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“Gas prices will probably never go back below $3.00 a gallon; $3.50 might be normal and we’re even used to $4.00.”
That’s what Yahoo Finance columnist Rick Newman said on Monday.
With gas prices reaching a six-year high over the weekend, and with an administration that continues to block America’s energy future, Newman’s prediction won’t surprise many.
We’ve seen prices increase on pretty much everything since this President took office. Middle-class families are getting squeezed everywhere they go – but especially at the pump. Gas prices have more than doubled since 2009.
Unfortunately, President Obama’s promise of an “all-of-the-above” energy strategy has fallen flat.
The bad:
- Over the past five years, oil production on federal lands is down 6 percent and natural gas production is down 28, according to the Institute for Energy Research.
- It’s estimated that the President’s proposed national energy tax could lead to an average electricity price hike of 5.9 to 6.5 percent by 2020.
- The President’s recently-proposed EPA regulations will reduce coal-fired electricity by up to 30%.
- The dozens of House-passed bills to reduce energy costs and create good-paying jobs are being blocked by the Democratic-led Senate.
And then there’s this – the ugly, you might call it:
- The President continues to say no to the job-creating, oil producing Keystone XL Pipeline, despite near-universal support from the American people. Just yesterday, 44 groups urged Secretary of State John Kerry to end delays on the project, the most studied pipeline project in U.S. history.
But there’s a glimmer of hope. America is sitting on enough natural resources to become energy independent, which will create jobs and lower gas prices.
With a stagnant economy, too many Americans looking for jobs, and prices going up on everything , it’s time the Democrats in Washington did something to help lower energy costs for middle-class families.
That’s why House Republicans continue to say yes to energy, passing bill after bill to address rising costs and unleash America’s energy potential.
