Does the President of the United States have any control over oil prices?

I have heard that the President, no matter who it is, has no control over oil price and that it is a supply and demand issue. Is this true?Does the President of the United States have any control over oil prices?
Total Cost of Tax Break: $76.5 billion from 2005-2014





In this provision, America鈥檚 largest energy companies鈥攁mong the most profitable in the U.S. economy鈥攚ould succeed in reclassifying energy production as a manufactured good in order to qualify for potentially tens of billions of dollars in new tax deductions. The manufacturing tax deduction has previously only been available to traditional manufacturing industries. The amount of the tax deduction is 3% of a company鈥檚 production income in 2005 and 2006; rising to 6% in 2007-2009, and 9% after 2009.





The total cost of this tax deduction, $76.5 billion from 2005-2014, includes the value of the tax deduction for energy companies and other industries, including movie studios, real estate developers and engineering and architectural services associated with real estate development. It is a safe assumption that energy companies鈥攄ue to their size within the U.S. economy鈥攚ill be the largest recipient.





Since 2001, electric power, natural gas and oil corporations have contributed $73 million to federal candidates, with three-quarters of that total going to Republicans. Halliburton is the largest oil field services provider and provides services to Chevron. Bush Sr. was a director of Halliburton. Dick Cheney was Halliburton's CEO. Chevron is the #1 importer of Iraqi oil. Members of the Bush administration planned to oust Saddam and establish control in Iraq since long before the Iraq war. Bush started a war in Iraq. War brings profit to defense contractors. Bush Sr is a director of one of the world's largest defense contractors. See the circle of greed and profit? These facts show there is a serious conflict of interest with the relationships between the Bush family, the Bush Administration, ChevronTexaco, Halliburton, the Carlyle Group and members of PNAC. The Bush family and friends have been profiting from war and will continue to profit greatly through continued services contracts in Iraq and the controlled flow of Iraqi oil.Does the President of the United States have any control over oil prices?
He doesn't have any control over the price of oil
Sure the Bush family sells oil.





As a matter of fact I saw George at one of the family stations on a ladder changing prices this morning.





I can assure you there in not a politician in DC who does not have some interest in the oil industry, or food , health care, utilities, transportation, etc, etc,etc.
i think he has indirect control such as the power to bargain with a foreign country
So Does the Vise President ,Haliburton ties money talks in forms of OIL and ENERY. Enron comes to mind , You figure.
That is true for the most part. The president can not directly control gas prices. In the long term a president maybe able to exert a minimal amount of influence by pressuring congress to enact tarriffs against oil imports, but that is a rare occurance and takes years to accomplish.





Gas prices are higher than they normally are in the U.S. but if you compare prices internationally, the price we pay is very low. In Europe and the UK it is not unusual to pay the equivilent of $5.00-6.00 per gallon.





As a result of this Americans drive a lot more than their European counterparts. So yes, it is a supply and demand issue.
I dont know who controls the oil prices, but I do know that the president and congress can lessen the prices of oil.
Well Indirectly when he umm I dont know. INVADES THE COUNTRIES THAT PROUCE IT!!! Let me ask you a question. What happend to the price of oil when bush invaded iraq?
Well, the government can of course put restrictions on oil... most people wouldn't like it to come to that... but the market is WAY unstable... with 10-20+ percent swings per week...


it's not a healthy market... and if a company is making record all-time profit... it's also a sign that capitolism isn't working... if there is true compeition, profits should be relativley minimal, not billions and billions PER QUARTER!....


Clearly the oil companies are extorting capitolism... thriving on fears of storms and the middle east...
yea
He has influence, certainly, although the current president is so closely tied to the industry he's not likely to try to hold prices down. However, he contols the Stategic Petroleum Reserve, and can release oil from that at low prices. In a clear emergency, he might also be able to issue an executive order setting price controls or even taking over the oil industry (Truman did this with the coal industry during the Korean War). He always has the option of asking Congress to pass laws regulating the oil industry and controlling prices. But, think of this: We waste so much gasoline! Maybe prices should be higher to force us to use it more wisely.
The presidents family sells oil. Hmmmmmmmmm