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Thursday, September 28, 2006

US Drivers blame Bush

It must be bad in America when even as oil prices go down, Bush gets blamed. This from BusinessWeek

Energy experts pin the sharp decline in gasoline prices on basic market forces. Tell that to many motorists, however, and their eyes roll. Two out of five Americans believe the November elections and politics -- not economics -- are behind the plunge at the pump. Retired farmer Jim Mohr of Lexington, Ill., rattled off a tankful of reasons why fuel costs may be falling, including the end of the summer travel season and the fact that no major hurricanes have disrupted Gulf of Mexico output. "But I think the big important reason is Republicans want to get elected," Mohr, 66, said while filling up for $2.17 a gallon. "They think getting the prices down is going to help get some more incumbents re-elected."

According to a new Gallup poll, 42 percent of respondents agreed with the statement that the Bush administration "deliberately manipulated the price of gasoline so that it would decrease before this fall's elections." Fifty-three percent of those surveyed did not believe in this conspiracy theory, while 5 percent said they had no opinion.


At 28/9/06 11:13 pm, Anonymous Anonymous said...

Yes oil prices world-wide are at 6 month lows, and here in New Zealand we're told the reason for the petrol price drops is our rising kiwi dollar. WTF?

At 29/9/06 6:35 am, Blogger bomber said...

Yeah - I couldn't understand that either - can anyone explain that?

At 29/9/06 11:37 am, Anonymous RR said...

It's a combionation of both. As we buy oil in US dollars, the net price drops if the kiwi strengthens against the USD. It just so happens the per barrel price has also dropped (under $60 earlier in the week, after a sustained period of over $70)
Having said that, OPEC is a corrupt cartel, which kinda skews it all at times.

At 5/10/06 12:57 pm, Blogger bomber said...

Walk me through this rr - how come a cartel gets to operate so openly?


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