The Middle East, with two-thirds of the world’s oil reserves, is in revolt. Some have blamed President Barack Obama for inciting chaos in Egypt; once an American pillar in the region.
Others have criticized the President for not clamping down on Moammar Gadhafi, the supreme leader of Libya for 42 years, who has created chaos and killed Americans.
The net result is, as the Middle East melts down, oil prices are ablaze: rising from less than $37 per barrel during their 2008 lows to breaking above the $100 per barrel mark. Soaring oil prices impact the cost of all things, from transportation to leisure to foodstuffs.
Read more – Obama Has Sabotaged American Energy Independence