U.S. gasoline prices have jumped to the highest levels ever for the middle of February. The national average hit $3.127 per gallon on Friday, about 50 cents above a year ago.Obama is directly to blame for gas prices by manipulating a weak dollar in a vain attempt to increase exports, AND by banning drilling and putting a chill on domestic production.
Overall, Adjusted for inflation, gas prices were higher during the Carter years than in 2008 when it topped $4/gallon.
What's next? Short of miracles in new drilling techniques, and short of the anti-oil hobbits in the Obama admin using EPA to further inhibit domestic production, the country is looking at $5-6 gas. Any chance of a respectable economy during any portion of Obama's first and only term will be dashed when gas prices rise to $4 or more - remember Carter's gas lines?
