One of the most evergreen topics for any out-of-power party is the gas prices this time of year.
Here’s a hint – the sitting president has almost nothing to do with fluctuations in spot gas prices (and no, I said pretty much the same thing when gas prices rose to $4, twice, during the Obama years; long-term prices are another matter, but the fracking boom blunted Obama’s efforts there).
Now it’s evidently Democrats’ turn again. The Daily Beast reports Monday that they plan to make rising gas prices the centerpiece of their summer election-year attacks against President Donald Trump. Already Chuck Schumer has taken to the Senate floor to attack Trump on the issue, blaming the price increases on his decision to pull out of the Iran deal (an Iran deal Schumer supposedly opposes, but good luck figuring that one out).
But as with the attacks against Bush and Obama, the attack on Trump lacks teeth. Economists widely accept that presidents have only minimal control over gas prices. As University of Chicago economist and Obama advisor Richard H. Thaler noted in 2012, while most Americans think presidents can control gas prices, “any respectable economist” will tell you they cannot.
It’s not like there’s no real news out there, I mean…