I'm fairly conservative when it comes to letting markets do their thing.  I don't like it when governments interfere with and regulate fairly well-functioning markets.  That's why it bugs me a little when conservatives blame the President for simple fluctuations in markets that are a result of basic economic adjustments*.

Like this:

Gas up $1 a gallon on Obama's watch: Pressure rises for exploration

Gas prices have risen $1 since just after President Obama took office in January 2009 and are now closing in on the $3 mark, prompting an evaluation of the administration's energy record and calls for the White House to open more U.S. land for oil exploration...

It's not the President's job to 'watch' prices.  Prices in gas markets adjust to changes in supply and demand.  Say, for example, the costs of an essential input, like oil, increases while the demand for gas increases in rapidly developing countries. 

John B. Townsend II, a spokesman for AAA Mid-Atlantic, said price increases are a result of the cost of crude oil, thanks to a decision by the Organization of the Petroleum Exporting Countries not to raise production even as economic growth in countries such as Russia and China spurs more demand.

"From all indications, we're going to see $3 gas again this summer," he said.

Hey, that's what I said. 

But, I think the President gets it:

The Obama administration also blames the market for the high prices and argues that its record for expanding energy development has been solid over the past year.

"The prices are set by the world market," said Kendra Barkoff, a spokeswoman for the Interior Department, which manages federal lands that would be leased for oil exploration.

Yes, I know this is just politics, but still, the economic point is relevant. 

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