Another Triumph for The Money Party

Michael Collins

The average price for a gallon of gas rose 30% from $2.69 in July 2010 to $3.49 as of March 6. Most of that 30% has come in just the last few days.

We're about to embark on another period of let the markets take care of it. The Money Party manipulators are again jerking citizens around in the old bottom-up wealth redistribution program. Their imagineers are writing the storyline right now.

The conflict in Libya is causing the spike in oil prices over the past ten days or so according to the media script. Take a look at the chart to the right. Can you find Libya among the top fifteen nations supplying the United States with crude oil?

Why the Current Panic Over Gas Prices?

The general explanation points to the crisis in Libya as the proximate cause. The anti Gaddafi revolution began in earnest on February 17. But if the Libyan revolution were the cause, we'd have to attribute a 50% drop in a 2% share of the world's oil supply as the cause of the panic. We would also have to attribute the increase in US gas prices to a nation that doesn't impact the US crude oil supply and, as a result, should not impact the price of gas here.

By Numerian

Nobody knows, which is precisely why leadership everywhere is addled and uncertain how to respond. What they should most fear, however, is someone who connects together the riots in Greece several years ago, the demonstrations in Iceland, and the events throughout the Middle East, with the protests in Wisconsin, and who then draws a picture which makes sense and which everyone can understand.

Driving in from the airport to the center of Tripoli, as you pass Pepsi-Cola Road and approach the old city, you see one billboard after another featuring Mohammar Qaddafi. He has different guises, depending on whether he wishes to be Col. Qaddafi in military uniform, or tribal Qaddafi in flowing robes, or religious Qaddafi in the turban and cloak of an imam. Overlooking the central square is Qaddafi the modernizer of Libya, sporting brownish-yellow sunglasses that might have been stylish in 1969 when Qaddafi first came to power in a military coup, but today give him the appearance of trying too hard to be young.