President Obama, confronted by the political perils of surging gas prices in an election year, defended his efforts to wean the United States off imported oil on Thursday, even as he conceded there was little he could do to immediately ease the pain at the pump.
Or I could post links to other analyses like this one in Forbes that make the argument that gas prices rising is just another side-effect of the sinking value of the dollar.
Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0.65 to $0.75 per gallon from where they are now just to be “normal”. And, because gasoline prices are low right now, it is very likely that they are going to go up more—perhaps a lot more.
But this post isn’t about any of those things. I happened to see CNN as they covered the President giving his speech mentioned in the first linked article. As is typical for any of the cable news channels, the screen was plastered with scrolling text and other annotations. How did the largest banner read?
“The GOP tries to blame Pres. Obama for rising gas prices.”
Tries to? There is no trying involved here. The GOP is most certainly blaming Obama for rising gas prices. The act of laying blame doesn’t make something true. Whether you agree this blame is justified probably depends on your party affiliation.
The only thing missing was the “AND FAILS!” that I’m sure the ticker-text-writer wanted to add.