Posted by
PoliCzar on Wednesday, October 11, 2006 6:52:36 PM
In recent weeks, as gas prices started to fall, a number of conspiracy
theories came out via internet blogs, written media and even the news
media. These theories attacked President Bush by stating that he was
the one responsible for getting gas prices lower because of the
upcoming election. Hogwash!
The individuals responsible for
these have way too much time on their hands and no evidence to back up
their ‘theories’. One definition of a theory is ‘an assumption based on
limited information or knowledge; a conjecture.’ If these theories were
based on facts they would be fact, they would not be assumptions.
Analysts
have reported that the falling gas prices are due to market forces. You
could tell as the price per barrel dropped in the market, the price of
gas lowered. President Bush has no control over gas prices. If he did,
he would have lowered them a long time ago when the gas prices started
to rise and these cries of conspiracy rang out once before.
In a
recent news release, “H. Sterling Burnett, a senior fellow with the
National Center for Policy Analysis (NCPA), argued that the theory is
"absurd."
"This is basic economics," said Burnett in a news
release. "Markets, when not encumbered by foolish legislation to 'fix'
a problem, work."
Burnett attributes the recent price drop to three main factors:
•
Increased supply. Previously high prices are bringing more oil to
market -- drilling rigs and production are up, refineries are being
expanded here and built in other countries for the first time in years,
and new technologies are being applied to exploit traditional and
non-traditional sources;
• Decreased demand. In response to high
prices, consumers are conserving. For example, sales of SUVs have
fallen, and more fuel-efficient cars are flying off the shelf; and
•
Decreased risk. Tensions in the Middle East have eased as more Iraqi
oil is reaching the market, Iran seems unlikely to face sanctions, and
Israel has left Lebanon, while the hurricane season has been milder
than predicted. Therefore, inventories have remained high.”
One
other factor to keep in mind is that summer travel season is over.
Every year gas prices begin to rise around Memorial Day and lower after
Labor Day. So, to the conspiracy theorists out there, perhaps you
should study your economics, primarily the law of supply and demand.
The fact many Democrats supported these rumors is worrisome as they do
not seem to understand high school economics. These are the people who
wish to take control of Congress. If they do not understand these
basics, how can they run the government? They cannot.
What is
more worrisome, but not surprising, is the main stream media’s reports
on this subject. They should be reporting facts, but instead they
report on these useless theories. Many major news stations have quoted
new poll numbers regarding this issue. A recent USA Today/Gallup Poll
asked voters: "Do you think the Bush administration has deliberately
manipulated the price of gasoline so that it would decrease before this
fall's elections?" Forty-two percent responded "Yes."
These
alarming figures show once again the influence that the liberal media
has over the American people. After all, if it’s on the news, it must
be true, right?