Bush Vs. Obama On Gas Prices
During the first twenty-six months of President Bush’s first term in
office, the price of gasoline increased by 7%. At the end of his second
term, the price had decreased by 9% from the time he took office
(adjusted for inflation). During the first twenty-six months of Obama’s
term in office, the price of gasoline has spiked over 67% with no
relief in site
President Bush’s response to $4/gallon gasoline was to lift presidential and congressional moratoriums on expanded drilling in the Outer Continental Shelf, a move that many critics say came too late. But what about Obama?
Some on the right have criticized Obama for having no energy policy. This is wrong. Obama’s energy policy is working exactly the way it is designed.
This administration knows that unless the price of fossil fuels
skyrocket, expensive alternative energy sources, no matter how heavily
subsidized, will continue to be unattractive to American consumers.
Obviously, this risky desire to have high gas prices is a punitive
policy that foolishly ignores how Americans use petroleum. While oil is
largely a transportation fuel, solar and wind can only contribute to
our electricity demands. Oil accounts for less than 1% of our electricity demand.
The liberal fascination with developing expensive vehicles that run on
electricity doesn’t change that: 1) Solar or wind powered vehicles
don’t commercially exist; 2) The cars that do run on electricity, or
even battery-powered hybrids still require gas; and 3) the high cost of
the alternatively fueled vehicles makes them largely insignificant in
the auto market and cost-prohibitive to the average consumer.
President Obama must stop killing energy jobs, hurting American
business owners and penalizing taxpayers at the pump in order to score
unrelated points with his environmental base. Obama needs to end the
EPA practice of imposing regulations on refineries that increase the
cost of oil production. He must stop looking to raise taxes on oil
producers while heavily subsidizing other energy industries.
And Obama must at least end his de facto moratorium and get America
back to the domestic supply capabilities we had just two years ago. As
Senator Mary Landrieu (D-LA) told Interior Secretary Ken Salazar in a hearing on oil prices this week:
“In January 2009 there were 16 permits issued. The next year there were
12 and this January, only two. We’re so far off the historic level.
We’ve got to get it back up as quickly as possible.”
This time, in this economy, with these transportation and energy
realities is not the time for Obama to curry favor with eco-liberals by
raising the cost of living for the average American family. President
Bush may have wanted to increase the drilling status quo by too much in
your opinion, but surely we can all agree that intentionally decreasing
our domestic supply makes little sense today.
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