President Obama says there's not much the federal government can do to bring down gas prices any time soon. Michael Bromwich, Obama's chief bureaucrat in charge of issuing permits for oil and gas companies to drill off-shore, said the same thing today:
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The White House has quickly capitalized on House Speaker John Boehner’s admission yesterday that oil companies should “pay their fair share in taxes” in response to high gas prices.
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‘There is no magic formula to driving gas prices down,” President Barack Obama told a Pennsylvania crowd earlier this month. Although he was correct that there is no magical combination of words involved, there is a formula. It involves either persuading Obama to reverse his opposition to significant expansion of domestic energy production, or replacing him in November 2012 with a president who will promote such expansion.
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That headline should be the policy mantra of sensible politicians. Unfortunately, President Barack Obama believes he has to do something to get prices down lest he pay a terrible price at the polls. Equally unfortunate, Republicans are using high gas prices as a stick with which to beat the president.
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Like we noted on Sunday, it takes a lot to get California drivers out of their vehicles, and the latest state gasoline consumption numbers back that statement up.Despite a six percent hike in state gas prices, vehicle fuel consumption still rose by 2.6 percent from November 2009 to November 2010, according to California Board of Equalization.
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Gas prices in San Francisco have risen by more than 25 cents in the past month, and ongoing unrest in the Middle East is likely to drive those costs higher. But area motorists say the prices would have to really soar before they would consider ditching their vehicles.
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For the first time in 2010, local motorists are paying less for gas when compared to last year’s prices.
The average cost of a gallon of gas in San Francisco is now $3.14, which is 13 cents cheaper than last month and 10 cents cheaper from September 2009 costs. According to AAA spokesman Matt Skryja, uncertainty in the global economy has contributed to lower crude oil prices, which in turn have led to cheaper gas costs.
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If San Franciscans are hitting the road this holiday weekend, they will have more money for Independence Day celebrations if they purchase their gas outside The City’s limits.
Local gas stations are charging $3.24 per gallon on average — 9 cents higher than last month and 15 cents higher than last year. However, the state average is $3.01, which is only a penny higher than it was last year and a month ago, according to the AAA.
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