42% of Americans Are Dummies

I just saw a TV news report on a new Gallup poll regarding gas prices. According to the report on the KTLA Morning News, 42% of Americans polled believe President Bush is manipulating gas prices to benefit GOP candidates.

What nonsense! Just what is it that Bush could do that would cause prices to drop over $1 a gallon in the last few weeks? Did he release his secret stash of billions of barrels of oil on the market? Did he call his "buddies in the oil bidness" and tell them to drop prices? The president, despite his previous experience working in the oil business, has no such power. With way too much of our oil coming from foreign sources - many of whom aren't that friendly to the US - the president simply doesn't have that kind of power. In fact you could make the argument that those hostile nations, like Venezuela and Iran, would much rather keep raising prices to damage the Bush Adminstration and GOP hopes in November. So how come they can't keep prices artificially high if they provide the oil? Supply and demand, folks. It's that simple.

Thankfully the TV report also included a response from industry executives who vigorously disputed the notion of political intervention in gas prices. It won't change the minds of the crazies, but at least the sane folks will hear some truth.

By the way, some of the poll respondents said that oil prices were coming down now because oil industry execs feel bad about charging high prices during the summer. Hoo-boy, does this country need some education in economics.