Oil's well that ends well?

There's much discussion out there on the Internets about the suspicious rise and fall of gas prices this year. In fact, a recent Gallup poll shows that 42% of Americans think George Bush and Republicans are deliberately manipulating prices to influence the November elections. Imagine that! Four out of every ten people in America think George Bush is a lying cheat.

As a person with only a smattering of economic training, I confess to being puzzled myself by the wild fluctuations in the oil markets. Could it possibly be that the conspiracy theorists are correct? Could nefarious manipulation be taking place right under our noses?

White House spokesman Tony Snow addressed the issue Monday, telling reporters that “the one thing I have been amused by is the attempt by some people to say that the president has been rigging gas prices, which would give him the kind of magisterial clout unknown to any other human being.”

“It also raises the question, if we’re dropping gas prices now, why on earth did we raise them to $3.50 before?” Snow said.

Hmmmm. As a diarist at Daily Kos says, it would seem that Mr. Snow has answered his own question rather nicely. And as to the issue of magisterial clout, well, the record speaks for itself. King George has lied so often that We the People can no longer tall the difference between truth and fiction. From torture and secret prisons to WMDs and manipulation of the media, it's clear that the Resident will stop at nothing to retain power ... and he is no doubt scared shitless by the prospect of losing control of one house in Congress.

You may recall that Vice President Cheney unilaterally developed America's energy policy after meeting in a secret session with the heads of all the major oil companies. Who's to say that price manipulation wasn't on their clandestine agenda? Maybe Little George can't control gas prices all by himself, but in collusison with Big Oil? That's a whore of a different color.

Republican's are great at taking credit for things they don't do ... and for not taking credit for their many, many screw-ups. I say we give the Republican Congress FULL CREDIT for driving gas prices down just in time for the midterm elections.

Anglico

PS Before all the grown-ups start whining that I'm losing it, please remember: This is not about the price of oil. It is about the price of gasoline, a price over which producers have great latitude. On the heels of record-breaking billions in recent profits, it makes perfect sense to me that Big Oil might be scaling back their greed to keep their enablers secure in Congress. Just sayin'.

Comments

One thing to look at

would be the price of a barrel of oil and then compare what the actual price at the pump was at the time.

While it always falls after the demand of summer, I don't recall the price of gas falling quite so far in so short a time before.


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Vote Democratic! The ass you save may be your own.

As Jon Stewart would say

"Heh. There you go wantin' them facts agin. I'm the decider and I'm decidin' that my approval ratings is too low gas prices is too high. That's all you need to know little lady."

Conspiracy? I have one for you...

Why is gas always 10-25 cents more in Chapel Hill than Hillsborough ;-)!

CitizenWill
there comes a time when one must take a position that is neither safe, nor politic, nor popular, but he must do it because Conscience tells him it is right. MLK,Jr. to SCLC Leadership Class

CitizenWill
there comes a time when one must take a position that is neither safe, nor politic, nor popular, but he must do it because Conscience tells him it is right. MLK,Jr. to SCLC Leadership Class

Good point, Will.

And it just goes to underscore the latitude around pricing that oil companies and distributors have.

I heard it went down to under $2 a gallon last week...

can't find the story anymore.

Pump prices should continue falling with recent drops in oil costs, analysts agree. Most experts predict gas nationally will slip close to $2, though one told the McClatchy Washington bureau last week that drivers could pay $1.15 a gallon.

"No way," said Mike Burdette, a gas-price analyst with the U.S. Energy Information Administration. "Enjoy the sub-$2.50 gas while it lasts. ... I don't see prices falling much more than this."

CountryCrats - my thoughts, my blog.

Jesus Swept ticked me off. Too short. I loved the characters and then POOF it was over.
-me

The Cheney Energy Task Force is the key

ingredient here. Is it too far fetched to say it went like this:
1. Energy companies needed to make more money.
2. GOP needed a secure source of campaign funds.
3. They identified the perfect set of suckers to feed both - US consumers.
4. The price goes up any time there is not an election pending in the next 2-3 months, making the oil cartel tankerloads of $$$ that they then use to feed pro-GOP PACs.
5. Gas prices magically drop in the 2-3 months before the election so that short-sighted voters will forget how bad the gas prices hurt.

Not too far fetched at all

There's no doubt in my mind that this sort of strategery is going on. Republicans know their base is too stupid to notice or care, so they just keep milking them for every penny, all the while promising more trickle down bullshit. It's disgusting.