You may not have noticed this past Labor Day weekend that gas prices are the lowest they’ve been since 2010. Of course when Barack Obama took office, the average price of gasoline was $1.89. Right now in America it’s about $3.44 — and remember how the progressive socialist media went apoplectic over gas hitting $2.50 under George W. Bush?
Rock Hill, South Carolina has the lowest price at $3.01 and South Carolina statewide has the average lowest price in America at around $3.15. So why the sudden drop? But more importantly, are we at a point where high $3.00 to $4.00 gasoline prices are the new normal?
According to The Daily Caller, thanks to booming U.S. oil production from shale formations gas prices have gone down. “As the economy makes modest gains, more Americans are joining the labor force this year,” said AAA COO Marshall Doney in a statement. “With Labor Day symbolizing the American workers’ contributions to the strength and prosperity of our country, it’s only fitting that millions are choosing to celebrate this positive direction with an all-American road trip.”
I would say not so fast to Mr. Doney regarding more Americans joining the labor force — many are taking multiple part-time positions. In addition, if more Americans come back into the market looking for employment, we’ll actually see an increase in the unemployment rate in America — since those disaffected workers are not currently counted. The stock market may be rising, but the labor market is still recovering.
We should all take a look at what’s happening in North Dakota as an example of how domestic energy exploration and production boosts economic output, leading to low unemployment and better paying jobs for hard working Americans – not to mention strengthening our energy security.
The Daily Caller reports that gas right now America is more than 10 cents below the average price for the same time last year. “Consumers in the South and parts of the Midwest are likely getting their gas for under $3.82, while West Coast and New York drivers are likely to see gas prices above $4.00 a gallon. The average price of gasoline is now 25 cents less than it was at the end of June, according to the Energy Information Administration, and gas prices are projected to continue falling this year to an average monthly price of $3.30 per gallon in December.”
So is this the new normal? Are Americans willing to accept they will never again see average gasoline prices below $2.00? Is there no possibility that we can get back to the January 2009 level? Maybe there is, if we look at why prices have dropped.
The Daily Caller says, “hydraulic fracturing, or fracking, is responsible for allowing oil companies to unlock vast reserves of oil and natural gas that were previously inaccessible. This huge technological achievement has led to a U.S. oil boom and helped lower gas prices.”
So why is it that progressive socialists are so against this technological innovation? Could it be the hard line Leftists’ commitment to a “green energy agenda” precludes them from seeing the benefit of expanding American oil and gas exploration and production? Do the left wing progressive environmentalists harbor angst towards the citizens of North Dakota for the success and improved standard of living? — perhaps they’d prefer North Dakotans to be wedded to the welfare nanny-state.
Clearly Obama and his Environmental Protection Agency (EPA) — as well as the complicit media and Hollywood elites — are doing everything possible to stymie the efforts of other states to enjoy the fracking innovation. We also know most of this oil and gas production is being done on state and private lands and the federal government is tightening its control on lands and even declaring more “endangered species” to preclude fracking expansion — two things we reported here. As well, the Obama Bureau of Land Management is using every bureaucratic trick in the book to tie up federal lands and, along with the EPA, bring lawsuits against states and individual Americans.
So, as little as it seems, any relief for struggling, hard working American families at the gas pump is welcomed. But I say let’s not allow this to become the new normal. We can get back to less than $2.00 a gallon on average in America by expanding safe fracking operations and strengthening our American dollar — two policies I’m not sure the Obama administration will support.
Never forget, the media went nuts on Bush over $2.50 gasoline. Here that now? Chirping.