The Gas Facts

How soon people forget, or how easily they forget when something doesn't suit their rhetoric. Another talking face on TV this morning whining about the price of gas doubling under Obama. Here's what they conviently forget.
    Jan.02 2008- Oil went over $100. a barrel, a new record at the time. The average price of gas was $3.05
    Apr 21 2008- Gas prices jump to $3.50 in parts of the country.
    May 21 2008- Oil prices hit $130 a barrel and the price of gas is over $4. a gallon.
    Jun./Jul 2008 Oil speculation on Wall Street pushes the cost of oil to an all-time high, $147. a barrel. The average price for a gallon of gas is $4.11.
    Sept. 15 2008- The idea of a serious meltdown in the Financial sector is being discussed along with fears of a world-wide recession and the price of crude drops back below the $100. a barrel mark.
    Oct 16 2008 - Continued fear of an economic crisis drops the price to $70. a barrel, less than half its cost a mere 4 months prior.
    Dec. 17 2008- The collapsing Wall Street market and the actuality of a Global recession hit the oil market with a vengance. Oil drops to $40. a barrel and gas prices stand at $1.72. OPEC pulls 2.2 million barrels a day from production, it can't sell it because it has no one to buy it.

    So did the price of gas double under Obama? Yes.
    Was the price of gas way under priced when he took office? Absolutely.
    Today a barrel of oil is going for $104.81, $.37 more than it was exactly four years ago.

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