White House Comments On Surging Gasoline Prices

Tyler Durden's picture

Just when we thought that when it comes to nonsensical announcements Europe is second to none, here comes the White House and takes the cake:

  • WHITE HOUSE SAYS RISE IN GASOLINE PRICES CAUSED BY VARIETY OF GLOBAL FACTORS, INCLUDING UNREST IN SOME PARTS OF WORLD, FAST GROWTH IN OTHERS - RTRS

Uhm, would the "unrestful" parts of the world be those that have an above average US drone presence. At least we know that said price surges have nothing to do with the following chart:

As a reminder, we did note over the weekend that inflation is about to become the biggest concern of "investors" everywhere:

Oddly enough, one very crucial item missing is once again surging inflation courtesy of trillions in stealthy central banks reliquification, sending crude to the highest since May 2011, and the most expensive gas price in January on record.

Sure enough...

Rising U.S. gas prices have been fueled by a number of factors in world markets, including unrest and rapid growth in emerging markets, the White House said on Tuesday.

 

White House spokesman Jay Carney said recent increases in gasoline prices were "clearly the effect of a variety of factors on the global price of oil," including unrest in some parts of the world and economic growth in countries including India and China.

 

"The fact that this is happening only underscores the need ... to have a comprehensive energy policy," Carney told reporters.

 

U.S. gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks energy costs pose to the economic recovery.

 

After rising throughout January, the national price for regular unleaded gasoline in the United States rose to $3.58 a gallon in the week through last Monday, according to the Energy Information Administration. It had started the year around $3.32 a gallon.

The people demand more Solyndras!!!