Wednesday, November 19, 2008

Credit Where It's Due

From a letter to the editor in the Dallas Morning News today:

Recently, I filled my tank at $1.91 a gallon.
It's interesting that prices have plummeted just when the pro-oil George W. Bush-Dick Cheney administration is exiting, car sales are in the dump, the government is reassessing the automotive industry and a new Democratic administration has promised a renewed effort to develop alternative fuels. Quite a coincidence, don't you think?


Got that? In June the price of gas in our area was $4.20/gallon. Now it's about $1.95. It's been falling for six months in concert with the price of crude oil which has dropped from $147/bbl to about $55.

Is that because of supply and demand? You know, that ol' Adam Smith thing where people use less and supply is too high so the prices respond.

No, according to that twit it is the mere anticipation that the Messiah will do something. When the prices started downward, there was no economic crisis and Obama had just barely gained his party nomination. The probability of his election was a coin toss. Now, just two weeks after election and a full two months before he is able to make one presidential decision he gets full credit.

I despair for the future of the republic. With this level of ignorance it can't be long before the barbarians storm the deteriorating gates.

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