Apr 30, 2012 at 9:53 am
I accuse TV news of asymmetry!
When gas prices were rising in March, I couldn’t turn around without being asked to explain why we shouldn’t blame the President for higher gas prices (answers: a) oil is a global commodity with prices set on world markets, b) unlike OPEC, we don’t control enough supply to make a difference, c) administration has actually presided over period of aggressive fossil fuel energy extraction).
But this month, with prices falling, I’ve yet to get one request to explain why the president should get credit for falling gas prices (answer: he shouldn’t). Of course, this trend could easily reverse, especially as the summer driving season approaches, though one reason for the decline is consumers’ responses to the higher prices: driving less and shifting to higher mileage vehicles.
I know…it’s shocking to see such asymmetry but there it is.
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