Homework Assignment 2

The president has very little impact on the gas prices. It is based upon market factors rather than the U.S. Federal or economic policies. Furthermore, gas prices are set on global markets by the price of a barrel of oil. And the U.S. alone could not produce enough oil to spend money on oil from other countries. That process would take years to do. Even if the U.S. started drilling for oil, it would mean that OPEC would limit their production based on how much oil America got. It is largely a global market affect. If the price of oil goes up, so does the gas and vice versa. Sure a president can have visions of trying their best to impact the spendings on gas, but at the end of the day, it is a global issue and not a presidential issue.





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