Obama's oily deception

Once again the nation is experiencing gas prices exceeding $4.00 per gallon and as predictable as the sun rising in the East, Obama claims there are no easy fixes and that the real solution is the forced development of alternative energy -- after all the United States has only 2% of the world's oil reserves.   This is not only demagoguery of the worst sort but an outright lie. The United States is, for the second time in less than three years, being reminded of its absurd dependence of foreign sources of energy, most notably, oil.  The upheavals in the Middle East have driven up the cost of a barrel of oil into triple digits as it was in 2008 and 2010.  However were there stability in this region the long-term price of crude would still be at or near this price range due to the increasing demands of countries such as China and India and the deliberate devaluation of the dollar by the Federal Reserve and the Obama administration. In 1982 China oil consumption was...(Read Full Post)

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