Florida Governor Ron DeSantis has made a bold promise – to lower gas prices to $2 per gallon if he is elected president in 2024. However, energy analysts say that this claim is unrealistic due to the president’s lack of control over the global oil market.
As part of his new energy agenda, DeSantis has also pledged to focus on reducing gas prices and energy costs, including achieving $2-per-gallon gas by 2025 through increased domestic oil production. Additionally, he plans to roll back President Biden’s policies and tax credits supporting electric vehicles, energy efficiency standards for household appliances, net-zero commitments, and expedite the approval of new energy projects.
DeSantis aims to reignite American energy dominance, protect the American automobile industry, and ensure energy security for the nation. He believes that high energy prices disproportionately affect the poor.
Currently, the average price for a gallon of gas is $3.88. However, it’s crucial to note that presidents have minimal short-term impact on gas prices due to global factors beyond their control. Private companies also play a significant role in controlling US production. The elevated gas and oil prices are influenced by various factors, including output cuts from OPEC+ countries like Russia and Saudi Arabia, post-pandemic caution from domestic producers, strong global demand, and disruptions caused by Russia’s conflict in Ukraine.
Despite President Biden’s efforts to restrict fossil fuels as part of his climate change agenda, American oil producers are set to pump a record amount of oil by the end of the year. However, Biden’s environmental policies and mixed messages about oil production have created regulatory uncertainty, which can impact long-term output and costs.
Patrick De Haan, a gas analyst and founder of the fuel price monitoring app GasBuddy, called DeSantis’ $2-per-gallon promise “an absolute joke” and a “farce.” He emphasized that a presidential candidate cannot control global factors influencing gas prices. There are other factors to consider, such as state and federal gas taxes, the type of gasoline used, and EPA requirements.
De Haan also argued that such a low price would discourage production incentive, particularly as producers have become wary of price dips in the post-pandemic era.
When pressed by reporters, DeSantis softened his $2 pledge, saying that he believes they can get close to that price but does not guarantee it. He acknowledged that relief is needed at the pump and criticized the Biden administration’s green energy agenda as an attempt to control people’s choices and behaviors.
Unique Perspective:
While lowering gas prices to $2 per gallon may be an appealing promise for consumers, it’s important to recognize the complexities of the global oil market and the influence of various factors on gas prices. Achieving such a significant reduction would require not only domestic efforts but also navigating international dynamics. However, the focus on energy costs and American energy dominance resonates with many voters who are concerned about affordability and energy security. As the 2024 presidential race unfolds, it will be interesting to see how different candidates address these issues and propose solutions.
