Democrats have again attacked Bush for an "absence of leadership" for "failing to slow" the rapid rise of US gasoline prices, which now are over three dollars per gallon in parts of the country:
In a letter to the president, 15 Democratic members of the US Senate also renewed their call for an "energy summit" to discuss strategies for tackling the rising cost of fuel, and urged his support for proposed anti-price gouging legislation.
Too bad that none of the Democrats has a clue about economics and want to nationalize the oil industry by dictating prices. That will only produce severe shortages and further enlarge the government bureaucracy.
But the Democrats were close. A major part of the current high price of gasoline is directly attributable to Bush’s policy with regard to Iran. His threats have destabilized the oil market and caused jittery people to buy oil at nearly any price. After all, if Bush attacks Iran, oil supplies will drop off dramatically and prices will rise so high that severe economic damage will occur here.
But leave it to the Dems to get it almost right. If they only weren’t doctrinaire socialists by reflex and took Econ 101, then they might be worth listening to just a little bit.
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#1 by Don Bangert on April 18th, 2006
Two things that I’d like to see happen:
1) All tax incentives that were recently given to big oil need to be undone.
2) Oil needs to flow from Iraq, again. Since it was the US who “liberated” that country, I think we should get a “going out of business” price break on Iraqi oil, too. (Never mind that we caused the “going out of business” sale.)
#2 by 655321 on April 18th, 2006
I really think the majority of people do not understand the concept of a commodities market.
When I hear “price-gouging” used to describe the reason why we’re paying $2.50 at the pump, I cringe.
#3 by Mark on April 19th, 2006
I really think the majority of people do not understand the concept of a commodities market.
Amen to that. And most people cannot conceive of a market in services such as education, health insurance, medical care, drinking water, you-name-it. All these are supposed “rights” to be provided by taking other people’s money.
#4 by Difranco on April 19th, 2006
Much of this price jump is due to the environmental laws passed by the feds:
“…Finally, changes in energy laws are prompting fuel suppliers to use corn-based ethanol as an additive to help gas burn more cleanly, instead of the additive MBTE, which has health risks. But ethanol supply problems have raised gas prices.”
Government again messing with the market place prices.