Wednesday Morning, after missing a couple of days work over a stubborn knee, I put some gasoline in my tank to finish off the work-week. The price at the local ARCO, which is always the lowest in town, was $3.99 per gallon. This morning, as I got on the road I noticed it was at $4.43. On the way home the price per gallon had jumped once again, settling at $4.69. . . and it was still the least expensive in town. Some of the stations crested over $5.00 per gallon.
The incredible jump in gas prices in California is being blamed on a refinery fire in Northern California, a loss of power to a refinery in Torrance, and a number of other refineries pumping out less than their normal output. When one takes into account the economic concept of supply and demand, and one considers that all of this has put a strangle-hold on supply, it makes sense that the prices have jumped seventy cents a gallon (at least) in a matter of a couple of days.
Isn't it funny how the liberal media blames a lack of supply for rising prices now, yet won't consider that domestic drilling for oil, which would increase worldwide supply, might in turn bring down prices?
According to the local media the spike in fuel prices have actually caused some people to be forced to leave their jobs, because they can't afford the gasoline to get to work.
This can 't be good for Obama (even in a State like California where he has been all but coronated as the winner of the 2012 Presidential Election). Perhaps, suggested a friend of mine at the end of the workday, "The oil companies want Mitt."
One thing is for sure, gas prices affect everyone, rich, middle class, and poor alike. If the trend becomes national, it could spell trouble for the Obama Campaign.
Local television news says that relief in prices may come as early as Wednesday, but don't expect the price per gallon to dip back below $4.00.
-- Political Pistachio Conservative News and Commentary
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