What can a president do about gas prices?
by Meredith Jessup
With the price of a gallon of gasoline doubling over the course of Barack Obama’s time in office, many voters will head to the polls this fall to hold the president accountable. Meanwhile, many Obama supporters argue that the president has no control over gas prices and it would be silly to vote for a candidate who promises to lower them.
So how much control does a president really have over gasoline prices?
Obama Energy Secretary Steven Chu was convinced that artificially raising the price of gasoline would force more Americans to adopt more environmentally friendly alternatives. ”[W]e have to figure out how to boost the price of gasoline to the levels in Europe,” Chu told the Wall Street Journal in 2008. Four years later, Chu and the Obama administration are now about halfway toward accomplishing their goal.
File this one away and we'll pull it out when hairy and pelosium start crying.