Fewer Voters Blame Pres. Obama for Gas Prices

Personally, when I see a hyperpartisan political opponent of a sitting president prattle on about how he’s responsible for high gas prices, I generally roll my eyes. (Truth be told, I generally roll my eyes when hyperpartisan people say anything.) It just seems like there are a lot of factors — OPEC-related and the like — that are out of America’s hands (although President Obama’s rejection of the Keystone XL Pipeline likely won’t help matters). But according to a recent Washington Post article, fewer voters appear to be blaming the President for lofty costs at the pump:

Back in September 2005, gas prices surged to $2.90 per gallon across the country ($3.50 in today’s dollars), largely because Hurricane Katrina had shut down production across the Gulf of Mexico — an event that couldn’t plausibly be blamed on Bush. Yet 28 percent of Americans still blamed the president anyway. (Of course, one explanation is that voters were expressing discontent with the way the Bush administration handled the aftermath of Katrina.)

This time around, meanwhile, gas prices are even higher — the national average is now $3.74 per gallon — largely due to tight supplies and tensions between the United States and Iran (and the latter situation is something the White House actually is heavily involved with). Yet only 18 percent of Americans say the president’s responsible for pump prices. The number of Americans who are refusing to assign blame has jumped. Who knows? Perhaps after years of high gas prices a sense of fatalism has set in.

This jibes with political science research finding that, for the most part, a president’s re-election doesn’t hinge on the price of gasoline. Of course, that doesn’t mean that gas prices are meaningless — or that Obama can breathe easy about the situation. If spiking oil prices end up biting into economic growth, then the president’s prospects for re-election really would start sinking. As always, the economy matters a lot.

Food Inflation Could Reach 4% in U.S.

Personally, I eat more beef than Dr. Atkins trapped in a meat locker, so this is not encouraging news from Businessweek. But it’s news nonetheless, especially considering Indiana’s strong ties to the pork industry:

U.S. food costs will rise 3 percent to 4 percent this year, unchanged from February’s estimate, according to the Department of Agriculture. The increase would be the fastest since 2008.

Forecasts were raised for meat, eggs, vegetables and fats and oils. Prices for pork may climb as much as 7 percent, the biggest gain in any category, the USDA said today in a report. The department also raised its projection for food consumed at home by 0.5 percentage point, to a range of 3.5 to 4.5 percent.

“Recent food-commodity price increases, along with grocery-store price increases over the past few months,” have pushed up forecasts, Ephraim Leibtag, a USDA economist, said in a note accompanying the report.

Global food prices rose 25 percent last year and set a record last month, according to the United Nations. Riots prompted partly by rising costs have toppled governments in Egypt and Tunisia and contributed to unrest in other parts of northern Africa and the Middle East.

Expenses likely will continue to rise this year because of higher oil prices and smaller harvests, the UN Food and Agriculture Organization said March 9.