Last night Romney confronted Obama with our energy problems and the obscene increases in gas prices. Obama responded saying the economy was on the verve of collapse and hence the lower prices. If permitted to implement his proposed policies the country will fall back into the same mess. We just picked up an AP story off the wire about increased gas prices.
AP: “Oil gave up early gains and hovered around $92 per barrel on Wednesday after the government reported a bigger-than-expected increase in U.S. crude supplies.
Supplies rose by 2.9 million barrels last week. That was almost double what analysts had forecast, according to Platts, the energy information arm of McGraw-Hill Cos.
Gasoline supplies also rose. Analysts had predicted a decline.
The extra gasoline and oil in storage tends to push prices down, because it suggests that there’s enough to go around, or that demand is low.”
Romney was correct last night about the cuts in both Gulf and government land production, all of which increased unemployment, GDP, and government tax revenue. Prices are affected as a result of no demand due to no economy. What happens when America further relies on foreign sources? What have wind, solar, and electric produced?
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Posted on October 17, 2012
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