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    The Week

    The rising price of gas: Will it hurt Obama's re-election chances?

    By The Week's Editorial Staff | The Week – Thu, Feb 23, 2012

    Oil prices are climbing above $105 a barrel, thanks in part to ongoing tensions between Iran and the West. In the U.S., a gallon of gas is averaging $3.50, and some are projecting prices to hit $5 at the peak of the summer driving season. President Obama is enjoying a boost in the polls, largely because the economic recovery appears to be gaining momentum. But will pain at the pump sour voters on his presidency come November?

    Definitely. Voters will blame the president: Unless Obama takes action, he will face "anger from voters hurt by gas prices," says Ron Klain at Bloomberg. For families coping with the sluggish economy, "the soaring numbers at the corner gas station are far more meaningful than the indexes at the New York Stock Exchange." Working-class voters in the "suburbs and exurbs are hit hardest" by high gas prices, and they comprise the bulk of the swing vote in presidential elections.
     "How to defuse political peril of surging gas prices"

    The real issue is the economy: Actually, studies show that oil prices don't play a major role in presidential campaigns, says Brad Plumer at The Washington Post. However, the state of the economy definitely does, and Obama should be worried if high gas prices start to "crimp the broader recovery." The more consumers are paying at the pump, the less they're spending on American goods and services — and that's not good for the economy or Obama's reelection prospects.
    "Will rising gas prices sink Obama?"

    Republicans could get some of the blame, too: High gas prices would put Obama in a tight spot, says Ann McFeatters in the Boston Herald. But voters could "turn against GOP legislators" if they block Obama's proposals to promote energy independence. The latest spike in gas prices shows that dependence on foreign oil is "costly, tiresome, and dangerous" — which makes it all the more important to "produce affordable, renewable energy."
    "Obama over barrel"

    SEE MORE: Obama is the Reagan of 2012

    View this article on TheWeek.com Get 4 Free Issues of The Week

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    • D K
      D K  •  Thousand Oaks, California  •  3 mths ago
      The facts is we or our US companies are selling our gas over seas because they make more money than they would here. We have cut back but China will pay for it. It has more to do with the refineries than anything else. We haven't built one in a long time.
      • Raymond
        Raymond 3 mths ago
        They have even closed several refineries.
      • spinning_left
        spinning_left 3 mths ago
        Who closed what,and who did not build new refineries ?
      • Ruzik M
        Ruzik M 3 mths ago
        If we are exporting refined fuel, that's not exactly true. We are not only refining for us these days, but for China as well. We are actually getting better mpg due to technology. The warm winter has kept refineries idle as well. Prices are due to to international consumption, mainly in Asia. It's not all on Obama, but he is to blame for the fall of the U.S. dollar in trading for oil.
    • nick s
      nick s  •  Tampa, Florida  •  3 mths ago
      Why hr why does nobody in the media talk about or question the 2008 $140+ per barrel leading to $4+ gas and now $105 perbarrel leading to $4+ gas?.. I understand inflation but it's only 4 years, I understand the dollar value but I doubt it's that different. Why is the gas so much more expansive at the pump per barrel between then and NOW!
      • So Happy
        So Happy 3 mths ago
        I often wondered that myself.
      • SMITTY
        SMITTY 3 mths ago
        it is due to de Bammer and de Libs
      • James Robert
        James Robert 3 mths ago
        Because the US is now a net EXPORTER of gasoline and other refined petroleum products. Gasoline prices are higher in Latin American so that's where US-produced gasoline is being sold.
    • Harry
      Harry  •  3 mths ago
      Let's see...how many times in the past have people blamed the President for high gas prices? Oh, yeah...EVERY, SINGLE TIME. So, yeah, they will. Doh!
      • C
        C 3 mths ago
        It doesn't matter who is the President. Prices on gas will inevitably go up because of a simple fact. Fossil fuels are limited in supply and will one day be depleted. There is no escaping this conclusion.
      • nickf
        nickf 3 mths ago
        ............do you not know that there are trillions of gallons in reserve in the U.S alone! The issue is that our gas is being shipped to other countries for a bigger profit and that is what needs to "CHANGE" so Obama stop vacationing and do your job.
      • C
        C 3 mths ago
        LOL! Nick, keep dreaming, are you on meth? As of May 31, 2011, the current inventory in the US was 726.5 million barrels. The United States started the petroleum reserve in 1975 after oil supplies were cut off during the 1973-74 oil embargo. It is call Strategic Petroleum Reserve. The offices are in New Orleans, LA. Close to Texas ;o)

        Why do you think prices of gas are going up? Let explain it to you in terms you can understand, it's a principle in economy called "Supply & Demand". As demands for gas goes up and SUPPLY of petroleum goes down (guess why?), prices goes up.

        So, you think there are unlimited supply of fosill fuel. You are misinformed and your assumptions are unfounded as much of what your party leaders say.
    • 2k77
      2k77  •  3 mths ago
      Saw on Bloomberg news this morning that every time gas prices spiked in the past 40 years the US economy went into recession shortly after.
    • DAVEM
      DAVEM  •  3 mths ago
      Now they are talking about releasing oil from the petroleum reserves. But at the same time they continue to export oil. How crazy is this?
      • The Gray Adder
        The Gray Adder 3 mths ago
        I haven't heard any call for that, until just now. I'm pretty sure the President knows he has that option if he thinks it'll do any good.
      • Alan
        Alan 3 mths ago
        Davem, Do you honestly think the oil companys would keep the oil that is drilled for here in the usa here? It goes to the OPEN MARKET as it always has. You want the price at the pump to come down you have 2 things that can be done BUT WON'T be done. 1st. take it off the commodities market. or 2nd STOP the speculation of WALL ST, which is the MAIN CAUSE of the prices at the pump. But with the GOP in control and CAPITALISM there mantra neither will be done. I do not care what president you have in office, dem or repub, it won't matter till you change Wall St speculation or take it off the open market. Did you also know that WallSt. has a $15.00 per barrell fee added on to a barrell of oil called the FEAR FACTOR? The actual price of a barrell of oil is $57.00 everything above that is speculation and profit. Sorry but true.
      • keann
        keann 3 mths ago
        alan -- the current Pres is in the bag for wall street, just talks a good game. most politicians, dems and repubs are in the bag for wall street so quit with the liberal propaganda
    • HAL 9000
      HAL 9000  •  3 mths ago
      Three friends die in a car accident and they go to an orientation in heaven. They are all asked, "When you are in your casket and friends and family are mourning you, what would you like to hear them say about you? The first guy says,"I would like to hear them say that I was a great doctor of my time, and a great family man." The second guy says, "I would like to hear that I was a wonderful husband and school teacher which made a huge difference in our children of tomorrow." The last guy replies, "I would like to hear them say ... Look, He's Moving!
    • Wuzntme
      Wuzntme  •  Fowlerville, Michigan  •  3 mths ago
      People vote there wallet, always have and all ways will, you can’t by gas with food stamps, and when your unemployment and welfare checks don’t go as far as they used to, the people will raise up, soon the inflation that has been happening over the past three years will become more obvious, beef is up 25 percent in the last three years, it will jump another 10 percent this year, inflation is out pacing the small growth we are having and the public’s income is getting them less and less and that always falls on the shoulders of whomever is in charge.
      • Alan
        Alan 3 mths ago
        Certain things SHOULD NOT be in the stock market. Food and energy. period. Which is the reason why everything goes up except the pay check. Unless your on the top of course your pay will ALWAYS go up regardless of the market. Look at the facts. In the past 30years the top have seen their income rise over 275% while the rest have seen basically nothing but a MODEST rise of 18%. (fact and proven). Remember whom is stopping the president from taxing the people whom have benifitted the most from the lower tax rate that was SUPPOSE to produce jobs but instead ended up in their pockets.Nothing will change until you get the $$$$$ of off washington, period. After all they are the best $$$$$ can by. And bought they are. Now take alook at this Keystone pipeline for example. The repubs say it will bring down the price of oil, create 1000s of jobs. Hmmm but if you take a closer look, it doesn't. EVERYBODY should know that oil goes to the open market as does the oil from the Gulf, Texas, Oklahoma, Alaska, etc etc. Now follow the money. Whom in congress stands to gain from the pipeline. Boehner, McConnell, Cantor, McCarthy, West, etc etc. all have huge sums of money invested in this pipeline. (open secrects.org). Like I said we have the BEST $$$$$ can buy.
      • Nun
        Nun 3 mths ago
        Don't have a clue do you Alan?
      • lance
        lance 3 mths ago
        That is why insider trading should be illegal period, prison time.
    • RealAmericanPatriot
      RealAmericanPatriot  •  3 mths ago
      I saw Bill O'Reilly grilling an oil executive last night and the oil executive admitted we had plenty of oil,but the price of fuel was inflated by overseas sales.
    • Ronald
      Ronald  •  3 mths ago
      Why isn't on the news ? obama just gave Russia 7 Alaskan Islands that scientists claim have billions of barrels of oil, Please goggle it and find the facts, All behind closed doors without consulting anybody !
    • Windriver
      Windriver  •  3 mths ago
      Here is the "Number of Acres Leased During the Year" from the BLM

      2006 4,786,225
      2007 4,634,736
      2008 2,615,259
      2009 1,913,602
      2010 1,353,663
      2011 2,016,176

      THIS REGIME is LYING!
    • Pillard
      Pillard  •  Mt Prospect, Illinois  •  3 mths ago
      We would have to nationalize the oil production and distribution to really control gas prices, and nobody wants to think about the mess that would make. So we're at the mercy of corporations who are beholden only to their stockholders.
    • DavidD
      DavidD  •  Baltimore, Maryland  •  3 mths ago
      redkraka, Removing the post once it's been posted doesn't do much good. It's all ready been seen. Removing it does show the yellow in your spine.
      Plus the secret service my still visit you. Good luck
    • RealAmericanPatriot
      RealAmericanPatriot  •  3 mths ago
      As a well informed Liberal who looks at both sides I saw Bill O'Reilly interview an Oil executive on FOX last night.

      The Oil Executive admitted the United States had plenty of oil and that prices were going up because the oil speculators could get more from foreign buyers.
    • Capt. Thunderpants
      Capt. Thunderpants  •  Houston, Texas  •  3 mths ago
      I worked in the oil industry and have seen the refineries cut production to keep fuel prices artificially high. They are also exporting more refined fuels to other countries to keep fuel stocks low. There is no fuel or oil shortage. The oil companies made a killing after Katrina and do not want to see their record profits decline back to the pre-Katrina levels.
    • Young
      Young  •  3 mths ago
      The rising price of gas: it will definitely hurt Obama's re-election chances. But is not bad, it will favor the Republican nominee.
    • RealAmericanPatriot
      RealAmericanPatriot  •  3 mths ago
      As soon as Oklahoma passes the gay marriage act Redkraka plans to marry his little brother.
    • live 4 surf
      live 4 surf  •  Santa Rosa, California  •  3 mths ago
      in a global market we could be a major oil producer,and still pay high prices at the pump,because china and others could pay more if demand was there so oil companies would sell it at higher prices,and demand would still be high in the u,s, along with prices. if the government subsidized oil companies to lower prices we pay more anyway. if the tax the oil companies in a special way they pass the cost to us. i have a headache.
    • linda
      linda  •  New York, New York  •  3 mths ago
      You must drive on long island to get anywhere.And not only gas prices but food prices are bad also,can't afford to feed my family no matter how I cut!!!
    • William
      William  •  3 mths ago
      Gas will hit $4 per gallon this weekend nation wide. The damage to the economy will be huge.
    • lance
      lance  •  3 mths ago
      Important to watch multiple sources of news so you get different ideologies, otherwise you get pretty narrow minded.
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