Obama is touting the skewed unemployment numbers that have finally broken through the 8% mark after staying above it for 44 straight months. However, it seems that energy policies imposed by the Obama administration are going in the other direction, just as he promised they would.
Over the weekend many parts of the country were experiencing $4 plus a gallon gasoline. On October 5th many California areas were seeing over $5 a gallon and some peaking well over the $5.50 range due to fuel shortages.
The average price has risen for seven consecutive days, including 9.2 cents on Thursday and 5.8 cents on Wednesday, and is now 40.7 cents more than one week ago, 36.7 cents higher than one month ago and 70.9 cents greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The record price is $4.63, set on June 19, 2008.
In some areas of the county, customers are seeing prices beyond $5 after the nearly 20 cents spike overnight.
At one gas station in Santee, regular unleaded gas was $5.59 per gallon. Drivers said they are shocked by the increase.
Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.
Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular.
The gasoline shortage “feels like a hurricane to me, but it’s the West Coast,” Jeff Cole, Costco’s vice president of gasoline, said by telephone yesterday. “We’re obviously extremely disheartened that we are unable to do this, and we’re pulling fuel from all corners of California to fix this.”
Our part of the country did not see these drastic increases in fuel prices. However, it is ominously reminiscent of what took place prior to the 1980 elections between Jimmy Carter and Ronald Reagan. The situation in the Middle East looks very similar as well. The only issue is the number of people on the government dole and out of work. Those are issues people have not fully taken into account in why the numbers appear they way they do in this election cycle.Don't forget to Like Freedom Outpost on Facebook, Google Plus, & Twitter. You can also get Freedom Outpost delivered to your Amazon Kindle device here.