Posted on 10/20/2006 9:31:45 AM PDT by Diddle E. Squat
WASHINGTON — Oil company executives have been cringing at the poll results, economists all but screaming.
Nearly a third of all Americans believe the oil industry, in cahoots with the White House, is orchestrating the recent drop in energy prices to help Republicans in November.
So there was groaning again on Thursday when House Speaker Dennis Hastert, R-Ill., issued a news release that was headlined: "Gas prices continue to fall during a Republican majority."
"Oh, that just fuels it," Jim Glassman, senior economist for JP Morgan Chase in New York, said with a laugh. "That will just reinforce suspicions. ... Leave well enough alone, for God's sake."
Hastert's assertion comes just days after a Washington Post-ABC News poll found that nearly as many Americans believe the drop in prices is all a plot as those who contend — as economists insist — the price decline has been caused by market forces.
Glassman doesn't think voters really believe the oil conspiracy theory.
"I think they know better," Glassman said.
"It's just kind of fun to talk about in political terms. I think people understand what's going on," he said.
The headline on Hastert's news release is certainly true. Gasoline prices, indeed, have dropped of late; the GOP is in control of Congress. And the statement makes no other overt connection between those two facts.
Instead, Hastert says simply, "Today's tumbling gas prices are giving Americans relief at the pump, and it's giving them more money to spend on their families."
Hastert spokesman Ron Bonjean denies any suggestion his boss might be helping to perpetuate a myth.
"Gosh no," Bonjean said. "If we had the ability to control gasoline prices, we would have had them low all year long. They'd be low forever."
Bonjean credits energy legislation pushed through by Republicans for the easing of the pain at the pump.
Opponents point out that energy prices hit their highs while Republicans have been in control.
"Only the Republicans would celebrate gas prices that cost 50 percent more today than when President Bush took office," said Jennifer Crider, a spokesman for Democratic leader Nancy Pelosi.
In his statement, Hastert did wonder whether Pelosi might just have a "secret plan" to raise fuel prices if her party takes control of Congress.
After all, he said, she had voted for tax increases in the past.
Crider responded: "The plan is to lower the cost of gas, to roll back the tax giveaways to Big Oil and invest that in alternative energy and efficiency."
Other FReepers also seem to want to claim credit for falling gas prices, even though they insisted it was the Free Market that caused the increase to begin with.
To this I say, so what? If the prices continue to fall and the Republicans hold on to Congress and hopefully the Oval Office, where's the downside?
The Dow busted 12K for the first time in history. That should be good for something.
Demo candidate for governor the other night made the ludicrous comment that the price of gas keeps going up! Like in most places, it is lower here than it was a year ago. The incumbent govenor could not respond since they had to move on to another question but she shouldn't have let him get away with that nonsense.
It's under $2.099 here. It's still a stick in the eye, just not a sharp one.
This guy waaay over estimates the intelligence of the average American.
Well, if you think of conservatives being the defenders of the Free Market, both are correct. The Free Market is responsible for both moves.
If Democrats had been in charge, OTOH, we likely would have seen a repeat of the 70's with lines and rationing.
So, yes, the Free Market caused both the up and the down, and conservatives are to be thanked that they're coming down naturally.
This Just In: My dog had puppies in August, and the VERY NEXT DAY, gas prices started to fall.
Elect Republicans, or the puppies get it, and gas prices will go right back up. . . . . .
(sorry, couldn't resist. . .)
I hope the GOP returning majority gets a new Speaker. His last couple of years of leadership strongly contributed to the GOP being behind the 8-ball in election 2006.
Well if the MSM is going to beat politicians over the head when prices are going up, why not take credit when prices fall? All we heard from the driveby media when prices were rising is that the government is not doing anything.
The lesson to be learned is that Republicans CAN lower the price of gas, but Democrats can't.
; )
Hastert is a moron...as usual.
The oil companies started dropping prices when the price of gas became a political issue for both parties. The companies are trying to dodge any real investigation and regulation that might come about if the people vote for politicians who'll do so. They're hoping that America will forget before Nov. 7 so that they can start creeping them back up in February.
Time to do some Teddy Roosevelt-style trust-busting....
The Republicans have LEADERSHIP on Capitol Hill ? News to me. . . They have some people in leadership positions, but I have yet to see any exercise of it. .
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