Remember how many politicians on the left have said it would be good for oil prices to go up so people would drive less, thus possibly saving the planet. They actually believe that, too.
They rarely, if ever, think about how directly these increases will show up in the cost of food and other vital products.
These are the same people who say they are worried about the poor – the 99%, if you will. And, of course, they don’t mind those cost increases because they think they are safe from the effect. Their income, they think, is high enough to be able to handle this.
They also don’t care or know about the Keystone Pipeline that could alleviate some of the price pressure on petroleum products, not to speak of blue-collar job losses, not to speak of Canadians’ ire over the U.S. administration’s figuratively thumbing our noses at them. In fact, these Luddites are happy about that, too.
They seriously believe that Americans have no right to enjoy a life of freedom, driving our cars to work, church, home and school whenever it is convenient for us. And bus rides will also become more expensive. Another hit on the poor, or the politically-correct people taking public (government) transportation.
You see, these ideologically-driven people rarely think of the consequences of the punishment they desire to inflict on their neighbors. It is, after all, for the benefit of the collective. And only they know how to achieve that “benefit.”
Investment lesson: watch the edges of the news. Here you will find tomorrow’s headlines and market-moving information. While gold prices have been in a narrow trading range of $1700/oz to $1750/oz, crude oil has been quietly creeping up and is now almost $105/bbl.