The Gasoline Blame Game

Feb 24 2012 @ 4:02pm

Even though Obama ran against high gas prices in 2008, Matt Yglesias doesn't fault the president for the recent spike in prices. Matt's larger point:

The real problem is not that gas gets expensive sometimes, but that the United States, with its extremely high levels of per capita oil consumption, is much more vulnerable to supply disruptions than are rich countries in Asia and Europe. A larger share of Americans drive on a daily basis, and they drive heavier cars longer distances. Not coincidentally, gasoline is cheaper here thanks to lower taxes. But while American politicians like to pay lip service to the idea of tax reform that encourages work and investment, they refuse for political reasons to levy higher fees on environmentally and economically destructive gasoline in exchange for lower taxes on socially beneficial labor and savings. Until that happens we’re doomed to endless repetition of the pointless gas-price blame game every time global conditions push prices up.

Earlier Dish on Obama and oil prices here and here