True, but if you want a historical comparison, you could buy a 16 oz T Bone steak dinner during the Great Depression for $0.25, and when Obama took office, we were on the edge of a second Great Depression. The Dow average was at around 6,500, and today it's a little above 14,000. Since Obama took office, My own IRA has more than DOUBLED and it looks like I may be able to retire and not be in poverty after all. During the "W" Bush years, my IRA gained a whopping 10% in 8 years, which means I lost about 20% to inflation. In the spring of 2000, gas prices were $0.79 per gallon locally, and within 7 years of Bush / Cheney (the two Texas OIL MEN) gas was up to $5.00 per gallon, and it had nothing to do with a booming economy, and everything to do with tens of MILLIONS in "campaign contributions" given by big oil to help elect "W" Bush. Remember when the SH.T hit the fan and Enron suddenly was front page news in every newspaper in the country? "W" Bush, who was in Lubbock, TX on a campaign trip and was about to board the big "Crooked E" jet was asked by reporters about his relationship with Enron, and CEO Ken Lay in particular. "W" was caught off guard and said " UH, Ken Lay?" I don't know any Ken Lay" When more than 80 letters between Ken Lay and "W" Bush were made public under the FREEDOM OF INFORMATION ACT ,OR FOIA, "w" corrected his error when he "mis spoke himself" saying, ONHHHhhhh, You meant KENNY BOY (as if "W" didn't know Lay's last name. Those close to Bush all had pet names. Karl Rove's "TURDBLOSSOM" is my favorite.
So why did gas prices DOUBLE from March of 2000 until November (which angered voters who BLAMED Clinton and "tree hugger" Al Gore for the "gas shortage", and then increase 700% in 7 years under the "STEAL ALL YOU WANT" Bush administration. Gas prices were the fuel which more than any factor led to the Great Recession. Republicans in congress blocked any investigations into price gouging and phony shortages, BECAUSE virtually ALL of THEM are on the Big Oil, Koch Brothers, Coal Lobby and NRA payroll. You don'[t bite the hand that feeds you, or feeds your campaign. #$%$ Cheney hosted a secret meeting with Oil Barons shortly after he and "W" were inaugurated. The oil companies wrote their own energy policy which was adopted by the "W" Bush administration. Among other "benefits" was a liability limit of $75 MILLION MAXIMUM for any damages caused by oil spills, rig fires, refinery explosions, etc.
Obama summoned BP's Tony Hayward to Washington in July of 2011, when the BP Horizon was still spewing hundreds of thousands of barrels of oil per day into the ocean. Obama secured $20 BILLION in escrow from BP to pay for cleanup, THIRTY TIMES the liability limit under "W" Bush's rules. The republicans were on TV the next day spitting nails, saying it was UNFAIR to make BP pay for the cleanup. The cost should have been paid by TAXPAYERS. As crazy as it sounds, IT IS TRUE. Who are these politicians SUPPOSED TO BE WORKING FOR, the PEOPLE of the US or the Corporations who pay for 95% of their campaign expenses?
In Caracas, Venezuela today, gasoline is selling for about $0.15 per gallon, and we are supposed to believe that oil companies are making 8 or 9 cents per gallon profit ? The Venezuelans NATIONALIZED the oil refineries years ago after discovering that the oil companies were robbing the people blind. Gasoline is sold at cost so that the poor and middle class are not spending every dime of their income on energy and health care. They have had universal health care for about 15 years, and their middle class as a percentage of population has doubled in the last 12 years. They have almost $100 Billion surplus in the treasury, they live longer and healthier lives because they have access to health care at a very low cost. Their educational system used to be a 3rd world class system, and they now have a higher literacy rate than the US. When they had a brief recession during the severe Bush recession of 2002-2005, the Venezuelans invested in schools, hospitals and clinics, roads and other infrastructure and they were out of their recession in less than a year.
If it hadn't been for Mitch McConnell's taking care of the Koch Brothers, Big Oil and the Coal lobby, we would now be paying less than $2.00 per gallon because we would have enacted the comprehensive energy bill in 2009 after it was approved by the House. McConnell has filibustered the energy bill 3 times since then, and every time after Big oil knew they would not have to compete with natural gas fuel and renewable energy sources, gas prices spiked up as we recovered from Bush's GREAT RECESION. If we had continued the trend of "W" Bush, it's true, gasoline prices would have been probably less than $0.50 per gallon now, because if we had fallen into a second great depression, most people wouldn't have had two nickles to rub together to buy gasoline with.
We are being gouged on gasoline prices. If we enact the energy bill, big oil will for the first time in history have to compete after their monopoly ends. Rex Tillerson, chairman of Exxon admitted on Meet the Press about a year ago that oil and gasoliine prices were manipulated upwards by "AT LEAST 20%." Life long republican oilman T Boone Pickens says that the Koch Brothers are responsible for high gasoline prices because they paid off congress (Mitch McConnell is all it took) to block competition. By doing so, the Kochs made tens of billions of dollars by driving the demand, and the price, of natrural gas down to about $1.80 per mcf., at least $1.20 below the cost of producing it. They cleaned up because they were able to buy Nat gas dirt cheap and use it in their fertilizer and chemical manufacturing plants, plus they protected their inherited oil refining business from competition from natural gas fuel.
By the way, Since Obama took office, on Sirius XM stock alone, I've tripled my money after "W" Bush's policies led to the near extinction of the American Automakers when they allowed gasoline prices to reach $5 per gallon. Bush had years earlier encouraged the automakers to ramp up production of "gas guzzlers" with his "Bush tax cuts" You could buy an $80,000 Hummer on Dec. 31st if you needed a tax break and write off the ENTIRE $80,000 in ONE DAY. Who Benefited from the Hummer write off, trust fund baby oilmen or ordinary citizens? Why didn't Bush offer tax incentives for buying hybrid, electric, and fuel effecient vehicles instead of 9 MPG Hummers, Excursions, Suburbans, etc.? You COULD NOT PAY ANYBODY to take a Hummer after gasoline prices topped $4 per gallon in late 2005, well above today's prices and in a far worse economy. But don't let my facts make your head hurt too much. Just keep watching that propaganda network which has an FCC license under the category "entertainment." If they filed under "News" they would be in danger of having their FCC license revoked for deliberately LYING to the American people.
By Americans (faux name) I really don't care if gas prices are up. Great for my oil stocks. I also drive fuel efficient vehicles. Prices of gas are higher in Canada, Europe, Australia and New Zealand.