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Archive for the ‘Gas Prices’ Category

Posted at  09:04 AM ET, 04/17/2012

The Washington Post

By

Despite recent signs that gas prices may be about to fall, the Obama team harbors very real fears that pain at the pump could very well deprive him of credit for the recovery. It could impose additional financial hardships on swing voters who might otherwise be inclined to accept the premise that things are improving.

So today, the White House will unveil a new proposal designed to reframe the debate. The Associated Press reports:

Under pressure to take action on rising gasoline prices, President Barack Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

The White House plan, which Obama was to unveil Tuesday, is more likely to draw sharp election-year distinctions with Republicans than have an immediate effect on prices at the pump. The measures seek to boost spending for Wall Street enforcement at a time when congressional Republicans are seeking to limit the reach of federal financial regulations.

Details in the link. The move seems like an effort to take hold of a gas-prices narrative that has mostly eluded the White House’s control. Previously, Obama and Dems had sought to deflect public anger over high gas prices by highlighting GOP protection of oil industry subsidies; by pointing out that Big Oil interests are pumping big money into ads attacking them; and by picking a sustained fight with the oil billionaire Koch brothers.
MORE HERE

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Think Progress

By Josh Israel  on Mar 23, 2012 at 4:00 pm

This week, Crossroads GPS announced a $650,000 nationwide television adcampaign called “Deflect.”  The 30-second spot falsely blames Obama administration actions for the rise in gasoline prices since 2009.

Crossroads GPS is a tax-exempt 501(c)(4) group, affiliated with the American Crossroads super PAC. Karl Rove has been linked to both groups.

The spot begins by noting gas prices “then and now” — going up from the unusually low prices of January 2009 to the higher prices of today.  A narrator asks what has made the difference.

The narrator then claims the reasons for higher gas prices are:

– “President Obama’s administration restricted oil production in the Gulf

Limited development of American oil shale

– Obama personally lobbied to kill a pipeline bringing oil from Canada

VIDEO AND MORE HERE

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By ANNE GEARAN  03/10/12 06:03 AM ET AP

WASHINGTON — President Barack Obama is hitting back at Republican criticism of his energy policies and his role in controlling gasoline prices.

Obama used his weekly radio and Internet address Saturday to underscore his administration’s work to develop alternative energy sources and increase fuel efficiency.

“I’m going to keep doing everything I can to help you save money on gas, both right now and in the future,” Obama said. “I hope politicians from both sides of the aisle join me.”

He accused Republicans of a “bumper sticker” approach to solving the nation’s energy problems.

It’s a familiar theme _Obama stuck many of the same chords during two out-of-town trips this week and during a White House news conference on Wednesday.

“We can’t just drill our way to lower gas prices – not when we consume 20 percent of the world’s oil,” Obama said in the address, recorded during a visit Friday to a Virginia jet engine component plant.

In the Republican weekly address, North Dakota Gov. Jack Dalrymple accused the Obama administration of blocking projects and technology that would allow greater energy production. He singled out the Keystone XL pipeline project, which Obama deferred.

MORE HERE

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Gas Prices Tightening Family Budgets Just In Time For Summer

JONATHAN FAHEY   05/27/11 05:17 PM ET   AP via HuffPost

NEW YORK — There’s less money this summer for hotel rooms, surfboards and bathing suits. It’s all going into the gas tank.

High prices at the pump are putting a squeeze on the family budget as the traditional summer driving season begins. For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal.

Households spent an average of $369 on gas last month. In April 2009, they spent just $201. Families now spend more filling up than they spend on cars, clothes or recreation. Last year, they spent less on gasoline than each of those things.

Jeffrey Wayman of Cape Charles, Va., spent Friday riding his motorcycle to North Carolina’s Outer Banks, a day trip with his wife. They decided to eat snacks in a gas station parking lot rather than buy lunch because rising fuel prices have eaten so much into their budget over the past year that they can’t ride as frequently as they would like.

“We used to do it a lot more, but not as much now,” he said. “You have to cut back when you have a $480 gas bill a month.”

Alex Martinez, a senior at Arcadia High School outside Los Angeles, said his family’s trips to San Francisco, which they usually take once or more a year, are on hold. As he stopped at a gas station to put $5 of fuel in his car – not much more than a gallon – he said the high prices are crimping social life for him and his friends.

“We’re always worrying, `How are we going to get home. We’ve got less than half a gallon left,'” Martinez said. “We definitely can’t go out as much, and we can’t go as far.”

As Memorial Day weekend opens, the nationwide average for a gallon of unleaded is $3.81. Though prices have drifted lower in recent days, analysts expect average price for 2011 to come in higher than the previous record, $3.25 in 2008. A year ago, gas cost $2.76.

The squeeze is happening at a time when most people aren’t getting raises, even as the economy recovers.

MORE HERE

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