Bush's deficit spending has weakened dollar which has caused the rise in oil prices. Yes, the Bush economy has caused the rise in oil prices.
Kenny, old boy, I'll make this rather short because I've gotta run..
FYI, the US government has engaged in deficit spending since gasoline was 25 cents a gallon, many decades ago. The weak dollar, which has some bearing on oil prices (and gold), is primarily a result of the housing and credit debacle, a mess that rightfully has many fingers of blame to point to, including the bleeding hearts who claim that everyone has a right to own a home, whether they could afford to pay for it or not.
Oil and it's derivatives are fungible commodities whose prices are set on world markets. The main reason that prices are high right now is that supply and demand are in precarious balance, with growth in places like China and India pushing demand ever higher, in spite of current slack demand in the US.
Unfortunately, much of the world's supply of crude happens to exist in politically unstable and dangerous locales. That, in addition to the fact that there is good evidence that peak (cheap) oil production has caught up with demand and that "global warming" ecofreaks and their media and political cohorts are totally f*cking this country over with their energy starving "policies", is why oil is at $104 per bbl and is going to go a lot higher.
You and Sister should both study a little and learn a little before indulging in your ignorant yapping and babbling here... |
