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This is one of those posts that The Pink Flamingo has been working on for about six weeks.  It is more of a follow the bouncing ball than anything else.  There is no order in the post, just a bunch of miscellany.  When you put everything together, it really makes Obama look very very bad.  In a way they are damning.

Several things are going on here.  I wish I believed in conspiracy theories.  Unfortunately, I don’t.  So, logic must prevail.  Then again, what Obama’s draconian regulations are doing are just plan wrong.

  1. Obama is abjectly incompetent and OPEC knows it
  2. Obama is so arrogant he doesn’t give a damn about actual people in this country, their real lives
  3. The Obama administration is in league with the green monsters to completely remake our lives
  4. A combination of 1 & 2

Yea, I go with a combination of 1 & 2.  According to Wal-Mart, their shoppers are running out of money.  That is a very bad sign – for someone.

The Politico

Yahoo

The Pink Flamingo has long been on record as having stated that high gas prices were at least partially responsible for the economic disaster in 2008.  It looks like I am right.  I completely agree The Donald that Obama is to blame for high oil prices.

“...Real estate developer Donald Trump blames President Obama for the rising price of oil, warning, “this country can never, ever recover” if oil prices continue to go up.

“That’s really the life’s blood of the country,” Trump told CNBC in a phone interview on Monday. The Trump Organization chairman, who says he’s considering running for president, plans to decide “before June” on the matter.

He contended that Obama is not a leader and is “in bed with these (OPEC) people. He doesn’t speak the way you have to speak to them.”…”

Frum Forum

OPEC will make a trillion bucks this year.

People are cutting back on things, to keep up with the obscene cost of gas.

This headline says it all:  Two thirds of oil and gas leaks in Gulf Inactive.

Would someone please explain to The Pink Flamingo why Barack Obama is using tax-payer money to subsidize Brazilian energy drilling.   API President and CEO Jack Gerard wrote:

“…”It is beyond comprehension the administration would encourage trade for Brazilian oil while obstructing U.S. oil and natural gas development, eliminating related jobs here at home, and decreasing oil and natural gas revenues to the U.S. Treasury when the government is trillions of dollars in debt. The message from the White House to America’s oil and natural gas workers: we’re going to outsource your job.

“The administration is missing the obvious: what makes sense for Brazil also makes sense for the United States.  Like every other nation, we should be developing our own oil and natural gas resources.  It’s good for energy security, good for the economy, good for jobs, and it will help bring down our deficit.

“The administration says it supports more oil and natural gas development here in the United States, then at every turn discourages it.  And today, the White House is making a deal with Brazil for the oil it is not allowing companies to produce here.  There’s nothing wrong with buying Brazilian oil, but there’s a big problem when we’re forced to because we’re held back from producing our own.”…”

A picture is worth a thousand words:

Fausta's Blog

A Norwegian company says it could drill up to 17,00 gas wells in the Marcellus Shale.

AP - Windstream Home Page

In 2008 it was all GWB’s fault.

Only Bill Clinton agrees with GWB!

Wizbang

Were the 2004 prices designed to hurt GWB?

“…By restricting OPEC output since the end of hostilities in Iraq, the Saudis have forced oil prices up over the past several months. The American economic recovery is being slowly, almost imperceptibly, throttled. From a low of $23.61 per barrel in May, 2003, average crude oil prices have risen rather steadily, to $31.03 last month, up nearly one—third in eight months. If this rate of increase continues over the next eight months, the economic consequences for America will be grim.

Jobs are not being created at the expected rate, and increasing voter dissatisfaction with the President is shown in public opinion polling, with jobs and the economy heading the list of concerns. Additionally, the Saudis may have been reducing their holdings of petrodollars and converting them into non—dollar denominated assets. This has hurt the value of the dollar. Money flows are difficult to follow, and currency manipulation may have unintended consequences, but a proxy for the Saudi desire to hurt America may be seen in the increasing number of oil field contracts going to non—US companies.

NYTimes

The other factor which may hurt Bush’s chances for reelection is the situation in Iraq. Terrorists have been streaming in from Saudi Arabia, to wreak havoc and fund terror groups, despite protestations to the contrary by Saudi spinmeisters. Although attacks have been trending downward, an increase over the next several months would trigger renewed cries of ‘quagmire!’

On the domestic front, Saudi—funded think tanks such as the Meridian International Center and the Middle East Institute have been a fount of op—ed writers and experts on cable news channels, who criticize President Bush. The Middle East Institute (headed by ex—Ambassador to Saudi Arabia Edward Walker) is the home of one of President Bush’s fiercest critics, Joseph Wilson. Mr. Wilson was at the center of a scandal that plagued the White House when Wilson charged that the White House had leaked to columnist Robert Novak the information that Wilson’s wife was a CIA agent, thereby putatively endangering her….”

NYTimes

PoliticusUSA

How much of the high prices we are paying today are due to speculation?  What about in 2004?

“…WASHINGTON, July 30: The International Monetary Fund expressed confidence on Friday for short-term US economic prospects but warned of several challenges ahead, including high oil prices. In an annual review, the IMF said it expected the US economy to grow by 3.5 percent in 2006, down from a forecast given in April of 3.6 per cent. It left its forecast for this year unchanged at 3.6 percent.

Directors observed that, while subject to risks, the near-term outlook for the US economy remains broadly favourable, the IMF board said. However, directors cautioned that higher oil prices could begin to weigh more heavily on domestic demand, it said.

US consumers have so far shrugged off the effects of record-high oil prices, which stand at around 60 dollars a barrel. Figures out Friday showed the economy grew by 3.4 percent in the quarter to June, down marginally from 3.8 percent in the previous three months but still a robust pace.

But the IMF said that among other danger signs for the world’s largest economy are “the rapid inflation of US house prices in recent years”, a high current account deficit and an “extremely low” national savings rate.

In addition, a swollen US budget deficit makes it all the more urgent that the administration of President George W. Bush tackle its finances. Turning to monetary policy, the IMF commended the Federal Reserve’s policy of measured rate hikes to combat oil-fuelled inflation.

It said a more aggressive pace of interest rate hikes could not be ruled out if price pressures increase. The IMF welcomed White House projections for the yawning US budget deficit to fall to 333 billion dollars this year thanks to better-than-expected tax receipts.

Nonetheless, most directors considered the administration’s goal of halving the budget deficit to be relatively unambitious, as this would imply limited adjustment in the structural fiscal position in coming years. It is also subject to considerable risk, given the assumption of an unprecedented compression in non-defence discretionary spending.

The White House wants to halve the deficit by 2009 after it hit a projected record-high of 521 billion dollars in the 2004 fiscal year, or 4.5 per cent of gross domestic product (GDP).

Bush inherited a budget surplus from Bill Clinton when he took office in 2001, but the United States has sunk into the red owing to hundreds of billions of dollars in tax cuts coupled with military spending in Iraq and Afghanistan..”

Why are we not using OUR incredible resources.  We are told that there is no use even bothering with the shale resources we have, but that isn’t quite true.

“…Higher gasoline prices will give consumers less money to spend on other goods and services, which many economists fear could slow the U.S. economy.  The EIA said it expects drivers will pay an average $3.71 a gallon during the summer peak driving season from June through August, about 98 cents more than last year.

There is a 25 percent chance the pump price will exceed $4 a gallon from June through August, the agency said, compared with a 10 percent probability gasoline could fall below $3 during the same period….”

Remember when GWB was in office?  The high oil prices were HIS fault.  Guess Obama is not to blame, right?

Weekly Standard

Why aren’t we utilizing oil from Canada?  That’s what Lindsey wants to know.

“...Senators, including South Carolina Republican Lindsey Graham, want to take Canada up on the offer via a proposed pipeline from Northern Alberta to the Gulf Coast.  The question facing Americans is “why not buy oil and gas from a friend?’ suggested Prime Minister Stephen Harper during a recent visit with President Barack Obama at the White House.  It would be the “most secure, most stable and friendliest location they can possibly get that energy,” Harper said as opposed to “other places that are not secure, stable or friendly to the values of the United States.”

Concerns by environmentalists and others over building the Keystone XL pipeline prompted Graham to speak up.  “I’ve been told that the second largest-known deposit of oil is the oil sands in Canada and that it is equal to, or greater than, Saudi Arabia and Iran,” he said…”

Reuters

Ron Arnold wrote:

“…”Energy is the capacity to do work.” That simple truth from Physics 101 has everything to do with gas prices spiking at the pump as Moammar Gadhafi’s war planes bomb Libya’s rebel-held oil district and the whole Middle East seethes in unrest.

With shaky foreign energy supplies threatening to deepen the worst recession since World War II, why doesn’t America protect its capacity to do work by drilling for more oil and gas here at home? Simple truth from Politics 101: Big Green’s extreme anti-energy ideology permeates the Obama administration.

Dan Kish, senior vice president for policy at the D.C.-based Institute for Energy Research, told me, “The Obama administration is deliberately embargoing our own domestic energy from us, from Americans.

He and his agency heads all believe in the politics of scarcity — force society to live with less. The most anti-energy interior secretary in history is Obama’s Ken Salazar — who is also presently in contempt of court for withholding deepwater Gulf of Mexico oil drilling permits.”

Department of the Interior Secretary Salazar, a former U.S. senator from Colorado well practiced in Washington’s pretended niceties, wields power with self-assured arrogance that needs no bluster. Two days before Christmas last year, he issued Secretarial Order 3310, in which through bureaucratic fiat he created a new category of off-limits federal property that he calls “Wild Lands.”

House Natural Resources Committee Chairman Rep. Doc Hastings, R-Wash., held a hearing last week to criticize Salazar’s end-run around congressional authorization and the Wild Lands order’s adverse impact on jobs and economic growth. Hastings was clearly furious, ending his opening statement with, “This administration should be on notice that unilateral decisions and orders to impose restrictive, job-destroying policies will be met with firm resistance.”…’

The Daily Caller

The fawning bloggers and right wing pundits of the GOP are idiots. There is no other way to put it. While they are busy playing a smoke & mirror game led by Sarah Palin turned Media Whore, and playing the blame game for an evil person’s actions, they are blowing it. They are ignoring the world and the problems of today’s world.

Oh, wait. Tea Party “Patriots” are isolationists. They don’t give a rip about anything but their own little losertarian agenda.

They are playing into the hands of Obama’s fawning press. Obama is doing a bate and switch, trying to steal GOP thunder and move to the center as quickly as possible. When Bernie Sanders speaks out, we’re in trouble.

Obama is going to sign an executive order to streamline “bad” rules and regulations. Perhaps he should note what his EPA is doing.

If a Republican were in office, right about now, you would be hearing a steady litany about oil prices. Currently the only “right” source even bothering is Matt Drudge. Unfortunately the right is so busy with conspiracy theories and behaving like a bunch of idiots that they are ignoring a very real problem in this country. Instead of seeing poll numbers that should be falling like the price of oil should be doing, his poll numbers are rising as fast as the price of a barrel of oil.

CNBC

In the UK, food prices and inflation rose 3.7% in December.

Why?

Oil prices!

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