“The White House promise that it could release oil from strategic reserves if prices get too high,” says CNBC “is keeping a lid on crude prices, already under pressure from slower global growth.”
Wednesday, March 03, 2010 8:33:00 AM · by RogerFGayMensNewsDaily.com ^ | March 3, 2010 | Roger F. GayTo meet the Obama administration’s targets for increasing fuel taxes, researchers say that Americans will have to pay $7 for a gallon of gasoline; about 17 percent more than drivers in green-conscious and generally highly taxed Sweden.
Trump: Gasoline to Hit $7 a Gallon This Year
Money News ^ | Tuesday, 21 Feb 2012 08:55 AM | Forrest Jones
Posted on Wednesday, February 22, 2012 5:07:50 PM by robowombat
U.S. military officials have said they feel they can ration with Iran, although fears are growing that Israel may consider a unilateral strike on Iran anyway, which is sending crude oil skyrocketing.
Gas Prices Are Going Up No Matter What Happens In IranEconMattersFebuary 22, 2012Oil futures spiked more than 2% in one day to their highest level in nine months on Tuesday Feb. 21.
WTI front month contract closed at $105.84, while Brent ended at $121.66 on ICE, primarily on investors fear of potential conflict over the escalating tensions between the US, Europe, Israel, and Iran. A second Greek bailout deal of €130bn £110bn; $170bn also helped to inject some optimism into the market which would seem totally mis-placed as we may need to relive this Greek drama in two years.
Nevertheless, the fact remains crude oil market supply and demand has not changed a bit to warrant a 2%+ price jump in one day.The U.S. and its allies believe Iran is building nuclear weapons, which Tehran has vehemently denied. Last week, the European Union EU imposed a ban on Iran oil imports effective July 1, and froze the assets of its central bank.
In December, the U.S. said it would “blacklist” companies in the U.S. market if they do business with Iran’s central bank.In retaliation, over the weekend, Iran announced that it halted oil exports to France and the United Kingdom and warned European companies that it would halt their supplies unless they sign long-term contracts.
Obama’s War on Oil
american spectator ^ | 5-4-11 | Peter Ferrara
Posted on 05/05/2011 11:02:39 AM PDT by WOBBLY BOB
Why would President Obama want high gas prices? It’s a matter of ideology for him. He thinks it’s good for the environment for gas prices to be high. The higher gas prices are, the less you will drive.
Also, higher gas prices make his beloved “alternative fuels” more competitive. That is because these alternative fuels are inherently more expensive, and so can’t compete with cheaper gas.
Note this is not a prescription for easing the financial burden on working people. High gas prices make it more likely you will buy expensive “alternative fuels.” But either way, your wallet will still be drained.
(Excerpt) Read more at spectator.org …
BENGHAZI, Libya — World fuel prices are surging, in part because of the bloody battle to topple Moammar Gadhafi, but there’s one place where the price of a gallon of gasoline actually has dropped: war-torn Libya.
Rebels in eastern Libya filling up their tanks as they head to battle down the country’s coastal highway are paying 25 percent less than they did before their revolution began last month.
Today, gasoline costs the equivalent of 46 U.S. cents a gallon; last week, the price was just over 62 cents.
(Excerpt) Read more at mcclatchydc.com …
“Humanitarian Wars are Good for Business”…. Speculators Applaud ~ “appropriated from households which must now pay a higher price for fuel”
What this means is that powerful institutional speculators on Wall Street with links to the US military and intelligence establishment will cash in on billions of dollars in speculative gains not only in the oil market but also in the commodity and foreign exchange markets.
This money is appropriated from households which must now pay a higher price for fuel.A “humanitarian war” would be “good for business”. It serves the interests of the institutional speculators, it contributes to a further process of appropriation of money wealth.
ARTICLE CONTINUES BELOW
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Bloggers & Personal ^ | 23 Feb 11 | XzinsPosted on Wednesday, February 23, 2011 4:29:36 PM by xzins
Dear King,How do you think this will work, Your Majesty?
Then we can get people worrying about the Suez and whether oil will flow.After that we’ll turn our attention to Libya. Can’t stand that doofus Khadafy, anyway.
And if I let Libya descend into chaos without comment, then our mutual friend’s speculators will throw their money at higher futures.
They can say they’re worried about Libyan high grade oil. And you and the glorious realm of Mecca will benefit.Yes, my dear King, since I bowed before you, I’ve been so busy getting the American economy screwed up that I’ve not had much time to talk.
First, we had to stop drilling for oil, and we’ve done pretty well with that. Praise Allah for oil spills in the Gulf.Next, there was the whole collapse of the global warming scam, and that made those green energy alternatives harder to bring up. You and I know many of those things just won’t work no matter what, but can you believe our voters think that non-existent, unbuilt wind mill farms are reason to cut back on real energy today? Even if they had them, they wouldn’t give the needed energy…but I digress.
Those farms will work for us, though. They’re part of our total plan of “green” excuses and green alternatives for shutting down natural gas, shale, and coal energy. And that’ll drive your oil prices even higher.Can you say, “Happy Harem.”How about a little shout out for $7 a gallon gasoline and $200 a barrel oil? That’ll fill the coffers, won’t it?And just think,……………………….