Yesterday oil settled at over $112 a barrel. Won’t be long until that translates into $4.00 a gallon at the pump. There are two factors that explain why oil is heading north, and both can be laid directly at the feet of the current administration. First, the ideologically driven Democrats fervently believe that higher prices at the pump will eventually cause the American public to give up their love for a nice ride and begin driving Smart Cars and bicycles to work. Thus, the deliberate efforts to throttle oil production here in the United States has the effect of increasing our dependence on foreign supplies. More importantly, the deliberate devaluation of the U.S. dollar by the current administration directly results in increasing oil prices. The dollar hit a new low the other day. At the same time, oil is spiking. The relationship is not symbolic. Know this--the price of oil reflects the value of the dollar. It is simple arithmetic, and has nothing to do with supply, demand, wars, uprisings and any number of mumbo-jumbo reasons for oil to spike. Oil is going up because the dollar is going down. And Bernake and Geitner and Obama are doing it on purpose, because the only way out of our massive debt is through devaluation. They call it “quantitative easing”. I call it the road to disaster.