I just overheard a co-worker speculating that the Republican Party is responsible for oil and gas prices falling. The argument goes that "they" want America not to think about gas prices at election time. The "logic" goes like this: the oil companies own the party, and since the oil companies want the Republicans in power, they are driving the price drop to manipulate the November election.
These people are great at speculating how things could work, but not so good at figuring out how things actually do work. Which is the main reason I don't want them winning elections.
It would be instructive to invstigate how many Congress Critters -- and which ones -- own stock in oil and how many of them -- and which ones -- get contributions and lobbyist niceties from oil companies. Not that that would necessarily prove anything (remember, evidence != proof). My bet is that the Leftist Nuts would be shocked and their theory would be dealt a huge logical blow.
Meanwhile, the sane world says that oil prices have been, for the past 6 months, inflated by spot market hyper-speculation of risks, plus diminished refinery capacity due to last year's hurricane season, and the heightened summer demand -- all of which have, over the past several weeks, been soothed. The price of oil was un-sustainibly high due to -- market forces largely outside of Oil Company control. The oil companies benefit, for sure, just like you do when the value of your real estate jumps dramatically.
No, no! Say the conspiracy theorists. Everything I don't like is being controlled by Karl Rove!!!!
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