Pittsburgh, Pennsylvania – April 2, 2012 –
President Obama talks about gasoline prices, how the United States uses 23 percent of the world’s petroleum with only 2 percent of the world’s population. Even these figures are questionable. The United States has over 200 years of potential petroleum supplies. Barack Obama tells how he is the poor victim, and has little or no control over gasoline prices.
As Paul Harvey said, “The rest of the story”: I like peanuts and peanut butter. The price of peanuts has gone from $450 a ton about a year ago, to $950 a ton now. At that rate the price for peanuts could go to $1,900 a ton by the end of 2012, $3,800 a ton by 2013, $7,600 by 2014, $15,200 by 2015, and $30,400 by 2016…which will be President Obama’s last year, if he is reelected. A small container of peanut butter was $1 a year ago. The same size container of peanut butter is now $1.69. The price of a container of peanut butter could be about $32 at the end of 2016…if the country can survive the big spenders that long.
Corn, wheat, and grain are in a lot of food. The price of corn was about $3 a bushel about a year ago…now, it’s $6 a bushel. I bought Great Value corn chips for $1 a bag for several years prior to this year. That same bag of corn chips is $1.69 now. The price of that same bag of chips could be around $27 at the end of an Obama term in 2016
It’s hard to tell what prices will be under Liberals and President Obama. One thing is nearly certain: Liberals will have kind words for whatever happens, even if they have to share in the misery.
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Paul A. Rahe holds the Charles O. Lee and Louise K. Lee Chair in Western Heritage and is Professor of History at Hillsdale College. He earned his Ph.D. from Yale University and has taught at Cornell University and the University of Tulsa. He blogs on