Newt Gingrich remains on the campaign trail pushing a platform of $2.50 per gallon gasoline which it should be noted would be 65 cents more per gallon than what it was when Obama took office.
Obama and others are expressing skepticism that Gingrich could do this. The website Fuel Fix, for instance, rates Newt’s claim as “near empty” saying that increase domestic production by removing red tape and opening more waters for offshore drilling. The Keystone XL pipeline has long been debated for its potential impact on U.S. jobs and prices at the pump . . . And it’s unrealistic to think (Gingrich’s plan) could bring gasoline to $2.50 or lower.
They claim that drilling in ANWR and off the coasts would be just a drop in the bucket of world-wide oil supply and take years for the oil to come to market.
It says the Keystone pipline would only lower prices by “15 to 20 percent”
OK, one suspects that most of us would be quite happy with a “15 to 20 percent” cut in gas prices which would be 60-cents-plus per gallon, and one is not sure if Fuel Fix et al is taking into account how more U.S. drilling would affect the pricing plans of those in places like Iran but what is most strange is that they seem to be limiting Gingrich’s point of “eliminating bureaucratic red tape” as applying solely to new wells.
Gingrich has been consistent in his push for a requirement that the Environmental Protection Agency consider economic consequences to the regulations it creates.
Wonder why that subject is being ignored by those covering Newt?