U.S. President Barrack Obama has blamed rising oil prices on tensions with Iran, as America is hit with high gas prices and the government is forced to use its reserves.
Obama made the anti-Iran comments in response to Republican criticism of his energy policies, adding that demand from China, India and other emerging economies, as well as Wall Street speculation, has contributed to soaring prices at the pump.
While an attack on Iran or a closing of the Strait of Hormuz would send oil prices through the roof, world tensions are not always to blame.
The U.S. Dollar is being devalued. Its value is going down. Don’t believe me? Just look at the value of the Dollar today compared to what it was 10 years ago. You’ll be shocked.
Because the U.S. Dollar is going down, the oil companies are adjusting the prices at the pump. They just react faster than other U.S. businesses like grocery store chains and retailers. The oil companies have to charge more for gas because the U.S. Dollar is worth less. And those oil companies like getting paid.
That’s my assessment of the situation. How does this affect you? Well, rising fuel costs will increase the cost of food. That’s just the way it is.
Buy your emergency food supply now, rather than later.
Because later you will be paying a lot more for it.