Energy prices have skyrocketed in recent months. Some of it is due to rising demand in China, India and other countries who are the winners in the globalization game. Some of it is supply disruption from Libya. Another factor is Wall Street speculators who are driving up the price because of the declining dollar and Middle East turmoil. The factor that is really decisive is Obama’s policies.

The regime of Barack Hussein Obama had ordered moratorium on offshore drilling. They haven’t pursued a policy of encouraging domestic production of not just oil, but natural gas as well. Instead they have spent billions pushing fantasies such a windmills and solar panels. Technologies that don’t result in a reliable supply of energy. Hence these are the factors why oil prices are rising. Another unspoken factor is that the regime wants exactly that!

Skyrocketing gasoline prices have sent President Obama’s public-approval ratings plummeting. The White House is searching for someone to blame, but the problem rests not with the pumps but with the president.

Mr. Obama maintains that lack of supply is not driving up prices. However, domestic demand is not the issue either, since U.S. energy use per capita has been on the decline. So the White House has formed an interagency working group to root out the “traders and speculators” whom he says are responsible for America’s gasoline woes. This type of populist blame-game is typical of the Obama administration’s approach to policy challenges, and diverts attention from the true proximate causes of the oil spike, such as the crises in the Middle East.

If prices are being manipulated, perhaps Mr. Obama should take it up with the OPEC potentates who are the most direct beneficiaries. Mr. Obama also said he wants to end what he says is a $4 billion annual taxpayer subsidy to oil and gas companies, though how removing a subsidy will lower gasoline prices has yet to be explained.

Read the rest: Obama running on empty

Barack Hussein Obama is engaged in demagoguery on this issue. He refuses to come up with solutions. Instead he tells people to get new cars and blames the oil companies. He is in full 3rd World Liberation rhetoric mode on this issue.  Obama probably also likes the fact that Islamic and 3rd World Liberation regimes are making out and until a comprehensive energy policy is developed and production encouraged at home the high prices will continue to hurt America’s purchasing power.