gas price 2.03 a gallon today....low before elect. If Obama wins, it will spike up greatly

[greenbriar]

I filled up and predict it will get lower until tuesday then spike way back up and the gop and rush and et all will blame it on Obama

[snappyturtle]

1. I KNEW it would go down before the election. I don't worry about Sen.Obama

weathering the storm over a rise in prices. He'll tell the truth.

[Richard D]

2. Whoever wins . . .

. . . it will go up shortly after Tuesday. My prediction.

[cemaphonic]

3. Gas goes down before every election, because it goes down every fall

On top of that, it has gone down thanks to the speculative bubble in futures popping, and the threat of worldwide recession (or worse). Demand is way down. It seems unlikely that anyone trying to help McCain would engineer a global financial crisis to break a month before the election.

[PeaceNikki]

7. Exactly.

[rocktivity]

4. You can thank both the election and the financial crisis

Gas fell below $2 a gallon in '06--and as a result, I won a bet. And if there's anything good that can be said about the meltdown, it's rendered the gas price speculators too poor to speculate, and that's why prices are falling faster than expected--I thought we'd bottom out at around $2.40, and not until the end of the week. But somebody told me they they saw gas at $2.29 (Newark NJ area)

:headbang:
rocknation

[Swede Atlanta]

5. Of Course......

Anticipation of the election coupled this year by the staggering global economic crisis will continue to drive oil and hence gas prices down. Given that the oil market price is driven by anticipated (not real) demand for oil, it can be expected that oil prices will spike, although not sharply, after the election of either Barack Obama (GoBama!!!!) or McLame. That is because on that date the current administration becomes totally lame (not that they weren't before) and the markets are hungry for direction from the new administration. I guess whoever wins the markets will expect something better than Bush which spells into optimism for something better than today. I wouldn't worry about this.

[Liberal In Texas]

6. I (and others here at DU) have been saying this for almost a year.

I keep telling people to enjoy it now, it'll start to zig zag back up after Tuesday. As long as there are mega-oil companies controlling the price, they can do damn near what they please. Influencing the election is so obvious.

[ben_meyers]

8. Why do you feel that OPEC will punish us for

electing Obama? I've read that they favor him.

[PeaceNikki]

11. In addition, they've already decided to cut production to get prices back up.

http://www.bloomberg.com/apps/news?pid=20601102&sid=an0jepVxWzQU&refer=uk

Crude oil is down 56%, of course the prices will drop when the barrel drops. Plus, as was stated above, gas prices are generally weak every autumn, not just election years. Not everything is a conspiracy.

[juno jones]

9. One of the reasons we are filling up our LP tank now

The price finally fell enough to be reasonably affordable and no matter who gets elected their gonna screw us after the election. Hell, Bush getting in didn't make one turd of difference last election, did it?

[WindRiverMan]

10. I doubt it.

I work as a federal regulator for environmental stuff in and around oil fields. The global recession is beginning to hurt the gas industry. Also, just a FYI, permits for wind farms, solar farms, etc. are pouring into lots of your federal land agencies. Permits for natural gas wells or oil wells were down in a lot of places. For the first time in years, the latest batch of federal lease sales were down, WAY down. Oil and gas ate steak for about four years, I predict they will be eating beans from here on out.