Is Big Oil raising gas prices artificially high to help Romney?

[wordpix]

For quite awhile during the O admin., gas prices were around $3-3.50/gal but lately have shot up to $4 in my city. First of all, we're drilling all this oil on public land and it's not to create an energy independent America; our oil gets thrown into the international pool and sold on the international market. Neither O nor R$ spoke about this fact last night.

Second, it seems fishy that gas prices are suddenly shooting up right before the election, esp. an election that R$ is losing in the polls. And then R$ brings up gas prices in a conspicuous way last night. Or is it just a "coincidence?" Does anyone have info on the reason(s) for the price increase? I am hypothesizing that Big Oil is behind it, based on Big Oil's backing of R$.

[lapfog_1]

1. yes.

[ForgoTheConsequence]

2. Went down 15 cents last night.

3.39 a gallon.

[Egnever]

3. No

Oil prices are set in the commodities market not by big oil.

It is based purely on speculation.

[MrSlayer]

11. This is the answer.

[aint_no_life_nowhere]

4. I'm sure if Rove thought a couple of phone calls could pull that off, he wouldn't hesitate

not one instant.

[sasha031]

5. Bobby Kennedy jr (Ring of Fire) spoke of this about 6mnths ago, that Koch broth

had the capacity to buy up oil & store it offshore. He also said they & the oil barons really hate this President and will do everything they can for him to lose.

I don't think it's a coincidence either, that prices are rising.

[FogerRox]

6. Nope. they do it for the money

[JDPriestly]

7. Accidents or fires in a couple of California refineries haven't helped.

The price has nothing to do with any policy of Obama. It has strictly to do with the way the oil business works.

[moondust]

8. Is it up at CITGO?

CITGO is owned by Petróleos de Venezuela, S.A., the national oil company of Venezuela.

It seems to me that in order to either help or hurt an incumbent President's reelection chances--which is the only time this scenario might make some sense--is if ALL the oil companies participated conspiratorially. Otherwise there would be wildly fluctuating prices from one brand to the next, no? Would the Venezuelan company go along with the scheme of their competitors in the U.S.?



Edit to add that Venezuela is a member of OPEC, which adds another twist.

[TheKentuckian]

9. Gas was high as hell in 2008

Pols need to stop lying about oil and propping up vast misconceptions of the American people on this.

[GitRDun]

10. Cannot be Done

There is absolutely no way to effectively collude or control gas prices. No group controls enough of the oil supply or refining capacity to do it. I am in the oil and gas business. Have some direct knowledge.