In the Sherlock Holmes story “Silver Blaze,” there is an excellent bit of dialogue between Sherlock Holmes and Inspector Gregory of Scotland Yard, beginning with the Inspector:
“Is there any point to which you would wish to draw my attention?”
“To the curious incident of the dog in the night-time.”
“The dog did nothing in the night-time.”
“That was the curious incident,” remarked Sherlock Holmes.
The curious incident of the quiet dog indicated that the mysterious man who stole the prize racehorse, Silver Blaze, was known to the dog, explaining why it didn’t bark.
In other news, I filled up the car and dropped over $50 to do so. As you can see from the photo I took at the time, the price for regular unleaded was just shy of $4 a gallon at the pump. Right now oil is above $110 a barrel. I remember when gas prices last spiked in the summer of 2008, when then-candidate Barack Obama stated that he would have preferred a gradual adjustment to higher gas prices over the quick rise that happened. Here’s a clip of him talking about this in 2008, with some other news commentaries mixed in.
Did you catch the female reporter around 10 seconds in, stating that the Energy Department was forecasting $4/gallon gas prices for the rest of 2008 and into 2009? Do you remember paying that much? I don’t. I remember oil prices dropping like a stone about a month after this video was posted.
The graph on the top right was generated at metalprices.com showing the price of crude oil for the past five years. See that monster spike in the middle? That’s the same 2008 oil spike that drove up gas prices. Do you see how the price quickly dropped, ending up even lower than the previous low point on the chart? Just what could have caused that drop? Oil hit its highest price on July 14, 2008, the very same day that President Bush announced that he would, by executive order, lift the ban on offshore oil drilling. Beginning the very next day, oil prices began to drop and continued to do so for several months as the market reacted to the news of increased future oil supplies.
Now look at the graph on the bottom right, listing the crude oil prices since President Obama took office. Notice a trend? This is what the market looks like when the President reimposes a ban on offshore oil drilling less than a month after taking office, then places a moratorium on all oil drilling in the Gulf of Mexico. The market reacted to the news of decreased future oil supplies by raising the price of crude oil.
Certainly there are other factors that also play into the rising oil prices, the biggest among them being the increased instability in the Middle East and the increasingly weak U.S. dollar in international markets. There’s no need to blame Pres. Obama for political instability in the Middle East (although others have done so), but I will lay the blame for a weakening dollar solidly at his feet. Pres. Obama and his fellow travelers on the political left have trashed the foundation of our currency with their prolific spending and inability to seriously handle the rising deficit.
As long as our dollar continues to weaken because of shortsighted policies made by liberals in government, and as long as Pres. Obama prevents us from accessing our own energy supplies, the price of crude oil and gas will continue to go up and up and up. In 2008, and in the previous years when gas prices soared, there were multiple news stories each day about rising gas prices and the people affected by them. But this year the same news stories have been few and far between. So what is the difference this time? Why the strange silence from the barking dogs of the news media?
It’s simple. The media is too busy wagging its collective tail at its master, Pres. Obama, to bark at him. And when you understand that, the silence is far from curious.