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$7 per Gallon Gas?

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Posted on June 18 2010 6:28 pm
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One forgotten part of the financial crisis that began in late 2008 was the “straw that broke the camel’s back,” the price of oil. Sure there were too many people who had mortgages beyond their means, and of course some mortgages with flexible interest rates jumped so high that once affordable home loans were pushed out of reach, but the needle that popped the mortgage bubble was gasoline prices that were nearing $5 per gallon. Those gas prices drove inflation in all sorts of staple items, not only for the mortgage payer, but for the loaner driving up those flexible interest rates.

Seeing what $5 a gallon gas did to the economy, just imagine the collapse a $7 price tab would cause.  According to a study conducted by the Kennedy School at Harvard, that is the dollar figure President Obama is working toward.

Months ago Obama and his cap and trade team in congress began work re-branding his economy killing environmental plan:

…downplaying the global-warming rationale and claiming that it was really a jobs bill (the so-called green jobs were supposed to spring from the new clean-energy economy) and an energy-independence bill (that will somehow stick it to OPEC)

Unfortunately for the POTUS, Americans are not as stupid as he things.  Most of us did not buy the green-jobs hype. Americans saw what was going on throughout the world.

Read the Rest at Yid with Lid.

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