[MeneMeneTekelUpharsin]

It is only because elections are coming up and someone was told to drop the price. Prices WILL rise after the electiions. Give a month after the elections.

[thackney]

someone was told to drop the price

Yeah, that's the ticket. Magic control of the world's commodity markets. All they had to do was ask. < /sarc>

[hawkaw]

Seriously? Look at the production increases in the USA and Canada. That says it all.

[Smokin' Joe]

Looks like an election year pattern to me...

[Vinnie]

It is only because elections are coming up and someone was told to drop the price

Bingo. Bingo, Bingo.

[wolfman23601]

Nope, it is just another bubble. The real economic value of oil, adjusted for inflation, is closer to $40. I don’t think they will rise after the elections. I think they still have a lot further to fall actually. China, India, production, etc doesn’t matter. If you look at global supply and global demand as a hole, it has been virtually unchanged since 2002, yet the price tripled. So China and India’s gains were someone else’s loss. Demand is a zero sum game. There have certainly been short term supply shocks, but the price of oil has never recovered since Hurricane Katrina aside from a few months during the 2008 financial crisis.

[MrB]

I’m not sure about that...

is there anyone that equates “democrats” with “lower gas prices”?

[CPT Clay]

Little know FACT: Obama admin no longer has diplomatic relations w Saudi Arabia.