So we may be in for a gasoline price plummet. Will Barrack Obama be credited? Does the president sit there at his desk and wiggle the gas price lever and watch what happens?
Republican strategists, advice for you: Blame Obama for not keeping the price of gas stable. Get on FOX and say how you would have been fine with high gas prices. Say that the real problem is market instability. Then somehow claim that the instability results from TOO MUCH government interference in a market that’s actually far too global and unregulated to impact significantly by government action.
Will Obama get an easy ride to reelection if prices do drop significantly? Perhaps. Whatever the case is, We need to double down on economics education for the general public, because the electorate seems clueless about the true complexity of economics issues.