Gas Prices and Presidential Power: Unpacking the Real Influences

by AutoExpert   |  11 April, 2024

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Politicians love to blame whoever's in the White House for everything, especially stuff like gas prices. Truth is, no president – red or blue – can wave a magic wand and make gas magically cheap. Why's that?

  • It's ALL About Supply and Demand: Think of it like those sneakers everyone wants. Not enough to go around? Prices go through the roof. Same deal with oil, which is what gas is made from.

  • The President Doesn't Control the World's Oil: America's got some oil, but in the grand scheme of things? Not much. Even doubling our production wouldn't make a huge difference.

  • Wars, Disasters, Pandemics... These mess with supply, driving up prices. Like, when the pandemic ended, everyone went back to driving, and BOOM! Oil had to catch up. Or that whole Ukraine thing – that made oil spike overnight.

Gas Prices

So, What CAN a President Do?

Not much, honestly, especially short-term. Here's the deal:

  • More Oil? Takes Years: Sure, ordering more drilling would eventually lower prices, but rigs, pipelines, workers... that's not a quick fix.

  • Emergency Oil Stash: Think of it like a piggy bank for when things are REALLY bad – wars, hurricanes, etc. Not meant for everyday price hikes. Biden even used some of it to deal with the Ukraine thing, but the effect was kinda "meh."

  • Gas Tax Is Political Dynamite: They COULD lower that, but getting everyone in Washington to agree? Don't bet on it.

Gas Prices

The Ugly Truth: If you HATE high gas prices, best thing YOU can do is drive less. Yeah, it sucks. But until we move away from oil altogether (which won't be tomorrow)... we're kinda stuck.

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