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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Ann Corrigan who wrote (38207)8/6/2008 12:24:35 PM
From: Kenneth E. Phillipps  Read Replies (2) of 224749
 
Of course, the recent plunge in oil prices is likely to complicate the entire gas price situation. Once again, some might argue that a slowing global economy and some degree of so-called "demand destruction" in the United States has played a part but it is hard to see how these developing trends could produce the recent sharp drop in oil prices. While consumers will welcome any relief of the pressure at the pump, the timing of the current price decline -- coming just about three months before the November elections -- may actually end up increasing consumer concerns about gas price manipulation. In this regard, Americans might reasonably ask what has happened over the past few weeks to explain a plunge in global oil prices. And, how likely are gas prices to reverse course once more -- particularly after the elections and as the need for home heating oil increases?

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