Reversing the Surge in Oil Prices: A Strategy for Re-election
Published in Mainichi
(Japan) on 2 June 2011
by Nobuhiro Saito (link to original)
(Japan) on 2 June 2011
by Nobuhiro Saito (link to original)
Translated from
by Sylvie Martlew.
Edited by Derek Ha.
Obama called support for democracy in the Middle East and North Africa a “top priority” for the United States. The true background for this, however, is that political instability in the region has been causing a surge in oil prices, which has a significant impact on the lifestyle of American citizens.
The president’s personal top priority is undoubtedly his own re-election next autumn. Faced with the upcoming presidential elections, Obama is focusing on the recovery of the U.S. economy and the improvement of employment rates. During the State of the Union Address in 2011, three years after his inauguration, Obama continued to repeat his goal of creating “new jobs, new jobs” and pledged to “protect the American way of life."*
Restoring the U.S. economy after the “Lehman Shock” in the autumn of 2008 was not an easy task, and Obama’s political power was especially damaged by his delay in improving the employment situation. Last autumn, two years after the financial crisis, the first signs finally showed of improvement in the job market. The unemployment rate, which had temporarily exceeded 10 percent, fell to 8 percent in March. The president gradually grew confident of the U.S. economy’s recovery, stating that “we are headed in the right direction.”
At the height of all this, the democratic movement in the Middle East and North Africa was growing. The political instability, brought about by anti-government demonstrations, caused a steep rise in the price of crude oil, and as such has had an impact on Obama’s re-election campaign.
With the crude oil price climbing to $100 a barrel, the cost of petrol, which directly affects the lives of American citizens, has also risen sharply. Until half a year ago, the price per gallon was stable at $2.70; the recent increase to over $4 has been cited as a reason for Obama’s sluggish approval ratings.
In his latest speech, Obama also referred to youth unemployment rates as reasons for the anti-government demonstrations and stressed the necessity of job creation through economic growth. Political stabilization of the Middle East and North Africa region is indispensible for a stable supply of crude oil.
Economic aid for the transition to democracy seems to be included in the calculations of the Obama administration.
*These quotes, accurately translated, could not be verified.
The president’s personal top priority is undoubtedly his own re-election next autumn. Faced with the upcoming presidential elections, Obama is focusing on the recovery of the U.S. economy and the improvement of employment rates. During the State of the Union Address in 2011, three years after his inauguration, Obama continued to repeat his goal of creating “new jobs, new jobs” and pledged to “protect the American way of life."*
Restoring the U.S. economy after the “Lehman Shock” in the autumn of 2008 was not an easy task, and Obama’s political power was especially damaged by his delay in improving the employment situation. Last autumn, two years after the financial crisis, the first signs finally showed of improvement in the job market. The unemployment rate, which had temporarily exceeded 10 percent, fell to 8 percent in March. The president gradually grew confident of the U.S. economy’s recovery, stating that “we are headed in the right direction.”
At the height of all this, the democratic movement in the Middle East and North Africa was growing. The political instability, brought about by anti-government demonstrations, caused a steep rise in the price of crude oil, and as such has had an impact on Obama’s re-election campaign.
With the crude oil price climbing to $100 a barrel, the cost of petrol, which directly affects the lives of American citizens, has also risen sharply. Until half a year ago, the price per gallon was stable at $2.70; the recent increase to over $4 has been cited as a reason for Obama’s sluggish approval ratings.
In his latest speech, Obama also referred to youth unemployment rates as reasons for the anti-government demonstrations and stressed the necessity of job creation through economic growth. Political stabilization of the Middle East and North Africa region is indispensible for a stable supply of crude oil.
Economic aid for the transition to democracy seems to be included in the calculations of the Obama administration.
*These quotes, accurately translated, could not be verified.
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