'Stupid' and Oil Prices, Obama's Forrest Gump analysis of rising gas prices.

'The American people aren't stupid," thundered President Obama yesterday in Miami, ridiculing Republicans who are blaming him for rising gasoline prices. Let's hope he's right, because not even Forrest Gump could believe the logic of what Mr. Obama is trying to sell.

To wit, that a) gasoline prices are beyond his control, but b) to the extent oil and gas production is rising in America, his energy policies deserve all the credit, and c) higher prices are one more reason to raise taxes on oil and gas drillers while handing even more subsidies to his friends in green energy. Where to begin?

It's true enough that oil prices can't be commanded from the Oval Office, so in that sense Mr. Obama's disavowal of blame is a rare show of humility in the face of market forces. Would that he showed similar modesty in trying to command the tides of home prices, car sales ("cash for clunkers"), or the production of electric batteries.

The oil price surge has several likely sources. One is the turmoil in the Middle East, especially new fears of a supply shock from a conflict with Iran. But it's worth recalling that Mr. Obama also blamed the last oil-price surge, in spring 2011, on the Libyan uprising. Moammar Gadhafi is now gone and Libyan oil production is coming back on stream, yet oil prices dipped only briefly below $90 a barrel and have been rising since October. Something else must be going on.

Mr. Obama yesterday blamed rising demand from the likes of Brazil and China, and there is something to that as well. But this energy demand is also not new, and if anything Chinese and Brazilian economic growth has been slowing in recent months.

Nope ... we're NOT stupid. And we remember things. Like, for instance, this article from 2010 which states .... In May 2004, The New York Times reported that congressional Democrats “were stepping up pressure on the Bush Administration to ease gasoline prices,” when prices were still under $2/gallon. In April 2005, at another press conference, a journalist stated: “Mr. President a majority of Americans disapprove of your handling of social security, gas prices…” In 2006, Senator Barbara Boxer (D-CA) exclaimed: “Since George Bush and Dick Cheney took over as president and vice president, gas prices have doubled…They are too cozy with the oil industry” after she drove one less-than-energy-efficient block to a press conference at a local Exxon station.
In 2008, then-Speaker Nancy Pelosi (D-CA) “blasted” the president for rising gas prices on his (and her) watch. In July 2008, ABC News asked the president what was his “short term advice for Americans about gas prices?” repeating a nearly identical question asked at a February 2008 press conference. In April 2008, Senate Majority Leader Harry Reid (D-NV) said gas prices were “the number one issue facing America today.”
You get the point. Yet, at the end of President Bush’s presidency, gas prices were 9% lower than when he took office (adjusted for inflation). So where have these outspoken critics been since Bush left office?

Since President Barack Obama was inaugurated, gas prices have been on the steady rise, as have home energy prices. During his tenure, he presided over arguably the worst federal response to an oil spill in our nation’s history, and has pressed legislation on Capitol Hill that would, in his own words, cause electricity prices to “skyrocket.” Yet there has been almost nothing said by the media as consumers face $3/gallon gasoline at the pump in December for the first time in U.S. history and see their home heating bills soar in the winter months.

This strategy is an EPIC FAIL on his part.
He is quickly coming to the point of having only two options:

1) Climb down off the ideological ledge and approve the pipeline. Then get onboard with Drill, Baby, Drill. (I do not in any way believe that he will do this).

2) Move beyond the rhetorical and declare an honest-to-goodness war on Grrrreeeedy Oil Companies and Speculators. This will require him to turn Holder loose to arrange Stalinist show trials. Large numbers of sheeple will buy into this, and he may actually bring prices down for a short time if he manages to collapse the futures market.

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