We have an update from a well informed Tatler source responding to yesterday’s post pointing out that White House Press Secretary Robert Gibbs refused to answer the question of what would happen politically if gasoline prices topped $4 per gallon. Yesterday Gibbs told White House reporters “there are many people that would get upset at me if I started to opine on oil and gas prices, so I won’t.”
As it turns out, the administration’s January 11th BP oil drilling commission report might contribute to the misery of consumers paying more than $4 per gallon at the pump. The commission, stacked with environmentalists and big Democratic donors, decided the best policy is to end oil drilling by burying it in red tape. MarketWatch.com reported yesterday that integrated oil companies are “’gearing up’ for the Federal regulations that will make it more expensive to explore for crude oil in the U.S. offshore leases.”
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