D.J. McGuire over at The Right Wing Liberal has an excellent post up entitled, “Mark Warner is economically illiterate, and dangerous.” In it D.J. points to Marky Mark’s own words that prove to anyone who can understand basic English that the supposed economic wunderkind doesn’t really have a clue.
Here is what Marky Mark said that one should key in on:
Actually, driving demand in the United States and consumption have fallen and we’ve seen record increases in the price of gas.
And here is D.J.’s response:
In other words, Warner really doesn’t understand how international markets work. He thinks the United States can just close itself off from the rest of the world.
Precisely. Supply and demand of oil is international and that is what drives the price of it. One does not even have to take Econ 101 to understand such a basic concept. Does Marky Mark not read the newspaper and see that demand for oil has rapidly increased in China and India, the two most populous nations on the planet? If not, then this man should not be anywhere near the U.S. Senate. Read the entire post here.
Filed under: 2008 Elections, Economics, Energy, Marky Mark, Morons, Virginia Politics
McGuire makes a decent point. Unfortunately, no one cares. Jim Gilmore is a dead man walking. Why didn’t you guys even try to win this one?
The entire quote is:
Warner, however, said that approach would take years to yield new fuel and would only reduce prices by a few cents per gallon by 2018. Quicker relief, he said, would result from federal action against speculators who have made billions by inflating crude oil prices on overseas markets, from aggressively using U.S. trade leverage to pressure oil cartel nations to increase production, and from “enforcement action” against nations and corporations that collude to drive up oil prices.
“Make no mistake about it: what has happened over the past few months has not been the result of the market. Actually driving demand in the United States and consumption has fallen and we’ve seen record increases in the price of gas,” Warner told a group of technology investors Wednesday morning.
More than one-third of the $135 price of a barrel of crude oil _ more than $1 of the cost of a gallon of gasoline–was the result of predatory commodities speculators, he said.
Note that Warner began the comment discussing FOREIGN markets; note the next comment state that while US demand is down, prices are UP. Thus, outside factors MUST be present for such a situation to exist.
Does it take stretching the truth and distortion to attempt to make Gimore look palateable?
Honestly, Context, nothing makes Gilmore palatable. That’s why he barely musters one-third of the vote, despite eight years in statewide office.