Democratic Gas Price Conspiracy Theory Shot to Hell
By Andrew L. Jaffee, January 12, 2005
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Yes, the election is behind us, but it is not yet time to heal the wounds. We cannot let the Democrats forget the vitriol they spewed during the campaign. Their ugly tactics are part of history. Forget history and we repeat our mistakes. Remember Bob Woodward’s charge that President Bush and the Saudis had a secret “deal” to keep oil prices low in the run-up to the 2004 presidential election? (See also here). There is no documentation showing that such a deal was ever made. Historical oil and gas prices in 2004 provide empirical evidence that no such deal was ever implemented.
Anyone with an Internet browser can find historical retail gasoline prices at the U.S. Energy Information Administration website. I downloaded their gas price data for 2004 and made it into the chart/graph shown below in Figure 1.
Figure 1. Retail Gas Prices in 2004
Shown below in Figure 2 are crude oil prices for 2004. Gasoline is refined from crude oil.
Figure 2. Crude Oil Prices in 2004
Notice that average U.S. gas prices and crude oil futures steadily rose throughout 2004. Notice also that prices peaked right around election time and steadily decreased thereafter. This data is contrary to Bob Woodward’s conspiracy theory. If Woodward was right, then gas prices would have steadily decreased in the run-up to the election. If there was a conspiracy, then it was one of the most poorly executed in history.
Mr. Woodward is considered to be a pillar of journalism by some Americans. After all, he exposed President Nixon’s Watergate shenanigans. But the fact that Woodward would stoop to lying about President Bush shows the sheer desperation of the Democratic Party in 2004. Their hatred of Bush was so deep that emotion overpowered all the rules.
The Left’s poster children, like George Soros, Michael Moore and the NAACP, spent millions of dollars trying to deceive the American people about President Bush, Iraq, the economy, etc. Look what it got them. Americans -- especially the heartland -- didn’t buy it. Bush garnered the largest popular vote in U.S. history. The President received a real majority, 51% or 59,291,983 votes. The Left can complain all it likes, but that’s the way our system works. If Americans were so fed up with Bush, they wouldn’t have reelected him. He now has a true mandate. Will the Democrats’ resounding loss of the presidency, House, and Senate cause them to think about what is happening? In the short term, I doubt it.
Sure we live in a divided nation, but the division is not between the right and the left, it is between the right and the wrong.