Gas price rise undermines U.S. election conspiracy

[Omaha Steve]

Gas price rise undermines U.S. election conspiracy

http://reuters.excite.com/article/20061031/2006-10-31T222628Z_01_N31214124_RTRIDST_0_POLITICS-ENERGY-ELECTION-GASOLINE-DC.html

Gas price rise undermines U.S. election conspiracy
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Oct 31, 5:26 PM (ET)

By Tom Doggett

WASHINGTON (Reuters) - A widespread conspiracy theory that the White House engineered gasoline prices lower to influence next week's congressional elections was undermined by news of a small hike at the pumps last week, the industry's main trade group said on Tuesday.

Polls show that many Americans believe oil companies have been working with the Bush administration to keep gasoline prices lower in an effort to help Republican candidates. The White House has denied such a link.

"It's all supply and demand. The (oil) companies do not have the ability to manipulate the market in any way," said John Felmy, chief economist for the American Petroleum Institute trade group.

The Energy Department reported Monday that the national price for gasoline increased a penny to $2.22 a gallon last week, the first rise in three months.

FULL story at link above.

[LiberalEsto]

1. They simply raised prices a bit

to make us think there's no conspiracy.

[cspanlovr]

2. A penny? Bush and his ilk don't care what happens to the

republican party after they're gone. They've made their money, and we'll all just suffer the consequences. And they'll still be in charge, but in corporateworld.

[requiem99]

3. "Supply and demand" is not true.

Anyone who has ever dealt with the economics market for refined petroleum knows that the US market is fairly steady but RISING, there is none of this mythical "drop" in demand for gas. Do you think people just stop driving because gas is expensive? Most of us CANNOT.

[Thor_MN]

4. OK, I'll believe if price don't rise for the next two years....

[jayfish]

5. !!!!ZOMG... A Penny?!!!

What a bunch of tools. I think the desperation in this story undermines Reuters credibility.

[onehandle]

6. But, it's even lower this week. nt

[Strelnikov_]

7. This Is An Onion Piece, Isn't It?

"It's all supply and demand. The (oil) companies do not have the ability to manipulate the market in any way," said John Felmy, chief economist for the American Petroleum Institute trade group.

[theophilus]

8. Yep. Gas is up here a whopping four cents! At $2.02. Not long

ago it was $2.89. Yep. No conspiracy. Right.

[BattyDem]

9. What rise? My local Exxon was $1.99 today.

I don't get my gas there, but I drive by it everyday. I couldn't believe it! I haven't seen it below $2.00 in years.

[ewoden]

10. Even the petro companies see a losing Republican party. . .

They are hedging their bets.

[jdadd]

11. Hmmm...

Ok now...weve got to show this isn't a conspiracy...we raise the price then you release the story....got it? :think: