Posted on 02/20/2012 5:52:44 PM PST by Red Steel
TULSA, Okla. (AP) - Republican presidential candidate Newt Gingrich is dangling the prospect of gas as low as $2 a gallon if he's elected.
The former House speaker has spoken in the past of gas dropping to $2.50 a gallon under a Gingrich administration. Monday's prediction, coming as Gingrich campaigned in Oklahoma, contrasts sharply with rival Rick Santorum, who told an Ohio audience that big-city Americans should brace themselves for $5-a-gallon gas.
Both candidates are citing new sensitivity over rising pump prices to push for relaxed regulation on domestic oil production.
According to AAA's daily fuel gauge, the national average Monday for a gallon of regular gas was $3.56.
Gingrich and Santorum have been highlighting oil exploration in North Dakota and slamming the Obama administration for delaying a Canada-to-Texas oil pipeline.
Republican presidential candidate Newt Gingrich dangled the prospect of gas as low as $2 a gallon if he's elected, playing off voter angst about rising prices at the pump.
The former House speaker has spoken in the past of gas dropping to $2.50 a gallon under a Gingrich administration. Monday's prediction came as Gingrich campaigned in Oklahoma, where the oil and natural gas sector is vital to a bustling state economy.
"With Gingrich policies, what we know is we will dramatically expand our independence in the world market, dramatically expand our capacity to produce energy without regard to our foreign potential enemies and in the process prices will clearly be a lot lower," Gingrich said. "Now, I picked $2.50 as a stabilizing price for capital investment reasons. It could easily go down to $2."
According to AAA's daily fuel gauge, a gallon of regular gas was approaching $4 in some places and even topped it in California.
(Excerpt) Read more at money.msn.com ...
Suggest away.
Newton has acted in Newton’s interests ever since 1992 when he realized he could manipulate public opinion to his advantage. 1996 proved him wrong and his friends, the Tofflers, and the intervening years have confirmed the same.
I will not, and cannot, repent of my convictions.
I know you think you were being smart with your snark, but you were showing your ignorance instead. What Newt was saying is that the free market would and could get gas down to two bucks or thereabouts if government would get the hell out of the way. Maybe your sweater vest is so tight the blood flow to your brain is compressed.
Gasoline in the range of $2.50 per gallon would be possible much more quickly than you may think. During the Arab oil embargo of the Carter years the price per barrel was pretty high. Deregulation under Reagan started a domestic energy production boom. Arab countries started flooding the market with oil, the price of which dropped like a stone. Because of the lower price (and profits) domestic drilling slowed...but we had much cheaper energy costs, which helped fuel the great economic expansion that resulted. We start drilling...the same thing will happen again. The Arabs are nothing if not predictable.
Just electing a Republican Senate and a Republican President will probably in of itself cause a dramatic decrease in a gallon of gas perhaps as much as a dollar. I few oil drilling and pipe projects and a strengthening of the $USD could easily cause another dollar drop. $2.00 / gal is very reasonable.
Get a better answer.
[In 1970 you could buy a great car brand new for $5000. We’ll never see that price again. Does pointing that out make me “scary”?]
It certainly does because it means you are ignorant both of monetary policy and free market economics unfetterd by govenment over-regulation. Scary indeed.
When Washington can control the economy, please alert me. Until then, their rhetoric is little more than flatulence.
Vote Newt = $2 gas....Vote commie obama = $7 gas...
Life with the peasants is frustrating tonight, ain’t it? Perhaps the irony of Working Class Filth’s forum name is lost on him. Wouldn’t be the only irony lost IMO.
[What was it, the sweater vests that gave it away?]
I just think I got a freebie. When someone called Gingrich a whore I went all in for Santorum as a gay castrati. Though that sweater vest does give pause.
Hi, C. Edmund, glad to see you on this thread.
The 40th posts says the magic word, "Deregulation." :-)
Are you really that ignorant - or are you pretending to be for your temporary argument’s sake. This is all about getting the control Washington NOW HAS the hell OUT of the oil industry. The free market price of gas would be two bucks or less - something you would know if you understood a damned thing about the market realities of energy. Which you don’t.
A 46 minute video on Newt’s Energy Plan gives a lot of insight on how he thinks we can achieve $2.00 gas prices again. His plan would create thousands of good paying jobs and the lower gas prices would boost the economy across the board. It has been linked on FR before, but I didn’t save it and don’t have time to search right now.
Newt is the originator of Drill Here, Drill Now, Pay Less and has been advocating abolishing the EPA since 2008. EPA Radicals are why we don’t have the Keystone Pipeline being built. Obama is controlled by them.
Hi, C. Edmund, glad to see you on this thread.
... and a chicken in every pot?
ROTFLMAO (~ ;
I know enough to not predict what price structure will evolve from promises that are given to my benefit - especially when my star is fading. Why not promise the universe?
Some cheese with your whine?
My deepest apologies to you and condolences for your fading standing as a big time scribe on Newton’s behalf.
You're kidding, right? Just look what's happened to the economy since BamBam has put his "boot on the neck" of so many industries via overstepping regulations and healthcare mandates.
What Newt has promised to repeal (BammyScare) or do away with on day one will immediately effect our economy in a very positive way. Maybe you should study up on Newt's speeches to get the facts straight...instead of passing "flatulence".
[When Washington can control the economy, please alert me. Until then, their rhetoric is little more than flatulence.]
It certainly does control the economy, unless you believe huge deficits had no detrimental effects on our position. Gingrich and Paul would rein in the Fed, which would have a huge impact on the economy, causing a difficult (but needed) austerity leading to a drop oin spending.
I believe your rhetoric is the flatulence source. I could write a whole book on the subject of Washington’s ability to influence the economy.
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