February 22, 2012 by David K. Sutton
Grist: Nobody Can Deliver Cheaper Gas Unless Economy Tanks
With appropriate snark, Grist’s Christopher Mims explains why nobody can deliver cheaper gas. That is, unless the economy tanks.
“Unless the world economy crashes or intercessory prayer starts working, no one on the planet has the power to significantly lower the price of gasoline at the pump. Especially not Newt Gingrich.”
People are either stupid, ignorant, or both if they believe the President of the United States has unlimited power. Gas prices, while affected by speculation, are primarily driven by supply and demand.
Republicans are disingenuous when they point to the price of gas now (well above $3, on its way to $4) compared to when Obama took office (below $2). The economy is much improved now compared to 3 years ago, when we were in the middle of a deep recession. Republicans conveniently forget where gas prices were (higher than now) in the summer of 2008. Who was president then?
Republicans rely on ignorance to get away with this nonsense.
photo by Lane Pearman via Flickr