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Low Gas Prices Give Obama a Break

December 8, 2014 at 1:33 pm EST By Taegan Goddard 23 Comments

Even President Obama “likely would agree that 2014 has been a tough year for him—and he doubtless would welcome a sign that he will catch a break or two in 2015,” the Wall Street Journal reports.

“Well, here’s one: Low oil prices now appear likely to be with us deep into next year, at least, and they are shaping up as a win-win for the president. It’s hard to imagine a single development that carries so many upsides and so few downsides. The domestic economic benefits are obvious; more intriguing but less obvious are the ways low oil prices benefit American strategy around the world.”

Filed Under: Energy, White House Tagged With: gas prices

Could Falling Gas Prices Shake Up American Politics?

December 3, 2014 at 9:16 am EST By Taegan Goddard 15 Comments

First Read: “It’s possible — though hardly a certainty — that lower gas prices over a sustained period of time finally begin to change the public’s perception about the U.S. economy. After all, the economy has produced 200,000-plus jobs in each of the past nine months; GDP for the last quarter was revised up to a healthy 3.9%; and the unemployment rate has declined from 7.0% in Nov. 2013 to 5.8% now. But many Americans haven’t been FEELING that improvement, due in large part to wages not keeping up with the cost of living.”

“Politically, an improving economy helps the president and his party. (It also makes it harder to say the health-care law has stifled the economy.) And in macroeconomic terms, lower gas prices serve as a kind of economic stimulus — which Congress doesn’t have to pass or finance. Yet more importantly, they’re an easier way for Americans to ASSESS the state of the economy. The monthly jobs report might not mean a thing to them, but they can see when it costs just $35 to $40 to fill up their tank each week when it used to cost $50. ”

Wonk Wire: Plummeting costs make renewable power a viable competitor

Filed Under: Economy, Energy Tagged With: gas prices

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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