Democrats and Republicans are maneuvering to deflect and direct blame for the painful spike in gas prices. Republican presidential candidates say the looming prospect of $4-per-gallon gas is a direct result of President Barack Obama’s reluctance to resume offshore drilling since the BP oil spill, The Wall Street Journal
The White House, meanwhile, pounced on a remark of Republican House Speaker John Boehner, who said on Monday that eliminating tax breaks for oil companies is “certainly something we should be looking at.” The White House gleefully agreed, even as Boehner’s office backed away from his earlier statement and said the president’s approach would raise both taxes and gas prices.
House Republicans plan to introduce bills expanding domestic oil production when they return from recess next week. House Democrats are countering with a plan to force floor votes on cutting subsidies for oil companies.
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