With a gallon of regular around $4 and climbing, the White House is paying close attention to the price of gasoline. President Obama and his team are, no doubt, wondering how high it can go before it takes them down.
The president and his allies argue that it isn’t their fault. More crude is being pumped from American wells than ever before, they say. Which is true, no thanks to them, and thanks chiefly to the drilling in North Dakota which happened without benefit of government stimulus programs. Still, the oil from the Bakken field is being extracted and refined. Also, more offshore drilling is being opened up, say the president and his supporters. Furthermore, permitting the Keystone pipeline wouldn’t have made any difference. Besides, the Republicans are to blame for killing that project.
