Will Gasoline prices bring down this President?
Unfortunately the oil and gas industry is an area where Obama is inexperienced and his advisors are ill suited. The one area the Bush Administration understood well was the Oil/Gas industry. Almost all of his cabinet and close advisors were from oil and gas. Even Condoleezza Rice had a tanker named after her. Many even think the Iraq invasion had an oil motivation.
Obama has none of these experts and comes from a city where cars were not as necessary as they are in most of the country. Chicago has the “L” and most of the East Coast has public transportation. But here in the rest of the country the automobile is not an option. I have long argued that contrary to law a driver’s license is not a “privilege” bestowed upon drivers by a benevolent bureaucrat but rather a necessity of life in the Midwest.
Rising gas prices are the Achilles heel for the Obama Administration. It affects everything from shipping costs to the direct pocketbook. The economy is on a rebound, but this fragile recover can be derailed by rising gas prices. The President may have little direct control over prices at the pump but the public will hold him responsible. Obama’s cruise through reelection has been almost assured by the pathetic slate of opposition candidates offered up this cycle. But rising gas prices can destroy the recovery and produce an electorate angry enough to hold their nose and vote for (fill in the blank).