5 myths about gas prices, Big Oil, and the presidency

When it comes to presidential elections, gas prices aren't as important as you think. Sure, they're a relevant data point, but a study by Yale economist Ray Fair shows that dating back to 1948, there is little correlation between election results and your pain in the gas.

Take 1992. Gas prices were at their lowest levels in decades. The economy was pulling out of a recession. And the president had just won a war in convincing fashion. What happened next? Voters gave President George H.W. Bush the boot.