Anyone who drives on a regular basis has noticed the significant decline in gasoline prices in the recent weeks. There has been a noticeable decline of more than 50 cents per gallon since August. This decline can be attributed to a number of factors. For one, there is a growing realization that a conflict with Iran appears less likely in the short term (given the unwillingness of Iran’s opponents to impose sanctions or any other punitive actions), demand for petroleum has decreased as the summer travel season comes to an end and production has increased as more facilities come on line in the wake of last year’s hurricane damage in the Gulf.

The sad fact is…President Bush is receiving credit for this decline in energy costs, leading to a boost in his overall approval ratings, or so the media would have us believe. If this is indeed true, it serves only to demonstrate the overwhelming stupidity of the American electorate. The president no more deserves the credit for declining gas prices than he deserved the blame for their increase. The factors that influence the price of oil are largely beyond the control of our nation’s chief executive, only in a highly centralized planned economy like the Soviet Union, could the nation’s leaders share any responsibility for such costs.

The factors that drove up costs in the first place, factors such as limited refining capacity and increased global demand (particularly in China and India) where beyond the ability of the White House to influence.

The perception among the overall population that the president has influence over such factors is a testament to leftist demagoguery (and public education in America). When gas prices were on the rise, the left tirelessly painted Bush as the culprit and an ignorant population, easily manipulated and susceptible to suggestion, embraced the notion. Now, by same stroke of happenstance for the president, prices are on the decline and thanks to the left, the president can claim credit.

Vox populi, vox humbug!
http://www.usatoday.com/news/washington/2006-09-20-bush-gas-prices_x.htm