Is there an oil conspiracy before the elections?
Do you think it's a coincidence that gasoline and crude oil prices are falling just before the mid-term elections? Political pundits and commentators are busy trying to piece together the makings of a conspiracy.
According to a USA Today poll, a significantly large part of the public thinks the Bush administration is deliberately manipulating gas prices ahead of the elections. What are some of the signs? Bob Woodward's new book claims a Saudi prince told the president he could bring prices down by increasing production. The Energy Department is holding off oil purchases for the Strategic Petroleum Reserve, which relieves pressure on inventory. And there's the investment firm that is shifting its priorities, possibly forcing investors to dump speculative positions in gasoline.
Daniel Gross goes into more detail in his story for Slate.com, basically killing any notion that a president, prince and investment firm could lower prices. He says it was just "electoral good luck."
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