Four Dollar a Gallon Gas? It's a Reality in California Already
At least for premium. Regular's around $3.40 to $3.50 in my neck of the woods in Northern California. (Thank God for telecommuting.) But as Richard Pollock writes at the Tatler:
OK, so world oil prices are spiking as Mummar Qaddafi goes on a shooting spree against his own citizens. Traders are now talking about $4 gasoline at the pump.
That could look cheap a year from now. And it won’t only be because of deranged lunatics in the Middle East.
Last summer former Shell CEO John Hofmeister predicted that President Obama’s drilling moratorium alone could result in $5 gallon gas for American consumers.
“Politics is destroying our own domestic oil industry,” Hofmeister told CNBC.
Want to see a real political crisis for President Obama? Just wait until prices are screaming at the pump.
As Red State notes, "Obama’s assault on our domestic energy now a 4-alarm fire." But voters can't say they weren't warned; high energy prices were what Obama publicly wished for on the campaign trail in 2008, in order to force his much-vaunted "change:"
It will be interesting to watch the MSM's reaction if prices continue at their current highs; they were screaming for higher gasoline prices themselves (as long as the hike was in the form of additional taxes for DC) when gasoline prices cratered in the last weeks of President Bush's administration.