Now that the Election is here how HIGH will the cost of Gasoline go?

Question

A White House document shows that executives from big oil companies met with Vice President Cheney's for an energy task force in 2001 -- it shows that officials from Exxon Mobil Corp., Conoco-Phillips, Shell Oil Co. and BP America Inc. met in the White House complex with the Cheney aides who bargained for a national energy policy, parts of which are now law and parts of which bring prices down in the months before a Federal election.

Senator Barbara Boxer is making rare appearances in Scarborough Country lately, calling attention to what appears on the surface to be profiteering by the major oil companies during a time of national crisis. Sen. Boxer is working on getting big oil executives to come back to Washington to appear before the Senate under oath to answer tough questions about the shortages and other supply problems that have driven gas prices to record highs in the wake of the Iraq War and recent natural disasters.

SCARBOROUGH: And yet Exxon has $39 billion in cash right now in reserves, and they are refusing to build refineries.

BOXER: That's right.

SCARBOROUGH: Why?

BOXER: Thank you for understanding this, Joe. This is a fact, because I think they want to control the supply. its as just simple as that. You know, Shell Oil had a refinery in Bakersfield. Listen to this. They said, we are shutting it down. It doesn't make money. That wasn't true. They said, we are shutting it down. We can't get a steady supply of crude oil. That wasn't true. They said, we are shutting it down, and there's no buyers. That wasn't true.

It was only because political leaders got together in the state and in the Congress and pressed them that they were forced to sell this refinery, and, by the way, the new buyer is very happy and supplying 2 percent of the gasoline for California. Now, I tried to press that yesterday, and the Shell person said, oh, we are just thrilled that its remained open.

Ahead of US mid-term Congressional elections, politically-sensitive gasoline prices have fallen sharply in recent months.


The fall in prices on Monday came as Opec plans to push through with cuts in crude output. Opec president Edmund Daukoru said member nations of the oil producers' cartel were committed to cutting production in a bid to boost prices. He added that further cuts could also be made.

"A December quota cut may be necessary because the market is still soft," Mr Daukoru said on Sunday in South Korea, where he was attending an oil conference.

Despite scepticism over Opec's intentions, some dealers said they expected oil prices to begin reversing after Nov. 7th.

Answer 1

If the price of gas goes up after the elections the people had better together rise up in a disconsolate frame of mind and bring down those who have betrayed us. We the people had better start standing up over all the weak and useless ways the goverment keeps putting down the people. We must stop being scamed by the gov.

Answer 2

Gas probably won't go up now. If the NE has a bad winter, look out for heating oil prices.

Answer 3

ask george and dick. they know, but aren't talking because the public might not like getting screwed again and again, and again. but if they don't talk, nobody will complain and the oil companies will give billions in incentive pay to the top echelon of managers..

Answer 4

I am not taking any chances, I am filling my car to the max tomorrow morning on the way home from voting.

Answer 5

high

Answer 6

very high