Where Are the High Gas Prices?
Not surprisingly, politicians like Wisconsin’s Herb Kohl demagoged the issue, blaming the oil companies, and demanding an investigation.
But then, prices began to decline.
If Big Oil manipulated the prices to increase their profits, then why in the world would they let them go back down? The conspiracy mongers had an explanation. Big Oil was trying to manipulate the November election by reducing the price of gas in order to help the Republicans.
Now the election has come and gone, and prices are still low. We just filled up at a station where the price for regular was $2.25.
Journals such as Investor’s Business Daily say “Holiday Sales Should Be Strong As Low Gas Prices Spread Cheer.”
Are the nasty monopolists in Big Oil asleep at the switch?
Or could it possibly be that the price of gas is set by supply and demand in markets?