Gas prices soon to go back to $3.00/gallon
Enjoy the price of gasoline now, because when the Saudis lower production, we could go right back to the $3 nightmare of three months ago. Washington state is especially affected -- regularly in the top 10 highest, 20 cents a gallon more than the national average ($2.42/gallon vs. national average $2.22 last week).
The gas prices crushing consumers dropped 80 cents a gallon since August. President Bush said, "That's good news for the American consumer." But there is more to the price changes than meets the eye.
Something Washington Post journalist Bob Woodward said two years ago while prices were going higher sends chills: "They could go down very quickly. That's the Saudis' pledge." According to Woodward, Prince Bandar bin Sultan, Saudi Arabia's ambassador to the United States, "told President Bush that the Saudis would cut oil prices to ensure a strong economy for Election Day." This prediction has come to fruition.
U.S. oil company executives also possess the power to allow price drops for the election. They have enough room to play -- including last year's collective $100 billion in record profits and Exxon Mobil's own near record $10.6 billion profits this past quarter. Oil executives are full of fear over new leadership in a Congress that would investigate them.
posted by walldon | 1:44 PM
3 Comments:
How many of the key U.S. refining and distribution-level decision-makers would be needed. Bet they all could sit comfortably around a decent-size desk like one in, say, the Oval Office.
And how hard would it be to cover it with the troops? They aren't going to tell their employees, we're going to do this to help Bush; all they have to do is dream up some plausible reason why it's important to go for market share, and the price drops will fall into place.
Absolutely right, except my guess is they're sitting in Cheney's office. It's in a secret undisclosed location you will remember.
Yes, I think you got that nailed. All George needs to know is everything's taken care of -- that the "economists tell us" -- wink, wink -- that gas prices will not be a problem in November. A quick phone call with some banter, laughing and nicknames, of course.
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