Tuesday, January 02, 2007

Did the Oil Companies Drop Prices to Influence Elections for Repugs?

I though I noticed a drop in gas prices around the November elections. Clem at DK gives us more with evidence from a report on NPR's Marketplace.

Citing Department of Energy data, the Marketplace report notes:

Oil companies simply took less profit from their refineries for a short period of time. Could it have been to influence a political outcome?

Well, right after election day, the price of gas suddenly rose after two months of sharp decline. Post-election, refineries have slowed down, inventories are shrinking, and gas prices are climbing.
Then there is this:
In the run-up to the election, oil companies cut gasoline prices 500 percent more than their raw material cost fell.


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