Barack Obama has officially overseen a greater rise in gasoline prices than even Jimmy Carter. After Obama spoke at the Keystone XL Pipeline, oil prices have continued to rise. Obama again made the public and the oil traders concerned and anxious.
The public and oil traders understood that Obama was not responsible for the increased drilling in the United States. It was private initiative that resulted in more drilling and more oil production. They also understood that not having the Keystone XL Pipeline to bring oil from Canada to the United States would decrease the supply of oil in the United States. Oil traders decided that the actions of Barack Obama would decrease our supply of oil without immediately decreasing the demand, so oil prices will go up for the foreseeable future.
Barack Obama has added another distinction to his Presidential resume. Obama has succeeded in increasing the price of gasoline by more than Jimmy Carter was able to achieve. As Lauren Fox of US News & World Report wrote,
Marking the similarities between President Barack Obama's time in office and former president Jimmy Carter's is nothing new. But as of Monday, Obama has hit one more Carter benchmark - both saw gas prices double in their first term of office.
In fact, while just barely, Obama has seen an even higher gas price increase than Carter dealt with under his administration.
Under the Carter administration, gas prices increased by 103.77 percent. Gas prices since Obama took office have risen by 103.79 percent. No other presidents in recent years have struggled as much with soaring oil prices. Under the Reagan administration, gas prices actually dropped 66 percent. When Bill Clinton was president, gas prices grew by roughly 30 percent, and under both Bush presidencies, gas prices rose by 20 percent.
The National Republican Congressional Committee called attention to Obama's recent "dishonorable distinction," blaming the Democrats' rejection of the Keystone XL pipeline as a major factor for skyrocketing gas prices.
Obama continues to push for wind and solar energy production, higher mileage requirements for vehicles, and other money and time wasting measures rather than simply drilling for oil like the Chinese, Russians, Cubans, Indians, and others are doing. The longer Obama refuses to listen to reason, the higher our gasoline prices will rise and the farther we will be from real energy solutions and a plentiful supply of inexpensive energy.