Mac isn't Learning very fast
by
bordhead
07/23/2008, 4:25 PM
Mac came out today and is attributing the recent $10 drop in oil to Dubya. "The psychological effect of lifting the executive ban on offshore drilling", he says. That statement is even more absurd than trying to blame BO for the rise of oil the other day. Is he just having a really senior moment, or is he smoking crack? On one hand the Bush Administration says that the sharp increase of oil is based on the fundamentals of supply and demand, and not oil speculators, and now Mac says it's affected by Dubya’s symbolic gesture. Give me strength. Isn't it a little early in the campaign for Mac to grasp for straws? He certainly isn't helping out his credibility or demonstrating his grasp of the economy at all. The price of oil is simply beginning to correct somewhat from the futures speculators and of course the fundamentals of supply and demand. The shock of $4+ gas has caused a slowdown in demand in the U.S. Put this together with China shutting down factories for the Olympics and you have a back off of wildly spiraling oil prices. Bush my ass. Mac, if you keep making statements like that you'll wind up like Bob Dole