This has gotten ridiculous. Newt Gingrich (granted, his views now seem less relevant than they did a few weeks back as he sinks in the polls) has again repeated the oil industry’s big lie about EPA and gas prices. See the link and excerpt below.
As you will recall, the oil industry commissioned a study which hypothesized that the EPA would make various changes to gasoline, including so-called vapor pressure. And the industry charged the various changes would add up to a quarter a gallon in costs.
But EPA is NOT planning such an extensive change to gasoline. It has explored reducing the sulfur content of gas – a modest change that would cost less than a penny a gallon, starting around 2017. That change would make every car on the road cleaner because lower sulfur levels would make catalytic converters more effective in eliminating smog-forming pollution.
But politics being what it is, the truth doesn’t seem to matter.
It is time for the White House to set the record straight here. The President is making a big speech on energy in Florida tomorrow. He should use this as an opportunity to clarify that he fully backs the EPA plan to clean up gasoline because that would be the single most effective strategy possible to reduce smog levels across America. And it would have ZERO immediate impact on gasoline prices, and only a negligible less-than-a-penny impact five years from now.
White House silence on this merely permits the demagogues to continue ranting.
…To show you how far this is going: Even though we have today the highest price average cost of gasoline in history. That’s right, President Obama has taken us from $1.89 to the most expensive gasoline on average we have ever had. They are still not satisfied. The Environmental Protection Agency under President Obama has a proposal for a brand new regulation that would, on average, raise the cost of gasoline another $0.25.