Gingrich woos with prospect of $2 gallon gas

Money.com ^ | February 20, 2012 6:05 PM ET | BRIAN BAKST

[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.

[mylife]

$3 six pack? $5 Ribeye?

I’m with you all the way!

[DaxtonBrown]

[We all know that’s BS.]

BS is thinking gas has to be $5 a gallon.

[bigdaddy45]

A barrel of oil on the open international market is over $100. There is no WAY you’re going to get $2 gas at that price. The removal of what “government excess” exactly is going to get the price of a barrel of oil down to $50?

[Red Steel]

It’s the most basic economic question.

Increase the supply. Supply meets and exceed demand that creates competition, and the consumers benefit from the competition by lower prices.

[BfloGuy]

How do YOU back up that Newt could wave a magic wand and make gasoline $2 a gallon?\

You can't back that up. Newt is still my preferred candidate, but that he's lowered himself to Michelle Bachmann at her lowest says a lot about his expectations.

[bigdaddy45]

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”?

[TomGuy]

I remember $.19/9 per gallon

I remember $0.15 per gallon in the early 70s in northeastern Oklahoma. Gas wars were frequent and common. That ended about 1973 when prices started a stead rising.

[parksstp]

Didn’t Bachmann suggest something like this back in September? And if I remember, she was lampooned for it.

[stuck_in_new_orleans]

Desperation

[Flavius]

Sold

[Marcella]

“Eminently desirable for average commuting suburban Americans. Of course, this offer is as much advertisment of whoredom as an increase of minimum wage increase to the SEIU thugs. Why not offer free cheese, Newt, you whore?”

Don’t think your word is acceptable. I suggest you lose that word when referring to Newt.

[DaxtonBrown]

[Why not offer free cheese, Newt, you whore? ]

Santorum you gay castratti, don’t you realize gas was at $2.50 relatively recently? If you put curbs on the Fed (Gingrich’s idea, not Santorum’s) and opened the fields for drilling, this would most certainly happen.

[Red Steel]

Desperation

Nope.

[Christie at the beach]

It must be liberals on this thread-making every excuse in
the book not to have a solid turn out-it’s doom and can”t do attitude. Bitch about nothing getting done, then when someone promises a big change (which it can work as Newt explained), the hands fly out with magic wands and stubbornness. No wonder we are in such trouble. ( if Newt gets in, there will be lower gas prices again since he will set forth better polices)

[Marcella]

I see it, Red. Probably here we go again. Hope not.

[bigdaddy45]

uhhh....nooo..... you know what it sounds like? “Hope and Change”. With nothing to back it up. Sound familiar?

[Eric in the Ozarks]

I owned a ‘66 Chevy with the 396 rat motor. I think i got 8 miles to the gallon but it didn’t matter.

[al44]

Santorum you gay castratti ...

What was it, the sweater vests that gave it away?

[DaxtonBrown]

[Pandering is pandering.]

Sort of the way Santorum panders for manufacturers.

[Michael Barnes]

First off by reducing Government, i.e. taxes on individuals and corporations. Secondly by tossing into the trash bin our current (STUPID) energy policy (”blends” of gasolines) and finally, getting rid of entire Federal Agencies (EPA for starters) and making these asinine lawsuits the greenies bring “loser pays” expenses by doing what Newt said, start arresting some judges that are legislating from the bench (siding with their ideology; my words).