A current Republican talking point gives credit for the drop in oil prices to President Bush's decision to lift the White House ban on offshore drilling.
Never mind that the congressional moratorium remains in place, or that it would take years for any Outer Continental Shelf oil to come to market, or that companies are ignoring petroleum under land they already control.
Polling shows that Americans don't like to pay high prices for gasoline, and worried Republican candidates need an issue, particularly one that counteracts the president's drag on the ticket.
And so the idea of crediting the White House for falling oil prices has been seized by Senate hopeful Jim Gilmore, by GOP presidential nominee John McCain, by the party's mainstream media elites like Rush Limbaugh and Sean Hannity.
For this notion to be true, though, President Bush would have to be strong enough to control the price of oil with a single swipe of his mighty pen.
If he has that power, why did he let the price get so high in the first place?
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An even rarer commodity
Common sense and logic do not exist in the mind set of the lockstep marching marxists and socialists that conveniently call themselves "Democrats."
A rare commodity
Good point. Logic is in rare supply in recent times so its value/price is quite high. High enough so that most of us are not able to purchase it. We are so lucky that our present government/administration is so willing to provide it for us so we do not have to think. It would be a shame if we voted in a new administration as we might have to think again. Mindless conservatism is so much easier.
The real reson gas is down
The real reason that the price of gas is down is not that Busch wants to drill offshore, or the Obama want to open the Stratigic Oil Preserve, but Thanks to Rocky Twyman of Washington DC. (Portfolio Weekly, 8/26/2008). He started a prayer group to pray that prices would come down. We all know God answers all prayers.
Thanks for shining a light
On what passes for republican logic nowadays.
Is it any wonder that we're tossing the bums out?
RENR!
I don't think so...
For this notion to be true, though, President Bush would have to be strong enough to control the price of oil with a single swipe of his mighty pen.
Why do you think they're called speculators? Or why it's called a futures market? The price of oil TODAY is impacted by what people believe it will be worth in the FUTURE. Same goes for all types of commodities. But I suspect that you know that.
It's not a stretch to believe that the Bush announcement impacted prices, directly or indirectly.
Do they teach economics in journalism school?
Credit
Why not give credit where credit is due? Prices came, down no thanks to democrats.