Why Are Gas Prices High And Who Is Accountable

How much the president had to deal with when he was brought into office plays an important role in determining why the economy is in it's current condition.

When President Obama took office it goes without saying that he took on a daunting job, and it's easy to say that he's at fault for many of the things that are wrong with the economy right now. However it is hard to prove since we really don't know how bad things would have gotten if he hadn't stepped in.

If you were part of the republican party then you're well aware that one of your leading arguments was to place the blame of our current economic situation square on the shoulders of President Obama. Identifying exactly who is responsible for the soaring gas prices we're all seeing is difficult, some place blame on Obama. Personally I find it hard to agree with this approach since the price of gas per gallon was around $4.00 a gallon nearly a year before he was elected as president.

It's impossible to fill up your tank without thinking back to those golden days when gas prices were much lower. It's natural to want to get to the bottom of who exactly is responsible for what's happening to gas prices in our country. If we were to believe Mr. Romney then we would believe that the price of fuel rose by 100% after Obama was elected..

There was an episode of the O'Reilly show where John Stewart expressed similar thoughts as Romney. So is this true? Shortly after these statements were made the argument was apparently settled when Exxon Mobil posted an image online showing a timestamped photo of the price of gas on the day that President Obama took office, they read at near a buck and 3 quarters per gallon.

Is this the final say on why fuel prices have risen so much and who's responsible? No, I don't think it does. It would appear that these results point to Obama as the one at fault for our gas prices. I think anyone who is honest with themselves will realize that this is not the case. While George Bush was in office gas prices rose to above $4 dollars a gallon.

Ok, so how about if fuel rates rose and fell at the same rate in countries all around the world? Is it possible that this might indicate the president is innocent with regards to the rise and fall of fuel rates? It could be true that the military decisions that America has made may have effected the price of gas on a global scale. Bringing unrest to the middle east is a sure fire tactic to influence the price of gas on a world-wide scale.

In prior years Exxon mobile has stated that the price of gas right now is not as bad as it seems if you factor in our currencies inflation rate. Then just a short period of time later they change stories and pitch blame on Obama. Take into consideration the fact that major oil companies are typically multi-national organizations. While some businesses are struggling just to keep their doors open major oil corporations are profiting more than ever before. The real question becomes, who stands to benefit if gas prices continue to rise.

It is a fair estimate that the owners of these major oil companies would benefit substantially if the price of gas were to continue rising. It may be hard to prove that they are to be held accountable for the cost of fuel but they are definitely responsible for the profits being generated. Are they solely responsible? No I don't think they are. If everyone is to prosper then they should be held accountable for the way they run their business. What they are selling can set an entire country at unrest if the prices are too restrictive. Considering the degree to which they profit, this is something that demands consideration and is certainly within their power to change.

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