Representative Ron Paul (Presidential Candidate) - TX.
Texas Straight Talk Newsletter
Oil prices are on the minds of many Americans as gas hits $4 a gallon, and continues to surge. How high can prices go? How can we solve these problems? What, or who, is to blame?
Part of the answer lies in understanding bubbles and monetary inflation, but especially the Federal Reserve System. The Federal Reserve is charged with controlling inflation through interest rate manipulation, however, many fail to realize that creating money, and therefore inflation, is really its only tool.
If the Fed continues with its bubble blowing policies of the past, the new commodities bubble will continue to grow, gas prices will continue to go up, as the value of your dollars go down. We will see an overinvestment in these commodities as solutions are desperately sought for a supply shortage, which is only part of the problem. Make no mistake, though, this is not the free market at work. Government manipulations have added levels of complication and unintended consequences to the marketplace.
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Iran has stopped selling its oil for U.S. dollars, the Iranian ISNA news agency said on Saturday, citing the country's oil minister. Iran's oil minister explained "the dollar is no longer a reliable currency." 
So as heating oil prices hit record levels and the sound of oil furnaces kicking in becomes more frequent, plenty of people are worrying about whether they'll be able to scrape up enough money to keep warm. "It's not just low-income people who are fearful. It's the working couple or families who are now going to have to choose between heating