I heard from the American people.....ahhhhh....They’re hurting and I wasn’t going to let that go on any longer. So....ahhhhhh..... I had o put my foot down and demand lower oil prices. I’m the president......ahhhhh....it’s my job to slap down big oil.
Guess who is going to say that.
I will gladly pay $3.50 or more per gallon from now until November if it will help get BO fired.
We had a company attorney who always used to say that when you can hear the barking dog....it’s too late.
The world economy is tanking.
Oil demand is headed down.
So in a way, Baraq has caused the price decline.
His economic policies are a disaster.
The underlying issue here is not just lowering gas prices, but what they represent. The prices are lower because the world economy is slowing down. The faster the price falls, the faster the world is slowing down.
Given the choice, Obama would much rather have higher gas prices and stronger economic growth, than lower prices and a failing economy at election time.
This is not good news for Obama.
Keep in mind that the oil industry, right here in the US is the source for millions of jobs. It is the economic engine keeping parts of the private sector going. Obama has been trying to shut it down since he got into office, and $40 oil will do it (drilling/extraction cost break-even is between $60 and $80). The lowest unemployment in the US is in states which rely on oil—and people have been moving there from everywhere else. Otherwise, there are government jobs.