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Obama's Approval Rating Tanks as Gas Prices Soar [VIDEO]
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Boehner Open to Repealing Oil Company Tax Breaks
By not in system - AOL NewsWASHINGTON -- House Speaker John Boehner said Monday that Congress should "take a look at" repealing the multibillion-dollar tax subsidies enjoyed by the major oil companies. The Ohio Republican told "ABC World News" that the government is low on revenues and that oil companies "ought to be paying their fair share." A gallon of gasoline exceeds $4 in some parts of the country. "We certainly ought to take a look at it," Boehner said. "We're at a time when the federal government's short on revenues. We need to control spending but we need to have revenues to keep the government moving." For ...
United States' Mood Suffering With Economy [VIDEO]
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Gas Prices Loom as Re-Election Obstacle for Obama
By not in system - AOL NewsWASHINGTON - With gas prices climbing and little relief in sight, President Barack Obama is scrambling to get ahead of the latest potential obstacle to his re-election bid, even as Republicans are making plans to exploit the issue. No one seems more aware of the electoral peril than Obama himself. "My poll numbers go up and down depending on the latest crisis, and right now gas prices are weighing heavily on people," he told Democratic donors in Los Angeles this past week. In fact, Obama raised the issue unsolicited in a series of town meetings in Virginia, California and Nevada ...
Will High Gas Prices Disrupt the Economic Recovery? [VIDEO]
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Americans Starting to Cut Back on Driving as Gas Prices Rise
By not in system - AOL NewsNEW YORK -- With the price of gas above $3.50 a gallon in all but one state, there are signs that Americans are cutting back on driving, reversing a steady increase in demand for fuel as the economy improves. For five consecutive weeks, Americans have bought less gas than they did a year earlier, according to MasterCard Spending Pulse, which tracks the volume of gas sold at 140,000 service stations nationwide. Paul Sakuma, AP Daniel Dona pumps gas on March 31 at a Shell gas station in Menlo Park, Calif. With the price of gas above $3.50 per gallon in all but one ...
Opinion: There's No Silver Bullet for High Gas Prices
By not in system - AOL NewsAmerican motorists can't be blamed for viewing the current jump in gasoline prices as a potential precursor to even bigger problems down the road. Major oil disruptions in the Middle East have historically led to higher inflation, unsustainable negative balances of trade and recessions -- all in addition to the aggravation of paying more to fill up the tank. If we don't worry about interruptions in oil deliveries, we're suffering from historical amnesia. The loss of oil supplies from Libya so far, however, amounts to only about 1 percent of world oil production. Such shortages can generally ...
Opinion: End Obama's Policy of Higher Gas Prices
By not in system - AOL NewsGas prices are dangerously close to doubling since President Barack Obama was inaugurated. As American drivers and small-business owners feel the pain at the pump, he should reverse course and stop punishing consumers to promote a "green" agenda. Yes, the events in Egypt and Libya have affected global oil prices. But we suffered the highest gas prices for the month of December in our nation's history in 2010 -- before uprisings in the Middle East even began. Unilateral administration action is the first step toward providing economic relief during a fragile recovery. Another View on ...
Opinion: We Can't Drill Our Way Out of High Gas Prices
By not in system - AOL NewsAs the price of oil soars above $100 a barrel, Americans are experiencing sticker shock at the pump and economists are concerned about our fledgling economic recovery. Solutions exist that can get us off the oil market roller coaster, but they won't be found in more domestic oil fields. No matter how vocal the drilling supporters become, they still won't be able to address America's acute vulnerability to the whims of the global oil market. America consumes roughly one-quarter of the world's oil, yet we are home to less than 2 percent of the globe's proven oil reserves. So much for "Drill, ...
Gas Prices Leap 15 Cents in a Week
By not in system - AOL NewsA gallon of regular gas climbed to $3.503 on Sunday -- nearly 38 cents higher than a month ago and up 15 cents in a week, according to AAA, which posts gas prices daily. Oil hit $106 a barrel Monday as a nascent civil war in Libya seems likely to move the price of crude higher. ...
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