With Americans upset about rising gasoline prices, Republicans in the US Congress aim to fix the blame on one person when they return next week from recess: President Barack Obama. Congress wrapped up its last work session on April 15 with Democrats and Republicans in a blistering debate about budget deficits and the size of the federal government.
Now, Republican leaders in the House of Representatives aim to pivot to another hot-button issue: high gasoline prices that are hitting consumers who are already struggling to recover from a prolonged economic downturn. "Running on empty: Obama administration does nothing to address skyrocketing gas prices," screamed a press release on Tuesday from House Speaker John Boehner's office. Obama has entered the energy fray, too, urging oil-producing countries to increase output amid rising prices.
He also asked Congress to end billions of dollars worth of oil industry tax breaks - money that could be used for deficit-reduction or investing in cleaner alternative energy. Democrats have long argued that with the major oil companies enjoying healthy profits amid high prices, they no longer need the tax breaks. For example, even with setbacks related to last year's Gulf of Mexico oil spill, BP Wednesday reported profits of $5.5 billion in the first quarter.
The Republicans' focus on energy comes as the national retail price for regular gasoline has hit $3.88 a gallon, an increase of more than $1 a gallon compared to a year ago. Gas pump sticker shock could get worse as the looming US summer driving season hikes demand for gasoline and political unrest continues in Middle East oil-producing countries. All this has US motorists worried that gasoline prices could approach the record-high $4.11 per gallon of July 2008.
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