Many people seem to think that the president actually controls the price of gas. These may be the same people who act as though they have a constitutional right to low gas prices!
2006-09-14 18:17:26 · 16 answers · asked by Eric H 4 in Politics & Government ➔ Politics
If these people were smart (lol), they would know that gas prices are always highest in the summer and lowest in the winter. Ben Bernanke, Fed chairman, noted that high gas prices were due largely to supply and demand issues. Demand is highest in the summer driving season, and lowest in the winter. When considering inflation, gas prices are cheaper than they were 20-30 years ago. According to my personal finance book, from 1980 to 2004, the price of bread grew at a faster rate than the price of gas. The government makes more money in taxes than the oil companies get in profit on each gallon of gas. The oil companies % of profit on each gallon of gas is between 8-9%. What is a reasonable percentage of profit? Please, will all the whiners shut-up?
2006-09-14 18:28:19 · answer #1 · answered by slyry75 3 · 3⤊ 1⤋
Those are the same people who said, when Clinton was in office, and there were the scandals surrounding the persons of Vincent Foster and Monica Lewinsky: "it's the economy, stupid!" In other words, if the economy seems (and I stress seems) OK then nothing else matters.
The biggest engines of America's economy are the middle class and small, close-held companies but the most influential parts of America's economy, the petroleum industry and the Fed, are either independent of anything in the government or, in the case of the Fed, have been run by leadership capable enough to be recognized and supported by both parties over the last 20 years.
2006-09-15 01:28:02 · answer #2 · answered by Ilmari_Karjalainen 3 · 1⤊ 0⤋
Every election year the price of gas goes down. This gives the economy a "artificial" improvement and makes what ever "party" is in power appear to be having a positive effect on the economy. This happens normally about six months before the elections and creates improvements even in recession years. Wait until after the election and the price will rise again.
what gets my goat is the state tax revenue increases right along with the gas price increases that is why your local state officials do little to keep prices in check.
Oh ya my hats off to Bush and his party they are doing what all the rest have done before the elections...Yea
Been watching...
2006-09-15 02:26:08 · answer #3 · answered by justpatagn 3 · 1⤊ 1⤋
I never blamed him, but I'm not going to give him credit either.
He's the one who gives tax incentives to farmers not to grow crops on their farm, so they in turn won't grow the corn needed for ethanol gas, which could make us independent of foreign oil.
On the other hand, they just found that huge oil field 7 miles under the earth that could supply us with billions of barrels of gas, so the people who invest in stock futures are predicting a sharp decline in the price of gas.
Plus, Bush is all mixed up with Cheney, who owns Halliburton, and the oil industry is how the Bush family got their millions in the first place, so I think that is why many Americans feel he does have the power to control gas prices.
2006-09-15 01:34:53 · answer #4 · answered by nellie_3000 3 · 1⤊ 2⤋
Why isn't he getting credit for low gas prices? Because the smart people know that it is all rigged. When november is all over there will be a steady rise in gas prices back up to where they once were.
2006-09-15 01:24:02 · answer #5 · answered by Vodka 3 · 1⤊ 2⤋
Our prices went down a little probably because we used some of our gas used for emergencies. In a city over from us, gas was $1.69
2006-09-15 01:28:23 · answer #6 · answered by *~*~*~* 4 · 1⤊ 1⤋
well sorry to say but he has a lot to do with it......but think back when clinton was in office and the way the prices were then......our gas stations were practically giving it away. I am glad to see that they are making a profit off of the fuel now....sorry my friends ...it has to be this way......gas stations back when clinton was in office was relying on inside sales...the low gas prices were attracting people into coming in and buying other hi taxed items....think about it
2006-09-15 01:23:13 · answer #7 · answered by Lisa 5 · 0⤊ 2⤋
SInce he didn't actually slit any Arab throats he can't claim direct credit. It is the hicks that shop at WalMart that deserve the credit for the lower gas prices. Next time you're at your local WalMart thank the kind folk for slitting dem Arab throats for us and bringing us gas bills down ya hear.
2006-09-15 01:20:47 · answer #8 · answered by Anonymous · 1⤊ 2⤋
I am continually amazed at the answers here to an honest question. lol I sure hope most of you arn't old enough to vote or don't take the time to do so. Please tell me that's true!!! Thanks GW for lowering my gas prices!! lol
2006-09-15 02:13:48 · answer #9 · answered by crusinthru 6 · 2⤊ 0⤋
I'll wait till after the election to see if they stay low or if it's rigged.
2006-09-15 01:20:00 · answer #10 · answered by Anonymous · 1⤊ 1⤋