Any coincidence that Pres. Bush is on his way out and gas prices are falling?
By cadman1
@cadman1 (96)
United States
December 4, 2008 2:30pm CST
There is no arguing about the fact that gas prices skyrocketed during this 8 year term that George W. has been president. But, unlike the cost of everything else gas prices are back down to nearly what they were 5 years ago. After seeing several articles and documentaries about the Bush administration and it's ties to foreign oil and Texaco/Havoline, I find it a little intriguing to say the least. What are your thoughts? Maybe you can shed some new light on the subject.
2 responses
@xfahctor (14118)
• Lancaster, New Hampshire
4 Dec 08
yep.
Despite the bushoilman hype, there is very little that a single leader of a single nation can do to effect the price of oil. If that were the case, then Hugo Chavez would have his $90 a barrel oil. It is a world market. The drop in oil prices is not a causal thing, it is a symptom.
@Taskr36 (13963)
• United States
4 Dec 08
It actually seems rather common towards the end of a presidency. Few people remember that gas prices hit around $2.10 in 2000 under Clinton, but suddenly dropped to $1.80 after Bush was elected in November. As others have pointed out, it's a global market. The US doesn't control enough oil to even make a dent in global prices. It's the OPEC nations that set the global price for oil and that is directly reflected by the subsequent gas prices charged by companies in the US. If there were some sort of clear power that Bush had over gas prices, you can be sure that it would have been thoroughly exposed by now.
