Another Spring, another round of totally uninformed and illogical arguments about gas prices.
You could be forgiven if you’re feeling some deja vu. As conservatives and Congressional Republicans scramble to blame the president for rising gas prices, you might have the feeling that we’ve been here before.
Oh, that’s right. It was just last year (almost exactly a year ago, actually) that prices were pushing towards $4 per gallon, and everyone from Sarah Palin (in a ludicrously misguided and ill-informed Facebook rant) to Speaker Boehner were misplacing blame for pump prices.
Anyone who takes the time to actually look into it can pretty easily learn that the president alone can’t do much about rising gas prices, through expanded drilling or approving pipelines or whatever else.
The AP just ran a definitive piece that looked at 36 years of data, and found “no statistical correlation between how much oil comes out of U.S. wells and the price at the pump.”
And here are twenty experts from across the political spectrum (including the staunchly conservative American Enterprise Institute and the Cato Institute) stating clearly that domestic drilling has no real effect on gas prices.
A full 92% of economists surveyed replied that gas prices are set by external market forces, and not domestic policies. Even Fox News reported in 2008 that “no President has the power to increase or to lower gas prices.”
Still, the disinformation flies, and so I’ll throw another fact-based argument in the mix. You want more proof that we can’t drill or pipeline our way to lower gas prices? Look north, to Canada.