Much of the result of the ever increasing gas prices is the value of the dollar. China and Russia no longer trade in dollars. The Chinese - now King of the mountain - are already suggesting trashing the dollar for the Yuan as Global Currency. There is a glut of oil on the world market and much of the US oil is out of bounds because of government’s outright banning or overly burdensome rules and regulations. Every mentionable alternate energy source which is already heavily subsidized is much more expensive than oil. Wait till we have to buy oil with Yuan.
All done with malice aforethought by the Marxists in the administration and their able assistants in the MSM!
I heard that dollar talk the last time gas spiked to nearly $4. Was nonsense then and still is now. It’s mostly Aramco/oil companies playing the game and squeezing the goose for all they can.
Don’t forget the rise in gas prices being due to the moratorium on drilling, the regulations on drilling and that since the oil spill/moratorium BS, a lot of platforms went to other companies/countries.
It’s BS that other countries can drill on our shores, at any depth, any where, but we can’t. We need to stop this...and start drilling and using OUR resources!!!
The slide down has already started... so few see it.
Your post is spot on. The PROXIMATE cause for crude oil’s (and thus, gasoline’s) recent price increase is the Quantitative Easing 2 program of the Fed. Buying back US bonds held by Arab and Chinese investors dumps US currency overseas, thus reducing its value, and pushing up crude prices. Oil is not going UP, rather the dollar is going DOWN.