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Obama facing heat on rising oil, food costs
The Gazette Opinion Staff
Jan. 22, 2011 8:04 am
President Obama and the Democrats might be facing the biggest political and economic crisis this year. Due to OPEC and oil-producing countries getting back their control of oil production after the crash of the world economy, oil prices are rising even though the United States has continued to reduce its oil demand. People should now realize that reducing demand for oil only has a temporary affect on the pricing of oil by OPEC.
Will the Democrats push for the government to do something as they did under George Bush or continue policies that appease environmentalists and help OPEC by restricting our ability to produce and use our own oil?
Food prices are on the rise again. This is mainly due to weather problems over which politicians have no control, except to blame it on carbon dioxide-caused climate change. If people have to spend hundreds of more dollars a month for food and fuel, the housing market will continue to collapse and employment increases will be eaten up by higher production cost.
When Obama and Democrats took over, they were aided by collapsing fuel and stable or lower food costs. They have the reverse effect working against them this time. Plus, they have used up much of the bag of tricks, such as lowering interest rates. Obama's pledge of alternate energy sources to lower energy costs has failed.
Larry Conrad
Walker
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