Average Gas Prices in US hit $3.909 Last Week and Republicans Still Lie.

This morning President Obama called once again for the end of subsidies for oil companies in light of another round of reported record breaking quarterly profits for oil corporations. The president continues his calls to end the 4 billion per year government gas subsidies to the oil industry and to invest in clean energy. This comes as oil companies are reporting record profits and the cost per gallon of gasoline have reached nearly 4 dollars a gallon.

“While rising gas prices mean real pain for our families at the pump, they also mean bigger profits for oil companies,” he said. ‘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.’’

But the Republican response counters that the cost of gasoline in the US is the responsibility of the president himself. This is an interesting position to take since they denied the power of the president to control consumer pricing during the Bush administration (the last time prices for gas were over $4/gallon). Their argument today holds that it is because of Obama’s policies that limit domestic oil production (drill baby drill) and unnecessary environmental regulations are driving up the price for consumers.

Unfortunately, once again, the Republican position is light on facts. They ignore the record breaking profits (over $30 billion for the top 5 oil companies) at a time when consumers are suffering. The statement that domestic oil production is down is flat out false. Drilling leases are being given out at a faster pace than under W Bush. The companies themselves are simply not drilling- an interesting way to drive up oil prices by cutting supply that is happening around the globe. Further, environmental regulations- even those that have proven ineffective in light of the BP blowout in the gulf- have remained unchanged under the Obama Administration.

But let us suppose that everything the Republicans are saying is true- go ahead and twist your brains into that reality distorting funk necessary to hold such positions. Even then, their position does nothing to bring relief to the consumer and only serves to advance their political agenda. They have offered no bill to deregulate. Other than using it as a rally cry they have not advanced any bill to increase domestic oil production. They have not demonstrated how increased domestic oil production would bring the price down. Contrary to the policies they ran on in 2010 to reduce spending they seem committed to maintaining a subsidy for companies that are reporting quarterly profits unmatched by any business in the history of the world. It would be hard to argue that a subsidy that is dwarfed by the profits of the recipient should be maintained.

There could probably be an intelligent debate about these subsidies. What was their purpose when they we instated and do they still serve to meet that goal would be serious topics of conversation. But as long as you have a right wing that would rather spread fiction and attack the opposition than stand on the strength of their position, that serious conversation will not happen.