Who said we would be better off with European gas prices?

  You’re way ahead of me on this one,  aren’t you? Of course you are. The New York Times has a STORY this weekend which basically covers, with a new twist or two, the same ground I covered HERE six months...

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Higher gasoline prices pump more cash into Mitt Romney’s campaign coffers

This ad from Priorities USA, a Super PAC supporting Barack Obama’s re-election effort, is a potentially effective means of redirecting public anger over high gas prices. And, of course, its principal strength is that it’s true. [youtube]http://www.youtube.com/watch?v=EestQUT-N2g[/youtube]  

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There was a time when Romney favored high gas prices

It isn’t going to be easy for Mr. Etch-A-Sketch to erase THIS BIT OF HISTORY: As he campaigns for president, Mitt Romney is ratcheting up his attacks on Barack Obama over high gas prices, putting the issue at the center of his economic message. He is calling for Obama to fire his Energy secretary, EPA administrator, and Interior secretary, saying they are to blame for high prices at the pump. “No question in my mind that these—I call them the gas-hike trio—that those three are on a mission to drive up the price of gasoline and all energy so that they can finally get their solar and their wind to be more price-competitive. That’s what they want to do,” Romney said on Monday. Curiously overlooked, though, is just what a shift this rhetoric is from the approach that Romney took on the issue of gas prices while governor of Massachusetts. Befitting his profile as a moderate Republican who cared about the environment, Governor Romney responded to price spikes by describing them as the natural result of global market pressures and by calling for increases in fuel efficiency—the same approach that he now derides Obama for taking as...

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Study: 36 years of data show no link between gas prices and domestic drilling for oil

  The political demagogues are just plain wrong when they blame high gasoline prices on the Obama administration’s alleged aversion to domestic drilling for oil. For one thing, domestic oil production has increased, not decreased, under President Obama. For another thing, America is less dependent on foreign oil under Obama. And the clincher: The “drill, baby, drill” approach to bringing gas prices down is nonsense, as we see HERE: It’s the political cure-all for high gas prices: Drill here, drill now. But more U.S. drilling has not changed how deeply the gas pump drills into your wallet, math and history show. A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S. domestic oil production by The Associated Press shows no statistical correlation between how much oil comes out of U.S. wells and the price at the pump. If more domestic oil drilling worked as politicians say, you’d now be paying about $2 a gallon for gasoline. Instead, you’re paying the highest prices ever for March. Political rhetoric about the blame over gas prices and the power to change them — whether Republican claims now or Democrats’ charges four years ago — is not supported by cold, hard figures. And that’s especially true about oil drilling in the U.S. More oil production in the United States does not mean consistently lower prices at the pump. Sometimes prices increase as American drilling ramps up. That’s what has happened in the past three years. Since February 2009, U.S. oil production has increased 15 percent when seasonally adjusted. Prices in those three years went from $2.07 per gallon to $3.58. It was a case of drilling more and paying much more....

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Ups and downs in U.S. gasoline prices track with those in Britain, France and Germany

HERE‘s further proof that U.S. presidents have little influence on gasoline prices: The public understands Obama isn’t to blame for high gasoline prices, as recent polls make clear. Even the Wall Street Journal and Cato Institute agree: “It’s not Obama’s fault that crude oil prices have increased.” But as the NY Times pointed out Sunday, facts don’t stop the GOP. (Snip) The Times put together some great charts using [Energy Information Administration] data. They make clear 1) oil prices are set on a global market and 2) the strategy of “Drill, Baby, Drill” adopted by the GOP and President Obama has succeeded at increasing production and decreasing dependency on foreign oil — but it has unsurprisingly failed at affecting global...

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