Low prices at pump imperil stump speeches

WASHINGTON, Nov. 3 (UPI) -- Declining gasoline prices have taken some of the punch out of the political stump speech that revolves around U.S. oil independence, observers said.

"Falling gas prices takes a lot of starch out of the political rhetoric," energy journalist Robert Bryce told the Christian Science Monitor Monday.

The rising prices of gasoline, which topped $4 a gallon last summer, had a variety of props, Jorge Pinon, at the Center for Hemispheric Policy at the University of Miami said.

Pinon said the expectation of rising demand added $20 to the price of crude oil, which hit a record $147.27 per barrel on July 11.

Speculating investors added another $21 per barrel. The sliding of the dollar against other currencies added another $17, Pinon said.

Political candidates are now adapting their message to voters. Vice presidential candidate Sarah Palin has warned voters not to be deterred from the goal of energy independence, the newspaper said.

With prices low, "will GM delay the Volt again? Will Nissan delay its electric car? Will Chrysler delay an electric car?" Bryce asked.

"The arbitrage between gas and electricity isn't necessarily as important with gas at $2 as it is at $4," he said.