President Barack Obama delivered remarks on the economy at Ivy Tech Community College in Indianapolis, Indiana and congratulated himself for lower gas prices at the pump.
“A lot of families are saving a lot of money at the gas pump. That is putting some miles on some folks cars,” Obama said. “And — [laughter] You’re welcome. [Applause]. Although I was telling someone the other day, at some point they will go back up. Don’t start–you know, going out there and ignoring the mileage when you’re buying a new car. You have to keep looking for those savings.”
In fact, the Saudis are keeping prices low to collapse shale oil business and protect market share. Also the new drilling is all on private lands not public lands.