…Vote Bachmann. :crackup:crackup Pretty easy right? So do your part (for those who actually vote)
She makes me wish Palin is running…:crackup
Bachmann Promises $2 a Gallon Gas - But Analysts Are Skeptical
By Anita Lienert, Correspondent | Published Aug 18, 2011
GREENVILLE, South Carolina — Presidential candidate Michele Bachmann is promising that gas prices will fall below $2 a gallon if she’s elected — but oil and petroleum analysts tell Inside Line such a scenario is unlikely.
The comments created a firestorm on the Internet after the Minnesota Republican said earlier this week that “under President Bachmann, you will see gasoline come down below $2 a gallon again.”
Bachmann noted that gas used to go for $1.79 a gallon the day President Obama took office. The price of a gallon of regular is $3.58 today, up from $2.73 a year ago, according to the AAA Daily Fuel Gauge.
Her comments were greeted with skepticism by oil and petroleum analysts contacted by Inside Line.
“The price of oil is determined by a three-ring circus made up of the equities markets, currencies markets and commodities markets,” said Tom Kloza, chief oil analyst for the Oil Price Information Service, in a phone conversation. "Whether it’s Michele or anyone else, these sort of statements that a person could become a god or goddess of Mt. Olympus are a lively side show.
“The quotes stand for themselves. The last time we saw prices under $2 it was a consequence of being in the depths of the worst recession in our lifetime. It’s kind of a silly statement.”
Kloza warned that if consumers see much cheaper prices, it will mean that “central bankers have lost the battle to stave off deflation.”
Gregg Laskoski, senior petroleum analyst with Gasbuddy.com cautioned Inside Line that “we have a difficult time predicting what fuel prices will be 30 days in advance.”
“What would have to happen to the U.S. economy for gasoline prices to return to $2 a gallon?” Laskoski said in a phone conversation. “We have to be careful what we wish for. You can hit $2 a gallon, but it could be because consumer demand is so poor, that’s the selling price. It might not mean that the economy is healthy and robust.”
He added: “Historically, gas prices follow seasonal trends. Even then, there are still a lot of variables that could disrupt that. Whatever this woman is thinking, it’s baffling to me.”
Bachmann, a U.S. representative, has not said how she will make $2-a-gallon gas happen. Her Web site addresses dependence on foreign oil and advises cuts in “federal regulations that drive up energy production and processing costs.”
She advocates “increasing U.S. capacity to refine crude oil and exploring areas that are currently off limits to domestic production like the Alaskan Energy Slope, the oil shale areas of Colorado, Utah and Wyoming, and the outer-continental shelf.”
Inside Line says: Sounds like little more than a whopping campaign promise.
source: Insideline, CNN