Is Inflation Driven by Oil Prices?

United States
April 28, 2011 6:34pm CST
"It's oil prices, and unlike some past spikes, this one will continue to affect the whole economy" says Money Magazine out loud! - http://money.cnn.com/2011/04/27/pf/velshi_inflation.moneymag/ Now you, too, know why the US and allies absurdly attacked Libya and are in oil-rich Middle Eastern nations killing and being killed!
1 person likes this
2 responses
@suspenseful (40316)
• Canada
29 Apr 11
You forget that the environmentalists and Obama are not allowing drilling in the States and blocking off shore drilling bh their many red tapes. So they hold much of the blame and remember Obama wanted America to have high gas and oil prices. So he and he hold much of the blame. I did hear that there is a large supply of oil in the States and if they opened the wells, there would be no need of imports.
• United States
30 Apr 11
Suspenseful, I did not forget anything. There are several alternatives that could be investigated and exhausted. People should never be sacrificed for mere material wants.
1 person likes this
@suspenseful (40316)
• Canada
1 May 11
I do not want to live in my city and not be able to go anywhere else, even to another town for a vacation. I do not want to live like they did in the 30s and live like a very poor person. I think the former is what Obama wants for most Americans, except for him and his croonies. As for material wants, we do have computer don't you? The trouble with these alternative energy sources are that they do not apply over the board. For instance if you have a lot of wind you can have wind energy, if the sky is sunny for a good part of the time in your area, you can use solar energy. Of course, you can use coal what people used a long time ago. Ethanol ruins motors faster then using gas for cars and it raises the price of food as much of it is from corn. And I am sure there is someone who wants to make it from all the grain crops, since I do love oats, and rye ---well that would not be any good. And for the conversion process, it costs a bit to change from a gas powered engine to that fueled by electricity. And many cannot afford cars even now. And I am sure that there are no used hybrid cars in the market.
• United States
1 May 11
Suspenseful, very funny! Just how is Obama or anyone going to stop you and I from traveling? Chain us? While I am aware that in Texas, at least, we are being encouraged to ride metro which is now leading to mandatory registration of bus Q-card for obvious tracking, smart people like me still refuse to register Q-card and do not use a Q-card for more than two weeks. Suspenseful, please stop getting yourself all worked up over nothing from listening to republican propagandists! You do not have to live like people did in the 1930s and you do not have to "live like a very poor person". Poverty, by the way, my dear, is in the head: You are only as poor as you choose to believe. Besides electricity, wind, solar, recyclables, etc., Ford proposed alternative fuel for vehicles years ago that was suppressed by legislators in Ford v. Rockefeller. And, murdered scientist Eugene Marlove was a strong proponent of cold fusion and he believed we are at the stage where electricity could cost just pennies per month.
1 person likes this
@sierras236 (2740)
• United States
28 Apr 11
Inflation is driven by the Fed dumping too much money into the system and not taking enough back out. The oil could be "fixed" by more home supplies and less reliance on the Middle East. But let us not forget the illegal moratoriums that are in place. NO. SOLAR AND WIND IS NOT THE SOLUTION. They are far too expensive and not very efficient as far as energy production goes. The Fed controls inflation by raising interest rates which they haven't done.
• United States
30 Apr 11
Additionally, nations with high demand for oil as fuel can simply learn to utilize other sources of energy. There are several alternatives to this "problem." Did you know that Ford had proposed an alternative fuel for vehicles that was suppressed by Rockefeller with help of our legislators?