It's from the '86 Man of Steel series. And his infatuation with her ran through a lot of the post-Crisis books. To the point where Cornell's Black Ring had him create a Lois sex-bot as a companion. And in Action Comics 1003, the Mayor references Lois and Luthor having "shacked up again" in reference to their meeting in Action Comics 1003.
Lex always tries to pass himself off as a man of the people and benevolent rich guy, so I don't see it necessarily being about power. I could see Lois dating him briefly and seeing through his facade pretty easily. Which was kind of the impression Man of Steel gives.