Will Gasoline Prices Plummet Into Election Day?

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Prices have just started coming down in election year fashion during the last week of July and Republicans have already tried to take psychological credit for it when Bush lifted the Executive moratorium on offshore drilling.Historical portion of graph from GasBuddy.com.

If the election year effect on gasoline prices ring true as many Americans believe, the price of a gallon of gas can be expected to precipitously drop into the $3.15 to $3.25 range by Election Day 2008.

However, it is my opinion the corporate command in the White House has abandoned the "Energy Task Force" doctrine empowering Big Oil to do whatever pricing control is necessary to guarantee "no shortages" at the pump. In effect, the GOP may have less power to make it happen this time around. Also, investors have pulled away from real estate and the capital markets and have dumped most of their eggs into oil, inflating the price.....until something better comes along.

Americans Blame GOP For High Gasoline Prices

CNN Money Excerpt:
On the other hand, only 31% of those polled think congressional Democrats are a significant cause of high gas prices - 43% termed the Democrats a minor cause - and 26% said they are not a cause at all.

Funny how the CNN article reported polling results only on the democrats and neglected to summarize the polling on Republicans for the high gasoline prices. The word "republican" is nowhere to be found in the article. But apparently they didn’t have to, since most already know that Big Oil, the GOP and Bush policies are one and the same.

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