Robert Reich is the biggest joke in economic thought in a thousand years. Actually, he’s tied with Paul Krugman for the title. Gas prices are rising because our dollar is diminished. All other factors are secondary. His boogeyman theory about ‘speculators’ is laughable, as always.
weak dollar.
I had to stop right there.
Anyone who thinks that we are experiencing a "global recovery" is delusional.
Most of the hedge fund and bond manager reports I'm reading are positioning their clients' assets for a CONTRACTION.
Keep dreaming, Robert.
Gee, Gnome Chumpski, if we drilled for offshore oil and built the XL pipeline and drilled in ANWR, wouldn’t that help offset Iran’s threats to cut off oil and help to meet the rising demand created by Obama’s bestest economy in a gazillion years?
Watch Obama dip into the emergency reserve supply.
Ha haaaaaa!!!
Wouldn't it be a hoot if Ukel suddenly approved offshore drilling and the XL pipeline???
Hooooo. I'd love to see the looks on those hedge funds' faces when those prices dropped through the floor.
Oh. Wait. I forgot. The pipeline and drilling have no effect on prices.
Nice try at a Jedi mind trick you little Ewok.
If the US drilled one billion barrels a day and shipped out to overseas markets 1 billion barrels a day, there would be no relief for the US citizen unless he was heavily invested in oil companies. How much Alaskan oil goes directly to Japan? How much of the Canadian oil will be retained here via the XL Pipeline? Not much.
So this clown infers that the Keystone pipeline is not an oil supply line, and has nothing to do with the supply of crude.
We do not have enough refineries and not enough oil wells or we would be in charge of the world price of oil and gas, the economy would be greater than ever and we would not be supplying terrorists with billions of dollars to destroy the world system. The administration cares nothing of the American Way.
Is this a publication people spend their hard-earned money on or is it one of those leaflets that get handed out for free outside of Occupy Wall Street rape tents?
Bobbie can’t even see over the top of a gas pump.
“Funny, I don’t hear Republicans rail against speculators. Could that have anything to do with the fact that hedge funds and money managers are bankrolling the GOP as never before?”
Really, Robert? Got an evidence to back that up, or are you just going to throw that out there in hopes that the uneducated democratic voter base laps it up without a hint of skepticism?
Huge Plunge In Petroleum and Gasoline Usage
http://globaleconomicanalysis.blogspot.com/2012/02/huge-plunge-in-petroleum-and-gasoline.html
If speculators were influencing the market as Reich suggests I would think the price of a barrel of oil itself would be rising. However, it has stayed pretty static for awhile, only rising lately a little bit in response to the Iranian decision.
It’s the price of gas itself going up.
Professor Dwarfenstein first to leap into the breach spouting the conspiracy theory of the Grrrrrreeeeedy Eeeeeeevil Speculators.
Expect this to become a crescendo chorus. The Libs don’t have many other cards to play on this one.
Production cost is a key factor in the supply side of the equation, so the Republicans are right to call attention to cost-increasing government policies — things like mandated additives and environmental regulations blocking domestic oil production, pipelines, the construction of more efficient refineries.