Tag Archive for 'Gas Prices'

Poll Results: What Will Make Gas Prices Come Down?

The price of gasoline is up again. What do you think could be done to  make it come down?Photo courtesy Good Housekeeping
5% - Oil companies should stop gouging customers.
46% - Obama should approve the Keystone Pipeline.
22% - Stop oil speculators from driving up the price of crude.
27% - The price of gas is a product of supply and demand market forces.

Jim’s Comments:

As you can see, most small business owners believe–correctly I think–that approving the Keystone Pipeline would go a long way to bringing down crude oil prices, and therefore gasoline prices. There is a precedent for this. In 2008, when crude was $140 per barrel, President Bush merely hinted that he might consider releasing oil from the strategic reserve, oil prices plummeted and so did gas at the pump.

If President Obama is really as interested in helping the poor and the middle class as he says, he would take every step possible to contribute to lower gas prices.  And the first piece of low-hanging fruit he could pick to accomplish this would be to approve the Pipeline.

SBA Poll: Who or what is responsible for the rise in gas prices

The Question:
Gasoline prices are up sharply and have doubled since Obama’s first election. Who or what is most responsible for this price hike?

20% - No one person or thing. It’s just supply and demand

13% - It’s the greedy oil industry - refiners, producers, OPEC

42% - Obama’s green agenda and anti-carbon policies contribute to high gas prices

24% - We’re all responsible because of our dependence on carbon fuel

My Comments:
The average price for gasoline in the U.S. has essentially doubled to almost $4 a gallon since President Obama began his first term. We wanted to know who you thought was the most responsible for this increase, so in our poll last week we gave you four possible options.

As you can see, one-fifth of our sample thinks the price of gas is just market driven, with 13% blaming oil producing countries and corporations. Almost one-fourth of you allowed that our collective dependence on carbon fuel makes us all to blame for high gas prices. But the big group, 42%, puts the blame on President Obama and his ideology and policies.

On that last response, there is precedent for a president’s behavior affecting oil prices. When crude prices last reached a high level, President George W. Bush merely announced his intention to encourage more oil drilling in the U.S. and prices dropped like a stone. I believe if Obama wanted lower gas prices, he could do something similar, like reverse his position on the Keystone pipeline and his opposition to drilling. Remember, Bush didn’t do anything different, he just announced his intentions. I think the president should give that “announce” thing a try, don’t you?

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Small Business Advocate Poll: Who’s responsible for gas prices?

The Question:
The price of gas is going up. How much, if anything, do you believe President Obama contributed to this increase?

18% - None - Market force, not politics are to blame for gas prices.

31% - 100% - Obama’s policies have directly or indirectly caused this increase.

51% - 50-50 - Markets are in play, but presidents have ways to influence gas prices.

Jim’s Comments:
As noted in Tuesday’s post, the condition of the economy, with emphasis on unemployment, will play a big part in the outcome of the 2012 presidential election. One other component that hits every American in the pocket is the price of gasoline, which right now is very high. Our question this week was designed to find out what small business owners think about who or what contributes to such high prices.

As you can see, more than eight of ten of our respondents think President Obama has caused or influenced the high prices. If you like politics, it will be very interesting to watch the President respond to the politically charged economic element of gas prices over the next eight months.

Check out more great SBA content HERE!

Take this week’s poll HERE!

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