US Action News

Illinois’ prices are so high because of the state’s additional gas sales tax burden.

“Every one-cent increase at the pump steals about $1 billion from the larger economy that consumers would have otherwise saved or spent on something else,” the Wall Street Journal has pointed out. High gasoline prices thus translate into lost jobs, lost tax revenues and lower living standards.

We would really be in trouble if US GDP was over 2%! How about if unemployment was below 7% or banks were actually lending to small businesses?

What do you expect from a President who names an energy secretary that thinks we should have higher gas prices “like those in Europe”? We warned that Obama is pushing up gas and energy prices with his “green” socialist agenda.

It is about time the CFTC get its act together, and start going after the culprits who rig the oil and gasoline markets costing consumers and businesses a mafia tax …

The likely eventual consequence of this unlimited money printing operation – Dollar debase and the artificial price inflation of almost everything from commodities (including Oil and Gasoline) to stocks, and consumers end up paying the price.

If the ECB is going to target an interest rate for Spanish Bond Yields on the 10=Year why not set actual targets for Oil as well.

Gasoline futures have soared 19% over the past two months as traders seem to be betting that prices of gasoline and diesel will continue to rise. Pump prices typically lag behind the futures market by several weeks.

Oil and gas not only touches people’s lives everyday whenever you flip on the light or gas up at the gas station but it affects costs of all services and goods. Higher energy costs drive up costs for virtually everything.

The rise in Oil and Gas prices in the last month based on hopes that the Federal Reserve will boost asset prices some more should be the biggest warning sign that they need to stop this madness, and let the market down for a change.