Why I’m Glad I’m not a Republican Candidate This Year

Jim Johnson | July 2, 2008 |

Here is the headline from the Tampa Tribune:

$5 Gas Could Be Down The Road

Read that again:

$5 Gas Could Be Down The Road

Yup. It might be a bit “doom and gloom” … and at a newspaper desperately trying to stay in business it could be sensationalism. But if you read the article, you’ll see some wonderful news:

Last week, the Organization of Petroleum Exporting Countries’ president, Chakib Khelil, predicted oil would rise as high as $170 a barrel by the end of the year.

“If that were to happen, we could see another 75 cents added to the current price of gasoline,” said Gregg Laskoski, a spokesman for AAA South in Tampa.

…

“The broader economic indicators suggest we’re probably on the cusp of a recession,” said Scott Brown, chief economist for Raymond James Financial.

…

“The four or five largest oil producers in the world can’t produce as much as they did while they have every incentive to,” he said. “Russia is the largest oil producer in the world, and their production went down in 2007, and it’s down 10 percent in the first quarter of 2008.”

If oil producers can’t increase production, the only way to lower pump prices is to lower demand for petroleum, [James Cordier, president of Liberty Trading Group,] said.

…

Meanwhile, the specter of $5-a-gallon gasoline is looming and motorists are bracing for higher prices.

According to a recent poll by Princeton, N.J.-based Opinion Research Corp., 86 percent of respondents believe gas will top $5 a gallon this year.

Republicans in tight races need to brace themselves for mailer after mailer that show their name next to gas pumps with high prices asking what they did during their tenure to prevent this.

I might be a bit of a chicken little here… but the sky is a fallin’ on Republican chances for victory this year. From John McCain on down.

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Comments

1 Comment so far

  1. Vince on July 3, 2008 11:28 am

    Yes, Jim, you do sound like chicken little. If the hoi-poloi simply decide to “throw the bums out, the Democrats stand to lose the most, since they are in the majority in both the House and Senate. The reality is far more complicated, since it is improbable that Dems will lose both houses of Congress yet gain the White House, and I don’t think a majority of people will blame Republicans for high gas prices, especially when they are in the minority.

    In November, the Dems will probably expand their majorities in the Congress, but McCain will win the White House. The cumulative net effect of the election will still shift the body politic leftward, which will only further complicate our current quagmire.

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