Gas Prices And Short Memories
Unlike 2008, when gasoline prices reached $4.11 in July, conventional wisdom was that the President, at that time George W. Bush, was responsible for the high price of gasoline. Senators Pelosi and Obama excoriated Bush for not doing something to lower the price. Bush, well known to be mentally defective, rescinded the executive order forbidding off shore drilling on July 14.
In September, Congress, bowing to public pressure, did not extend the law forbidding off shore drilling, allowing all prohibitions to lapse. In October the average price of gasoline was $1.99. By Dec 31, the average price of gasoline was $1.61. After President Obama took office, the price has steadily risen, perhaps because Obama has publicly stated that gas should be more expensive and because he does not support increased drilling. In fact he has ridiculed the idea. Now that Senator Obama is President Obama, conventional wisdom is that he is powerless to lower the price of gasoline. It must be great to be that smart. Did we just imagine 2008, or did dumb George W. Bush and a desperate Congress actually bring the price of gasoline from $4.11 to $1.61 in five months? Oh, yeah – the economy was bad and average use was down. Guess what, the economy is still bad and average use is still down. Will you ever get tired of the lies?