Why doesn President Bush Lower Gas and Diesel Prices?
NEWS FLASH: The President, ANY President, CAN NOT raise or lower gas or diesel prices. He can recommend to Congress that they do away with or lower the federal taxes levied on fuel, but that’s up to Congress. He can recommend to Congress that they allow oil exploration where they are currently forbidding it, but again, that’s up to Congress. He can open the Strategic Reserve and flood the market for a day or two, but then OPEC will just cut production more. He doesn’t own Exxon. He may own stock in it, just as millions of Americans do, but he doesn’t own the majority of the stock. If Exxon and other fuel distributors started selling fuel for lower than the cost of production, how long would they be in business? American oil companies don’t set the price for crude oil. OPEC does that by manipulating the amount of oil produced. If they want to take oil to $500 per barrel, all they have to do is squeeze down production some more. Blaming Bush for high fuel prices is silly.
Because the high gasoline prices are NOT President Bush’s Fault. If you want to blame someone, blame the environmentalist who DO NOT want the United States to drill for Oil in the United States. If the environmentalist had it their way, we would be riding bicycles and walking everywhere. Source: Pat Robertson from The 700 Club who believes that it is the Environmentalist At Fault for High Gasoline Prices. EDIT: If you believe the gasoline prices in the United States are high, try paying European Prices. Europeans pay up to three times for just one gallon of gas so if you believe paying $3.50 for one gallon is high, try paying between $7 and $11 for just one gallon.
