Tuesday, April 26, 2011

Gas Prices and Oil Companies - #2846 - VIDEO: Who Gets the Blame for High Gas Prices? - Hot Air (2) Oil Slips as Dollar Gains, Gasoline Up for 34th Straight Day to $3.86 gal.-Yahoo (3) Euro Strikes 16-month High Against Dollar - Breitbart (4) China Sends Warning on US Debt, Dollar - Hot Air (5) Gold Hits New Record as Dollar Expected to Tumble-The Blaze (6) Obama Claims Air Pollution from Coal 'Creating Asthma for Kids Nearby' - CNS News (7) Coffee Prices Hit 34 Year High - CBS Chicago





Who Gets the Blame for High Gas Prices? - Hot Air - Over the weekend, Barack Obama attempted to lay the problem of high gas prices at the pump at the feet of Big Oil. In his weekly address, Obama blamed “speculators” and scolded oil companies for taking $4 billion in “subsidies” while gas prices spiral out of control:......In other words, it’s somehow the fault of the oil companies for taking the “subsidies” (more accurately, tax breaks on exploration and extraction) while having to buy oil at the market price. At the same time Obama tells us that the subsidy mentality has to stop, he demands even more subsidies for energy resources that have been floated by government money for decades while failing to reliably produce on a large scale, or even unreliably on a large scale. If we want to consider tax breaks as subsidies — which is not unfair to do — and argue for more subsidies, then let’s consider which subsidies make the most sense. This chart from Reason TV shows which energy subsidies are most efficient at actual energy production:  Read more.........

More News on the Dollar:
Oil Slips as Dollar Gains, Gasoline Up for 34th Straight Day to $3.86 gallon - Yahoo News -The price of crude oil was stable Monday, dipping one cent to settle at US$112.28 per barrel on the New York Mercantile Exchange as the U.S. dollar pulled back from lows set earlier in the day.  In London, Brent crude lost 33 cents to settle at $123.66 per barrel on the ICE Futures exchange.  Oil is priced in U.S. dollars, so crude tends to fall as the greenbak strengthens and makes crude more expensive for investors holding foreign money.  The U.S. dollar has been weak because investors think the Federal Reserve will continue to keep interest rates near zero when it meets Tuesday and Wednesday. Rock-bottom U.S. interest rates make the dollar less attractive to investors.   Read more.......

Euro Strikes 16- Month High Against Dollar - Brietbart -  The euro struck a 16-month high against the dollar and the Swiss franc notched a record high versus the US unit Tuesday amid heightened investor nerves over this week's busy economic calendar.  Read more........

China Sends Warning on US Debt, Dollar - Hot Air - The debate over whether to keep borrowing trillions of dollars may have been mooted on Friday. China sent out strong signals at the end of last week that it would retreat from the dollar and perhaps start to unload its reserves sooner rather than later.  Read more........

Gold Hits New Record as Dollar Expected to Tumble - The Blaze -  Gold hit another record in trading on Monday as the dollar is expected to tumble against other currencies, CNBC reports.  Gold hit $1,517.71 an ounce, before easing to $1,515.65, up 0.8 percent, says CNBC. U.S. gold futures also rose to an all-time high, at $1,518.6 an ounce.  Read more........

Obama Claims Air Pollution from Coal 'Creating Asthma for Kids Nearby' - CNS News -  President Barack Obama claimed that coal could create "the kinds of air pollution" that is "creating asthma for kids," in speaking at a town hall event in Annandale, Va., on Tuesday. However, the National Institutes of Health says that “the exact cause of asthma isn’t known” and that “asthma is different for each person.”  Read more........


Coffee Prices Hit 34 Year High - CBS Chicago - That morning cup of coffee is going to cost you more.  Coffee prices are at a 34-year high — $3 a pound.  Read more.........

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