Whenever prices at gas stations start going up people tend to start blaming the person in charge of our country, the president. But in all reality the prices of gasoline really are out of the control of them. Gas, just like any other product, is priced on the demand and also the availability of it. The only true way for America to not have to worry about gas prices would be to do away with the need of it. By using oil more efficiently and by developing alternative sources of fuel would be the overall best way for America to achieve this.
New York Times said, “We consume about 20 percent of the world’s oil but hold only 2 percent of the oil reserves. That means we are, in economics jargon, “price takers.” Domestic production has increased during the Obama administration, but it has had minimal effects on global prices because, as producers, we are just too small to matter much. And even if domestic oil companies further increased production, they would sell to the highest global bidder.”
Basically what this means is that we as Americans have to take whatever price that is given to us since the gasoline and oil does not come from our own soil. Also the more oil that is produced the more it would cost since many other countries all would bid on it, making the price depend on who wins it.