Posted on 09/05/2006 12:21:04 PM PDT by freemarket_kenshepherd
Maybe it could be called “The Conspiracy Hour with Jack Cafferty.” On the September 2 “In the Money,” the program’s host recycled his theory that gas prices are dropping because of scheming oil companies.
“You know, if you were a real cynic, you could also wonder if the oil companies might not be pulling the price of gas down to help the Republicans get re-elected in the midterm elections a couple of months away,” Cafferty suggested just a few days earlier on the August 30 “Situation Room.”
“In the Money” contributor Jennifer Westhoven reminded Cafferty of his August 30 comments and suggested he rehash his “cynicism about the election” for the “In the Money” audience.
“Certainly the thought had crossed my mind. I mean, the oil companies have a vested interest in seeing that the Republicans remain in control of the federal government,” Cafferty answered Westhoven, before adding facetiously, “They wouldn't pull prices down before the mid-terms now, would they?” he added over laughter from his fellow panelists.
Later on, Cafferty returned to actual supply and demand considerations driving the price, which prompted contributor and Fortune magazine editor Andy Serwer to offer a gloomy prediction. Suggesting the price drop was only a “blip,” Serwer warned that political crises stemming from Iran, Venezuela, or Nigeria “could erupt or turn bad or anything at any point” or that the hurricane season might take a turn for the worse.
At no point in their look at gas prices did the “In the Money” crew seek the opinion of oil analysts, although Serwer confidently pointed to “the folks at the Chrysler Corporation” who “seem to be suggesting” gas prices will “stay up for a while.” Serwer also scoffed at others who “think they’re going back to $2,” adding, “I’m not one of them.”
While the “American Morning” business contributor didn’t name names on the $2 prediction, he appears to be misquoting oil experts.
“We'll be closer to $2 than $3 come Thanksgiving,” reporter James Healey quoted the Oil Price Information Service’s (OPIS) Fred Rozell in the August 30 paper. That would suggest gas price averaging below $2.50, not necessarily at or near the $2-a-gallon mark.
A September 5 article by Associated Press reporter Brad Foss similarly noted that “most analysts” believe achieving $2-a-gallon prices “is unlikely and would entail a major slowdown in the economy, if not a downright recession” but that it’s more likely “that retail gasoline prices will slide to about $2.50 a gallon by winter – and then head higher again early next year.” The average per gallon price for gasoline has dropped 30 cents in the past month, to $2.73.
The Business & Media Institute has varying coverage of price drops by other media outlets. On the August 31 “Early Show,” CBS’s Harry Smith remarked that the media months ago were “screaming with our hair on fire” about then-rising gas prices while a day earlier, NBC’s Kevin Tibbles shrugged off the downward trend, focusing his August 30 report on Chrysler’s “wake-up” call from CEO Tom LaSorda who is planning for gas prices in the “$3-to$4-a-gallon” range.
Does he mean unlike how Clinton released oil from the strategic petroleum reserve in 2000 just before the election while Gore was blaming Big Oil?
As I recall, the contracts for that oil went to African-American companies that weren't qualified (one had to rescind the contract), and most of the oil ended up exported to Europe where prices were higher.
-PJ
Rush stated today that this find could top 50% of our oil usage. IF IT PANS OUT, that means "screw" the ragheads!!!!!
LLS
This is not the first tiem I ahve heard this kook theory.
Yesterday, I filled up at $2.94 in northern ID.
It definitely makes a big difference per fill up. $Trillions have been extracted out of our A$$es by the speculators.
$2.58 retail here.. still $1 per gallon minimal of speculative greed in there.
Speaking of conspiracies, if it wasn't for gas Jack wouldn't have driven the car that hit the bike....
Gas prices, barring any real emergency, should be about $2.25 per gal soon.
I'm not watching them.
Gas prices $3.10 a gallon GOP loses 25
$3.00 a gallon GOP loses 20
$2.75 a gallon GOP loses 15
$2.50 a gallon GOP loses 10
$2.25 a gallon GOP loses 5
$2.10 a gallon is a psychological relief point and GOP will actually gain 5
Based on national average.
Jack Cafferty and Don Imus stranded on a desert island together.
:)
$2.55 in the York (PA) area.
A "slow, slightly dimwitted" GOP President can successfully micromanage the world economy, while a "once-in-a-lifetime, exceptionally well-educated, Rhodes scholar" of a Dimocrat can't successfully define the word "is".....
Hmmmmmmm....which party do I want to have controlling the government?
I think he's got it all in a point-and-click interface on his laptop, through a browser, kind of like "My Yahoo."
A certain Republican state senator said to a small group of us that gas was going back to 3 bucks on November 8th and I was to agog to tell him not to even joke about that.
There may be more bad news for the medai libs in the future:
http://biz.yahoo.com/ap/060905/major_oil_discovery.html?.v=16
Start your engines!
Can't these a-h##$%s ever take good news and just run with it?
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