NetAdvisor™ · @NetAdvisor
12th May 2011 from Twitlonger
#oil #Congress hearing - http://t.co/6jtLuDs I know no one likes to pay more for gas than they have to, but Congress needs to understand that oil companies don't control oil prices.
Oil prices are controlled by the free global market.
They are highly influenced by demand and the value of the U.S. dollar. Oil prices are priced in dollars.
If Congress creates more deficits, the value of the U.S. Dollar goes down, and oil prices go up.
So if Congress wants to be in charge of influencing oil prices they should get the deficit handled and work on lowering it and watch oil prices fall on a stronger dollar.
The problem is, despite repeated Washington rhetoric, the Obama Administration has a weak Dollar policy.
Why?
A weak U.S. Dollar makes U.S. exports more attractive in foreign counties. The problem with that is it also makes foreign imports of everything more expensive in the USA.
You think the Obama Administration really cares about your interest?
If so, why is oil up 170% since Obama took office? http://t.co/mObRdXt
Why are food prices soaring? All traded in Dollars, and the US $ has plunged because of DEFICITS - Not because of "oil companies."
Try not to get distracted from the truth.
Remember this at the voting booth. :)