So how is he doing this? What is the mechanism by which he is controling the price?
Is he controlling the 1000’s of investors in the futures market?
Is he calling up his croanies in the oil industry and asking them to take a loss? Since the margins on gas are so low(around 7%), wouldn’t reducing the price of gas by 25-30% put them at loss?
Wouldn’t someone eventually blow the wistle and provide the documentation of just exactly how this manipulations are occurring?
Some of you conspiracy theorists may have a good explanation, and I would love to hear it. Hold on while I go put my tinfoil hat on.
I just got done reading this article in today’s paper when I saw your post.
Tony Snow summed it up in this quote from the article :
And it’s not just Republicans. Our Washington State Senator, Democrat Maria Cantwell, has made reduction in gas prices a prominant point in her TV campagn ads.
I agree, that’s silly. It’s all market forces, kids.
Also silly are the accusations that oil companies are gouging US citizens. When they sell record amounts of oil, they make record profits. Nothing shady there, unless you find capitalism in general to be shady.
I don’t think our President direcly controls much of anything. But his policies certainly have an effect on the price of gas. The question is how predictable can those effects be? There are so many factors and variables to consider, and not all can be controlled.
I don’t think anybody wants high gas prices, not even oil companies. The cheaper it is, the more people use. Although, even when prices were at their highest I still noticed lots and lots of guys in unnecessarily large pickups and SUVs driving like gas was free. I guess for some of us ego is more importan than driving efficiently. I’ve tried to reduce my consumption by driving smoother, and at least a little bit slower.
But I do believe our President has no qualms about helping his buddies get rich. Many of his buddies are fellow oil-industry executives. Others are apparently war contractors. There’s plenty of money to be made as long as we can keep the war going…