03 May '11, 2pm

Breaking: Tim Pawlenty doesn’t understand how gas prices work

Presidential hopeful Tim Pawlenty doesn't like high gas prices. Unfortunately, he apparently has no idea where they come from. Well, Tim, when a congressional GOP loves an oil industry very much ... Pawlenty complained that Obama is "proposing is a tax increase on energy at a time when the gas is $4 a gallon," adding that the idea is "ludicrous." Well, that's technically true; Obama's proposing a tax increase in the sense that he wants to reduce handouts to oil and gas companies, and yes, he's doing it at a time when gas is $4 a gallon. But the two have nothing to do with each other -- nixing the subsidies won't increase prices at the pump. And T-Paw's pet solution, increased exploration and drilling, won't lower them. Unregulated oil and gas speculation , on the other hand ... now THAT's where you get high gas prices. That and the stork.

Full article: http://www.grist.org/list/2011-05-03-tim-pawlenty-doesnt-...

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