Average gas prices in the U.S. are up 6% in the last month. In Philly they are up 9%. You don’t hear the MSM cackling about the falling prices anymore. I’ve pointed out before that the most important factor to people who live in the real world and have to fill up their tanks every week is the average price over time. Has anyone in the MSM mentioned that gas prices over the first half of 2012 were the HIGHEST in the history of our country? Remember 2008 when gas prices spiked and sent the country into recession? Gas prices in 2012 have been 7% higher than 2008 over the first six months, and prices continued to rise in July. The three highest priced years in history are as follows:
2012 – $3.69
2011 – $3.54
2008 – $3.43
If you don’t believe me, examine the data for yourself:
I’m sure glad Ben Bernanke isn’t worried about inflation. He must be chaufeured in a hybrid limo. Now for the critical thinkers out there. Gasoline demand has plunged in the U.S. and Europe since 2008 as we’ve both been in recession for most of this time. The Saudis are pumping as much oil as they possibly can. The miracle of Shale Oil in North Dakota will make us energy independent according to the pundits and shyters. How can all this be true and oil is still $91 per barrel and we are paying the highest price for gas in history? Is it those evil oil companies and energy speculators? Or is it peak oil manifesting itself over our lives?