Price dip adjusts Bush's gas legacy

I'm not sure I follow the logic here. I may be predisposed to criticize Bush but it seems to me that the hike in prices over the last few years somehow had a lot to do with Bush and you're trying to tell me it's quite the contrary.

You're right, you didn't follow the logic... the article says that gas prices today are lower than they were when Bush took office. The article doesn't address the causes of the increase or decrease, it simply states a fact. GAS PRICES ARE CURRENTLY LOWER BY 9% THAN THEY WERE WHEN BUSH TOOK OFFICE. It's very easy to understand if you don't try to read into it what isn't there!

I'm not sure I get you're hostility but don't really care one way or another. The article definitely has a couple of slants but to be fair it goes both ways. Watch your blood pressure southpaw!

Let everyone remember the average price of gas DURING his presidency. Bush has taken measures destroying civil liberties and the economy. Just look around you! Hardly anyone ownes their homes or cars and nearly everyone, even the "wealthy" are in debt. Great job!

It'll take a while to forget.

Since Communist George Bush became president not only gas prices are down are entire economy is down!

So after the nation has been brutally raped by the oil interests (the $4 gas had nothing to do with anything but speculation fueled by you know who), Dubya pulls up our pants and says: "See, no harm done!"

Lol such naivete. What Civil Liberties have been taken away from you? Name one. Name an American Citizen arrested and thrown in jail. Name the exact measures and steps that GWB took to bring down the economy. If I recall, it was Barney Frank and Co. who ignored the calls to regulate FannieMae and FreddieMac. It was the Clinton administration that pushed for loans to be given to risky loanees. I do agree GWB's response has been wrong...there should not be any bailouts, but come on....stop falling for the propaganda.

Ridiculous. Of course people reactively toss rhetoric while ignoring the underlying data. After a long, slow rise of prices, and then a sharp drop, has anyone actually thought about the _average_ paid _per vehicle_ from 2001 to 2008? That is a much better assessment than the short-sighted, spin-driven reactive drivel that our media outlets feed us like slop from a trough. Is everyone here truly honest with themselves and their reasoning? We should exist in an age of reason, but it seems as if reason is the most neglected of our capacities. USA??? Really? -Will

Munky, Barney Frank had been screaming since 2002 to regulate the lending practices, and while Clinton’s policies made it easier to get a home loan via low interest rates, it was beginning in 2003 that mortgage companies introduced the very low ‘introductory’ rates, adjustable of course in five years in relation to the prime. Many people bought those with the assumption that there was simply no way housing values could drop –they could refinance or sell when the time came. These mortgages were sold to larger brokerages with the same assumptions, everybody collateralizes their house for the upward value, then pay off their credit cards, wallah! It works great in the Capitolism formulas from business school, alas which make no assumption for human greed. A lot of huge companies made huge profits with Bush’s blessing, as regulations would have curbed this inevitable house of cards. The entire GOP screamed socialism at every attempt to educates the home owners, or at least protect them, now it’s Barney Franks fault? If you think the lobby-controlled government falls down political lines over who protect you versus who protects the lobbyist, you’re every bit the fool they hoped for.

gatovato: You must be predisposed to criticizing Bush, because you can have no real explanation for why you say the increase in gas prices had "a lot to do with Bush". In truth, there is no real evidence that Bush has anything to do with the price of gasoline--whether it rises or falls. The true point of this article, to me, is that it was silly to blame Bush when gas was above $4.00/gal. and it is silly to give him credit for where it stands now. Bush can no more control the price of gasoline than he can the weather, which is another crock the left wing wants to pretend we have power over.

Hey Mag7 ... B Frank helped cause the Credit mess. The legislation he wanted to impose would have made things even worse. We need to trash the regulations that encourage (and to some extent even require) banks to make risky loans to unqualified borrowers. We also need to reform Sorbrains Oxely, or get rid of it. The crisis was precipitated by a rule in it that required companies to track their net worth on a daily basis. When Fanny and Freddy effectively went under (however briefly) it took out everyone else all at once. The Dems have not put forward one piece of legislation to fix these problems. Until they do, or until they are replaced, the problems will persist and the bailout will continue to have little or no effect on the overall economy. BHO's hope and change is starting to look like any thing but; and, he's not even in office yet.

Smartypants: I really don't give a hoot about left wing or right wing but I can certainly tell when somebody has an agenda. The Bush family has had an agenda with the oil industry for decades and that is just a plain fact. Personally I have no problem with it because I work in the oil industry and these low prices are killing me. But you cannot convince me that he had nothing to do with the rise in prices, it is quite obvious also that he indirectly had much to do with the low prices today given that he is partially responsible for the economic situation the country is in now. I don't want to insult anybody but I think you are underestimating how much Bush's administration has been in cahoots with the oil industry and how much interests his family has in many of the oil companies, in Kuwait and with the Saudis. I've worked all my life in the industry and it is inevitable to not know these things.

gatovato: I'm happy you work in the oil industry, but you still have provided absolutely no evidence to support your outrageous claims, that Bush somwhow can control the world oil market. Plese do not tell me who has an agenda with what without offering up some proof, or at least a cogent argument. High oil prices hurt Bush and his parties popularity. Why would he want that? Further, why would he want prices low now, when he is a lameduck anyway. You see, your whole argument is illogical. Further, the economy was still relatively strong even when gas was $4.00. That is a fact. Check out the inflation, unemployment, GDP growth stats and you will see they compared with the 1990's. The mortgage crisis was precipitated by Democrats like Chris Dodd and Barney Frank, who have been on the dole from Fannie and Freddie for years. Bush was not taking money from these organizations, which grew so large that they held one of every two mortages in the country. These are facts, gatovato, as opposed to what you are saying, which is complete conjecture.

Smartypants: I never said that Bush can "control the world oil market". Don't put words in my mouth that I did not say. A president of the USA is privy to all kinds of information that can be used in many different ways at his will and they also wield tremendous influence on decision making in the big money interests around the world. The Bush's interests in the oil industry go back to the 1950's and they have become a very influential family. There is no conjecture there and if you really think it's conjecture read and think about it or do you think things of this sort are going to be put in black and white or idiot proof like our US Highway system. If this were the case half of our politicians would be in jail. I could say the same thing about your claims on Fannie May and Freddie Mac but I'm not going to because all I know is that these companies have been around since 1938 and politicians from both sides of the aisle have had a hand in what they have become today. I think Dem's and Rep's are so intertwined and mutually responsible for the current fiasco there is no point in even wasting your time blaming left or right. There are decades of corruption involved in the housing industry from both sides of the aisle.