Gas prices in California and throughout the nation have jumped by more than a $1 a gallon since 2010. And Mitt Romney, the GOP’s presumptive presidential nominee, has been blaming President Obama, alleging that gas prices would be lower if the president had green-lighted more offshore drilling and the controversial Keystone XL pipeline that would bring tar sands oil from Canada to the Gulf Coast. However, a report this week by two-time Pulitzer Prize-winning journalist Eric Nalder reveals that there’s an oil glut right now, and that increasing the domestic oil supply will likely have no effect on gas prices.
The Current Oil Glut Proves that More Drilling Is Not the Answer
