A stabilized Europe, coupled with a U.S. economy that is likely to dodge a recession, means oil prices are starting to perk back up. Crude oil, of the West Texas Intermediate (WTI) kind, shot up from $77 a barrel to $93 in October and, before long, expect to see gasoline prices quickly move back to the $4 mark.
The next time you hear someone rail against greedy speculators, tell them you’d rather pay lower prices for goods and services than listen to them whine about something they didn’t know anything about.
It's becoming clear: Obama thinks American voters are stupid. Anyone believing Obama's current campaign promises is either gullible or amnesia-prone. Increasingly, his campaign speeches indicate a rather pitiful and cynical hope that Americans will not remember his earlier promises nor will they recall past decisions by the Obama Administration that have failed so spectacularly. Obama’s reelection strategy seems dependent upon an ability to fool most of the people one more time.
It is time for our leaders in Congress – the ones lifted into power by a conservative wave – to take a bold, principled stand and put an end to energy subsidies. These subsidies distort private sector investment, waste taxpayer dollars, and allow the government to pick winners and losers.
Last week, protests broke out again in Europe, from Rome to London. The monthlong Occupy Wall Street demonstrations in New York have spread. The current unrest follows this summer's riots in London and flash mob incidents in U.S. cities. In 2009 and 2010, Tea Parties turned out hundreds of thousands in protests against the Obama administration's policies and eventually gave him the largest midterm rebuke since 1938.
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