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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Thursday, March 08, 2012

Gas bag redux

Has anyone noticed how the Republican Party is driving up the price of gasoline?

With the economy slowly recovering, the GOP candidates have seized upon rising fuel prices as their latest weapon, insisting our problems would go away if we just followed their advice to "drill baby, drill."

Ignoring the reality that domestic oil production is on the rise,  GOP candidates insist they can bring the price of gasoline down to $2.50 simply by dropping rigs into environmentally sensitive areas like the Alaska Arctic Wildlife Refuge.

What they ignore is the impact of the capitalists they tout, Wall Street speculators who bid up the price based on fear of disrupted supplies.

Disruptions premised on the fears of war generated by rhetoric directed toward Iran and Syria.

So think about Mitt and Newt and their rhetoric the next time you fill up.

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4 Comments:

Anonymous Anonymous said...

So Mitt's and Newt's rhetoric has more sway than what comes out of the White House? doesn't make sense. Barack said Iran will not have a bomb, he doesn't bluff. The speculators are making their money on a time frame based on the next 3-6 months and Barack is still in charge for that time period.

March 08, 2012 5:15 AM  
Anonymous Anonymous said...

In charge of the nation, but not in charge of speculators.

Speculators know they can buy this Summer's oil today for less than it will cost when everybody starts going on road trips.

Talk about class warfare--that's the rich basically taking a toll every time you fill up your tank, because they get to pocket the difference between the real cost of gas and the price by which they've inflated it!

Are you suggesting that the president ban this kind of speculative trading?

March 08, 2012 2:44 PM  
Anonymous Anonymous said...

Speculation is one of the cornerstones of capitalism. Read about the tulip bulb bubble in the 1840's(?).Speculators fulfil several vital economic functions by facilitating the marketing of commodities. The gas shortages of the 70's were made worse when the government tried to control the speculators. If you have some money you can also buy futures at Infinity trading corp(for one) and join the 1% instead of complaining. But the message of the post was that republicans were at fault for the gas prices, you liberals blame politicans who aren't even in charge, Barack is tefloned.

March 09, 2012 4:53 AM  
Anonymous Anonymous said...

Oops, the tulip bulb bubble was in the 1600's, but still has important lessons for us today. I bet noone at the Occupy movement had ever even heard about it.

March 09, 2012 5:00 AM  

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