Gas prices in California and throughout the nation have jumped by more than a $1 a gallon since 2010. And Mitt Romney, the GOP’s presumptive presidential nominee, has been blaming President Obama, alleging that gas prices would be lower if the president had green-lighted more offshore drilling and the controversial Keystone XL pipeline that would bring tar sands oil from Canada to the Gulf Coast. However, a report this week by two-time Pulitzer Prize-winning journalist Eric Nalder reveals that there’s an oil glut right now, and that increasing the domestic oil supply will likely have no effect on gas prices.
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