Skip to comments.Will Forecast of Rising Gas Price Affect Presidential Race?
Posted on 10/06/2012 5:35:18 PM PDT by Kaslin
The Drudge Report is cheekily labeling an article about the outrageous gas prices and gas shortage in Southern California the "October Surprise." While it's unlikely even $4-$5 (and up) a gallon gas prices will turn Californians into Romney fans, CNBC is reporting that gas prices are likely to keep rising in October:
"It will only take another refinery issue and a bit more of geopolitical noise to have the first U.S. election at a US average gasoline price of $4 a gallon," says energy analyst Olivier Jakob of Petromatrix
Also contributing to the problem in California were issues at different refineries.
In general, however, CNBC cautions that the prices are easily affected:
"Gasoline futures prices dropped 30 cents after the expiration of the previous month's contract, reflecting the seasonal shift among many refiners from summer-grade gasoline to a cheaper winter-blend.On Wednesday morning, the EIA reported a sharp drop in gasoline demand versus a year ago — leading futures to fall to the low of the week. But prices quickly recovered after the fire at the Exxon Baytown refinery."
Gas prices and energy production often make cameo appearances at the top of the news cycle, but it's rarely sustained long enough to have any effective change brought about. Interestingly, Rasmussen Reports shows that likely U.S. voters favor Obama on energy policy:
"Obama’s widest lead is in the area of energy policy. Forty-seven percent (47%) of voters trust him more in this area, while 42% have more confidence in Romney. The candidates were tied in this area late last month."
It might not hurt Romney to get out and talk a little more about the pain at the pump. Since voters still trust him more on economic issues, framing energy policy as an economic argument could play into his favor. Obama's track record on energy (Solyndra, anyone?) really overall is very weak as one looks at the failed investment and also his waffling over Keystone.
Wow! Those last two charts say SO much! What a great email/FB/post card those would make, side by side.
Supposedly the refineries have fixed the problem.
It is expected to have higher prices beginning
Of week then go back down again.
Not sure if back down means to current prices or before the issue.
Even if it went to $10/gal. California will still
Go to Obama.
High gas prices are the result of the culture of corruption of the Republican Party.
Me to. Just hurts my wife who has to commute from here in Placerville to Sac. Funny my deisel is cheaper now then regular.
Here in Central Indiana it jumped 40¢ toDAY!
didn’t we read last month that the Saudis announced they were going to pump more oil and lower gas prices to help Obama’s chances??
Remember all the media’s stories about people vacationing close to home due to high gas prices, of of the rare times they let the man on the street comment, that was prior to 2008 of coarse.
Don’t dwell on that...I mean who can afford a vacation now anyway?
Dropped by my office in Burbank today, station near there had Super Unleaded at $5.98 galLon, I filled up there two days ago @ $4.90 gal.
What could be worse is gasoline shortages caused by drivers keeping more fuel in their tanks.
I agree. I am convinced that there are many folks who are willing to pay more for "better environment"...
Clowart Piven and the housing bubble propping: you can get a new plan only if you promise to screw it up again and again.
Selfish materialist greedy communists never disliked destroying and killing around themselves if they did not get their satisfaction.
The election is over...
Hey, where did you get that gas price chart? ABC radio news is reporting gas prices this morning, but reporter threw in, “Prices we haven’t seen since 2008”. Now I don’t remember too well, but I KNOW it was nowhere near $3.00/gallon!
Never mind, apparently it was pretty bad. Man, I’m getting old.
Can Halliburton still exist if the mainstream media no longer mentions them?
(Herr Goebbles would be proud of all those visceral Progressives who are attempting to manipulate reality.)