Coming soon: $6/gallon gasoline

Someone please tell me I am having a nightmare thinking about this type of scenario: 5 years after invading the 4th largest oil producing country in the world our own country WILL HAVE NO OTHER CHOICE but to declare martial law within it's own borders WHEN Israel attacks the nuclear facilities in Iran and Iran retaliates. I know there are those who think it sounds like a conspiracy fantasy. However there are many of you reading this who have or are presently studying political science and would be able to say this scenario cannot happen or one had better start stocking up on tuna and such because it sure as hell could. Please tell me that if that happened the price of oil will not hit $300 per barrel by that same nights end. I beg you. Tell me that can not happen and please explain why it would not.

Today's spike in crude oil prices is driven by a stock market short squeeze on amateur commodities traders who took out short positions on oil futures through falsely believing crude oil prices were about to fall. This announced decline in gasoline supplies caught amateur shorters by surprise and now they have no choice but to buy to cover their previous short positions which is resulting in this sudden spike through professional commodities traders effecting a market short squeeze, at the expense of all peoples around our world. This is nothing more than continuation of Wall Street greed and big oil company greed. Welcome to the world of George Bush and Dick Cheney. True value of a barrel of oil is somewhere in the $50 to $75 range. Additional price of oil above that range is simply greed on the part of the wealthy encouraged and enabled by Christopher Cox, chair of the Securities and Exchange Commission, and other regulatory officials who are turning a blind eye to unlawful stock market (commodities market) manipulation of prices. This ability to "legally" steal from American families and other families of our world is a direct result of pseudo- criminal conduct by Bush and by his administration. These prices of crude oil cannot rise too much more. America is at the breaking point now. Per gallon price of gasoline is exceeding what average American families can afford. A majority of American families find themselves at price per gallon of gasoline which they simply have no money to pay. This is exasperated by a skyrocketing inflation rate which is fueled by crude oil prices. Our true current inflation rate is around 7 percent to 8 percent but is reported by our government as being less than half the true inflation rate through manipulation of numbers and formulas to estimate our inflation rate. Other words, our government continues to lie to us. Our American economy is in a downward death spiral, which cannot be stopped, because of greed and corruption on the part of the wealthy, Wall Street and Capital Hill. Of course, despite hatred of America by almost all of our world, our entire world economy will collapse upon the collapse of our American economy. Our entire world is dependent upon America and our economy. Analysts are projecting per gallon gasoline prices of an $8 to $10 range in the future. This is highly unlikely to be sustainable because America will slide into a recession and depression much worse than the Great Depression of the Thirties. Food riots are already beginning to break out around our world, companies like Costco and others are already rationing supplies of grain products, such as rice, here in America. Gasoline at $10 per gallon will lead to basic food prices beyond what average Americans can afford. Food riots will begin breaking out here in America. To close out my commentary, Obama is lying about this "gasoline tax holiday" specifically related to Clinton. Obama claims this tax holiday will deplete our highway maintenance fund. This is a lie on the part of Obama, a rather obvious lie. Clinton plans to provide this gasoline tax relief and replace this money by increasing taxes on big oil companies; tit-for-tat. No money is lost under the Clinton plan but American families do save a little bit of money. Rather annoying to know Obama is willing to lie to America about this for the sake of his winning the nomination. More annoying is knowing Obama intends massive tax increases for lower class and middle class Americans through removal of the cap on salary taxes and a near doubling of our capital gains tax. Obama intends to raise our taxes at a time when we cannot afford gasoline and can barely afford to feed our families and make our home mortgage payments. Obama will raise our taxes during a time we are struggling to simply keep food our tables. This domestic economic policy of Obama will harm America and will hasten our economic collapse. Nonetheless, Americans are voting rock star fantasy rather than voting harsh reality. Clinton offers tough solutions but Americans are not tough enough to vote for Clinton. Okpulot Taha Choctaw Nation

PurlGurl the economist (in addition to political analyst). I've no doubt you're also a geologist and can write 9 paragraphs blaming the earthquake in China on Obama. I pity your empty life, sitting at a computer and dedicating posting 1,000 words/day on this blog site and others, crying to be relevant and significant in your existence through these blogs, aren't you? Had you gone to a decent college, you would have learned how to say in 3 sentences what you now consume 9 paragraphs saying. Poor thing. Seriously, give eHarmony or Match.com a shot. Having a life is pretty cool, you should try it. Good Luck!

GSsport impotently attempts character assassination, "I've no doubt you're also a geologist and can write 9 paragraphs blaming the earthquake in China on Obama." Of course. This insanity of massive crowds at Obama rock star events, so much foot stomping and hand clapping, along with hoots, cheers and jeers, specifically the Oregon event on the edge of our Pacific tectonic plate, created such underfoot seismic waves, created such high energy vibrations, this shot clean through our Earth, rocked this geological conflict between the Indian subcontinent and the Eurasia tectonic plate which, in turn, caused the Longmenshan fault to rip loose leading to a true tragedy for China. Maybe you should reconsider using the death of tens of thousands and the misery of millions of Chinese as a basis for spreading your personal brand of discontent and acrimony. GSsport continues to work at childish personal insult, "Had you gone to a decent college...." University of California. PhD in English, specifically Creative Writing. MS in Education. BS in Earth Science with emphasis on hard rock geology. City College, AA in Cultural Anthropology, emphasis on American Indian studies. State of California, seven subject sets of teaching credentials, primary and secondary. Worked my way through college over twelve years, no student loans like Barack and Michelle. English is not my native tongue. However, my best education is earned through simply being our girl’s mom. Raising her was a heck of an education, my best education of all. How are you doing on the educational front? Okpulot Taha Choctaw Nation

Purl how did you forget to list your PH D in sarcasm?

For those interested in learning truth about our commodities markets, this is a very informative article based upon independently verifiable facts, "The Oil Shortage, and Other Fairy Tales" http://seekingalpha.com/article/78440-the-oil-shortage-and-other-fairy-tales Philip Davis writes a good article which lends well to understanding how our peoples are being ripped off by Wall Street and the wealthy. This gasoline prices crisis is deliberately fabricated. Okpulot Taha Choctaw Nation

Amazing but it was bound to happen, and, I bet those poor, working class whites can't wait for McCain to get in and get them some relief, kind of like Bush, who has to be the worst oilman ever, LOL! Remember everyone, we are praying for purl gurl to seek the mental help she needs. Her life is consumed by this board, so, try and be nice to her, her rants are incoherent at best, like the homeless woman on the street. Next thing she'll be posting is she has an oil derrick in her backyard, and, is on the board of Chevron and is a memeber of the Saudi royal family which gives her insight into the oil debcale than most.

Ooooohhh, it´s soooo terrible for Americans to pay for gasoline less than half of what we pay in Europe (now close to US$ 10 a gallon and counting). We were smart to tax the damned climate changing stuff and use the revenue for developing sustainable energy (25% of electricity in Denmark comes from wind turbines). And we live cuite good, thank you. So we are a bit ahead of you. But we still need one another for the serious times ahead. So please scrap your SUVs and inferior refrigerators, insulate your leaking homes, change your infrastructure living closer to work, rebuild and expand your railways with modern tech, use your bike and get slim and smart instead of fat and dumb.

This Purl Gurl never fails to make it about her. When a poster feels the need to qualify themselves on a blog, that hints to an undistinguished life in the real world. Credible people don't stoop like this. People that have jobs and careers are not inclined to act and behave like your Purl Gurl. You're a desperate figure crying "notice me". Much like R Kelly, you merit being pissed on.

The time will come, quite soon, whaen Americans will wake up to what the French already know. You've got to protest in an organized way if you want real change. I would suggest that at some appointed hour of the day, EVERYONE on the roadway simply stop their cars and thereby bring all traffic to a standstill. Make these protest stops last an hour and then start moving. Do this randomly over the next 30 days. The government will HAVE to listenand take action. The peeople of this country can bring the nation to a standstill if the governemt refuses to act.

Ben you have the right idea. The problem with that is the republicans have convinced working class whites that anything that resembles protest is connected with liberals, gays, and other "minorities". That is why there have not been any major organized protests about anything since the Reagan years. The sad part about it is that if they did they (lower class whites)would scare the shit out of those who rule over them(the republicans).

I'm appauled to see such long comments posted on various articles daily by purl gurl. It sounds like pridefulness. As a seasoned woman of wisdom, I suspect the comments are vying for attention. If there's so much to talk about, perhaps purl gurl should start their own news site.

If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.