Squeeze At The Pump

While Americans Struggle With High Energy Costs, Obama’s Policies Will Make It Harder For Families To Make Ends Meet

AMERICANS ARE STRUGGLING AS GAS PRICES REMAIN HIGH

Gas Prices Have Doubled Since Obama Took Office

When Obama Took Office, The Price For A Gallon Of Regular Gasoline Was $1.847.(Energy Information Administration, Accessed 5/8/12)

On May 7, 2012, The Price For A Gallon Of Regular Gasoline Was $3.790. (Energy Information Administration, Accessed 5/8/12)

High Gas Prices Are Taking A Toll On American Families

NBC News/Wall Street Journal Poll: 63 Percent Of Americans Say Higher Gas Prices Have Had A “Great Deal” Or “Quite A Bit” Of Impact On Them And Their Families.(NBC News/Wall Street Journal Poll , 1000 A, MoE 3.1%, 4/13-17/12)

Americans Views On Obama’s Handling Of Gas Prices Are “Among The Worst Ratings On Any Issue During His Presidency.” “The political angle on gas prices extends beyond hardship to where people place blame. Obama is taking a beating in public opinion on his dealings with gas prices. Just 28 percent approve of the job he is doing in this area; 62 percent disapprove, with half saying they disapprove ‘strongly.’ Those are among the worst ratings on any issue during his presidency. As many Democrats strongly disapprove as strongly approve of Obama’s handling of the situation.” (Dan Balz and Jon Cohen, “Obama Holds Key Leads On Romney, As Economy Malaise Looms Over Reelection Bid,” The Washington Post, 4/10/12)

“The Cost Of Gas Continues To Sting: More Than Six In 10 Call Rising Pump Prices A Financial Hardship, With A Similar Proportion Disapproving Of How Obama Is Handling The Matter.” (Dan Balz and Jon Cohen, “Obama Holds Key Leads On Romney, As Economy Malaise Looms Over Reelection Bid,” The Washington Post, 4/10/12)

62 Percent Of Americans Say The Increase In The Price Of Gasoline Has Caused Their Household Financial Hardship. (The Washington Post-ABC News Poll, 1103A, MoE3.5%, 4/5-8/12)

In Evansville, Indiana, Residents Are Having To Choose Between Gas Or Food. “The high cost of gasoline has many area residents deciding whether to pump gas in their cars or put food on the table.” (Jesse Rininger, “Rising Pump Prices Force Choice: Gasoline Or Food?” Evansville Courier And Press , 3/19/12)

• “The Average Household Budget Is Vastly Adjusted To Compensate For Gas.”  (Jesse Rininger, “Rising Pump Prices Force Choice: Gasoline Or Food?”Evansville Courier And Press , 3/19/12)

Fuel Costs Total 5.66 Percent Of Iowans’ Budgets – The Seventh Highest Share In The Nation. “Using data from the U.S. departments of Labor, Commerce, and Transportation, economists for Wells Fargo Securities found fuel costs eat up 5.66 percent of Iowans’ household budgets — the seventh-highest share in the nation and higher than all but Indiana in the Midwest.” (Steve Gravelle, “Fuel Costs Take Bigger Bite Out Of Iowans’ Budgets,” The Gazette , 3/15/12)

Wisconsin Drivers Are Developing “Coping Skills” To Deal With Gas Prices.“Northeastern Wisconsin motorists say they’re developing a range of coping skills to deal with skyrocketing gasoline prices. And drivers began making adjustments in earnest. They’re altering plans, checking pricing websites like Gas Buddy.com and taking other steps to savepennies at the pump.” (Dough Schneider, “Gas Prices Fuel Lifestyle Changes,” Green Bay Press Gazette, 3/19/12)

Obama Has Been Unsympathetic To The Pain Felt At The Pump

In 2008, Obama Said He Would Have Preferred A Gradual Increase In Gas Prices. OBAMA: “Well, I think that we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn’t had an energy policy. And as a consequence, we’ve been consuming energy as if it’s infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are. So…” CNBC’s JOHN HARWOOD: “So could these high prices help us?” OBAMA: “I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing.” (CNBC’s  “Your Money, Your Vote,” 6/10/08)

Obama In 2008: “[O]bama Suggested That The Main Problem With High Gasoline Prices Is Their Rapid Rise, Not Their Total Of About $4 A Gallon. ” (Charles Babington and Jim Kuhnhenn, “One Down, More To Go For Republicans Aiding McCain,”  The Associated Press, 6/12/08)

In 2008, Obama Said He Thinks Americans Can “Adapt” To Higher Gas Prices.  “But if the government gives middle-class families tax cuts and encourages the market ‘to adapt to these new circumstances more quickly, particularly U.S. automakers, then I think ultimately, we can come out of this stronger and have a more efficient energy policy than we do right now.’” (Charles Babington and Jim Kuhnhenn, “One Down, More To Go For Republicans Aiding McCain,”  The Associated Press, 6/12/08)

OBAMA’S EPA REGULATIONS WILL RAISE ELECTRICITY COSTS

The Wall Street Journal: The EPA “Firehose” Of Regulations Increase Direct Costs To Utilities, Force Plant Closures And Lead To Job Losses And Higher Prices For Consumers. “A utility, for instance, might be able to comply with a single new rule, but under the EPA firehose it might be forced to retire some of its operations.  Beyond the direct costs to the utility, plant closures would lead to job losses and higher prices for consumers and business, with their own knock-on effects.” (Editorial, “The Cost Of Lisa Jackson,” The Wall Street Journal, 8/3/11)

“An Industry-Financed Study Found That New Air Pollution Rules Would Cost Tens Of Thousands Of Jobs And Raise Electricity Rates By More Than 20 Percent In Some Parts Of The Country.” (John M. Broder, “E.P.A. Sets New Standards For Coal-Burning Plants,” The New York Times, 7/7/11)

The “EPA’s Utility MACT Rule Is The Agency’s Most Expensive Upcoming Air Regulation,” Forcing Some Coal Plants To Shut Down Or Make Substantial Investments That Could Hit Consumers, And Cause A Decrease In Power-Generating Capacity. “But everyone agrees on several things: EPA’s utility MACT is the agency’s most expensive upcoming air regulation. Some coal plants will shut down, and many others are likely to switch to natural gas. Many utilities will have to make substantial investments, which could hit ratepayers with higher bills. And the electric grid will see some decrease in power-generating capacity.” (Erica Martinson and Darius Dixon, “Is EPA Rule Coal In Utilities’ Stockings?,” Politico, 11/22/11)

The Detroit News: “The Environmental Protection Agency’s Crusade Against Coal-Fired Power Plants Is On A Fast Track To Raise Electricity Bills In Michigan By As Much As 20 Percent And Restrict The State’s Economic Growth.” (Editorial, “Stop EPA From Killing Coal,” The Detroit News, 6/23/11)

Parkersburg News And Sentinel: The EPA’s War On Coal Will Lead To Tens Of Millions Of Americans Paying Higher Energy Bills, While Devastating The Economies Of West Virginia And Other Coal States. “If the EPA succeeds, tens of millions of Americans will pay higher electric bills – some perhaps thousands of dollars more. But the coal industry will be devastated, and with it, the economies of West Virginia and other coal states will be wrecked.” (Editorial, “War On Coal,” Parkersburg News And Sentinel, 9/20/11)

OBAMA’S CAP-AND-TRADE WILL MAKE ELECTRICITY RATES “SKYROCKET”

If Reelected, Obama Will Bring Back Cap-And-Trade. OBAMA: “We have to have an even more robust energy policy if we’re going to create the kind of jobs in this new energy sector that are needed and we’re going to deal with climate change in a serious way.” (President Barack Obama, Remarks At A Campaign Event, San Francisco, CA, 2/17/12)

Obama: “Under My Plan Of A Cap-And-Trade System, Electricity Rates Would Necessarily Skyrocket.” OBAMA: “When I was asked earlier about the issue of coal, you know, under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.” (Sen. Barack Obama, Interview With The San Francisco Chronicle’s Editorial Board, San Francisco Chronicle, 1/17/08)

The Wall Street Journal: Cap-And-Trade “Is Likely To Be The Biggest Tax In American History.” “Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can’t repeal that reality.” (Editorial, “The Cap And Tax Fiction,” The Wall Street Journal,4/27/09)

A CBO Study On Cap-And-Trade Shows $845.6 Billion In Tax Burden On Americans Through 2019. (“American Clean Energy and Security Act of 2009,” Congressional Budget Office, p 10, 6/5/09)

Billionaire Warren Buffett Said Cap-And-Trade Is A National Energy Tax That Will Hurt Poor Americans. BUFFETT: “Ithink if you get into the way it was written, it’s a huge tax and there’s no sense calling it anything else.  I mean, it is a tax.  And it’s a fairly regressive tax.  If we buy permits, essentially, at our utilities, that goes right into the bills of the utility customers and an awful lot of people in Iowa, in Oregon, and Utah, and places where we are, very poor people are going to pay a lot more money for electricity…” (CNBC’s “Power Lunch,” 6/24/09)

Then-OMB Director Peter Orszag Said Cap-And-Trade Will “Absolutely” Lead To Higher Energy Prices. ABC’S GEORGE STEPHANOPOULOS: “So you’re not disputing that the cap and trade on its own will increase prices for most Americans but they’re going to be getting other benefits in the budget?” PETER ORSZAG: “Absolutely.” (ABC’s “This Week,” 3/1/09)

The Wall Street Journal: Higher Prices From Cap-And-Trade Will Not Just Show Up In Electricity Bills Or At The Gas Station, But In Every Manufactured Good From Food To Cars. “The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.” (Editorial, “The Cap And Tax Fiction,”The Wall Street Journal, 4/27/09)