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Gasoline Prices Skyrocket Under President Obama
ATRF ^ | 2012-07-16 | Jeremy Sawyer

Posted on 07/17/2012 7:46:04 AM PDT by 92nina

President Obama’s Energy Secretary, Steven Chu, infamously said, “We have to figure out how to boost the price of gasoline to the levels in Europe.” The statement was widely seen as a gaffe that hurt the President politically. Yet the data show that the Obama administration has had success doing precisely that, to the detriment of American citizens.

Many Americans correctly recall an era not too long ago when energy prices were seemingly orders of magnitude lower than they are today. Indeed, the numbers show this perception to be firmly anchored in reality.

When President Reagan took office, gasoline prices had reached $3.41 per gallon in today’s dollars. Prices remained at high levels partly as a result of the 1970s OPEC embargo and President Carter’s ineffectual handling of the situation. Reagan responded by removing price controls via executive order and cutting taxes.

By June 1984, real gas prices had declined dramatically to $2.64 per gallon. The decrease of $0.77 represented a 22.58 percent cut in real prices. Gas prices declined faster than the dollar depreciated due to inflation during President Reagan’s first term, such that even in nominal terms a gallon of gas cost less 41 months into Reagan’s presidency than at its beginning.

Real Gas Prices:  Reagan vs. Obama

On the other hand, gas prices have risen sharply under President Obama even when adjusted for inflation. At the beginning of the Obama administration, a gallon of regular gasoline cost only $1.93 in today’s dollars. However, President Obama has pursued policies that have been counterproductive to achieving the goal of low energy prices. The current administration has pushed restrictions on drilling in the Arctic National Wildlife Refuge (ANWR), imposed a moratorium on deep-water drilling, and rejected the Keystone XL pipeline.

These policies have contributed to steadily rising gasoline prices throughout the Obama administration. Real prices have approached $4.00 per gallon in the spring of 2011 and again this past April; they remained at the historically high level of $3.54 in June.

Whether President Obama will change course and advocate policies that would boost domestic energy production and lead to lower gas prices has yet to be determined. The data show, however, that the course being followed by the current administration is likely to result in more pain at the pump for ordinary Americans.

This content is provided by Americans for Tax Reform Foundation.

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TOPICS: Business/Economy; Government; History; Reference
KEYWORDS: 2012election; bho44; economy; election2012; globalwarming; kenyanbornmuzzie; mittromney; obama
Rising cost of gas differs sharply from falling prices during the Reagan administration.
1 posted on 07/17/2012 7:46:18 AM PDT by 92nina
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To: 92nina

And just when they were starting to go down, maybe low enough for me to hook onto the boat, and head for Florida, they start going back up. Drill baby drill, and do it everywhere the Democrats won’t permit it. If I have to pay high prices for fuel, let it be American fuel, in abundance.

2 posted on 07/17/2012 7:52:09 AM PDT by pallis
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To: 92nina

Gas isn’t the only thing skyrocketing under the Incompetent One. My wife’s been complaining about food prices when she goes to the grocery store. Obamination is clueless about what Americans have gone through under his incompetent administration.

3 posted on 07/17/2012 8:08:41 AM PDT by Marathoner 244
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To: 92nina
A little perspective is often useful ...

4 posted on 07/17/2012 8:12:35 AM PDT by ArrogantBustard (Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
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gas prices here in Southwestern Pennsylvania once again is on the rise..over night they went up 6 is completely crazy...items that only a year ago were .99 cents are now $2.99...I hate grocery shopping and there was a day I loved to go....and we are now a family of two and not the four that I had...

we are now 74 and almost 70!! and we are both ready when the call comes...scary world.

5 posted on 07/17/2012 8:20:02 AM PDT by haircutter
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To: 92nina

It it’s even worse than the article states.

Remember in 2008 when it first appeared that Obama would win the election?

Gas prices skyrocketed to more than $4.00 a gallon and right after the GOP Convention when Sarah Palin announced her doctrine of Drill Here Drill Now, has prices fell to just over a dollar a gallon.

Since Obama seized office, gas prices have done nothing but increase and again are approaching $4.00 a gallon.

6 posted on 07/17/2012 9:27:07 AM PDT by Uncle Slayton
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To: Uncle Slayton
and right after the GOP Convention when Sarah Palin announced her doctrine of Drill Here Drill Now, has prices fell to just over a dollar a gallon.

Gasoline prices started falling with the economy before the GOP convention and continued to fall after they lost the election.

Quite silly to claim it fell due to Gov Palin's words.

7 posted on 07/17/2012 10:52:14 AM PDT by thackney (life is fragile, handle with prayer)
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To: 92nina
Oil price could have been rigged like Libor(Dail Mail UK)
8 posted on 07/18/2012 7:59:45 AM PDT by PapaBear3625 (If I can't be persuasive, I at least hope to be fun.)
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