A friend just stopped by a little earlier, a little exasperated du=e t the fact that, where we live, the average price of gasoline is now $4.50 a gallon. That may cause some to laugh at the predicament but energy costs are becoming a factor all over the country. It’s not just California anymore, but little old Arizona, where I live. And if it’s $4.50 here in Tucson, You can bet in outlying cities and towns it’s over $5.00 a gallon. What has caused this to occur? Aren’t we a “net exporter” of oil and natural gas?
Of course the price of oil is set in world markets, not just for the United States so the price of a barrel of oil is not determined ow much ant country produces locally. LIke all commodities, it’s based on demand. In this case, worldwide demand. Or at least a prediction of the demand will be based on historical levels as well as the economic forecast. Right now? That economic forecast is based on the conflict with Iran and the uncertainity of the safety of usingthe Hoe=rmuz strait, which 20% of the worlds output of oil usually traverses. Not anymore. Well, at least not since February 28, when the U.S., along with Israel, launched a war against the mullahs in Tehran.
Currently, the price of oil has dropped below $80 dollars per barrel and an analyst on TV earlier said that, based n the current event with Iran, could be as low as $58 per barrel by the midterm elections. Of course, the Republicans are seriously concerned about the up coming elections because pretty much every poll says that they would probably lose the House for sure this fall based on the current economic conditions – which are overall pretty good, but people aren’t feeling that way – and maybe lost the Senate as well which would make Trump an Executive without any power for his last 2 years. It’s been over a year and a half since Trump took office and he can either take credit for the good part of the economy or stop blaming Biden for the bad parts. You either own it all, or none of it.
The relly scary prt are the neocons out there, all over TV that want the president to end this conflict with Iran. And by “end” it they mean bomb Iran into the stone age. Start by reduce Kharg Island (where 90% of Iran’s oil is shipped from), then take out every electrical, gas, and water utility, along with other major infrastructure. for sure, they say (and somehow believe) rubbling Iran will bring the voters back. This is what’s left of the legacy of Ronald Reagan, who, by the way, didn’t start any major conflicts and spent a lot of time negotiating directly with our greatest adversary, the Soviet union. I think some of these people are demented.
Their day is over. Trump, I believe, made a mistake listening to whoever it was in his administration that convinced him attacking Iran this year would be a good thing. He miscalculated. Those in his administration that helped to convince him to make this move should be out on the street. Now. No, I don’t believe the conspiracy theory of Israel blackmailing him into war. Seriously. Trump? The neocons are the Deep State and the sooner they are routed out of government overall, the better we will all be in time.