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<blockquote data-quote="UPS Lifer" data-source="post: 1042758" data-attributes="member: 9789">Most of the gas price discussion is from all the wonks Talking Points. Drilling is up - it is down - permits are up - no they are down etc etc.&nbsp; My theory is still because of Obama but only in part because of the moratorium on drilling permits.&nbsp; The middle east still produces 40% + of the world&#039;s oil.&nbsp; Oil is traded in DOLLARS.&nbsp; When you print more $$$ to pay off our debt (Obama&#039;s fault - spend spend spend) then you devalue the DOLLAR.&nbsp; Oil is like a world wide currency and the middle east sheiks won&#039;t allow you to pay for a barrel of oil with devalued $$$ SO they raise the price of oil based on the amount that the DOLLAR is devalued.&nbsp; Our DOLLAR seems strong because the Euro is so weak in comparison but let&#039;s be clear, the DOLLAR is weak because of our economy and debt crisis. If the US enables drilling permits in the Gulf and on land, builds the pipeline and becomes a stronger economy, we will see prices at the pump decrease dramatically.</blockquote>

[QUOTE="UPS Lifer, post: 1042758, member: 9789"] Most of the gas price discussion is from all the wonks Talking Points. Drilling is up - it is down - permits are up - no they are down etc etc. My theory is still because of Obama but only in part because of the moratorium on drilling permits. The middle east still produces 40% + of the world's oil. Oil is traded in DOLLARS. When you print more $$$ to pay off our debt (Obama's fault - spend spend spend) then you devalue the DOLLAR. Oil is like a world wide currency and the middle east sheiks won't allow you to pay for a barrel of oil with devalued $$$ SO they raise the price of oil based on the amount that the DOLLAR is devalued. Our DOLLAR seems strong because the Euro is so weak in comparison but let's be clear, the DOLLAR is weak because of our economy and debt crisis. If the US enables drilling permits in the Gulf and on land, builds the pipeline and becomes a stronger economy, we will see prices at the pump decrease dramatically. [/QUOTE]

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