We Get What We Vote For - Part IV

Now, what was the biggest economic story of the year (besides that Mortgage thingy)? Why, the extra high price of Gas of course, and the resulting detrimental effects on the economy.

Every person and every segment of the economy felt the effects as Gas edged north of $4 per gallon. Everyone was hoping for a big change to help them out. So you would think that a politician that won with a campaign of Hope & Change would want his administration to help continue the current trend of dropping gas prices.

Unfortunately, as pointed out by The Foundry blog over at Heritage Foundation, Mr. Obama's selections for Secretary of Energy actually wouldn't mind seeing Gas priced much higher than it was this summer.

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.”

So says Dr Steven Chu, Obama's selection for the Energy post.

So, what do Europe's Gas prices look like?

Well, in July, when average U.S. prices were topping off at $4.34, Gas in the Netherlands was $10.64. The cheapest of the big European countries cost almost $9 per gallon. Right now the average prices in the U.S. stand at $1.97, whereas the average across Europe is about $5.50. For the math impaired, that is nearly 3 times the cost that we pay. The funny thing is, the actual base cost of the gasoline isn't that much different in Europe than it is in the U.S. It is just that European countries tack on taxes such that taxes make up 65-70+% of the price.


(Source: DOE)

Thus, the incoming senior federal bureaucrat for energy issues wants us all to pay double the painful prices we were paying this summer, or triple what we pay now? In the normal touchy-feely liberal parlance, How does that make you feel, America?

But hey...you got the Hope and Change you voted for, right? Too bad you didn't read the fine print....