Do you think falling gas prices are connected to election?

[American liberal]

I just filled my gas tank for the least amount of money I've had to pay for gas in a couple of years! Since oil money in the country is Republican money, do you think supply is helping to drive down prices at this time--a month before a pivotal election--on purpose?

I do...

[RB TexLa]

1. No

[GreenTea]

27. YES, absolutely. This has been planned for a long time...

What will you say when prices start rising again a few month's after the election? Just a coinencidence, again?

The four or five oil companies will do anything needed to help the republicans, they've had record profits from gouging every quarter with a do nothing republican congress.

Oil prices, the Dow (meaningless) hitting record high, Iraq and other diverions being ignored, Bush pushing fear & terror, all to keep it close to steal with their voting machines.

[Ecumenist]

2. Is a frog's @ss water tight?

[bobbie]

3. Definitely

Without a doubt.

And will go back up after.

[Dammit Ann]

15. agree.

i'll bet on it!

THE DAMMIT CHRONICLES

[Greeby]

4. State of Denial documents that the Saudis lowered prices

Just in time for the election to help Shrub. Wouldn't suprise me if they did it again

[aint_no_life_nowhere]

9. Woodward was on Blizter today repeating that fact

But I think he said he documented it in "Plan of Attack".

[TheFarseer]

5. They fall a bit for winter usually

but this is being exaggerated by someone. I don't know how everyone can acknowledge that speculators drove the market up, but it's "crazy" to say something is driving it down!

[conscious evolution]

6. absolutely

[SammyWinstonJack]

7. bu$hco is marinated in oil money! They can not afford to lose this

election and they know that some 'Mericans care about gas prices above all. Answer your question?

[Telly Savalas]

8. No.

Too many questions:

Has a causal link even been established between gas prices and support of incumbents? Is it significant enough to make the difference in a single election? If so, how many House and Senate seats would be tipped to the GOP by the lower in gas prices? Which ones? Will it be a sufficient number to keep these bodies in the hands of the GOP? If not, what's the point?

Even if one or both of the legislative bodies falls into the hands of the Democrats, what legislation can we expect them to pass in the next 2 years which will have a material adverse effect on the bottom line of oil companies? How will such legislation escape a veto?

And assuming the oil companies are intentionally reducing prices at the pump, how many billions of dollars are they losing in the vague hopes that they're making a difference in the election results?

It seems like an awfully large investment for ridiculously uncertain returns.

[American liberal]

14. It has been historically proved that "stable" or growing economies

favor incumbents. Growing income, stable prices, etc., always are good for status quo. It may just be psychological, but people who are optimistic about the future and comfortable in the present are more likely to vote for status quo. Don't rock the boat. If it ain't broke, don't fix it. Easy does it, etc.

And I don't believe that falling gas prices mean that American oil money is losing money. They're just not making as much. Short-term loss for long-term gain? (keeping the Republicans in power so they can continue to rape the treasury? You betcha!)

There is no such thing as coincidence...

[Telly Savalas]

17. Gas prices are but one aspect of an economy.

And nobody's answered any of the other questions.

[Union Thug]

31. Thom Hartmann cited a direct correlation between Bush's

approval ratings and the price of oil.

[PsN2Wind]

16. You really don't believe

the oil companies would be more than happy to forgo some short term profit for the chance of long term gain? How many billions have they put away under the friendly oversight of the current occupant? A little payback by reducing their horrendous profits for a few months in the hope of reducing voter anger will hardly bankrupt them. And they will not lose the billions you post says but just profit at a less outrageous level.

[Telly Savalas]

20. But the crux of my questions is what is the likelihood of long-term gain.

And you're just playing semantics with my last statement -- if they fix prices lower, they're giving up billions in revenue they otherwise could have had.

There are a lot of dots to connect to get from this autumn's lower gas prices to policies that favour oil companies, and I don't see anybody claiming politically-motivated price manipulation actually trying to connect these dots.

[ComerPerro]

19. Honestly, I doubt they are losing any money. And besides

they gouged the shit out of us for two years, and starting doing so for more and more.

They have made more than enough profit to afford to lower prices until the Republicans are secure in their offices, and then hike them back up again.

[Telly Savalas]

22. If they are pricing gas 30-35% lower than what it would have been

otherwise, then they are ceding billions of dollars that they otherwise would have had.

And in how many races is the lower gas prices going to make the difference between a Democrat or Republican taking office? What are the oil-unfriendly Democratic policies?

[ComerPerro]

24. Actually, it will make a difference in a lot of races

the spin (and I've heard it from 'regular folk') is that the falling gas prices is a sign of a strong economy and good policies by Republicans. In addition, they credit falling prices to lightened environmental restraints (doesn't matter if its true or not, its a GOP talking point), so they are saying that if Dems are elected, prices will shoot up because of environmentalists.

[Telly Savalas]

28. So how many regular folk will change their vote on this single factor:

gas prices have fallen for a couple of months after being at their highest levels ever for over a year, and this alone is an indication that the GOP handles the economy well. And most importantly: how many seats will this ridiculous myth win?

If I'm an oil company exec, I've just pissed away billions of dollars if I manipulate prices and the only result is to shrink some margins of defeat/victory, but not actually win any seats, much less win enough seats to keep the Congress in GOP hands. For that matter, with all the Bankruptcy Bill Democrats out there, does an oil exec even need to be too concerned about a Democratic Congress?

The point about the Democrats environmental policies being perceived to increase prices is a red herring in that it has nothing to do with current gas prices. If a voter believes this nonsense, it doesn't matter if gas prices are currently $1 or $4 -- they would go up when the Democrats take over in such a voter's mind.

Furthermore oil companies aren't basing their decisions on the propaganda they see on FOX News. They're going to make a cost-benefit analysis based on a much more realistic assessment of the risk.

Edit for 1 AM grammar

[Demobrat]

10. Yes.

Because it's a pattern.

[buzzard]

11. No, I think it has more to do with this being the seasonally low

period combined with the very real slowing of the economy indicated by slowing house sales and declining prices, which will in turn lead to a decline in demand. However I am not an economist it is just what I feel is happening.

[razors edge]

12. they have the markets well under control

oil will be flooded onto the market by the house of saud, and the queen's bank will keep the gold dump going, but no longer than need be. They will not risk a situation where they can not recoup all these ill gotten gains being eaten completely, like bait it is only to make more than you put out.

http://www.monex.com/monex/controller?pageid=prices

[lutefisk]

13. Yes...........n/t

[TXDemGal]

18. Does the Pope shit in the woods? nt

[ComerPerro]

21. Anyone who can't see that has been drinking the GOP "free-market" koolaid

and is incredibly naive...

[borlis]

23. Hell yes! I paid $2.19 the other day. Filled my whole tank for under $50

I can't remember the last time it was that cheap. I feel like stockpiling it in my shed and basement becuase I know it will go up again.

[Broken_Hero]

32. I honestly am thinking the same thing...

I wonder how good gas keeps in those barrells. I figured my wife and I use roughly 80-90 gallons a month, and stockpiling say...300 gals for the summer months, might be a good idea.

[never_get_over_it]

25. Of course they are

and I am stunned that anyone who posts at DU can't see this - when the devil in chief's polling numbers were at their lowest gas prices were at their highest - OF COURSE THEY ARE MANIPULATING THE PRICE

It will start going back up right after the election.....

[PerfectSage]

26. Your partially right.

Build's in crude oil inventories, oil futures falling below their 50 day moving average in September, the discovery of the 3-15 billion barrel field in the gulf of Mexico in September(Now this might be election bullshit????????????) The end of the Isreal/Hisbollah conflict. No huricanes this year and seasonally Sept/Oct is when oil bottoms before the winter heating season.

I'd guess some of the drop is opfop(oil prices falling on purpose)

[nadinbrzezinski]

29. yes

[Union Thug]

30. Yes - Without a doubt.

This is all BushCo has left. They see the correlation between oil prices and approval ratings and are calling in favors from their spiritual brethren in the House of Saud.

[Porcupine]

33. The BFEE and House of Saud get 2 years Katrina insurance......

For the next two years no matter what nightmarish weather hits the US congress will DO ABSOLUTELY NOTHING ABOUT CLIMATE CHANGE.

I believe that a total revolt of the US populace is just on class 5 hurricane away. When the next big blow washes a major city into the sea that's it for the oil industry. If Rita hadn't turned there would have been no question about these elections.

People are spooked by the little information about climate change they are getting. Most folks already understand that the weather is a bit strange compared to even ten years ago. If they get the idea that it can come down on them personally empty their pocketbook and kill them they will react.

I think this is worth it for the powers that be.