With gas prices soaring to over $4 a gallon in some places, it turns out that the big oil companies are receiving billions of dollars in subsidies. About 4 billion, at the same time that they are making unprecedented profits. The response in Washington has been "ahem, ahem." The Obama administration is "talking about it," as is Boner Boehner. Whether they actually do something about it remains to be seen.
If the Obama administration wanted to bring gas prices down it should release oil from the petroleum reserve. So far it hasn't. High oil prices, combined with a weak real estate market, could easily send the economy into a new recession. My message is "Keep it up, dumb dumb. You'll be a one term president yet."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment