EIN News says, "Oil Price Surge Risking Global Recovery, Says IEA Chief The surge in oil prices caused by the turmoil in Libya could derail the global economic recovery, the International Energy Agency's chief economist warned. (guardian.co.uk)".
The surge in oil prices should make President Obama and Secretary Salazar ecstatic with joy. They have been pushing for higher gasoline prices at the pump in order to foster implementation of solar and wind energy. Of course, this is disadvantageous to the American public, but it is one of their ideologies and they will pursue it to the end.
The speculation that the higher oil prices might also risk global economic recovery should also make President Obama happy. One of his other ideologies is to redistribute world wealth. Of course, this again would be to the disadvantage of the American public, but it is another of his ideologies, which he may pursue to the end. The only possibility of a change in that ideology is his desire to be elected for a second term in office.
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