posted on Dec, 17 2012 @ 05:17 PM
While I can't disagree that Obama is helping to lower gas prices, I can't take the stance, which I'm inferring is shared by you, that he has much
to do with it at all. While gas price is as hot of a topic as health care and unemployment for the political theatre, there are very few government
officials that have anything to do with setting/maintaining/changing prices beyond the negotiating federal and state transportation tax side of it.
The larger Financial firms like Vitol SA, Goldman Sachs, Morgan Stanley, Barclays, JP Morgan & Chase, Deutsche Bank, Credit Suisse, Lehman Brothers,
Merrill Lynch, etc... historically, and presently, influence the per barrel price of oil more than anyone else without ever refining the first drop
for consumers and their Chevy Volts to save MPGs with.
Now, that being said, I would tend to support the argument that Obama is in fact lowering gas prices by letting Bush-era tax cuts to expire, focusing
on the capital gains side of those cuts. The expiration of these tax cuts are effectively saying, to just about anybody that actively trades but
certainly the big guys;"if you have any positions you've been waiting to take your gains on, do it before next year."
Simply, oil speculators are selling now to take profits before the tax hikes. This is why oil prices have been slipping. The answer to your question
is; that it is irrelevant in the sense that it implies causality to a non-affecting variable and that the only way a politician could, legally
speaking, affect gas prices would be indirectly.