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Show Sat/Sun/Mon/Tues, November 4-7, 2006 The Park Record A-26 TFAM SCHLOPY LISTING OF T H E WEEK Incredible Views Gas price fluctuations suspicious By STEVE RAABE Enjoy panoramic views of Deer Volley umi Kirk Cily slopes, the Jortkincllc Reservoir and beyond from each window of Iliis thoughtfully designed opon home in Dcvr Mountain Estates. Mountain vistas surround you on the 2.9? acres. Custom built in 2004 this 3485 sq. fi. Iwme will surprise you wiih olt of il's unique appainlmenls ami built-in's. With a muin floor master suite and office, this .1 bedroom home (wilh optional 4th) Im .1.5 baths and a ski prep/mud room you will ;idon\ 1 he poumw.1 kilchen features stainless steel appliances, granite countcrtops, hardvvotnl floor.. Alder cabinetry, center island with prep sink, cat in area, large walk in panlry and si walk out deck (perfect for barbecuing). Relax in either of two great rooms with stone fireplace MediaNews Group Wire Service Gasoline prices are down 83 cents a gallon from their record high in August. Coincidence or conspiracy? Economists and financial analysts scoff at the notion that anybody has the power to manipulate the complex petroleum industry. Falling gas prices, they say, are a consequence of market factors: lower crude oil costs, a seasonal decline in demand and speculators bailing out of petroleum investments. Oil futures on the New York Mercantile Exchange closed FOB Team Schlopy Thursday at $57.88 a barrel, down sharply from the record high of $78.40 on July 14. Colorado gasoline has fallen as well, from a record of $3.08 a gallon in August to Thursday's average of $2.25. While 53 percent of the American public don't subscribe to the conspiracy theory, 42 percent say they believe that the Bush administration has helped jigger fuel prices to benefit Republican candidates, according to a September USA Today/Gallup poll. "This market is driven by fundamentals," said Jason Schenker, an energy economist with Charlotte, N.C.-based Wachovia Corp. "I'm COLDUJeU. "Without Bob, we may not be able to protect our quality of life. He's been the'go-to'guy. A vote for Bob is a vote for ourselves. " KFSJDFNT1AJ. BROKFA\CF. - BRAD OLCH - Toll Free: 800-825-8889 cxt 4344 Mobilo 435-640-5660 BTtttM uhtopj. to tn Show You Care! Vote! Offered by Team Schlopy 435-640-5660 PAJO Fffi BY Ul£ TW FOR BOB' CfiMPKGH C0UUST7IE • t3St47-6O6C s Save 200 fc • \f,' U MM- T.ii 888.427.7368 • • "Best Savings for the upcoming Season" TEMPSTAT • 12/mo. Financing O.A.C. • Credits/Rebate discounts I\y>E THE WILD WEST WE ONLY RENT NEWER EQUIPMENT! DAILY RENTALS AS UDW-AS: NEW HARTMAN HEATING AND AIR CONDITIONING Commercial • Residential FISHING BOAT $129 L_y Serving the J W o f your home and business Park City: 615-1857 A U RENTALS INCLUDE THE TRAILER! •Prices may vary. Offer based on spedflc requirements. Call for details. very loathe to buy into these (conspiracy) arguments. To think that the Republican Party can influence gas prices is giving it far more power than it deserves." But such a notion wouldn't surprise Denver investment manager Peter Forbes, recently filling the tank on his black Lexus SUV with $2.14 regular. "Is big oil being manipulated by big government?" Forbes mused. "I wouldn't doubt it at all. It's tough to prove, but the timing sure is convenient." Gasoline prices have fallen before federal elections almost every year since 1990, which energy analysts attribute to falling demand after the summer driving season. Most of the declines have been 10 cents a gallon or less, from summer highs to weeks following the elections. But this year's drop from June to the week before the election has been a comparatively steep 58 cents. Analysts say the larger decline is because oil prices spiked to record highs earlier this year on fears of geopolitical supply disruptions and the lingering hangover from last year's hurricane-related supply disruptions. The price trend is not as consistent in non-election years. Since 1991, prices in June-throughNovember periods that don't precede elections have gone down five times and risen three times. • The widely-discussed conspiracy theory, a staple in blogs and talk radio, holds that oil companies and their Republican allies in government are gaming the market to bring prices down and make voters more inclined to keep Republicans in control of Congress. Falling fuel prices already are credited with helping President Bush's approval ratings on his handling of the economy. In a Wall Street Journal/NBC News poll this week. 46 percent of voters approved .of his economic stewardship, up from 39 percent in June. "Yeah, I think it's probably due to the election coming up," said Denver probation officer Jerald Mason, filling up recently at a 7Eleven. "After the election, if the Republicans stay in office, then the prices will come back up." While the conspiracy theory has several variations, it mostly centers around these allegations: •The Saudi Arabian government, a longtime friend of the Bush family, is keeping oil production high to force prices down and bolster the U.S. economy. Non-conspiracy response: The Saudis no longer have enough spare production capacity to significantlyboost oil output and affect prices. To the extent they can, it's to smooth out volatility in world oil pricing, not to help U.S. Republicans. •American oil refiners have lowered their profit margins, one of the key factors that determine retail gasoline prices. Margins are down from 45 to 50 cents a gallon this past summer to about 7 cents this week. The nation's top five oil companies - Exxon Mobil, BP, Royal Dutch Shell, Chevron and Conoco Phillips - own 42 percent of U.S. refining. Non-conspiracy response: Refining margins on gasoline are seasonal and almost always go down in the fall as demand for gasoline drops. •The Bush administration is secretly selling oil from the Strategic Petroleum Reserve, glutting the market and pushing prices down. Non-conspiracy response: According to the Energy Department, there have been no additions or withdrawals to the reserve from May to September. •Newly appointed Treasury Secretary Henry Paulson Jr. has leaned on his former partners at Goldman Sachs to sell gasoline futures, a move that would lower prices. Goldman Sachs operates a commodities index widely followed by energy traders. Non-conspiracy response: Paulson said he cut all ties to Goldman Sachs when he was named to the Treasury. The allegations produce a mixture of smirks and indignation from non-conspiracy theorists. One of them is Lori Weigel, a Denver-based partner in Public Opinion Strategies, a Republican national polling firm. "I find the premise of the (conspiracy) question insulting, as a Republican," Weigel said. "It's rather ridiculous that Republicans would be manipulating gas prices or that we would even have the power to do so. If they did, I don't see why in the hell they would have let it get to $3 (a gallon) in the first place." Simple supply and demand fundamentals and seasonal variations explain why gasoline prices have dropped, said Steve Douglas, Greenwood Village, Colo.-based general manager of supply and marketing for refiner Suncor Enerey USA. "It's free market economics," he said. "If elections were held in June, people would likely notice that prices tended to go up just before an election.11 Buy a "Park City" House at a Heber Price m 7,000 sq ft $1,725,000 PCMLS 9962840 IlEBER Open House Saturday - November 4 12:00-3:00 p.m. CRE 3301E. Stoney Creek Circle From Main St. in Heber go 3 miles East on Center St. (Lake Creek Rd.) Country living at its best with spectacular views and planned amenities including a full service clubhouse, parks, fishing pond, trails and open space. 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