by David Holt
With the average price per gallon in the U.S. reaching $3.86 this month, it’s no wonder President Obama is talking about energy issues. The increase of 49 cents a gallon over the past two months alone translates to a $35 billion price tag for the broader economy – that’s just in direct costs that do not include related cost increases for transportation and other goods.
Fortunately, the President seems to understand this. Beginning with his State of the Union address in January, the President has stressed the importance of an all-of-the-above approach to energy – which indeed we will need to fulfill our long-term energy and security needs.