Gas on the ballot in US elections
Today’s US election is a test of how much voters will want to punish the president for soaring gasoline and power prices.
The upcoming US election is set to test whether voters will seek to hold the president responsible for increasing gasoline and power costs, with energy prices serving as the most visible economic indicator during voting. Since the 1970s oil embargoes, presidents have always been acutely aware of their constituents' limited tolerance for gas station pain when pursuing foreign policy goals.
During Donald Trump's tenure, the average gas price has reached its highest point halfway through a presidential term, according to Financial Times research.
In key congressional battlegrounds, the surge in power bills tied to AI is a major point of contention, potentially shaping the outcome of the votes and reflecting the tension surrounding data center growth. If Democrats manage to regain control of one or both houses of Congress, they will face significant challenges and must decide the extent of their willingness to engage in hardball tactics with Republicans and the White House over permitting reforms.
The budget battles are likely to revive debates on tax incentives for electric vehicles and clean technology. Investigative committees will question the administration about issues such as the withdrawal of offshore wind lease approvals and the diesel pact with Russia.
Meanwhile, a new generation of state and local leaders will need to determine the appropriate level of pressure to exert on Big Tech regarding its power consumption. These are the critical storylines that will be closely monitored until the 2028 elections.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
