It is pure hogwash that Obama has no control over energy prices and he should be held completely responsible for the current price of gasoline. Remember Obama's statement that under his energy policies prices would necessarily skyrocket?
Obama and his intellectually challenged Energy Department head, Steven Chu, Phd. in Physics, have been doing everything they can to encourage increases in oil prices because they believe we are too dependent on fossil fuels and price increases will cause us to reevaluate alternative energy sources. Gas prices in Europe are now over $8 a gallon!
Now that the fruits of their labors have taken root they are too cowardly and dishonest to explain to America what they have done and take credit for their actions. Obama even had the audacity to defend and mislead his actions when he incongruously asserted "I'm going to keep doing everything I can to help you save money on gas, both right now and in the future."
Fluctuations in the oil market encourage speculation. Fluctuations occur because supply is at or near demand. OPEC has an interest in keeping the situation at that juncture to keep prices high. Despite his claims otherwise, Obama and our own dear governmental regulators are limiting refinery production, limiting oil production, limiting where we can drill for oil and working against alternative delivery means like the Keystone Pipe Line. If we increase production, that means harvesting more oil by drilling in more locations, increasing refinery capacity by building newer more efficient refineries and diffusing demand by providing alternate energy sources like natural gas (which is substantially cheaper than gasoline), supply would increase and starts exceed demand. Excess supply would reduce demand and thereby reduce concerns over sharp changes in price thereby flattening fluctuations. Without sharp fluctuations the return on speculation would decrease and speculators would go look else where to find profits.
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