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Burkhard: There's no 'quick fix' for rising gas prices
The GOP presidential candidates are hoping to turn your pain at the pump into political gain.
The average price for a gallon of regular has gone up again this morning. It's now selling at $3.84 a gallon – that's up nearly 50 cents for the year, and almost double what it was when President Obama took office. And it's affecting the president's approval rating.
According to a Washington Post/ABC News Poll: 50% strongly disapprove of the President's handling on the economy. That's up nine points from last month.
Mitt Romney says it's time to fire the people in charge of our oil supply. He says the President should get rid of Energy Secretary Steven Chu, Interior Secretary Ken Salazar, and EPA Administrator Lisa Jackson.
This morning on Early Start, Global Oil Group managing director Jim Burkhard explains why there is no 'quick fix' to today's rising gas prices, and why opening the Strategic Oil Reserve won't help.
On Twitter
Can Early Start try to explain why natural gas prices are so low? Just about the only commodity that is at a multi-year low?
We are drilling like mad. We are increasing supply. Prices are falling.
Appears to be quite simple to understand: Increase supply leads to lower prices.