You Said It: Can Politicians Control Gas Prices?
NEW YORK (TheStreet) -- Michele Bachmann said she would get gas to $2 a gallon. Then Newt Gingrich recently said he could reduce it to $2.50 (if elected). But can any elected official control the prices of gasoline?
We asked readers on
what they thought on the matter. Here's what you said:
:
""Control" no, they could have a short term effect on the price but no lasting effect on the price, big reason for the increase over the last decade or so is the increased demand from China and other emerging markets"
:
"Ron Paul's the only one that would truly make a difference."
Christopher F. Davis on Facebook
:
"Not directly, but they can have a major impact. allowing pipelines, expanding domestic drilling, encouraging trade and cooperation rather than war with energy rich nations...sure. the president has power to influence such matters which in turn impact oil and gasoline prices, supply and demand. thats elementary."
:
"How do they control the laws of supply and demand"
:
"Gas prices are set by the market and international supply and demand...no politician can change the commodity price of oil and gas."
:
"Yes, we can subsidize our oil to slow demand and drop prices."
:
"Only OPEC can even attempt to control the price of oil, and so far, they are hitting their targets very well as they try to deal with the unrest of the Arab Spring."
:
"only if they can control the market and those trading and driving up the prices... let's be real here!"
Andy Ford on Facebook both said
:
"Not sure why we need gas to be $2 a gallon. Let's stop being a wasteful nation and be a resourceful one. But politicians can't change that... the average lazy American needs to."
:
"Of course. If they decide to utilize the nat gas in our own country."
Related story:
History Shows Gas Prices Don't Pick Presidents
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