Expert: Five-Dollar Fuel Prices Unlikely

Rising gas prices are fueling consumer anger and election-year politics. How will the cost affect the economy and President Obama’s re-election chances?

Pitch

Rising gas prices are fueling consumer anger and election-year politics. How will the cost affect the economy and President Obama’s re-election chances?

Expert

Mohamed Soliman, chair of the Bob L. Herd Department of Petroleum Engineering and George Livermore Chair Professor, (806) 742-1801 ext. 232, or mohamed.soliman@ttu.edu.

 

Talking Points

  • Role of gas prices in economy and politics
  • Likelihood of $5 gas prices in future
  • Reasons for fluctuation in oil prices

 

Quotes

  •  “I do not think gas prices approaching $4 per gallon would hurt President Obama’s chances significantly, however $5 would.”
  • “I seriously doubt $5 per gallon would happen by summer, unless Israel attacks Iran – and then if Iran were to respond with a series of attacks, not only on Israel, but also on Saudi Arabia for the perceived notion that Saudi Arabia supported the attack.”
  • “There are so many geopolitical issues that go beyond anyone or a country control that will cause temporary fluctuation in oil prices, including the situation in the Middle East, West Africa and South America. War in the Middle East is sure to cause oil prices to go sky high. I do not expect a war to take place, but it is possible.”