Why do people think the President controls gas prices?
Have you noticed how many people on here blame Bush for gas prices but they NEVER give specific examples of how he's doing it?
They say he's a oilman or he has friends in the oil business. OK, even if that's true, HOW is he manipulating gas prices?
Comments
SOME people blame Bush for EVERYTHING - gas prices are no different.
In a way they are right- if not for the war in Iraq creating an unstable middle east where all the oil comes from, there would be no record prices such as now.
There are major economist that credit the law that allowed the oil futures market to be on the open market , and it is the speculators that are running up the prices This was pushed into law by Bush. It is probably a combination of the two.
In every problem, people need to have someone to blame. President is a convienent target. Many many individuals in oil rich countries in Opec and elsewhere that control supply are half at fault. The other half at fault are those that demand oil constantly to fill up cars and suvs Together high demand and low supply creates high prices
He did give us record deficits and a monetary policy of devaluing the US dollar, and that started a general rise in commodity prices dating all the way back to 2002, and he did give us oil supply disruptions, so if you had to pick any single person to blame, it would be him.
Investors aren't helping the matter much by chasing gains in commodity index funds, but Bush set the ball rolling, so if you are going to blame anybody....
There is a lot of anti-bush sentiment out there that is not based on reason but hatred. You're exactly right. There's nothing any president can do to curtail gas prices, at least not in the short term, without causing serious damage to the oil industry and consequently making things worse in the future.
Pip: How exactly has the war in iraq caused gas prices to go up?
W
Wannabe: For a second there I thought you were answering the question seriously....but now I realize you were just trying to make us all laugh. As you probably already know the OPEC countries control 4/5ths of the worlds oil reserves, and even if you put all of the non-governemt oil companies together, Exxon, Chevron, Shell, BP, ConnocoPhilips, they are still very very small producers compared to OPEC.
LOL, that's funny. The president had no control over the gas prices since we don't own the gas.
The only way gas would be cheaper is if:
1. We own it
2. We have an abundant supply of it.
Well it is true that Bush is in a lead position in the oil field; he also began his terms as the leader of the most POWERful nation in the world. He should have and should be able to use his influence to help, especially since our recession to depression will send the world into similar turmoil. He's part of the buisness itself as well as leader of a huge number of consumers; and if he's from Texas surely he can bluff, there must be something he could say to influence OPEC.
Not every president. But this particular president comes from an oil family and is cuddly with the Saudis (including the bin Laden family).
the president of the united states does not control globally traded commodities. the price of gas is up 25% in the last 6 months in europe, it has nothing to do with bush Inverstors drive up the price
ummm.. I don't think people believe he gets up in the morning, reads the paper, drinks some coffee, and sets the gas price. What they DO believe, and with some valid logic behind it, is that his policies and endeavors into Iraq have caused the price of gas to increase.