Daniella Nicole, August 8 – When Obama ran for office the first time around, he promised that energy prices would “necessarily increase”. So they have.
In addition, the cost for compliance with all the regulations imposed upon energy production and fuel has increased significantly. This includes ethanol.
According to a Bloomberg report, refiners in the U.S. are required to blend gasoline with ethanol, and that compliance cost has already risen more than ten times what it was at the beginning of this year. Though the update to the law requiring this blending passed in 2007, before Obama was president but while he was in Congress, he has kept to his promise to raise prices in a big way.