Thanks, Obama, for lower gasoline prices
The Kansas City Star
Republicans are upset that Barack Obama has been president while gasoline prices have soared.
Mitt Romney in the second debate attacked Obama on the issue, pointing out Americans were paying higher prices for gasoline in 2012 than when Obama took office in early 2009.
Gasoline prices have been falling around the nation for more than the last two weeks.
Take a look at KC area stations, where regular fuel at my corner Valero was selling for $3.16 a gallon Thursday night.
That’s down from the $3.70 average mark in Missouri stations in late September - for a hefty 15 percent decline.
So give a big hand to Obama for getting those gasoline prices down, just in time for the election.
What’s that? The president doesn’t really have much control over gasoline prices, contrary to what Romney and other Republicans often contend on the campaign trail?
You mean - I’m being sarcastic???
Yes, it’s true. Global competition and global production have a great deal to say about what happens on the world gasoline/oil market. Drilling in the United States has a minor role to play in the matter.
Throw in the weather - which can shut refineries down for days or weeks - and the politically powerful in Washington really have little say over the price of gasoline in the United States.
That includes Barack Obama.
It will also include Romney. If he gets elected, he will immediately stop talking about what he can actually do to reduce oil prices.
Just look at what happened when George Bush was president.
Gasoline prices were above $3.70 a gallon by late summer - yet fell by more than $1.30 or more than a third - by Election Day.
That’s largely because the economy tanked and the stock market swooned during that time and into early 2009, thanks in large part to the failed policies of the George W. Bush administration.
So when Obama took office, gasoline was at nearly its lowest in a long time, largely because demand had fallen and no one yet knew how badly the recession was going to financially damage America.
That’s why it’s so funny to hear conservatives talk about what the price of gasoline was when Obama took over: He and his policies had nothing to do with getting the price that low. And frankly, he and his policies have had very little to do with getting it so high in the subsequent years - or with forcing it down in recent weeks.