Dissent

The recent rise in gas prices has unsurprisingly become a salient issue this election season. Republicans are predictably haranguing the Obama administration’s “outrageously anti-American” energy policy, as the national average price of gas nears $4 per gallon and oil trades above $100 per barrel. Political economists and energy experts have warned that higher gas prices could curtail the already anemic economic recovery, as beleaguered consumers endure diminished purchasing power and trim household spending in other areas, reducing aggregate demand and inducing further economic contraction. Businesses that depend heavily on transport...