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Obama's Approval Dives as Gas Prices Rise

March 12, 2012 RSS Feed Print

President Obama isn't home free in his quest for a second term despite a run of relatively good economic news. The latest Washington Post/ABC News poll finds that disapproval of Obama's handling of the economy is getting worse as a result of rising gasoline prices.

[See a collection of political cartoons on gas prices.]

Nearly two-thirds of Americans say they disapprove of the way the president is handling the issue of rising gasoline prices, and only 26 percent approve of his work on the issue, the poll finds. Most Americans say higher gas prices are hurting their family finances.

The price per gallon of regular has risen above $3.80 per gallon nationally, with prices going up 3.4 cents per gallon over the last weekend alone, according to a survey for AAA, an organization representing motorists.

Fifty-nine percent of Americans give Obama negative ratings on the overall economy, and 50 percent give him strongly negative ratings, a deterioration by nine percentage points from last month. Earlier this month, Obama seemed to be moving beyond the long-time trouble in the economy.

[How Mother Nature Trumps Rising Gas Prices.]

One reason was the favorable news about job creation and unemployment. As recently as Friday, the government reported that there was a gain of 227,000 jobs in the past month.

But as the poll suggests, perceptions are changing and Americans seem to be growing impatient again that the economy isn't strengthening at a fast-enough rate.

Not only are public views of Obama's handling of the economy dropping, so is public approval of how he is handling his job. Only 46 percent now approve and 50 percent disapprove, a switch from early February when 50 percent approved and 46 percent disapproved, according to the Post/ABC poll.

Tags:
gas prices,
Barack Obama,
Obama administration,
politics

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robert of NJ:

Assuming you took Economics 101, that is YOUR conclusion of why there are higher oil prices; your conclusion is not, necessarily, fact.

Excerpts from Economics 102:

http://www.econbrowser.com/archives/2007/10/does_dollar_wea_1.html

ann keenan of MI 11:13PM March 15, 2012

How does the weak dollar affect the price of oil and gasoline? It seems if our dollar has been debased by printing tons of paper dollars over the past 4 years that this may be catching up with the price of oil? Is that a possible cause and effect to the increase to the cost of oil?

If you sold your oil for $85 per barrel in 2008 and the dollar was debased by 25%, what would the price be increased to level the price? Try $108 per barrel........

What is the price of oil today?

Who has printed five trillion of new debt?

Who is the cause of this huge oil increase?

Who ? Did you say President Obama.........

This is economics 101.

robert of NJ 2:31PM March 15, 2012

I am still trying to figure out how most people think that governments are responsible for setting oil pricing, and, specifically, it is President Obama who can control the price of oil. I see lots of Conservative and Far Right Websites that claim this, and even offer "proof." Why do they suddenly come up with this alleged "proof" when anyone in the oil business and the "oil barons" can tell you that President Obama's has negligible control of prices--oil prices are set in the World market.

In addition, judging by the Websites of the Right Wing, it is an obvious political attack on Obama, according to primary documentation provided by FactCheck.org:

http://www.factcheck.org/2011/03/is-obama-to-blame-for-4-gasoline/

Additionally, some of the complications from oil pricing in the U.S. was wrought by House and Senate, and Big Oil companies:

"Big Oil companies could also benefit from as much as $53 billion in unpaid royalties from their production of oil from federal waters—oil owned by American taxpayers. Rep. Ed Markey (D-MA), ranking Democrat on the House Natural Resources Committee, attempted to halt this huge taxpayer rip-off by offering an amendment to the House Republicans' fiscal year 2011 budget.

The amendment to the Republicans' spending bill would have fixed a flaw put in place by a Republican-controlled Congress in 1995 and seek to recover funds from faulty drilling leases in the Gulf of Mexico that allow oil companies to drill without paying any royalties. The Government Accountability Office (GAO) has estimated that taxpayers could lose up to an additional $53 billion over the next 25 years as a result of royalty-free drilling when oil prices are high. The Interior Department also informed Rep. Markey that American taxpayers will lose $1.5 billion just this year from this free drilling.

Unfortunately, his amendment lost on a vote of 174-251. Only 11 Republican House members (5 percent of the caucus) voted to end this costly practice while 25 Democrats (13 percent of the caucus) voted to maintain these handouts."

http://www.americanprogress.org/issues/2011/02/profits_v_prices.html

http://www.economist.com/blogs/freeexchange/2012/02/americas-economy

http://cowboybyte.com/5203/analysts-white-house-congress-have-little-control-over-rising-gas-prices/

Why didn't Daily Finance and AAA mention President Obama?

http://www.dailyfinance.com/2011/03/29/gas-prices-world-high-low-country-pain-pump/

ann keenan of MI 2:04AM March 13, 2012

Ken Walsh's Washington

A longtime chief White House correspondent for U.S. News & World Report, Kenneth T. Walsh has covered five presidents beginning with Ronald Reagan. Along with other U.S. News writers, he continues to provide insight into the White House of Barack Obama and the world of presidential campaigns.

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