A Barrel of Oil: $108 and Rising

Gas prices are taking control of the entire consumer marketplace.  As the nightly reports indicate, almost daily the price of a barrel of oil breaks the record cost set the day before.

The rise in gas price is reflected at the gas pump, now nationally averaging well over $3.00 a gallon.  That’s up $.95 over last year this time.  But, it isn’t just the cost to get to work that is going up.

While jobs are vanishing, 85,000 so far this year, the cost of feeding the family is hitting everyone harder and harder.  Eggs have gone up 40% over last year this time.  The price of a loaf of bread is up 11%.  And, the rise continues.

Recently, in a press conference President Bush sounded taken aback when one reporter suggested that by all indications gas would reach $4.00 a gallon by the end of the year.  Of course, at the rate it is rising now, it could be by the end of the month in some areas. 

The President continued to deny the word “recession” when speaking of the economy.  We all know that while you and I know the recession is here, those with the numbers and statistics won’t know until it’s almost over.  Of course, they don’t have to worry about getting to work or feeding the family.

When asked about what we should do about the energy crisis, President Bush said he had asked the oil producers to produce more.  They denied his request.  Response:  The President said he was “disappointed.”

Well, now he knows how most of us feel about many of his decisions.


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