Washington (CNN) - When gas prices started spiking again this month, President Barack Obama turned to a move that worked in the past: Make noise and talk tough about price gouging, then direct his attorney general to launch an investigation.
If that sounds familiar, it is. It's part of the rhetorical playbook politicians have used for years when gas prices go up - that is until prices fall and what felt like urgent ideas go back on the shelf.FULL STORY
NEW YORK (CNNMoney) - The high price of gasoline is changing the driving and spending habits of Americans, and the public blames speculators and oil companies for the price spike, according to a new CNN/Opinion Research Corporation survey.
Sixty-three percent of Americans say they have cut back on driving due to the high price of gas. And almost six in ten report spending less on other items due to the rise in prices at the pump, a sign of a spillover effect into the broader economy.FULL STORY
Washington (CNN) - Four-dollar-a-gallon gas sparked a partisan and predictable debate on the House floor Thursday about legislation Republicans argued would reduce prices at the pump by promoting more domestic energy production.
The GOP bill, which passed 266-149, is named the "Restarting American Offshore Leasing Now Act" and directs the Obama administration to move forward with leases for drilling in areas in the Gulf of Mexico and off the coast of Virginia that were already approved but were suspended after the BP oil disaster last year.
Washington (CNN)-President Obama reflected on pain at the gas pump during his weekly address Saturday.
Noting figures that suggest the economy is growing again with an increase of almost 2 million private sector jobs over the last 13 months, the president recognized it's "still too hard to find a job" and "rising gas prices mean real pain for our families at the pump."
Washington (CNN) – President Barack Obama confronted two political realities this week:
- Rising gas prices are bad for a politician's poll numbers
- There is almost nothing a politician can do about it, at least in the short run.
The national average for gas rose another eight-tenths of a cent in the last 24 hours, to $3.856 a gallon, according to AAA. That's the 32nd consecutive day with an increase. Prices have risen nearly 31 cents a gallon during that streak, or nearly 9 percent.
CNN Chief Political Correspondent Candy Crowley discusses the implications of the high gas prices for President Obama:
Washington (CNN)–President Barack Obama recognized the economic strain caused by soaring gas prices and stressed the importance of clean energy initiatives to reduce America's dependence on oil in the weekly address Saturday.
"Even if you haven't faced a job loss, it's still not easy out there," he said.
And he added that despite rising costs, paychecks are not getting any bigger.
WASHINGTON (CNN) - Prodded by growing public frustration over sharply rising gasoline prices, the Justice Department on Thursday announced the formation of a team - the "Oil and Gas Price Fraud Working Group - tasked with the goal of ensuring consumers are not victims of price gouging.
Gas prices exceeding $4 per gallon or higher are "tough" for most Americans, President Barack Obama told an audience in Reno, Nevada. "We are going to make sure that no one is taking advantage of American consumers for their own short-term gain."FULL STORY