The Pelosi Premium

John Campbell
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Posted: May 01, 2008 10:30 AM

Almost two years ago to the day, Speaker of the House Nancy Pelosi (D-CA), announced that she had a “commonsense plan to help bring down skyrocketing gas prices (Release 4/24/06)”.

With gas prices hovering precariously close to $4 a gallon, I can’t help but wonder when this commonsense plan is going to show up.  Despite the elaborate rhetoric Speaker Pelosi has fed to the American people, she doesn’t really have a “commonsense plan” to bring gas prices down.  In fact since January of 2007, when Democrats took control of Congress, the price of gas was $2.33; today the average price of gas is $3.62.  A $1.29 increase is just over a year.  That is a 55% increase since the beginning of the 110th Congress.

Pelosi’s leadership has resulted in the handcuffing of domestic energy exploration and now the powerful Chairman of the House Committee on Energy and Commerce wants to impose a 50 cent tax increase per gallon in order to discourage consumption of gasoline.

Is the premium of Pelosi's leadership really worth it?

All gas price estimates courtesy of AAA and can be viewed at www.fuelgaugereport.com