The President showed his lack of understanding once again this week when he admitted that he knew nothing about the price of a gallon of gas. "You're kiddin' I hadn't heard that," was his response to a reporters question about the impending $4 per gallon cost.
But before we jump all over this man just because he is not fit to pump gas let alone set the price we should look at the full picture.
We live in a democracy with a free market that runs on the 'Supply and Demand' premise. If I have something you want then I will raise the price as high as I can without losing your order. And presumably so will you. That's the American way.
So if supplies are limited but demand is high then the price must rise! Keeping the price down would deplete supplies even faster and if the item in question is a commodity that would be bad.
So what's the problem?
Simple, we are falling into the trap of believing our current administration and their friends at Exxon etc. These oil men have been raping American citizens for years and they have no reason to stop now.
Don't believe me, according to James Ritterbusch, (That's Busch) president of Ritterbusch & Associates in Galena, Ill., an oil trading advisory firm, gasoline supplies in the United States are at a 14-year high. He also noted that demand is flat with or even lagging last year's numbers.
So let's get this straight, Demand is down and supply is high. Naturally the price of gas is going through the roof!
Would someone please get me out of Bizarro World? Who is running this place, Mr. Mxyzptlk?
The Dollar is at an all-time low against, well just about every other currency in the world. The dollar will go further down if our interest rates are lowered but our Fed chairman is forced to lower interest rates in order to keep our economy out of the dreaded recession THAT WE ARE ALREADY IN!
There is no easy solution but Washington could help those of us here on the ground by releasing some of the oil reserves and forcing down the inflated price of gasoline. Then they could ask Exxon and the rest to lower their prices and start to levy the proper tax on their obscene profits instead of giving them tax breaks. And then we all board the fairy train to lala land and live happily ever after!
The President is ignorant and that is a fact.
But Congress must help us with some kind of act.
Please do so by lowering the price of our gas.
And tell Bush to pull out his head from his - - - cloud?