DOYLE MCMANUS: Hot air expands and rises with the price of gasoline

By The Associated Press

When the price of gasoline rises, the supply of hot air expands. Just look at the recent GOP attacks blaming President Obama for prices that exceed $4 a gallon in some parts of the country.
Not only is Obama responsible, according to some Republicans, he’s downright pleased. As Mitt Romney put it last week to Fox News, “There’s no question that when he ran for office, he said he wanted to see gasoline prices go up.”
But there are some problems with Romney’s statement. First, it’s false. Obama never said he wanted to see gasoline prices go up – although it’s true that his Energy secretary, Steven Chu, once argued that higher prices would be good for conservation. (That was when Chu was a physics professor; once he became a Cabinet secretary, he recanted that view.)
Second, Obama’s policies in office haven’t held down the oil supply or pushed prices up; U.S. oil output is at its highest point since 2003.
Third, and most important, the president doesn’t set the price of gasoline; the global market does.
That’s why gasoline prices have risen all over the world, not only in the United States. Germany and Britain aren’t ruled by Barack Obama, but that hasn’t spared them from price increases.
Of course, Obama can’t be too surprised by the GOP attacks. After all, when he ran for president in 2008, he blamed then-President George W. Bush for high gasoline prices, just as his opponents are blaming him now.
It’s no wonder the president has spent so much energy recently promoting himself as a friend of domestic production. Last week, he hopscotched around the nation’s oil patch for a series of photo opportunities (derricks, pipelines, solar panels), arguing along the way that he’s in favor of more energy.
He pleased environmentalists last year by blocking permission for a new pipeline from Canada’s shale oil fields to the refineries of Texas. But last week, safe from any primary challenges on his left, he signaled that the pipeline might get his OK after election day. “We’ll be happy to review future permits,” he said as environmentalists howled.
America’s voters, subjected to these gas fumes from both sides, have reacted remarkably calmly, and arguably more sensibly than most of the politicians who would lead them.
Is there anything a president can do to affect the price of gasoline over the long run? In fact, says David G. Victor, an energy scholar at UC San Diego, there is one thing: “innovation.”
“The most interesting changes in the energy market over the last 10 years have come about because of unexpected technological innovation,” he told me, pointing to the new techniques for extracting natural gas and oil from shale – gas and oil that were once inaccessible.
Last week, Rep.Paul D. Ryan, R-Wis., unveiled a new Republican budget proposal that Romney and other GOP candidates quickly endorsed. Ryan’s budget would eliminate federal subsidies and tax breaks for alternative energy firms and would slash funding for energy research.
Obama, on the other hand, wants to continue funding alternative energy projects but end tax breaks for oil and gas drilling. That should give voters a nice, clear choice on energy issues when they decide which party to support in the fall.
Doyle McManus is a columnist for The Los Angeles Times. Readers may send him email at doyle.mcmanus@latimes.com.