Pelosi Blames Wall Street For Spike in Gasoline Prices

Rising Gas Prices - IllustrationAccording to House Minority Leader Nancy Pelosi, the nation’s steadily rising gasoline prices are the result of “Wall Street profiteering” rather than shortages in oil.

Pelosi made the statement earlier today. Rising gasoline prices have suddenly become a hot-button issue in the country, as the nationwide average price for a gallon of regular gasoline is already $3.574. This is a worryingly high number considering that we are still in February, and all but guarantees that the nation will have to endure $4+/gallon gasoline prices by the summer. As a matter of fact, some states, including California and Alaska, are already shelling out more than $4/gallon for their gasoline.

The topic of rising gasoline prices is becoming such an important topic that President Obama is expected to address the issue in a speech on Thursday.

Many people have pointed to the rising hostilities between Iran and the United States/European Union are the main catalyst behind the rise in gasoline prices over the last few months (a gallon of gasoline cost an average of $3.22 back in late December). Nancy Pelosi disagrees, claiming that “Republican have chosen to protect the interests of Wall Street speculators and oil companies”, and that these two factions have conspired to lift the price of gasoline throughout the country.

With gasoline prices expected to peak mere months before the Presidential election in November, expect gasoline prices to remain a hot topic over the next 5-6 months. Republican candidates have been blasting President Obama for his “outrageously anti-American” and “pro-environmentalist” policies, and you can expect this to continue over the coming months.

Source: - Dem leader Pelosi blames Wall Street for spike in gas prices

Filed under: General Knowledge

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