To: National Desk, Political Editor

Contact: Bob Weiner, Richard Bangs or Rebecca VanderLinde, 301-283-0821 or 202-329-1700

WASHINGTON, Nov. 2 /U.S. Newswire/ -- Gas prices that have plummeted 80 cents in the past three months are helping the economy, but the cost could shoot right back up when the Saudis lower production after the election, warns Robert Weiner, a former senior public affairs director in the Clinton White House, former spokesman for the U.S. House Government Operations Committee, and now president of a Washington issue strategies group.

Weiner along with Richard Bangs, a Senior Policy Analyst at Robert Weiner Associates, point out that Bob Woodward has reported that Prince Bandar bin Sultan, Saudi Arabia's ambassador to the United States, told President Bush two years ago, "The Saudis would cut oil prices to ensure a strong economy for election day." Weiner and Bangs believe, "this prediction has come to fruition."

They contend, "U.S. oil company executives also possess the power to allow the price drops we've seen that may be timed for the election. They have enough room to play-including last year's collective $100 billion in record profits and Exxon Mobil's own near record $10.6 billion profits this past quarter."

Weiner and Bangs assert, "Oil industry executives are particularly afraid of Congressman Charles Rangel chairing the Ways and Means Committee. Rangel could ask: Why do oil companies that generate record profits from American consumers receive $7.2 billion in government subsidies? Why was U.S. Rep. Tom DeLay, R- Texas, then Republican House Leader, allowed to hold open a five-minute floor vote for 48 minutes until some 2.6 billion dollars in tax breaks for the major oil companies were approved by two votes? Just this week we learned of the Administration's refusal to pursue hundreds of millions in fees for offshore drilling -- why?"

Weiner and Bangs claim, "These policies defy basic logic until we look at $32,000,000 in oil representatives' contributions to Republican congressional and presidential campaigns and the Republican Party during the 2004 and 2006 elections -- compared to $7 million to Democrats."

Weiner and Bangs conclude, "America could again be frustrated when the Saudis and oil executives close the spigot after the upcoming elections, and maybe then we'll want to know why the gas prices arbitrarily fluctuate."

Weiner and Bangs wrote an op-ed in today's Seattle Post Intelligencer, "Election, Economy, and the Price of Gas".

Source: Robert Weiner Associates, 301-283-0821

http://www.usnewswire.com/

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/© 2006 U.S. Newswire 202-347-2770/

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