Oil Companies Suffer Drop in Oil Margins, updated July 2006

In October 2004, immediately prior to presidential elections, the relationship between the cost of oil and the price of gas suddenly shifted in a way that resulted in the price of gas being nearly $1.00 less per gallon that it would otherwise have been.

My original October 2004 analysis illustrates the event, and proposes a striking hypothesis.

I have updated the analysis in July 2006, and find the original hypothesis unchallenged.