30 Apr '11, 2pm
Environmental Economics: He said, he said
The funny thing is, high gas prices are mostly a good thing (Gas prices spur sound and fury ...): “When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right,” President Obama said in his weekly address on Saturday. But in the Republican response, Rep. James Lankford of Oklahoma countered: “For more than two years, his administration has knowingly increased energy prices by choking off new sources of traditional American energy and smothering our economy in new energy regulations. Last week, Mr. Obama touched off the latest flurry with a letter to Congressional leaders last week calling for the repeal of $4 billion a year in tax incentives for domestic oil and gas production, saying the industry was doing very well, thank you, and needed no he...