Department of Interior Secretary Ken Salazar said that "no one knows" if gasoline prices in the United States will reach $9 per gallon, and acknowledged that the possibility is outside his control.I've noticed the media often runs to Obama's aid to tell their viewers/readers that presidents can't control gasoline prices (though apparently George W. Bush was the exception according to their own reporting), but in fact presidents "set the mood" when it comes to energy and it's that mood that affects the markets. When Bush changed the rules regarding drilling and eased the regulatory burden for obtaining permits the bottom fell out of the oil market. Investors realized that there would soon be more oil coming to market and it caused an immediate affect. Obama has done nothing but lock up oil in the Gulf, on federal lands, and coming in from Canada. The mood he sets is one of scarcity and the prices reflect that.
"I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy," Salazar told reporters when asked if gas prices could reach $9 per gallon, as they have been in Greece. "Where it will all end, no one knows.
Salazar touted President Obama's "all of the above" energy policy and the prospect of renewable energy, but warned "we do not control the price of oil."
Wednesday, April 25, 2012
Energy Quote of the Day
Doesn't this give you confidence in our leaders?
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2 comments:
Think of Barack Obama Sr. as Edmond Dantès and Barack Obama Jr. as The Count of Monte Cristo.
Just as Dantès suffered in his island prison, Obama Sr suffered under the colonization of Kenya by the West.
Any politician who got in Obama Jr's way was treated the same way The Count exposed Gérard de Villefort as an adulterer.
Wall Street plays the part of Baron Danglars who is driven to suicide by financial ruin after The Count manipulated the markets.
The Count succeeded by befriending his enemies, and making them think he was one of them.
It has to be Obama's favorite story.
Obama IS The Count of Monte Cristo.
Obama said the President could control the price of gas when BUSH!!!!1q11!!!! was Prez. I'm so glad he admits he's not as capable as the hated W.
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