For Newt Gingrich to claim that if he becomes President he would guarantee gas prices wouldn’t be more than $2.50 per gallon, is duplicity and fallacy combined!

TheUnited Statesis a Democracy and a Capitalistic Society. Neither the President nor Congress has any control of Oil Prices. As oil prices increase so does gasoline and any and all finished products that contains oil.

Oil prices are set by OPEC and   unlike most products; oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination. Cyclical trends in the commodities market may also play a role. Regardless of how the price is ultimately determined, based on its use in fuels and countless consumer goods, it appears that oil will continue to be in high demand for the foreseeable future.

To blame the President for the increasing gas prices reflects the ignorance of some and the egregiousness of others. By others I mean the GOP Candidates that are seeking their party’s nomination for the Presidency. These are not stupid people but they are pernicious people.

For Newt Gingrich to claim that if he becomes President he would guarantee gas prices wouldn’t be more than $2.50 per gallon, is duplicity and fallacy combined. The only gas Newt has is imbedded in his massive bloated body – his abdomen!

Rick Santorum and Mitt Romney’s claims that the President is responsible for the escalating gas prices, they too are perniciously egregious!

At the present time, The United States Oil Companies are actually exporting Oil and Gas toChinaand other countries because they are able to charge higher prices. We have no shortage of Oil and as a matter of fact; we are producing more oil at the present time, than any other time in our history!

Former President George W. Bush and his predecessors, all of them encountered the same problem during this time of the year!

Sheriff Ali

 

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