This morning, we have two videos to show you. They are completely unrelated. Totally, fully, and undoubtedly unrelated. First, via the Right Scoop, Fox News takes a look at the rate of issuance for drilling permits on federal land over the last five years, and discovers that, to no one’s great surprise, the Obama administration has issued far fewer permits than George Bush — perhaps as much as a third or more less:
Next — and did I mention that this is totally unrelated? — WJZ in Baltimore reports that gas prices have not peaked at all, but will start shooting upward again this spring and summer:
AAA says April is when the East Coast switches from winter fuel blends to the more expensive summer fuel blends. And for drivers that means topping off already abnormally high prices.
“What we’re about to see, the increases will just make it even worse but these are typical increase we would see seasonal,” said Ragina Averella, AAA spokeswoman.
Experts expect prices to jump 10 to 20 cents over the next few weeks before spiking in mid-May at around a record-breaking $4.25 a gallon.
“I actually expect it to go high,” Walter said. “I think $4.50 to $4.70 a gallon isn’t impossible.
But the slowdown in permit issuance for drilling on federal land is totally and completely unrelated to the price of gasoline. The White House keeps telling us that every time the subject comes up. As we know from our Acadaemia Institute economics lessons, increased supply never lowers price.
So, enjoy the videos, even though they are entirely separate and unrelated subjects.