Read the ever-insightful Randall Parker. The answer of course is no. Here is just one bit:
“Hey, if it is standard practice for the Saudis to lower prices before US Presidential elections then maybe we should amend the constitution to reelect presidents yearly. Think of all the money we’d save.
Given that the price of oil is now at about $35 per barrel if the Saudis have a plan to help Bush it must be a pretty weird plan. A decline in oil prices of, say, $10 per barrel would take a while to filter down to gas station prices and lower oil prices would take a while to boost the economy. Bush needs a robust economy with declining unemployment most of all. Current Saudi oil production levels are therefore not helping Bush to be reelected.”
I also recommend Parker’s two recent posts on Iraq, click here and here. Parker writes: “…what is going on in Iraq is a civil war and US troops just happen to be standing in the middle of it.”
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