According to the Economist, hardly a “liberal” publication, the gas prices are a reflection of both better economic news and a tightening of supply. Iran’s supply has been lowered both due to economic sanctions and a price dispute with China, there have been technical disruptions in the North Seas, problems with supply lines in South Sudan and regarding positive economic news; speculators seeing that the Euro crisis is being “contained” at least from the bankers perspective and that China isn’t experiencing a hard landing from its previous economic growth and the American recovery is strengthening bit by bit, the Economist argues that you would be hard pressed to lay the gas prices on President Obama’s lap. Unfortunately President Obama can shout this from the rooftops and the right will drown him out with ridiculous accusations of denying oil companies from drilling everywhere and plotting to raise gas prices because he is a “socialist”. It frightens me that that in order to be informed and educated you have to read independently go through hoops and that you can’t trust the “news” to get your information, what purpose do they serve now?
Read the Article at HuffingtonPost