[expat_panama]

This is controversial. 

The left would be correct by arguing that Obama actually broke his promise and failed miserably to continue the eco-friendly trend in energy price increases he inherited from the previous green administration.  Then again, the regime can always blame the falling prices for energy, gasoline --and coal as well--  on the obstructionist Republican controlled House that ended the glorious energy inflation we had with the Pelosi-led 111th Congress.  They just won't mention the abysmal energy deflation with the 110th...

The economics of this is simple enough, energy prices are volatile and for a few years now they've sloughed off.   The politics is easy to grasp too although it pretty much means we throw logic out the window.

[Wyatt's Torch]

One major fallacy the right uses is "gas was under $2 when Obama came to office and now it's close to $4" - Yeah that happens in a major economic slowdown like we saw in late 2008 and most of 2009. Yes it is technically correct but largely irrelevant to anything having to do with policy. Gas and oil prices recovered to more "normal" levels during the current recovery. And for those that want to "drill here, drill now!" well, we are thanks to fracking technology (output levels are the highest since the early 80's). You also cannot have low oil prices and output at the same rate. Bakken and Eagle Ford have breakeven rates over $60/bbl. <$2 gas and $40 oil are gone.