And that would mean .... what?
Morse also said gasoline, rising rapidly in August and September due to refining issues and Hurricane Isaac, could start to decline.
"The gasoline market should ease substantially by the middle of winter," he said. Morse said he expects to see gas prices head back to $3.50 per gallon, from the current national average of $3.85 per gallon.Locally, just west of Boston, the price is generally $3.99/gallon, so maybe we'll see gasoline down to $3.75/gallon.
By the way, on another note, these "national average" prices are also misleading. I've talked about this before.
First, human nature is such that whether one is paying $3.50/gallon or $4.25/gallon, the typical driver will say they are buying "4-dollar gasoline." Daily and weekly fluctuations between $3.50 and $3.75 have little psychological impact; perhaps as one gets to $3.91 and higher, it might elicit an emotional comment.
Second, if the "national average" is not weighting prices for gasoline based on population density, the averages don't mean a whole lot. Folks on the northeast and west coasts are cynical when they hear the "average": they are paying much more than the average. Meanwhile, folks in the flyover states and the south are slightly more smug, noting they are paying less than the national average. But very few folks are paying the "average."
But the "average" price of gasoline dropping from $3.85 to $3.50 hardly seems worthy of an "October surprise" headline.
So if the president can control gas prices, as you've asserted in past posts, then he will keep prices low. If prices spike then he doesn't actually want to be reelected?
ReplyDeleteI honestly don't think President Obama cares about whether he is re-elected or not if it comes down to the price of gasoline. A president's legacy is not built on the price of gasoline. I doubt he could tell you the average price of gasoline on any given day. I know I can't.
DeleteHis energy secretary has stated that for renewables to be competitive, US gasoline prices need to rise to prices we see in Europe.
Presidents are "change agents." The President is clearly anti-fossil fuel; everything I see in this administration is a push toward renewables at the expense of, or, in lieu of renewables. Among many data points in his legacy, pushing the nation off fossil fuel and to renewables, regardless of cost, is high on his list. If successful, hat would make him one of the greatest "change agents" in the history of American presidents. It would be similar to FDR and the social safety net. And/or JFK and "landing on the moon" which propelled the US into the modern space age. Lincoln: saved the Union. Teddy Roosevelt: national parks. Barack Obama: renewable energy; US independence from OPEC. Now that's a legacy. But he needs four more years to do that; he has started (killing the Keystone XL was a shot across the bow) but there is much more that needs to be done. He has said as much. Killing coal is a huge data point on his resume, but he realizes it was a combination of factors that resulted in that; factors that will allow coal to rise again from the dead if his efforts are ultimately unsuccessful).
On a separate note, it appears the mainstream media's talking point on the price of gasoline is that we will see a drop in the price of gasoline going into the election. Whether we do or not is inconsequential. Perception is more important than reality. If mainstream media can convince folks that the price of gasoline is going down, they have done their part.
My point of this particular posting is that a drop from $3.85 to $3.50 is not worthy of being called an "October surprise." But labeling it worthy of an "October surprise," the mainstream media has significantly lowered expectations (at least in this arena).
Israel taking out Iran's nuclear facilities would be an "October surprise" except for the fact that this eventuality has been telegraphed for weeks. The only question is "when," not "if," according to many. Personally, I don't see it happening the way pundits suggest.
For the love of God. I wish this nation would wake up! I love this country, but sometimes theres a tipping point! I lived in Europe in 1970 with the school teacher mom. Mom talked my ear off about the world back then. She was very interested in the world and how views interconected. We stayed in Norway for several months. Very hard back then to find housing in Norway. Wait lists. Think we might be a little brighter in the world if we did our history classes with enthusiasm. Had a few history teachers that survived the war. They had some tearful stories to tell.
ReplyDeleteThank you; you put everything into perspective. I have posted more than once, folks need to read "Giants in the Earth."
DeleteThank you for taking time to comment.
Anyone who thinks that Israel can "take out" iran's nuclear bomb program (assuming Iran has one) is delusional . True Israel is able to start the job but does not posses the capabity to finish the job by itself. And what nation will bibi ask to jump into the fray ? Yes, that's right. Bibi's short list of nations who can help has only one name. Very disturbing to me that Israel pm is going out of his way to inject himself and by virtue of his position, his nation into the US presidential election on behalf of mr Romney. Not good. Especially if by some miracle Romney gets elected and is then beholden to Israel pm for his election.
ReplyDelete1. As noted above, I agree with you: I don't think Israel will "take out" Iran's nuclear sites the way pundits suggest. On at least two occasions, Iran's nuclear facilities have already been hit.
Delete2. With regard to "injecting himself" into US politics, that is not a bit surprising. At some level, this is all about politics. The incumbent president holds "all" the cards. As far as I can tell, Romney holds no cards at this point with regard to Israeli-US relations.
3. I don't believe in miracles when it comes to elections. I think God has other things to worry about.
4. I doubt any President feels beholden to anyone, except perhaps his significant other, which to date, has generally been a wife.