$4.00 a gallon - http://www.losangelesgasprices.com/
Oil companies play no part in the present gas prices? Really? You’re going with that?
Sorry, there is plenty to bash Obama about. This just doesn’t rank in the top 100 - IMHO.
“Oil companies play no part in the present gas prices?”
They could just give it away if they wanted to.
$4.00/gallon is what you get for buying gasoline in Los Angeles, the central garbage pit of the People’s Republic of California. Obama was talking about gas prices IN PENNSYLVANIA.
If he was talking to people in Los Angeles, his statement might be truthful. Since he is talking to Pennsylvanians, he is lying.
Here's a little lesson on economics. Of course oil companies always make as much money as they can, but that is a function of both price and volume.
They cannot unilaterally raise prices, because they have competition, and their volume would drop to zero, if they raised prices too much.
They could make more money by producing much more oil, and lowering prices a bit to get more sales volume, but the government prevents them from producing more oil in the U.S. There are oil fields offshore, and in Alaska, that would easily be cost effective for them to develop, were it not for government interference.
People often get upset with the supplier, when the price of something they need (or want badly) goes up, but they seldom take a rational look at the economics of the situation.