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Letter: Presidents cannot lower gas prices

Editor, Gazette-Journal:

Gas prices and the president, can he really make a difference? In the second debate, the candidates were asked, since gas prices are often used as a way to illustrate a president’s success or failure, can they really lower prices. Many folks at this point will automatically say yes, a testament to the "tell a lie enough it becomes true" political strategists’ hard work. But no, gas prices are, for the most part, a function of OPEC and events.

OPEC, the Organization of Petroleum Exporting Countries, sets the per-barrel price at the wellhead for the whole world. Transportation, refining and speculation increase its value even more. Events such as civil war, oil spills and refinery fires can cause spikes also. Notice politics not mentioned so far? Oil is fungible, just like money, no matter where it is produced. We do not get a discount. Today, for example, Canadian oil (and natural gas) is being produced, transported through our country, some of...

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