Wednesday, April 13, 2011

A New High Is A New Low

Over three months ago, I wrote a post about the price of gasoline, "Up, Up, And Away." At the time, I was lamenting how gas prices were around $3 a gallon, and outlined some of the difficulties these kinds of prices place on regular old people like us. I did not think that the prices would continue to escalate to where they are now - DOUBLE the amount since Obama took office.

That is pretty dramatic, isn't it? That it costs us twice as much to fill up our cars in just two short years since Obama got into the White House? Yikes. Not that his followers have said much about it, nosirree. They have been mysteriously silent on that point. Huh. I wonder what they would have said had this happened under, say, Bush? Oh, wait - they are STILL blaming Bush for the prices:

Now y'all know I was not a huge fan of George W. Bush's, not by a long shot, but comparing 8 years to 2 is just a bit of "fuzzy math." And forgetting that there was/is tremendous upheaval still in Iraq and Afghanistan is a tad disingenuous. Yes, things are going nuts in the Middle East, but really, that is not new to this president. That is all to say, what a stretch. The most recent turmoil has been going on the past 3 - 4 months - how about the increases from last year, huh? Good grief. Are there any hoops these folks will not jump through in their attempts to exonerate Obama of any wrong-doing, any inaction, any missteps? Apparently not, at least not in Cenk's case(and feel free to list as many examples of this as you would like).

Though at least Bob Beckel can acknowledge that, if nothing else, maybe Obama shouldn't be laughing about how much gas now costs Americans:

At least Beckel has a sense of humor about his support for Obama and his budget policies, but yeah, laughing at how much it is costing people to fill up their cars, not getting the impact these gas prices are having on Americans all across the board, is telling, telling, telling about Obama.

But get this - these current gas prices are going to look like a walk in the park compared to what we can expect this summer. Yes, the experts are now saying we can expect a 40%, yes, that is FORTY percent,increase by this summer:
[snip] According to AAA’s daily fuel-gauge report, the national average price for a gallon of regular gasoline is about $3.79, up about 33% from $2.86 a year earlier.

The average U.S. household’s vehicle fueling costs will rise about $825 from last year’s level, hitting $3,360 in 2011, the EIA said.

The government also expects refiner acquisition costs of crude oil to average $112.50 a barrel this summer, up about 50% from the prior year.

Meanwhile, wholesale gasoline margins — the difference between the wholesale price of gas and the refiner acquisition cost of crude — are forecast to average 53 cents a gallon this summer, up 47% from last year. (Click here to read the rest.)

Holy shit. This is a cascade effect kind of thing, as many of us already know. It affects how often we drive, how much our food and clothes cost, how much we have left over at the end of the month.

Reuters/Ipsos just came out with a poll this morning highlighting this very issue:
[snip] More than six of every 10 Americans have cut back on other expenses and reduced their driving as a result of the rising gas prices caused by tumult in North Africa and the Middle East.

The increase in energy costs also hurt Obama's approval rating, which dipped for the second consecutive month to 46 percent -- his lowest Ipsos poll rating since early December 2010.

"That's all a function of gas prices. People are feeling the pinch at the pump," said Ipsos pollster Cliff Young.

"Increased gas prices have a direct impact on the pocketbook, and there is very little lag time between rising gas prices and its effect on presidential approval and confidence," he said. [snip] (Click here to read the rest.)

Yes, this is having a major impact on Americans all across the country. And it looks like it will only be getting worse.

Bottom line, this is NOT a laughing matter, Mr. Obama, not even close.