Right wing causes and benefits from high gas prices

Posted on Monday, March 5, 2012 by Doug Marquardt

Who is to blame for rising gas prices? The radical right hopes you’ll blame Obama, but here are the facts …

  1. Up to 50% of the cost of a barrel of oil comes from speculation and deregulation. Its the Republican-owned firms on Wall Street that speculate on oil, and its Republicans who push for deregulation.
    60-70% of oil futures are held by Wall Street speculators – Republicans who never receive delivery of the oil but are making a killing off of it, at the expense of the middle-class and the poor.
  2. 10-15% of the cost of oil is from the “Iran Premium”; fear of war with Iran, which is pushed by all of the GOP presidential candidates and Republican leaders in Washington, D.C.

Gasoline Prices

Therefore, 60-65% of the cost of a barrel of oil can be directly attributed to Republicans. Take Republicans out of the equation and oil and gas prices would be low, very low. But the right-wing insists on maintaining the status quo because:

  1. Republicans benefit greatly from high oil and gas prices. Republican-owned oil and gas companies are in a several year trend of record profits.
  2. Republicans hope that Americans will blame Obama for the pain they are feeling at the pump.

GOP candidates and Republican leaders keep repeating “Obama” and “high gas prices” in the same phrase thinking that Americans are just dumb-enough to buy the lie they’re peddling. Fortunately, we live in the information age and the internet allows us to research these things and share that information with others. So please, share this post with your friends and family.

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