March 28, 2012

The Gas Price Kerfuffle: Obama's Achilles Heel?

By S. Fred Singer
Newt Gingrich seemed to be shooting from the hip when he promised, if elected, to bring us gasoline at $2.50 a gallon.  Yet cheaper gas is not out of question once the price of crude oil is brought down to about $60 a barrel.  And I readily agree with Gingrich's policy prescriptions -- primarily among them increasing domestic production of oil.  But it may also take conservation (or substitution ) to cut, by 40%, the world price of the raw material for motor fuels.  As gas prices rise to $5 during the summer driving season, Obama is feeling the heat but has not produced new ideas.  On the contrary; all his policies tend to make gas more costly -- opening the door for GOP initiatives. We have to be on guard, however, against populists who claim we could have one-dollar gas if not for speculators, world-government-Trilateralists, and Big-Oil conspiracies.  They make rational discourse difficult and devalue valid criticism of current White-House...(Read Full Article)