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Drivers benefit as oil prices drop sharply

A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. Over the past three weeks, the price of oil has fallen by 9 percent to $89 a barrel.

 

Can a Simple Thing like Rising Gas Prices Derail Both The Economy and Barack Obama's Re-Election

Thu, 03/29/2012 - 2:04pm — Sin-Mao Yang
Gas Prices

It’s hard to think that increasing gas prices alone can derail the economy and Barack Obama’s re-election along with it, but the media certainly makes it seem possible with their headlines.

I remember during the summer of 2008 - in the heat of the presidential election - we encountered the same issue. Democrats tried to blame higher gas prices on then president George W. Bush. There were talk of opening up our oil reserves, more drilling, and regulating speculators.

 

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