Nevertheless, Obama is touting the lower prices, which injected billions into the improving U.S. economy. America is the number one producer of oil, number one producer of gas. Its helping to save drivers $1.10 a gallon at the pump over this time last year, the president told a crowd last week in Detroit. Ben Zycher, a former UCLA economist who also served on President Reagans Presidents Council of Economic Advisers, called it rather disingenuous for the president to take credit for the decline in oil prices and gasoline prices and the increase in incomes generated by increasing production. He added: Its somewhat amusing. Hes taking credit for an increase in production that has happened largely on private land and had nothing to do with federal government policies.
Posted on: Tue, 13 Jan 2015 10:57:22 +0000