Neil Cavuto: Gas Prices Aren’t Rising – The Dollar Is Falling

Despite record gas prices Democrats killed another Arctic drilling project this month. This came after Obama’s recent move to reject the Keystone pipeline project. US gas prices at the pump have doubled since Obama took office.

Gas Buddy

Neil Cavuto blames high gas prices not so much on Obama’s failed energy policies as on his failed economic policies and record spending.
Your World reported, via Lucianne:

Enough. This whole, blame the evil oil companies for this gas spiral. Enough. People who know better sounding like they have brains made out of butter. I’ve heard the prattling on, now time for some basic facts to sink in. Gas prices aren’t rising. The dollar is falling. Let me explain that. Oil is priced in dollars. Dollars are getting cheaper. It takes more of them to buy oil. So oil gets more expensive. Gas gets more expensive. Traders can gun that. Some can try and capitalize on that. Make bets on that. But that….is that. Finite product.

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  • FurryGuy

    The falling dollar is something I’ve been noticing for quite some time. We are being actively impoverished by the deliberate looting of the Treasury by this corrupt and criminal administration.

  • Mitch Rapp

    NEIL CAVUTO for PRESIDENT and ADMINISTRATION STAFF! Why can’t we have Neil Cavuto SMARTS in the WHITE HOUSE instead of a Socialist, Vacationing President?

  • Mitch Rapp

    Falling dollar, collapsing economy – That is Obamanomics in ACTION

    Just ask the Ghost of ALINSKY!

  • MoreLiberty

    Finally someone else is talking the truth. I’ve noticed other blogs that are discussing the price of oil/gas, but that is only a symptom of our weak dollar.

  • forest
  • No Man

    Inflation is the cruelest tax. It hits everyone.

    They will need it to pay the $100,000,000,000,000.00 in pay-offs, er, entitlements to the 100,000,000 illegals they will bring in over the next 30 years.

    Michelle Antoinette’s face will be on $100,000,000 bills.

    I keep telling you people: buy gold and guns.

  • greenfairie

    That’s exactly it. A strengthened dollar, more domestic reliance on resources (not pie-in-the-sky science fiction “resources”), loosened regulation, and lower taxes on gasoline would bring prices back down.

  • MoreLiberty

    “Falling dollar, collapsing economy – That is Obamanomics in ACTION”

    This isn’t just Obama, it’s the establishment which also consists of RINOs and other big government Republicans.

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  • Patty

    Madoff invested charities contributed 365 thousand to Media Matters

  • Patty



  • P. Aaron

    If you have one eye open and that eyeball is watching gold, that in and of itself tells you all you need to know regarding the dollar’s value.

    It’s criminal the way this administration has spent. They have NO IDEA how wealth is created.

  • Patty

    Obama finance Chief funded Media Matter

    Wonder why we are going to Hell in a hand basket. If this administration got us in the pickle we are in with raising gas prices, DEBT, DOWNGRADE, DOLLAR FALLING, HOME FORECLOSURE, AND GOVERNMENT HANDS IN EVERYTHING BUT WHERE THEY SHOULD BE, Drilling, lay off private sectors, stop regulations on Goal, gas, food and start doing your job and stop meddling into every aspect of our life.

    They have no experience but meddling.

  • MoreLiberty

    Most pundits don’t talk about inflation and a weak dollar. For one, they don’t understand it so it’s just easier to say “Drill baby Drill,” and it’s easier to talk about gas prices.

  • Patty

    I don’t believe there are any real economists in Washington.

    The Existential Financial Problem Of Our Time

    The problem is insuperable. More debt has been created in the past forty years than will ever realistically be paid back… which leads us to the existential financial problem of our time:

    The modern, debt-based economy requires constant economic expansion if only to service all that debt. So what happens when the modern economy goes ex-growth and stops expanding?

    Iceland already found out. Greece is in the process of discovering. But we will all get a chance to participate in this lesson.

    Runaway fiscal and monetary stimulus throughout the western economies is in the process of destroying the concept of creditworthiness at the centre of the modern monetary system. Private investors, we suspect, have little or no conception of the extent to which the state is now the predominant player in the financial markets.

    Central banks control the money supply and interest rates. Central banking and commercial banking interests have essentially become fused.
    The ECB’s long-term refinancing operations are banking bailouts by the back door. Central banks are now also the swing players in government bond markets which directly influences the price for corporate credit. Central bank monetary stimulus also directly influences equity market direction and confidence.

    Be careful, be very careful about the sort of government debt you hold. You may well end up being paid in whole- but in such depreciated terms that being “kept whole” will be meaningless in real terms.

    In all other respects, our investment choices remain what they have always been: high quality, high yielding defensive equities; uncorrelated systematic trend-following funds; gold, silver, and gold and silver mining companies.

    There will come a point, and it may admittedly be some time in coming, when a major government bond market goes bang. Perhaps Japan, some peripheral market in the euro zone, some core market in the euro zone, the UK, or even the US.

    You will hear the echo throughout the world. We intend to be a very long way away when that time comes.

  • Spider

    Inflation with no growth.

    They gave that a name:


  • democraps suck

    odumbo is laughing…his plan is coming together every day…he is laughing at the repubs….mitt and santorum and laughing….he knows he has the illegal votes, acorn, mooslime brotherhood, soros etc to get re-elected…we are doomed unless something drastic happens

  • Patty

    Obama spent us into 5 trillion in debt.

    Spend us out of this disastrous economy. What does he do, Obama care. Then more money spend of Green. More favors for his contributors. Spend us into a S & P Downgrade.

    And Yes, has he started drilling we would be closer to independence. Now, it will take us a while and hopefully the next president come November will have a great vision for American.

    And community organizers will be sad memory but gone and out of our life.

  • Patty

    Immelt x GE guy. Sending jobs to China.

    President Obama’s Jobs Czar, Jeff Immelt, falls into the first category, unfortunately. His definition of an American product is the same as the US auto industry. To the investor class, corporate America and politicians alike, being ‘American Owned’ is more important than being ‘American Made’. President Obama’s choice of Mr. Immelt as his ‘Jobs Czar’ clearly suggests the President shares the same view.

    But America’s auto workers had a warning – ‘American owned is not the same as American made’. After a little research on their own autos, many Americans were horrified to discover that their ‘American Made’ car was actually made in a distant foreign country like Brazil and assembled in a near-by country like Mexico. At the same time, Americans found out that ‘Foreign’ cars, like Toyotas, Nissans and Hondas, were actually made right here in the good old USA by American workers with good jobs and good paychecks.

    Unfortunately for America’s workers, men like President Obama put their faith and trust in people like Jeff Immelt. And CEO’s like Jeff Immelt admittedly pledge their loyalties not to their country or their countrymen, but instead to maximizing profits for their corporate shareholders. If higher profits come at the price of devastating their country, so be it. As Jeff Immelt has said himself, GE has a second home in China.

    Now remember Immelt sent various parts to Iran, GE parts, they could have been used to kill our troops.

    Here is the sad fact, because of people like this our economy doesn’t have a chance to recover quickly. Our home our workers Our hard work and Our America. NOT what Obama has been doing with regulations and mandates. In China NO regulations, I find this so amazing.

    Thanks Immelt and Obama for literally killing jobs in OUR America

  • Stuart

    P Aaron #12 ” They have no idea how wealth is created.”
    Oh yes they do, and they want to strangle the creation of wealth until the means of production is owned by the state. (state socialism-a.k.a. Communism.)
    This is a deliberate takedown of the USA as a free country. The administration thinks it can pick up the pieces of the wreckage and create a socialist utopia.

  • john b

    It also explains (partially) why the stock market is going up: for example: IBM is worth a “certain” amount. But priced in dollars, as the dollar gets cheaper, the VALUE of the comapny still has not changed. To keep up, the stock price goes up.

  • Militant Conservative

    No man, done and done in page quatities.

    Both in hard assets in my possession, no banks.

    Powder is dry

  • The value of the dollar has been going up and down for decades. It’s something the American consumer has had to adjust to in order to get what they want at a price they can afford. Besides the price of houses and cars that seem to be more attached to “whatever the market can bare” kind of pricing which I deplore, other than those two things it’s everything else that consumer’s see more readily because as the dollar goes up and down they can buy more or less of those things. Gas is one of those things. Neil needs to drive into a gas station and look at those numbers on the pump. Those alone and not a damn thing else will tell you how much you can afford to buy and that’s all. It has nothing to do with the value of the dollar as to how much you can buy. If everyone made the kind of money Neil makes none of us would have to worry about gas going up to $8.00 a gallon.

    Before all this crap started back in the ’70’s, you could fill the house up on $15.00 worth of groceries. It’s not what the value of the dollar was, it was how many of those dollars you had that determined whether or not you were going to be buying cheap fattening salty foods, or good holsom foods that were healthy for you. I’ll tell you how I determine whether or not the dollar can buy more and that is I go by the price of bacon. Bacon has always been a luxury in my home. Towards the end of Bush’s second term after the tax cut really took hold of the economy I could buy two packages of bacon at a time and even a package or two in so many months as well. Now, I can’t afford to buy any bacon and haven’t been since Obama was elected.

    The value of the dollar says that as the value of the dollar goes down you can afford to buy less because the dollar buys less. Is that linked to how much prices have gone up because of economic affects like other things in the economy affecting the price of things, or is because of how many of those dollars you got paid, and after you covered your basic living expences you had less left over? To me it’s that, not the value, it’s how other things in the economy that affect prices and how much I can afford to buy because the price went up, not how much the value of what I have in my wallet buys. That has never affected what I could buy, it was the price, and how many dollars I could afford to put towards getting so much gas in my truck so I could get to work.

    Neil needs to look at prices rise compared to people’s income as the real affect on people being able to cover what they need. It’s the number on the pump Neil, not value or anything else. It’s how many dollars I can afford to put towards how many gallons I can put in my tank. That’s all.

  • lizzy84
  • Buffalobob

    A Canadian company said Monday it will build an oil pipeline from Oklahoma to Texas after President Barack Obama blocked the larger Keystone XL pipeline from Canada. Now for today’s regina’s lie of the day. “Press secretary Jay Carney said Obama welcomed the announcement”.

  • valerie

    Cavuto has a point in that we are not looking a profiteering by gas companies, but poor fiscal policy on the part of our government. However, the government is also operating to restrict the amount of available fuel.

  • retired05

    Comment deleted and user banned for impersonating a fellow commenter. This was not written by retire05.

    Gateway Pundit Administrator

  • #20 Stuart,

    Stuart has got it. All this value crap is just that. I don’t know value from shineola. All I know is how much higher the price has gone since the last time I bought that thing as to how many of that thing I can buy now compared to last time. If I can buy more and the number on the pump is less, that tells me I can get more this time than last time.

    When corporations put “value” on their company stock price, in order to increase “value” that company had to have done something to increase the business power it has. Did they sell more this quarter than last quarter? Can they keep doing that? If they can then they are worth more because the company is making more money now than they were earlier in the year. But can they keep that up? What companies are doing these days is running their businesses on the fly. That means that if this quarter they are doing well, their attitude is, they are going to keep doing well and they price their stock accordingly. The problem is they lie about their “value” or worth, which is their ability to keep making the money they are making now that is more than they were the last time. They act like they can, but what they do that is wrong is the value their stock as if it’s the end of the year and they’ve continued to make all that extra money from increased sales they just had.

    Well, they raise the price of their stock to make the company look better from figures that are real for right now, or from figures they are speculating on, money they might make. No investor knows for sure which numbers those are. Then here comes the truth. At the end of the third quarter the company posts their profit reports and all of a sudden they admit that they didn’t hit their expected high for the year. Ohhh dear. Really?? They knew damn well they weren’t. But did they wait until the end of the year in order to value their stock? No. The value the price of their stock based on pure speculation of sales for the year at the beginning of the first quarter, that’s when they raise the price of their stock so they get this sudden influx of money from stock sales. And that is their only product is selling their stock based on speculation of what their product sales are going to be. They know it’s not going to be any better this year than it was last year, but they raise the price of their stock anyway.

    And do you know what the problem is? People buy the lie and purchase their stock at the higher price, a price that is much higher than it was last year. Is that honest when they report at the end of the year that they didn’t make as much this year as they thought they were going to make? But do they refund all the huge money they made off of a higher priced stock all through the year? No, they keep the money and don’t refund it back to the stock holder. That is dishonest business practices I deplore. That is not the way you do business in America. You make your money from selling things you make, that is unless what you make is stock.

  • MotherMayEye

    must read:

    All 8 chapters are wow. Someone found Obama’s uncle’s personal web site from 2001: web.archive. org/web/20010502173913/ html (close up the spaces in the address)

    BEFORE it was abruptly pulled down just a year later.

    It’s like deconstructing Obama and his handlers: The Clintons (yes Hillary!) and Bushes and organized crime. Turns out Obama even has a Saudi Arabian cousin, Abdullah al Ahmadi, who worked for Saudi Aramco. The MSM is never going to look into this side of his family…it’s up to us to do it.

    Virginia Dunham Goeldner is Obama’s aunt on his mother’s side. This is the story of her family, IN LITTLE ROCK, ARKANSAS. And it all ties into the Clintons and the Bushes, drug-running and bank spying: the Global Mafia.

    There is more from the archive of Cecil Goeldner’s website, at the first web address.

    This is his uncle’s resume, he was a pioneer computer database programmer in core banking technology: web.archive. org/web/20010617175653/ html (close up the spaces in the address)

    For 30 years, he worked in the company that was linked to the Vince Foster and Mena Airport drug running scandals: Systematics, Inc. AND he had his pilot’s license.

    Hillary and the Rose Law firm represented Systematics in the 1970s and 1980s. The Bushes are linked too…like I said, it’s organized crime.

  • And these days you can juggle those numbers you report as profit. You can make your company look great from selling….nothing! What you do is lay off 20,000 people which in turn makes all kinds of money show up on the books. All of a sudden it looks like you just made huge profits from sales. You didn’t sell a thing, it’s manipulation of the numbers. You lay people off all through you company so it doesn’t show up as if you laid them all off from one place. You lay off a few here and a few there, but when you do the report you make it look like you all of a sudden made a bunch of money making the company look like it’s worth more. Then they raise the price of their stock which in turn brings in a lot more money for free, you didn’t have to sell anything and you made a profit. Slick, huh?

    And there are many other ways to show profit without selling anything like WorldCom did by shifting expenditures to profits colume to make it look like you cut your expences and made money. Then you can raise you stock price and here comes the free money. See?

    I’m not saying all big corporations are doing this but the stock holder needs to do their homework and find out what that company has been doing before they buy stock and if they already own stock in some company, they need to keep up with what that company is up to when they see a sudden rise in the price of the stock. What did they just do?

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  • lizzy84

    @buffalobob/#25 commented
    “Press secretary Jay Carney said Obama welcomed the announcement”.

    Press Secretary Jay Carney..enuf said.
    Someone should give him a clown car and a bear suit and one of those funny hats that bears wear.

  • “Dollars are getting cheaper” is one way to avoid blaming who is responsible for this continued rise in the price of gas, that vale of the dollar has nothing to do with. The value of the dollar only is figured when our government sells dollars to other countries, not the price of gas on the pump. The price on the pump is because Obama won’t allow more of our oil to be used by this country. And don’t give me that crap about all oil has to go on a “world market” before we can buy our own oil back. But then somebody else has put a price on it that is a hell of a lot more than what we should be paying for it. Keep our oil here and let us use it first. Then with what’s left over put that on the world market and sell it to whoever wants to buy it. NOT THE OTHER WAY AROUND. WHOSE IDEA WAS THAT TO BEGIN WITH?? That has to be some environmentalist who had that law made up in order to take our oil away from us so we couldn’t use it first. We have the right to use our oil first, not to have some foreigner price it for US? C’mon!

  • Spider

    MotherMayEye, I’m not following the Systematics, Inc. connection?

    I actually worked for that company. They created bank software. The company was sold to Alltel, Inc., another Little Rock outfit, in the late 80’s. The Information Technology part of the company was spun off again after that. The software has survived. I still work on the systems originally developed by Systematics.

    I love intrigue too, I just wasn’t aware of it while I worked there.

  • Doing what I described above is what liberals consider to be “FAIR” for developing countries in the world. See, it is environmentalists who cooked up the idea that we have to put our oil on some unknown “world market” before we can buy it back? What, after some ARAB has put a high price on it, then make us have to buy it back so that it’s “fair” for everyone who doesn’t have the blessing of having their own oil like we do?? I don’t give a damn what’s fair for some developing country to be able to buy our oil cheaper than we have to pay for it when we buy it back?? What the hell is that? And don’t give me any crap, “Well, that’s called, “the way it is!”. I can tell you right now that we are being ripped off big time to be forced to give up our oil just so some other country can have some oil to?? Who does that sound like? Sounds like a liberal to me, trying to create a equal outcome for someone who isn’t doing their share of producing energy for themselves!!

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  • See, the “value” of the dollar is only based on what our dollars are “worth” when we sell them to foreign countries. And what they look at is how a bank looks at your “worth” when you go in there and ask for a loan. The bank looks at how much debt to income you have as to how much you are worth in being able to pay that loan back. The more debt you have the less able you are to pay back your loan. That is the same way our dollar is looked at. When we try to sell dollars the foreign country looks at our debt load. The heavier that load is the less we are able to build value, which is just the way you look at a corporations stock value. Is that corporation building wealth? Are they creating things that people want and that company is able to sell alot of those things?

    Looking at a country, it’s how prosperous the private sector is as to what the money is backed by. Is our dollar backed by a lot of money that is being created by the private sector? If alot of money is being made then the “country” is worth more. But as debt comes up and the creation of private wealth goes down, the less the money is worth.

    Like we are now, the dollar isn’t worth much because the private sector is being buried by the debt the government is creating by continuing to borrow more money to pay for things that don’t cost anything, but to fund stuff that doesn’t work. That is the same thing as a company who doesn’t sell anything anymore other than words of encouragement that they are going to do better this year than they did last year. Then they sell their stock at the beginning of the year so they have all this money to operate on all year. That is what our government is doing. They are selling dollars based on what they claim our debt to income load is going to look like later on in the year. That is why many countries won’t buy our dollars now is because they suspect that they are being lied to. Obama keeps telling people that “things are going to get alot better.” No, they are not. Not as long as the government keeps creating debt by borrowing money to pay for programs that do nothing but create debt. They don’t put people to work, or back to work. They don’t create private sector wealth like in the case of all these “green companies” that go broke as soon as they are given $534 million dollars.

    It’s that kind of debt that is causing our dollar to be worth less than it was four years ago before the Socialist Democrats opened that Pandora’s Box of October Surprise when Freddie, Fannie was exposed to be bankrupt. That angered alot of people who had loaned our government alot of money based on all those houses being bought by people who could pay the mortage continueously. Well, they sold the houses to people who didn’t even have a job, how could they pay the house note? The dirivitives weren’t worth the paper they were printed on and the European banks and international investors were hoping they could get out before the house of cards collapsed. But Barney Frank had more of a surprise for them than he had for us.

    This is what is causing all the “value” of our dollar to not “worth” much if Neil wants to put it that way. It’s a whole bunch of things. But they are all connected. The price of gasoline? We could make that price drop like a rock right now, but Obama is going to keep doing what the environmentalists are telling him to do.

  • Little David Puddy

    Neil is exactly right, but the real problem lies in the fact that while it now costs more dollars to buy things, at the same time, most people like myself are making less dollars. Unless you work for the government off course.

  • Jerry C

    “Gas prices aren’t rising. The dollar is falling. Let me explain that.”

    Says the spider to the fly.

  • ahem

    We have just created trillions of dollars out of thin air via “quantitative easing.” That, folks, is a gargantuan, hidden, tax, reducing the value of your dollars by 50%, even as you are busily stuffing them under your mattress. There’s no place to hide.

    Apparently nobody wants to be paid for oil in de-valued dollars. Who knew?

    For you morons out there, this is all planned by Obama, on purpose. Vote accordingly—if you aren’t blocked form the voting booth.

  • Mandy

    Neil really knows his stuff. Nice to see since that “Harvard graduate” O’Rielley keeps attacking the oil companies as if they are the only ones responsible. His simple minded diatribes are really boring. Go Neil!

  • BS61

    I watch Fox Business way more than Fox!

  • BS61

    #34 Spider commented:

    I love intrigue too, I just wasn’t aware of it while I worked there.

    It’s like my sis who is a programmer at an electric company here and people keep asking about the smart grid and tracking every minute of our electrical usage – not gonna happen, they can barely track your usage to bill you and there is not enough data storage to do it.