Lighthouse Report: Fuel Prices Dropping – June 2012


In a testament to the reason why fuel prices get too high, recent drop in fuel at the pump is because:
A decline in imported crude oil
Surge in refinery output

Which demonstrates that the United States must become self sufficient in producing our own crude oil and refineries need either an overhaul to meet the demand or build a new one (or two). In addition, fuel tax must have a percentage cap, lowered to the average percentage of state sales tax and remain fixed. Government – local, state, and federal; must attend to their budget, reduce cost of government rather than continually increase the tax burden upon its citizens and unfairly upon businesses that help the economy and keep unemployment down to the least amount possible.

That can only happen if our government is less intrusive and oil companies change their outlook and practices that cause fuel prices to climb (and remain) drastically.
High fuel costs is the major cause of inflation, for fuel costs that remain high are absorbed into the economic system, which in turn raises prices of food and other essential products; making it difficult for employers to meet the cost-of-living index when it comes to wages and salaries.
And, as a side note:
If the Obama administration thinks this is going to convince the American people that he has performed his job adequately, efficiently, justly, and in accordance with campaign promises in his bid for reelection – he is living in a bubble, like anyone who would believe such propaganda. I am sure that this will be an item to make Obama and company in Congress to look good, in a political attempt to ensure that Americans forget their transgressions.
 
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