August 27th, 2008
12:10 PM ET
12 years ago

Carter: Oil prices will fall as election gets closer

[cnn-photo-caption image= caption=" Jimmy Carter, a superdelegate, has endorsed Obama ."]
(CNN) - Is there a connection between big oil and Republican politicians?

Former President Jimmy Carter certainly thinks so. In an interview with CBS’s Harry Smith, the former president said the November election is to thank for lower oil prices.

“Between now and November, I predict that the oil companies will hold out on oil prices a little bit,” Carter said with a laugh, “you know, to try to get the Republicans the ticket.”

In July, after the Senate voted to crack down on oil speculators, Republicans vowed to block any further measures until the Senate came to a vote on energy-related issues—in particular, the GOP push to increase oil production.

With the economic outlook dim, and prices at the pump still high, Carter said Wednesday the economy will be the deciding factor for voters come November - just as it was during Bill Clinton’s first campaign for president.

“I’m afraid that by the time January comes along the economy will be the most serious problem in America,” Carter said.

Accusing John McCain of being in the pocket of big oil has been a consistent line of attack from Democrats in the past few months. along with the Obama campaign, have released ads spotlighting what they call the Arizona senator’s “ties” to oil executives.

Filed under: Jimmy Carter
soundoff (106 Responses)
  1. Katrina

    CNN: "Accusing John McCain of being in the pocket of big oil has been a consistent line of attack from Democrats in the past few months." Lol. Let's rephrase that: "The fact that the Republicans are in the pocket of big oil has provided the Democrats with good ammunition." Remind us, where's GWB's money from? With whom did Cheney hold closed meetings, the notes on which he refused to make public? How much money did the Oil companies give McCain after he promised to "drill here drill now"? Did you hear Schweitzer? "We can't drill our way out of this mess even if we drill in all of McCain's backyards, including the ones he doesn't remember he has."

    Really, you guys are getting FOXier by the day.... painful to watch and read.

    August 27, 2008 05:10 pm at 5:10 pm |
  2. Independent

    ummm in case no one has notices oil prices have been dropping for the last month...thhey are down by over 20%.

    Ever since the administration changed their minds on offshore drilling. THats the psychological effect that you all keep making fun of..and chiding. Well guess what its how the markets work... learn it... and stop complaining.

    If Obama gets elected the psychological effect will result in higher prices because he is against foreign oil independence... If Mccain wins prices will continue going down because he for foreign oil independence

    August 27, 2008 05:12 pm at 5:12 pm |
  3. Debbie

    Mike from TX.

    It was Nixon who was President during the gas shortage of 1973. I know, I was not allowed to purchase gas on even days.

    August 27, 2008 05:13 pm at 5:13 pm |
  4. Noemi in Los Angeles

    In L.A. gas prices have begun to drop a few cents. Last month they were over $4.02 a gallon. This month, they're at $3.98... which is dramatic considering that we have not seen a drop in months! Now I know what's behind the gas price drops... Big Oil trying to keep GOP in the White House.

    August 27, 2008 05:14 pm at 5:14 pm |
  5. New Yorker

    I CAN NOT BELIEVE CARTER HAS THE NERVE TO TALK ABOUT OIL PRICES !!! I remember waiting in line to get gas when he was in office, not to mention the myriad of other problems this country had and still suffers from as a result of his poor policies. Good grief. I'm glad he's doing something useful now, redeemng himself.

    August 27, 2008 05:17 pm at 5:17 pm |
  6. pthrill

    So all you Obama supporters...if he gets elected and the price of all stays the same or even goes higher, what is going to be the explanation for that???? You'll have a democratic congress and president. I would love to learn more about that.....please enlighten me.

    August 27, 2008 05:19 pm at 5:19 pm |
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