BUSH APPROVAL RATINGS MIRROR GAS PRICES

The left has been claiming that the falling approval ratings of President Bush are due to the situation in Iraq, Hurricane Katrina, Iran, the supposed scandals that unsuccessfully have tried to hang on the administration, his , "failed, " economy that is the most robust in decades and a myriad of other perceived reasons. To the right is an interesting graph that seems to indicate the true reason for the President's falling approval rating. The red line is the Bush approval rating and the blue line is an inverted graph of the gasoline price index. Both lines on the graph begin in February 2001 shortly after the President first took office. It is amazing how they seem to mirror each other. This would indicate that all of the rhetoric that the left and the media spews continually about why the President's rating with the people are falling has nothing to do with the reasons that have been touted by the left but the perception that the rising gas prices are the fault of the President. Of course no President controls what gas prices do because there are a myriad of reasons for price increases including supply and demand which is higher that it has ever been worldwide and oil speculators and their over reaction in the markets which have been the major contributor to much of the price increase. The speculators in the past have always over reacted to world situations then eventually the market would correct itself thus dropping the price. Since 2004 the futures market has had its typical over reaction but has not compensated to balance the price which has caused a huge increase. Adjusting for inflation though what we are paying at the pump is still about $1.00 less than the cost of a gallon of gas in the seventies when the last major increases took place. With the inflationary adjustment and comparing the cost of a gallon of gas today to that of the seventies the price of a gallon would need to reach $3.70 in order to match the gas problems then. Of course none of this eases the crunch on the wallet when we fill up at the pump. Increased exploration, drilling domestically, increased refining capabilities, alternative fuels such as nuclear power and less dependency on foreign oil is a long term answer but for the short term the cry of price gouging is as false as the day is long. Decreasing the demand is the only answer that will in the near future cause a decrease in the cost of oil. Additionally wrenching in the out of control futures market will greatly reduce prices. But to the President's critics maybe a re-evaluation of the real reason behind his approval rating is in order. Of course this won't end the attacks but at least a better perception of the true thoughts of the American people who still as a whole back Bush will be the result.

Ken Taylor