If Americans want some cheap fuel for the economy, it would be best to vote GOP this time around because only the GOP has a plan for inexpensive, reliable domestic energy production. Combined with a lifting of restrictions on exportation of unrefined oil, fuel prices could be significantly lower than they are now.
And where they are now—lower—has helped the economy greatly in the last month.
For years I’ve puzzled over how so many Americans have lost the connection between inexpensive, reliable energy sources and a robust economy. But this month’s retail sales numbers make the connection clear. Retail sales were up in line with expectations. The rise in sales largely reflected lower gas prices, which meant that more money was available to consumers to spend on something besides fuel.
“U.S. retail sales rose in August as Americans bought automobiles and a range of other goods,” reports Reuters, “which should ease some concerns about consumer spending and support expectations for sturdy growth in the third quarter…. While sales at service stations fell 0.8 percent, that reflected declining gasoline prices, which should free up income and support discretionary spending in the months ahead.”
While the economy has adjusted to the reality of higher gas prices and higher taxes under Obama, an economy that has lower gas prices and lower taxes does better than one that does not. Money moves from fuel costs and tax receipts when those costs go down into, say, electronics purchases like the iPhone 6.
That’s simple math and common sense.
That of course is why the GOP skunks the Democrats when it comes to energy policy: math and common sense are never liberal strong suits.
If you want an overarching bureaucracy dedicated to slowing down the economy, sapping its vitality and drive, and denying consumers choice in the marketplace, then the Democrats are definitely for you.
That’s been fairly obvious since 2006.
But if you want the best post-Obama recovery the world will ever see, then vote GOP.
Since Obama was elected in 2008, a revolution in energy has transformed the world. The United States has never, ever had more proven reserves of cheap so-called fossil fuels. Even with the government doing all it can to stop energy production, there is a massive glut of some types of oil because refineries are running at capacity to process that fuel. To some extent however this increase in production here at home has yet to be felt in worldwide oil markets. The oil produced here at home won’t go into the open market, but will stay here due to the oil exportation ban.
We can buy oil from foreigners; we just can’t sell them oil.
Yeah, the ban is stupid; the ban is shortsighted; the ban is non-economical. And that of course is why the Democrats like it.
If there were a single policy area that our next president could concentrate on to right our economy it would be in supporting domestic energy production. And lower taxes. And repealing Obamacare. And reforming welfare. Oh, and don’t forget education: fixing education would be huge. We could also use labor union reform to be honest with you. And a better funded military.
So please, vote GOP.
Better yet, help the GOP. Because the GOP needs all the help it can get, even with these generous assists from Democrats.