL BABY DRILL!!!!

(ABC) Weekly gas prices skyrocketed, according to the Department of Energy, driven by the popular revolts spreading across the Middle East.

The U.S. weekly average price per gallon is $3.19, up 54 cents from a year ago, and slightly higher than last week's $3.14. This was the highest price posted during the month of February since 1990, when the data became available. The most expensive regions again are New England at $3.23 and California at $3.56.

Oil settled at $93.57 in New York trading, up 8.5 percent since Friday's close, the biggest one day jump in nearly three years.

UPDATE: Obama Budget Proposes Broader Unemployment Taxes

Forget what Obama said about not raising taxes over the last two year. In today's headlines, Obama wants to increase unemployment taxes. Hypocrite! It would be easier to give business more of a tax break so they can hire employees and expand their business. Therefore, there would be a larger pool of workers to fund the unemployment insurance program. It is commonsense!

(WJS) WASHINGTON—President Barack Obama's budget proposal is expected to give states a way to collect more payroll taxes from businesses, in an effort to replenish the unemployment-insurance program. The plan could cause controversy at a time when the administration is seeking to mend fences with corporate America.

The proposal would aim to restock strained state unemployment-insurance trust funds by raising the amount of wages on which companies must pay unemployment taxes to $15,000, more than double the $7,000 in place since 1983.

The plan, which would take effect in 2014, could increase payroll taxes by as much as $100 billion over a decade, according to a person involved in its construction.

To avoid hitting businesses with a tax increase during the economic recovery, the proposal would delay the new rules until 2014. The plan is expected to be included in Mr. Obama's budget proposal for fiscal 2012, to be released Monday.

Obama Claims He Lowered Taxes Over the Last Two Years. YAWN

Obama is delusional at best..................

(CNSNews.com) – President Obama’s assertion on Sunday that he “didn’t raise taxes once” is “blatantly false,” a taxpayer watchdog group says. Obama made the claim in his pre-Super Bowl interview with Fox News host Bill O’Reilly.

According to Americans for Tax Reform (ATR), President Obama has signed into law at least two dozen tax increases. In chronological order:

Feb. 4, 2009 – Obama signs federal tobacco tax hike: Just sixteen days into his presidency, Obama signed into law a 156 percent increase in the federal excise tax on tobacco – a hike of 62 cents per pack. Obama’s signature on this tax hike was a violation of his central campaign promise – a “firm pledge” that no American making less than $250,000 would see “any form of tax increase”. The median income
of smokers is just over $36,000.

March 23, 2010 – Obama signs the healthcare bill into law: Obama’s signature on the health care bill enacted two dozen new or higher taxes (at least seven of which violate his “firm pledge” on taxes), including but not limited to:

-- Individual Mandate Excise Tax
-- Employer Mandate Excise Tax
-- Small business 1099-MISC Information Reporting
-- Surtax on Investment Income
-- Excise Tax on Comprehensive Health Insurance Plans
-- Hike in Medicare Payroll Tax
-- Medicine Cabinet Tax
-- HSA Withdrawal Tax Hike
-- Flexible Spending Account Cap – aka “Special Needs Kids Tax”
-- Tax on Medical Device Manufacturers
-- "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI
-- Tax on Indoor Tanning Services
-- Elimination of tax deduction for employer-provided retirement Rx drug coverage
-- Blue Cross/Blue Shield Tax Hike
-- Excise Tax on Charitable Hospitals
-- Tax on Innovator Drug Companies
-- Tax on Health Insurers
-- Biofuel “black liquor” tax hike
-- Codification of the “economic substance doctrine”

Now let’s turn to the second part of Obama’s claim: “I lowered taxes over the last two years. I lowered taxes for the last two years.”

• President Obama’s entire claim of being a net tax-cutter rests merely upon the temporary tax relief he has signed into law. The tax increases Obama has signed into law have invariably been permanent. In fact, Obama signed into law $7 in permanent tax hikes for every $1 in permanent tax cuts

• Over 90% of the dollar value of the tax cuts Obama signed into law are only temporary

• 100% of the tax increases Obama signed into law are, however, permanent

• Permanent changes to tax law signed by Obama amount to a net tax hike of $618.7 billion

Because Obama Gave Away Too Much Tax Credit, He Wants It Back

For those loons who praised Obama in giving a tax credit to every American, this president wants it back. In 2009, Obama gave every working American an increase in take home pay of $8 per week. This is our hard earn money that the government claims as their own. Therefore, Americans can expect to pay it back this coming April. In reality, this is a tax on every American.

(AP) WASHINGTON (AP) — About 13.4 million taxpayers may be getting unexpected tax bills because they were awarded too much money under President Barack Obama's Making Work Pay tax credit, a government audit said Thursday.

The tax credit, which expires Jan. 1, was designed to increase take-home pay by about $8 a week through new tax withholding tables. The credit was capped at $400 for individuals and $800 for married couples filing jointly.

However, the credit put millions of taxpayers at risk for not having enough taxes withheld from their paychecks, resulting in a tax bill when they file their returns, said the audit by J. Russell George, the Treasury inspector general for tax administration.

"The Making Work Pay credit is a key tax credit designed to increase spending and stimulate the economy," George said. "However, many taxpayers who are accustomed to receiving refunds when they file their tax returns may have owed taxes and incurred penalties in 2009, and may yet again in 2010, because they were advanced more of the credit than they were entitled to claim."

Has Anyone Notice Gas Price is now $3.00 per gallon?

I can remember when Obama took office gas price at the pump was $1.81/gallon. Has anyone notice that gas price went up $1.00 since Obama been president for two years?

(Yahoo)The average price of a gallon of gasoline this week continued to march steadily to $3 a gallon. In some parts of the country, it's above that already.

On Friday the average price of a gallon of regular across the U.S. was almost $2.98, according to AAA, Wright Express and Oil Price Information Service. That's up 2 cents from Monday and 10 cents more than a week ago. Drivers on the West Coast pay an average $3.21 a gallon. Gas is about $3.09 a gallon in New England, $3.05 in the Mid-Atlantic states, $2.98 around the Great Lakes and $2.82 in the Southwest.

The rising price of oil has pushed up gasoline prices. Crude has climbed about 5 percent in the past 10 days, and on Tuesday it topped $90 for the first time in over two years. On Friday, benchmark oil lost 58 cents to settle at $87.79 a barrel on the New York Mercantile Exchange.

New York City Imposing a Crash Tax

Statement from the New York Fire Department (NYFD) regarding the Crash Tax

"We want to relieve pressure on the tax payer and place it on those at fault and their insurance. Right now, if you are at fault at an accident or vehicle fire, you get a free ride. And that should not be borne by the tax payer."

In order to keep the NYFD services viable, the following taxes will be levied (anticipating to start July 1, 2011):

-Vehicle Fire/Accident with injury = $490.00
-Vehicle Fire/Accident with no injury = $415.00
-Vehicle Accident only with no fire = $365.00

The idea is one of many idiotic ways to raise revenue for New York City because the Mayor Bloomberg will not fix the budget or cut spending.

Two Year Extension of the Bush Tax Cut is CRAP

Bipartisanship is not what voters want. There should not be a compromise. The GOP won, and the Democrats lost. The voters did not want bipartisanship because compromising a solution only confuses the outcome. The Democrats strategy for the economy is awful. If Democrats start having doubt in their ideology, they are contradicting a belief and that is a fatal character flaw.

The agreement is another 2 year extension on the Bush tax cuts. It has remain another game among politicians to throw the American public a carrot for future potential votes. These morons that represent us are self serving jerks. The American people want a permanent solution; not a temporary fix. Therefore, after 2 years, the American people will have to endure the same crap all over again. Of course, it will occur during another election cycle. The American people will have another chance to put their representatives on notice again. We need to get rid of these career politicians. The public is completely aware that politicians are manipulating their lives, and doing so will anger them ever more.

(Wall Street Journal) President Barack Obama reached agreement Monday with Republican leaders in Congress on a broad tax package that would extend the Bush-era income tax cuts for two years, reduce worker payroll taxes for one year and give more favorable treatment to business investments.

Mr. Obama acknowledged that the agreement marked a significant reversal for him, as he has long argued that income tax cuts for couples earning more than $250,000 should expire. If the political stalemate continued and led to a broad tax increase, Mr. Obama said, "that could cost our economy well over a million jobs.''

The deal would extend a raft of business tax breaks, including credit for spending on research. It would extend current tax rates on capital gains and dividends for two years, including for higher earners. It would also maintain protection for middle-class families from the alternative minimum tax.

As part of the deal, the White House is proposing a provision to encourage more investment in plant and equipment, by letting companies claim deductions on 100% of most kinds of investment.

Under the agreement between the White House and congressional Republicans, the estate tax rate would be set at 35% for two years and would apply only to estates over $5 million. Under current law, the estate tax has lapsed for 2010 and is set to spring next year to 55%.

White House officials will now try to persuade Democrats to back the agreement, but anger on the left suggests that Mr. Obama might need to rely heavily on Republican support to move legislation through Congress.

Republican leaders spoke highly of the agreement. In a statement, House Republican Whip Eric Cantor said, "No one gets everything they want in a deal, but our top priority is to restore certainty to the private sector so that businesses small and large can start hiring again."

Democrat Sen. Sherrod Brown says Tax Cuts Don’t Create Jobs, Unemployment Benefits Do

Democrat Senator Sherrod Brown (D-Ohio) is an idiot. He uses the Liberal ideology that unemployment benefits create jobs. There is an analogy Liberals believe that every $1.00 spent on unemployment benefit would produce $1.75 in economy activity. Unless Senator Brown can conjure a rabbit from out of a hat, the analogy is wrong, deceitful, and idiotic.

To clarify, if Bush created 1 million job, as the Senator states, people tend to forget that the average unemployment rate under Bush was 5.2%. America was fully employed. With a Republican control Majority under Clinton, the average unemployment was 5.6%. It was Republicans cutting taxes and keeping Clinton's spending down that helped the economy. Also to note, the Internet boom produce an increase tax revenue and job employment. Since Democrat enjoy using the narrative that the rich are individuals, it must be clarified that the rich are associated with small and big businesses that create jobs in this country. Over taxing the small and big businesses will kill jobs.

(RCP)"Congressman Cantor (R-VA) either failed English class or failed logic class or failed history class because these tax cuts for the rich that Bush did twice, in '01 and '03, resulted in very little economic growth. We saw only one million jobs created in the Bush years, 22 million created in the Clinton years when we reached a balanced budget with a fairer tax system," Sen. Sherrod Brown (D-Ohio) said on MSNBC.

"There is no real history illustrating that these tax cuts for the rich result in jobs. It's extending unemployment benefits that creates economic activity that creates jobs, not giving a millionaire an extra ten or twenty or $30,000 in tax cuts that they likely won't spend," Brown said.

Gas Prices Been Rising Since Obama became President

According to figures released by the Department of Energy, the average gas price nationally went up an unbelievable 25% since Obama took office in January 2009.

Reports from the Energy Information Administration, the cost of a gallon of gas surpassed the $3 mark in several parts of the country, and the national average is at $2.82. Overall, a gallon of gas is about $1 higher than the week of Jan. 26, 2009, when President Obama took office.

Just to note, on December 29th, the last report date for 2008, the national average price of unleaded gasoline was $1.642.

Ironically, the Democrats blamed Republicans for the high cost of gasoline because Democrats are successful to link Republicans to big oil companies. In fact, Democrats are responsible in preventing new sources of domestic petroleum from being developed after the recent oil spill. An example, Obama sign an executive order to block drilling in Utah as soon he became president. After the Gulf oil spill, he signed another executive order to ban off-shore drilling. Currently, Democrats control the Congress and the Presidency. Therefore, Democrats are silent of the high cost of gas because it is another tax from the American people.


As the economy falters, the Democrats continue to spend at a rapid pace. Currently, the government spent over 3 trillion dollars in 22 months. At the Fed, Chariman Ben Bernanki is monetizing the debt to temporary fix the problem, but risking higher inflation. The Fed Chairman is devaluing the dollar. It is causing the price of oil to rise, not because of demand, but because the value dollar is depreciating.

There is an indirect relationship between the falling dollar and price of oil. When the dollar is devalued the price of oil is expected to rise. With the announcement by the Saudi oil minister stating crude-oil price is expected to reach $90 per barrel and Obama ban on oil and gas exploration, it is possible for the price of gas to reach $5.00 per gallon.

Read story: Oil prices march on, New York crude at two-year high