Not to defend Obama, but I don’t think that is what he said. My interpretation when I heard it was that prices were low because of the economic collapse, which were caused by policies of tax cuts for the rich or loose regulation so conceivably, Romney could lower gas prices by collapsing the economy by bringing back the same policies of tax cuts for the rich and loose regulation. Ridiculous class warfare argument and poor economics, but I did not hear him say that low gas prices caused the collapse.
I can’t believe that for all the times it’s come up, Romney has never offered any kind of alternative explanation as to who caused the economic crisis. Aren’t there plenty of sources he could point to to show how the bankrupt government entities Fannie and Freddie and the liberal policy from the Carter and Clinton era of giving mortgages to people who couldn’t pay them back caused it (Community Investment Act)? Policies that Obama himself fought for in his community organizing days when they harrassed banks to offer such loans.
“but I did not hear him say that low gas prices caused the collapse”
That is what I heard as well. He was saying that low gas prices were the result of the “collapse.” Of course, that is completely absurd...but that is what he was saying.
I was certainly better off then under the low gas prices and “collapse” than I am now!
I agree with you.
However, the Kenyan still doesn't understand economics:
1. Gas prices wouldn't fall significantly until WAY WELL AFTER a recession began, and began to cause a significant fall in demand.
2. Low gas prices actually work as a STIMULUS to the economy, sort of like an unofficial tax cut, and to see the economy tank IN SPITE of already-low gas prices means the economy really, really sucks.
But you're correct - I don't read it that the Kenyan thinks that low gas prices cause economic downturns.
sitetest
Of course denying permits for drilling on our own land and sea don't help to lower gas prices. Giving Canada the finger (id rather get oil from them than russia or saudi arabia, Canada doesn't try to fly our airplanes into our buildings for one) on Keystone XL because some rich enviros that dont worry about their gas prices tell Obama to do so doesnt lower oil prices. I doubt oil futures would remain as high if we permitted drilling everywhere we could. Constantly playing "yes, but" with traditional energy sources in favor of adopting not-yet-realized energy tech nationally doesn't help it either. Also glad for the question about Steven Chu. It reminded people that the president doesn't really care about your gasoline expenses, peons, you should pay a lot so you'll have to er, want to buy a greenmobile (Volt)!
Again, not sticking up for Obama (he's making gas prices worse), but this piece misinterprets his dumb argument. It was easy enough to demolish without doing so. I just did so and I'm not a rocket scientist.