I don’t know about you, but I’m getting a little tired of all the hooh haw ooga booga about gas prices soaring in 2012.
The whole case revolves around two items of conventional wisdom: An improving economy (insert laugh tracks here) and Iran closing down Hormuz (they don’t have the iron).
Of course, the paranoia is just that, paranoia. But any and every faked up unemployment stat the media trumpet in order to push the well tanned chatterbox to a second term, and every idle threat on the part of Ahmadinejad, will be a convenient excuse for speculators to bid the per barrel futures of crude sky high.
The only silver lining is that if gas prices start with “4” everywhere on November 6, then bye bye Barry.