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Tuesday, January 20, 2015

What America Thinks: Economy’s Up, Gas Prices Are Down

A number of economic indicators are rising as gas prices continue to fall. Many analysts are connecting the two by noting America’s boom in energy production as it develops its shale oil resources through the new but controversial practice of fracking. We decided to find out what America thinks.

The majority of voters agree it’s important for the United States to become less dependent on foreign oil and believe the development of shale oil reserves will help to end that dependence. Half believe the United States already has enough to become the world’s largest producer of oil and natural gas, a title it actually claimed this summer.

With the energy boom helping to fuel the economy, investor and consumer confidence have risen to their highest levels since 2007.

It doesn’t hurt that the price of gas at the pump has dropped to its lowest level in several years as well. Ninety percent (90%) of Americans say they are paying less for a gallon of gas than they were six months ago. Things have certainly turned around quickly: Last June, most reported paying more than they were six months earlier.

Will it last? Has the U.S. economy finally turned the corner to full recovery? We’ll see, but 69% of Americans think it’s likely those gas prices will be going up again in the near future.

For Rasmussen Reports, I’m Alex Boyer. Remember, if it’s in the news, it’s in our polls.