Sep 28, 2006

Hidden motive behind declining gas prices? [LINK]

A more thorough treatment of the subject of my previous, snarky entry:

A surprising number of Globe readers seem willing to entertain the notion that the Bush administration engineered the recent free-fall of gasoline prices in order to boost Republican hopes in the upcoming election.

To believe that, you would have to believe that the earlier rise in prices beyond ordinary levels was also politically motivated, and not attributable to combined events in Russia, Nigeria, Venezuela, the Middle East, and the American Gulf Coast. You would also have to believe that President Bush would willingly sacrifice favorable poll numbers for well over a year, no doubt negatively affecting his prosecution of the War in Iraq as well.

Any balanced assessment of the recent drop in gas prices would identify prices over the last year as an unusual shock, and should recognize that gasoline prices almost always fall after Labor Day, even during years with no major national elections.

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