A gas station sign shows rising prices in 2006. In 2011, the question of rising gas prices and what to do about it still haunts the nation. (Flickr user: awcole72)
This time last year, unrest in Libya sent oil prices climbing, adding pressure to an already struggling economy. Now, it looks like a similar scenario could happen this spring and summer: in retaliation for an embargo planned by the European Union, Iran has threatened to cut off oil supplies. Impacting virtually every aspect of the U.S. economy, these increased oil prices will almost certainly influence the election's climate.
Lisa Margonelli is a fellow at the New America Foundation and the author of "Oil On the Brain: Petroleum's Long Strange Trip to Your Tank."
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The show is a co-production of WNYC Radio and Public Radio International, in collaboration with New York Times Radio and WGBH Boston.
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Comments [2]
No mention of the XL Pipeline which would have been a massive boost to the US economy and offered cheaper oil which will now be a long, strange trip via tanker across the Pacific from Canada to China thanks to the Obama Administration.
Insulting an ally and aiding an economic rival seems to be the Obama Administration's idea of smart power.
What song was playing at the beginning of the segment? Thanks!
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