Presidential decisions and the price of gasoline
Here I offer a few reactions to some of the comments that President Barack Obama and Governor Mitt Romney made about energy policy in their debate last night.
Governor Romney: the proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about a buck eighty-six a gallon. Now it's four bucks a gallon.
Notwithstanding, the price of gasoline during Obama's term in office has never been as high as it was in July of 2008. To suggest that the drop in price in the fall of 2008 was largely due to policies of President Bush is rather farfetched. President Obama had what I regard as the appropriate rejoinder: