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United States News
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Title: Gas up $1 a gallon on the watch of the worst President in history
Source: washingtontimes.com
URL Source: http://www.washingtontimes.com/news ... r/25/gas-up-1-on-obamas-watch/
Published: Mar 26, 2010
Author: Stephen Dinan and Kara Rowland
Post Date: 2010-03-26 12:53:11 by dont eat that
Keywords: None
Views: 222
Comments: 3

Gas prices have risen $1 since just after President Obama took office in January 2009 and are now closing in on the $3 mark, prompting an evaluation of the administration's energy record and calls for the White House to open more U.S. land for oil exploration.

The average price per gallon across the U.S. hit $2.81 this week, according to the Energy Information Administration. That was up from $1.81 the week of Jan. 26, 2009, just after the inauguration, and marks the highest price since Oct. 20, 2008.

John B. Townsend II, a spokesman for AAA Mid-Atlantic, said price increases are a result of the cost of crude oil, thanks to a decision by the Organization of the Petroleum Exporting Countries not to raise production even as economic growth in countries such as Russia and China spurs more demand.

"From all indications, we're going to see $3 gas again this summer," he said.

The Obama administration also blames the market for the high prices and argues that its record for expanding energy development has been solid over the past year.

"The prices are set by the world market," said Kendra Barkoff, a spokeswoman for the Interior Department, which manages federal lands that would be leased for oil exploration.

Gas prices have been on a roller-coaster ride over the past decade, dropping to near $1 after President George W. Bush's first year in office, crossing the $2 mark in 2005 and reaching $4 in June 2008 before Congress and Mr. Bush took action, lifting presidential and congressionally imposed moratoriums on expanding offshore drilling on the Outer Continental Shelf.

Mr. Bush lifted the presidential moratorium in July that year. The congressional moratorium expired Sept. 30, and prices fell precipitously, dropping more than $1 in October.

"The reason that it dropped is because the U.S. sent a signal to the markets, by dropping the moratoria, that we're going to drill on our lands. Obviously, we never followed up, and thus you see the crisis gradually rising," said Rep. Doc Hastings of Washington, the ranking Republican on the Natural Resources Committee.

He said the solution is the same for both the short-term and long-term prices: Assure the markets that the U.S. will pursue domestic exploration.

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Begin Trace Mode for Comment # 2.

#1. To: Anyone Who Is NOT Obsessed With Obama's Race (#0)

Gas up $1 a gallon on the watch of the worst President in history

We remember when Boy Blunder was in...we don't need the reminder...

And gee...feel free to tell us how we'd be better off with the GOP back in power...

[snicker]

war  posted on  2010-03-26   12:58:31 ET  Reply   Untrace   Trace   Private Reply  


#2. To: war (#1)

feel free to tell us how we'd be better off with the GOP back in power...

Maybe you should read the article before you post your prattle.

--

Mr. Bush lifted the presidential moratorium in July that year. The congressional moratorium expired Sept. 30, and prices fell precipitously, dropping more than $1 in October.

"The reason that it dropped is because the U.S. sent a signal to the markets, by dropping the moratoria, that we're going to drill on our lands. Obviously, we never followed up, and thus you see the crisis gradually rising," said Rep. Doc Hastings of Washington, the ranking Republican on the Natural Resources Committee.

He said the solution is the same for both the short-term and long-term prices: Assure the markets that the U.S. will pursue domestic exploration.

dont eat that  posted on  2010-03-26   13:01:06 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 2.

#3. To: dont eat that (#2)

Bottom line remains that due to liberals insistence, China is drilling for oil 50 miles off our coast, while American companies are barred from doing so. And this policy is just one more straw on the proverbial cammel's back, an economy thats in woefull shape and getting worse.

The irony is those in blind support of this administration and congress are going to lose big in the next two election cycles due to economic matters excerbated by THEIR policies.

The economy simply can't take much more of this malfeasence by the majority party and the administration. Thats why the poll numbers for both the President and the Congress are dangerously low.

Badeye  posted on  2010-03-26 13:16:22 ET  Reply   Untrace   Trace   Private Reply  


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