Republicans blame Obama for higher gas prices
Linkedin

Republicans blame Obama for higher gas prices

Islamabad : Pakistan | Mar 10, 2012 at 11:35 AM PST
XX XX
Views: Pending
 
Rising gas price affects US citizens

The oratory of the 2012 election season is widening its scope to include blaming President Obama for increasing gas prices.

"Republicans say Obama policies have blocked energy growth -- particularly the proposed Keystone XL tube from Canada to the Gulf Coast," according to USA Today.

However there has been little change in recent months in give and demand factors, so there is evidence to propose that speculators are the real culprits for rising prices at the pump.

Rising tensions in the Middle East have sent speculators in oil futures to drive the price of Brent crude up nearly 30%, to more than $126 a barrel in March. Last year the same oil sold for less than $100 a barrel.

US Presidents do not manage the price of oil and Barack Obama is no exception.

Supply, demand, and speculators who make money essentially betting on how much oil will cost in the future, play a significant role in consumer gas prices.

1 of 8
Next
Gas prices at a pump in California
Gas prices at a pump in California
NoorBaloch is based in Islamabad, Federal Capital Area, Pakistan, and is a Stringer for Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • Is Wall Street to Blame For Rising Gas Prices?

    Democrats in Congress increasingly are putting pressure on Wall Street speculators to pull back from the oil markets, effectively blaming them for the unseasonable spike in oil and gas prices -- which has caused a headache for the White House as well...
  • Dems target Wall Street speculators over rising gas prices

      Fox News
    Democrats in Congress increasingly are putting pressure on Wall Street speculators to pull back from the oil markets, effectively blaming them for the unseasonable spike in oil and gas prices -- which has caused a headache for the White House as well...
  • Obama Hails Success of US Workers, Technology

      Voice of America
    President Barack Obama is stepping up his campaign to try to show Americans that economic progress is being made on the strength and ingenuity of U.S. workers. During his weekly address Saturday, Obama hailed the increase in new jobs last month.  He...
  • Prices at the pump sends rhetoric rising

      NY Daily News
    Gas prices are rising and so is the angry rhetoric between Democrats and Republicans. With Americans now paying an average of $4 a gallon at the pump, President Obama shot down criticism of his clean energy policies Saturday. Whether you're paying...
  • Obama calls for investment in clean energy

      Channel NewsAsia
    US President Barack Obama called on Congress on Saturday to invest more money in clean energy technologies and end multi-billion-dollar subsidies given each year to oil companies. "I want this Congress to stop the giveaways to an oil industry that's...
  • Obama touts fuel-efficient technology

      MarketWatch
    Fed, consumers With Greece on the backburner, investor attention could turn to a Fed meeting, consumer sentiment, and what both reflect about an improving labor market and rising oil prices...Whether you're paying for a plane ticket, or filling up...

Blogs

 >

Images

 >
 

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.