Oil Companies worried Obama will win: gas prices dropping over 50 cents in North Carolina (gallon, Congress)

[gsoboi]

I noticed this before the election in 2004 and it happening again today. The gas prices here in North Carolina have dropped dramatically. This hint the oil companies are afraid the republicans are going to lose power. Has anyone else noticed this where they live? Not too long ago, in fact a few weeks ago gas was $3.70 per gallon for regular. I just got gas at a gas station where the gas is $3.06 per gallon.

[Centaurmyst]

It's as low as 2.82 where I am. The average is about 2.89

[gsoboi]

Its very obvious why the gas prices are falling.

[sacredgrooves]

They are still about $1 per gallon higher than when the liberals took control of Congress.

[meson]

Good let them worry, they've been sticking it to us long enough.

[geeoro]

The Oil companies want McCain's tax breaks and incentives. They can then take the public for even more money.

[pghquest]

Originally Posted by gsoboi

Its very obvious why the gas prices are falling.

Please enlighten me oh oil price supply/demand/refinery expert.. Why are oil prices falling? (ps before you claim its because they want McCain to win, us oil companies are TINY compared to many in the world, and the world suppliers are talking about reducing production to raise the price again, (to $100 brl) before election day)

Also take into account that federal mandates on ethanol fall off this time of year causing gas to drop about $.20 per gallon. (goes back to the Clinton administration)

[pghquest]

Originally Posted by geeoro

The Oil companies want McCain's tax breaks and incentives. They can then take the public for even more money.

I bet you think Bush planned 911

[gsoboi]

Its just interesting that this always happens days before the election. It happened in 2004 as well. The timing is not coincidental. As Geeoro pointed out, McCain would give the oil companies tax breaks and incentives so its in their best interest to do all they can to support John McCain even if it means lowering gas prices during an economic crisis.

[pghquest]

Originally Posted by gsoboi

Its just interesting that this always happens days before the election. It happened in 2004 as well. The timing is not coincidental. As Geeoro pointed out, McCain would give the oil companies tax breaks and incentives so its in their best interest to do all they can to support John McCain even if it means lowering gas prices during an economic crisis.

It happens every fall due to federal mandates. Oil companies could care less about their incentives, except when they are trying to compete against government owned oil companies (rest of the world). Other than that, they will just pass the price increases along to us, the consumers. Do you think they care if we pay $2.89 or $4.19 a gallon? Their profit margin is the same..