# An op-ed by Nobel Laureate Prof. Michael Spence on gas prices and politics

1 Faculty News March 20, 2012 ![Project Syndicate logo](/sites/default/files/styles/246w/public/assets/images/con_030500.jpg?itok=ONV7lJ6H)>

Excerpt from [Project Syndicate](http://www.project-syndicate.org/commentary/the-energy-deficit) -- "When prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security and resilience, the notion that Barack Obama’s administration is responsible for rising gas prices makes little sense."

[Read more](http://www.project-syndicate.org/commentary/the-energy-deficit)

Additional coverage appeared in [Global Public Square](http://globalpublicsquare.blogs.cnn.com/2012/03/22/spence-the-energy-deficit/) and [China Daily](http://www.chinadaily.com.cn/opinion/project/2012-03/21/content_14883491.htm).