Want Lower Gas Prices? Be Careful What You Wish For

via internet business politics

The day before the 2008 elections, Michele Bachmann took credit for the fall in gas prices, saying:

"We saw gas at $2.04 today. That was my goal, when I started this year I wanted to get gas below two dollars a gallon and we are almost there..."

Of course, the reason gas prices were so low was because the economy was in total free fall. I wonder what she is hoping for now; as one analyst said on CNBC:

He and [Tom Kloza, chief oil analyst at OPIS] said if Greece were to default, Brent [crude oil] would immediately drop because of the potential ripples across Europe's economy. "If you're hoping for $2.50 to $2.75 gas prices, you probably don't realize it, but you're hoping for a recession," said Kozla.

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