The Sunshine Empire

In February of 2008 former oil man and then president George W. Bush was asked about the coming prospect of $4.00 a gallon gasoline. His response to what he would advise working Americans was a basic, “That’s interesting, I hadn’t heard that.” President Bush’s conservative defenders at the time were quick to point out that the president has little power to directly dictate prices to the oil market. Despite his promise to “jawbone” the Saudi royals, Bush could little affect growing demand from China and a lack of American refining capacity. Despite this, Democrats on the election year stump regularly attacked Bush for the staggering price of gas. As that year wore on gasoline prices did spike to $4.00 a gallon, but the American economy was moving closer and closer to a historic cliff.

Policies having nothing to do with drilling, refining or producing petroleum products caused what is now known as The Great Recession. The gutting of financial sector oversight, the shifting of the tax burden from wealth onto the backs of the working class, and unregulated credit default swaps betting on the real estate bubble bursting all contributed to the worst economic downturn since the Great Depression. Gasoline prices across the fruited plain dropped quicker than a Tom Brady pass to Wes Welker in the Super Bowl. Gas prices rise and fall according to economic demand. When the economy grows, more is shipped, more people travel to jobs, and emerging markets demand more and more of that black gold.

Now we find ourselves again in an election year with a growing economy again, and gas prices are on the rise. The same conservatives that argued against gas prices being Bush’s fault are now laying the current rise in pump prices at the feet of Barack H. Obama. Former House Speaker Newt Gingrich has been assuring voters on the stump that he sees no reason why he could not ensure $2.00 a gallon gasoline during his presidency. If elected I’m actually sure he could deliver on this promise. Because if he returns us to the economic policies of unregulated mass hysteria and doubling down on tax cuts, I’m sure gas will be $2.00 a gallon because of the second great recession.

Related posts:

1. The High Cost Of Living In The Sunshine Empire
2. The Political Realities Of The Current State Of The American Economy
3. McCain Destroys The Economy To Win An Election
4. President Obama And General Lee
5. The War And The Economy