The average prices of a gallon of gas and a barrel of oil are near 150-year highs. Most pundits expect them to go higher. Are you ready for $5-per-gallon gasoline?
As gas prices loom near the $4-a-gallon mark, the Obama administration has been hit with a public outburst that could prove politically lethal. And while the President is quick to emphasize that he does not favor high gas prices, his administration is toting heavy baggage in the area of energy policy.
A heated issue now being debated amongst President Obama, congressional members, and the general public is the tumultuous rise in gas prices that Americans are now faced with daily. House Republicans have ramped up efforts to expose Democrats and the President for their purported resistance to oil development and energy independence.
As gasoline prices approach (and in some places exceed) $4 a gallon nationally, the president appears to be taking much of the blame with two recent polls showing sharp declines in support for his handling of the issue.
The continuing boom in North Dakota seemingly has no end. Last June oil production from the Bakken Formation exceeded 11 million barrels a month. In February it reached 16 million with estimates that by late spring North Dakota could be producing more oil than either California or Alaska. That’s more than double what the state produced just two years ago.
“Somehow we have to figure out how to boost the price of gasoline to the levels of Europe,” said Dr. Steven Chu, director of the Lawrence National Laboratory, in an interview with the Wall Street Journal in September 2008.
While President Obama travels around the United States touting “green energy” as the solution to the nation’s spiraling energy costs, the wind farms of the Pacific Northwest are proving once again that alternative energy sources are having a hard time living up to the praise lavished on them.
“I can tell you the right course for America with regard to energy policy is to focus on job creation and not global warming.” — Mitt Romney, November 2, 2011
To purportedly tame the progressive rise in gas prices, President Obama visited a North Carolina truck manufacturer on Wednesday to unveil a new $1 billion plan to advocate electric and alternative vehicles through consumer incentives and federal grants for states.
The Obama administration continues to deflect blame over soaring gas prices, and conservatives and congressional Republicans have been quick to excoriate the President for his costly environmental measures. President Obama’s energy policies, critics allege, have prompted not only an increasingly heavy burden at the gas pump, but also are shaping a progressive rise in Americans’ electric bills.