The price of oil (and therefore, gasoline and just about everything else) is up. That's not so good. But I really had to laugh at the hypocrisy of Senator Barbara Boxer (D-Land of Make Believe), who is now calling for hearings into price spikes and "speculation."
In the past, I thought that fossil fuel consumption was "bad." Senator Boxer has been amongst the loudest voices calling for "carbon taxes," and has been a leader in searching for ways to curb the use of fossil fuels.
What does the esteemed Senator from California THINK would happen if her taxes were put in place??? Is she really that ignorant of economics? It seems that, if gasoline prices go to $4 or $5, or $8 per gallon (Think: European-style pricing) due to taxes, that's A-OK. But if market forces somehow result in high prices? Well, that just won't do.
It's one thing if "The Government" get the money to play around with. But private individuals? Ms. Boxer and the nanny-staters have deemed profits to be unsuitable for your use... you're such children, after all.
I truly suspect in this case that Senator Boxer really is dumb, and not just trying to score cheap, political points.
Apparently, in a speech on 15th July 2008 (the last time we saw large price spikes), her mathematical ignorance was on full display, when she offered that "8 years, divided by 2 Oil Men in the White House, equals $4 per gallon."
WELLLL.... now that the White House has two decidedly "non-oil men" (a "community organiser" and whatever it is the Biden was doing when not getting bad hair replacement surgery), how does Ms. Boxer's ratio hold up?
Eight years divided by two "oil" men = $4 per gallon gasoline.
Two years divided by zero oil men equals... Uh-oh...