With a barrel of oil still hovering around $100 a barrel, people are wondering why prices are so high. While violence and instability in the Middle East is one reason, the ongoing weakening of the US Dollar is another. According to Congress’ Joint Economic Committee, the weakening of the dollar since 2008 has added 56.5 cents to the price of gasoline.
Of course, Obama’s Energy Secretary is a big fan of higher gas prices and wants to see “European price levels” here in the US.
I actually sat down with Christian TV station KNAT to discuss the issue of high gas prices and what, if anything, government should do about it. Shows will air at the following times:
Tuesday, May 31st at 1:30am
Thursday, June 2nd at 1:30am
Friday, June 3rd at 11am
Saturday, June 4th at 1:30am
and the station is carried on the following dial numbers:
COMCAST – ALBUQUERQUE, NM channel 23
DIRECTV channel 372
DISH NETWORK channel 260
GLORYSTAR channel 2
SKY ANGEL channel 127
KNAT channel 23
3 Replies to “Gas Prices: Why so high?”
I and many others are old enough to remember the Arab oil embargo of 1973. It was a shot across our bow warning of the dangers of relying on imported petroleum products. The country has had 38 years to get its energy house in order and has basically done nothing. The failure to do anything is a combination of miserable leadership from Washington and the Aesop’s fable of the grasshopper and the ants. We’re the grasshopper.
Charles, the RGF is funded by big oil.
I’m not even sure what to say about this because my point and Charles’ had nothing to do with supporting “big oil.” 1) No we’re not; 2) I actually disagree with Charles that we should be pursuing some kind of “energy independence.” A global free market in oil and energy is far superior to and more stable than an isolated marketplace.