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Doubled in the united states, a recession has followed. >> yeah. yeah. we don't want that. steven leeb is author of "game over." have you haven't read it, you should. last year at this time the average price for a gallon of gasoline, which mistakenly is where most people think they feel oil, we actually feel it in far more places than gasoline, the average price was $2.69 this week a year ago. now it's up to $3.29 with all dire predictions of how high it will go. at what point do we see real political and economic fallout as a result of rising holy and gas prices? >> i would say around $4. ric...

Poll has president obama's approval rating at an all time low? it's only one poll. but that is a number and 54% of americans say gas prices are something that the president can do a lot about. really. president obama tried to get out in front of the problem today. he did television interviews with local newschannels from eight key election states. >> the single most important thing is reduce our dependence on foreign oil. the fact we reduced our dependence by a million barrels a day, that over time is going to have a big impact. >> republicans are hitting the president for not increasing energ...

Prices. a new cbs news-new york times poll has president obama's approval rating at an all time low? it's only one poll. but that is a number and 54% of americans say gas prices are something that the president can do a lot about. really. president obama tried to get out in front of the problem today. he did television interviews with local news channels from eight key election states. >> the single most important thing is reduce our dependence on foreign oil. the fact we reduced our dependence by a million barrels a day, that over time is going to have a big impact. >> republicans are hitting...

Dependence on foreign oil much the fact we reduced our dependence by a million barrels a day, that over time will have a big impact. >> republicans are hitting the president for not increasing energy production in reality this is meaningless. over the last three years the united states paid an average of $2.64 a gallon while producing 5.4 million barrels of oil per day. in comparison germans paid almost the same, $2.69 a gallon. ge they produced 28,000 barrels a day. the facts haven't stopped newt gingrich from making his platform about gas prices. he hammered the president while trying to cou...