Gas prices are getting higher than your favorite rapper these days.
Once again, the soaring gas prices around the country will be a hot button issue as we enter the 2012 Presidential election.
STORY: Lock ‘Em Up! Criminal Charges Set For BP Oil Spill
In some areas of New York City alone gas prices have reached nearly $4.50 a gallon, while prices in California have already reached $5 a gallon.
Now, analysts and experts alike predict that by Memorial Day weekend peddle to the metal New Yorkers can expect the same gas hikes.
Gas has risen 25 cents a gallon since January and yesterday, the Obama administration opened 1.5 million acres of the Gulf of Mexico for drilling.
For all the positive Obama has accomplished in his first term as President, his Achilles Heel may be the roller coaster cost of gas prices. Obama’s got problems if he can’t find a foreseeable way to bring the cost of gas down.
Weren’t we fighting a war in Iraq for ten years for the oil? Sure, on the surface it was presented as a mission to remove a ruthless dictator and free the Iraqi people, but wasn’t it also about gaining some control of the oil?
For crying out loud the war began under the codename “Operation Iraqi Liberation” (OIL). So where is it?
According to the Brookings Institution’s Iraq Index, about $1 trillion of US taxpayers’ funds were spent or approved for Iraq through 2011, over 4,000 U.S. troop casualties, over 32,000 troops wounded and no oil, what up with that?
I may have to start supporting Republican presidential candidate Newt Gingrich as he proposes that under his Presidency, gas would go as low as $2 a gallon. Now that’s something I can get behind.
But seriously, what Newt and many others don’t understand is that world leaders have limited, if any, power to affect prices of a global commodity like oil.
The fact of the matter is, oil costs depend largely on supply and demand, so as the economy improves, demand could rise, putting extra pressure on oil prices.
So $2 bucks a gallon sounds heavenly but it’s more or less not likely, which is why Obama opened 1.5 million acres of the Gulf of Mexico for drilling and refused a Canada-to-Texas oil pipeline.
Cross country pipelines, off coast drilling and $2 gallons of gas proposals make it clear that everybody agrees, Republicans and Democrats alike, that the price of gas is higher than Wiz Khalifa – and that’s pretty damn high!
