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ANOTHER CONSPIRACY THEORY

Posted on 10/05/2006 21:29 PM | Link | Post Comment
The GOP is doing it's best to blow itself up ahead of the November elections. But one thing it's got going for it is a strong economy -- which is why you don't hear much on the economy from the Dems these days. Leading the charge of economic good news is the drop in gasoline prices. Here's the best the Left can do to find something wrong with that:
WASHINGTON, October 5 -- According to Bob Woodward, in 2004 Saudi Ambassador Prince Bandar Bin Sultan promised George Bush that the Saudis would help bring oil prices down before the election by increasing the country's crude oil production.

Just weeks before this year's elections, oil prices have been falling fast and several reports suggest that this time, too, it is partly the result of a deliberate strategy aimed at helping the Republicans at the polls.

Goldman Sachs, formerly run by Bush's Treasury Secretary Paulson, announced in July that it had changed the unleaded gasoline component of its widely used commodity index from 8.45% to 2.30%, forcing investors to dump speculative positions in gasoline and consequently pushing down prices.

In another development, the Bush administration changed its original plan to postpone oil deposits to the Strategic Petroleum Reserve until the fall, announcing recently that it will hold off purchases of oil for the government's emergency reserve through the upcoming winter, so until after the elections.

While arguably not the primary force behind the falling oil prices, the foregoing moves do raise questions about whether the Bush administration is using energy policy for strictly political purposes again.

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