Christian Science Monitor: Some Are Starting To Blame Administration for High Gasoline Prices

According to recent polls, the price of gasoline is the #3 issue on the minds of Americans. The top two issues are jobs and the federal deficit.

Something tells me most Americans really don't worry that much about the deficit on a day-to-day basis. They worry about their jobs, they worry about their cash flow, they worry about their retirement (maybe that's where the deficit fits in; but it probably has more to do with Wall Street), and they worry about health care expenses. And they worry about whether their car will start, assuming they have a car.

I have opined for quite some time that the administration's worst nightmare is $100 oil and 10% unemployment. For all practical purposes we are already there, but "we're" just waiting for the headlines.

As the price of oil moves to the top of worries voiced by Americans, it will be interesting to see how the administration reacts. The Christian Science Monitor is reporting that more and more folks are starting to equate high gasoline prices with the administration's energy and environmental policies.

I have been noting how the administration has reacted in the past. It will be tough to change course for some. I know with the appointment of GE's CEO as the new economic adviser, there will be a call for more federal support (subsidies) for wind turbines, despite evidence that wind energy will do nothing for the number one issue for Americans: jobs.