Blame Bush For Gas?

While surfing the internet today, I found this comment on another person's blog. The poster is saying the President is to blame for the high gas prices...though the hurricane has "some" effect.

Hmm...last time I checked gas (and I drive by about 5 stations on my way to work), the price on Monday morning was in the high $2.70's on the South Side of Milwaukee. Today, gas was up to $3.25. The 55 cent difference was "some effect" and we should blame the President for the rest??

As I see it, it is as easy as simple supply and demand. The supply of American produced oil is low. The demand for oil in America is high. If you were a supplier of oil, wouldn't you charge the highest price you possibly could in order to make the most profit possible. I know I would...regardless of what the President was doing.

It's kind of like the black market...or scalping tickets. If tickets are around, scalpers do not make money. If tickets are scarce, scalpers make good money. Very rarely do the people selling the tickets change their price depending on who they are selling to (unless they are from Chicago!).

As long as people stay dependent on automobiles (I know I will be) the price of gas will continue to increase until the equilibrium point is reached when producers of oil are not moving their supply enough to make a profit. I don't believe that "magic price" where people will stop driving even exists...especially since many people said that "magic price" was $2.50 or even $3.00. And I don't know of too many people who decided to take the bus or bike to work this week! The price of gas will continue to increase until the equilibrium point is reached when producers of oil are not moving their supply enough to make a profit.

Also, if the President is to blame for the high price of gasoline, then why have prices for gas in Europe been so high (still much higher than gas here today!) for years. President Bush is not in charge of Europe also, is he?

Here are the gas average gas prices in Europe as of mid-August...

Netherlands $6.77
Norway $6.56
Denmark $6.29
Belgium $6.02
UK $6.02

Wisconsin 8/05 $2. 70's
Wisconsin 9/05 $3.20's

He is our President people! As much as I agree with him in some areas, and disagree with him in others, he is still the elected leader of our country (don't even start talking about "stealing" elections!) Face the facts, or at least follow through with your empty promises to "move to Canada if Bush is re-elected". In other words, "Take off...eh!"