The price at the pump has doubled since President Obama took office, and no matter how hard Chicago campaign headquarters tries to deflect responsibility, discussion on the cost of gas will be unavoidable in the campaign chatter this summer.
In 2008, then-candidate Obama suggested a “windfall profits tax” that would help pay for a $1,000 tax rebate for the middle class, which disappeared once Obama took office. President Barack Obama introduced new measures Tuesday to limit speculation in the oil market.
Government and politicians may be limited in their ability to affect the price of oil, but has the government done anything to make the problem worse? Is there anything the government can stop doing to lower the price of oil?
CNNMoney reports that the new proposals require oil traders to put out more of their own money for transactions, ask for more money for market enforcement and monitoring activities, and calls for higher penalties on market manipulation.
During Tuesday’s “Real News,” Will Cain questioned if attacking the president’s actions on this issue, or at times lack there of, is politically wise for the Romney campaign.
“I’m not sure that this is the issue Mitt Romney wants to really take voters to the polls with,” said Cain.
“One, I’ve seen some people write that this is not the right kind of voter you’re appealing to here. When you appeal to the gas pump voter, you’re appealing to a voter who is largely voting on shallow mechanisms.”
“The second argument on why this bad,” which Cain supports more than the first line of reasoning, is that if you hang your hat on gas prices too heavily now, what happens if gas prices go down come September? S.E. Cupp agreed with many of Cain’s comments, but questions if hammering the president on gas prices is a political opportunity Romney can afford to pass up.
Jedediah Bila commented that Romney may be able to gain traction with the American people on gas prices if he is able to sell, and eventually enact, effective long term goals on the issue rather than promise short term solutions.
“Years back people were saying ‘well if you open up ANWR we won’t see the results of that for ten years.’ Well guess what if they had opened up ANWR– It’s been ten years later, now we would be reaping the benefits.”