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Any U.S. president would have little to do with this, as the OPEC countries operate independently based on their own production incentives, much to the chagrin of Western leaders.
By Charles Riley HONG KONG (CNNMoney) -- A disagreement over gas prices and energy policy produced a heated tit-for-tat argument between Mitt Romney and President Obama at the second presidential ...
American drivers had it rough back in 1981. The average price of gasoline spiked to $1.353 a gallon that year -- up from $1.221 in 1980 and more than double the price just three years earlier....
Since the time of Ulysses S. Grant in 1874, Martha's Vineyard has been a popular vacation site for presidents. Presidents who have taken a vacation there include John F. Kennedy, Bill Clinton, and Barack Obama. [1] [2] The presidential vacations can be risky in terms of popularity and practical safety:
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The two political opponents purported this to be a short-term fix for gas prices that were set to hit $4 a gallon in the summer of 2008. With economic woes topping the American peoples' list of concerns, [4] this became a hotly debated issue in the 2008 U.S. Presidential Election.
The Lowering Gasoline Prices to Fuel an America That Works Act of 2014 is a bill that would revise existing laws and policies regarding the development of oil and gas resources on the Outer Continental Shelf. [1] The bill is intended to increase domestic energy production and lower gas prices. [2] [3]
"At the end of the day, one president in one country in a world with 200-some countries is rather powerless to control the price of a global commodity," GasBuddy's Patrick De Haan said.