Why do people think that the president any president controls the gas and oil prices?

Question

They don't it's not in there power to control the gas prices or oil they may have shares like a lot of people but they don't control the prices.

bush doesn't own exxon etc seperate buisness does

Answer 1

They are uniformed and do not understand that gas prices are controlled by world economic climate.

Answer 2

'Experts' claim oil is a commodity and is controlled by 'market conditions' of supply and demand. WHEN THE DEMAND IS HIGHER, THE SUPPLY COSTS MORE.
Yet, WalMart and all the other big 'discounters' claim that they can offer "low prices - everyday" because they buy in larger quantities (thus, the DEMAND IS HIGHER, THE SUPPLY COSTS LESS).
I think the OIL companies get together, roll the dice, and say, "Hey! Today's price is $2.99 a gallon!" Oil company profits have been a obscene record highs for years now. The government should be regulating the price of gasoline by regulating the profit margins allowed to be earned on the refining, manufacturing, distribution and marketing of petroleum products.
If oil companies made a 10% profit margin when gasoline was only a dollar a gallon, they earned ten cents profit for every gallon they sold.
If they maintain that same 10% margin today, they earn 30 cents profits for every gallon they sell. The government needs to intervene and force the oil companies to reduce their profit margins to - say - 1% and keep the price of gasoline at an affordable cost. -RKO- 05/03/07

Answer 3

The decision to put the kibosh on expanded deepwater drilling in the Gulf of MX is probably costing us about 20-25 cents a gallon. Expanded domestic pipeline capacity, esp. refined products pipeline capacity, would reduce volatility and could bring gasoline prices down another 20 cpg. I haven't done a whole spreadsheet on this, it's just a rough estimate from someone who has banked and who still invests in the industry.

But I don't think this is Bush doing something the Democrats don't want him to do - this is Bush not doing enough of what the Democrats oppose.

Answer 4

Good point. No clue. But I tell you this much - our government does have SOME power of the price of gasoline. Know what it is? Taxes. If they would suspend or eliminate the tax, we'd all be paying MUCH less at the pump. No, politicians--Republican and Democrat alike--like to whine about the price of gas and how we need to find alternative fuel sources blah blah blah, but ultimately the problem of high prices can be temporarily alleviated by cutting or removing the gas tax.

Answer 5

Because the LIBERALS try to blame EVERYTHING on president Bush. Nothing but a bunch of sore losers.

They've had control of the Congress and Senate for 5 months now and what have they accomplished?

They'll complain that gas is $3.50 a gallon while they sit in the drive through of Starbucks waiting for their $5.00 CUP of coffee!!!!

Answer 6

As Timothy states above, they can't CONTROL but they can AFFECT, and affecting the price of oil has been taken into account when deciding on foreign policy since many presidents ago. I disagree with it, because most presidents are willing to destroy lives in order to affect oil prices, but it's even worse when a president tries to affect oil prices for personal profit and for the profit of his friends and campaign contributors.

Answer 7

yeah we all know that thanks. however when you have a big oil man in office and all his cronies are big oil men and want to see him in or someone of his type stay in office, you bet the prices are controlled at that point. so indirectly this particular president can indirectly control the prices.

Answer 8

You are naive to think that Bush and Oil vested interests in Washington D.C. are above corruption and conflict of interests.

Answer 9

Foreign policy can and does affect the price of oil.

Answer 10

I know, its a popular misconception. The fact that the Bush family are employees of Saudi Arabia doesnt help, though.