PPI Senior Fellow, Roger Ballentine, explains in The Hill why the cost of gasoline matters far more than the price:
“Recently, it seems the debates on Capitol Hill make even less sense than usual.”
“Look closely and you will find that the same politicians who demand more domestic oil production to “relieve pain at the pump”, simultaneously and inconsistently, attack the Obama administration’s efforts to increase fuel economy standards.”
“Take Rep. Darrell Issa (R-Calif.), for example, the chairman of the powerful House Oversight Committee. He’s launched a needless investigation into the administration’s new mileage standards, even though they were negotiated with—not imposed upon—Detroit. Most importantly, Rep. Issa blindly ignores that boosting fuel efficiency is a sure-fire way to lower gas costs for American families. Republicans can chant “drill, baby, drill” all they want, but they can’t repeal the basic laws of economics.”
