Repeatedly, we hear the myth that if we end our dependence on foreign fossil fuel gas prices will be lower. However; the fact is that our country’s dependence on foreign fuel is the lowest it has been in thirty years and, yet the price of gas still hovers between $3.60 and $4.00 a gallon.
There are those who want to blame President Obama for our high prices. They announce the price of a gallon of gas on January 20, 2009 like it is some proof that Obama’s policies have failed. They totally ignore that prices rose to historic highs during President Bush’s administration. In either case, President Bush didn’t control the gas prices then and President Obama doesn’t now. Neither President had a policy that caused Americans to pay more at the pump.
So, what’s up?
What’s up is the fact that our oil companies can sell their wares on the open market and in the open market, the highest bidder wins. Don’t think that oil companies care if you pay $3.00 or $4.00 per gallon. It is all about making money.
And, that’s what it means to live in an open market society. For good or bad, unregulated markets go up and down. Gas goes up in the summer and down in the winter, but it never seems to go as low as it once was.
I agonize about gas prices. I have a 126 mile round trip commute to work. I pay very close attention. But, it isn’t going to change no matter who is President, so I’m not going to pretend that it will.
The Troubled Asset Relief Program was passed and signed in October, 2008. A Pew Research Poll released last month shows that 47% of Americans think TARP was passed under President Obama.