By Stephfon Guidry
Have you looked at gas prices lately? The average gas prices in America are rising at an alarming rate of about 17% this year alone, as documented by motorist group AAA. Gas prices rose for the 9th straight day today and political officials are worried. Nationwide the gas average was around $3.52 a month ago and is now around $3.76, while in seven states gas averages over $4!
The cost climb in gas prices puts a strain on everyday travel and is due to tensions in Iran with political negotiations over oil. A Global conflict is arising; Iran raised its oil prices by 5% in turn raising its stock market value and through this butterfly effect it may lead to all out economic war over oil reserves. An answer came in the suggestion that both the U.S. and Britain begin releasing some of their strategic oil reserve to cut gas prices and boost sales. However this is a Band-Aid on a gash with the need for a more sturdy long term economic issue.
While President Obama’s new economic plan brings more jobs into the job market, gas prices are a secondary issue. This oversight prompted Republican G.O.P.s to pounce on a chance to criticize the president’s decision making. Newt Gingrich pledged that he would drop gas prices down to $2.50 a gallon, a hefty promise! Santorum scapegoated the high gas prices as the reason for the 2008 housing crisis and economic woes. CNN.com documents Romney openly saying,”‘[Obama] should be hanging his head’ over his energy policies and also accused the president of slowing domestic production.”
Gas prices will steadily rise until a more lasting political solution is found so watch your wallet!