Wednesday, May 03, 2006

Bush's threats to Iran drive gas prices up

While you're standing there at the pump, filling your Lincoln Navigator (weight: 5,800 lbs; 28 gallons to fill the tank; MPG: 13/18), and watching the numbers whizzing ever upwards in the little LCD screen, ponder this: every time Bush opens his yap to threaten Iran over their perfectly legal desire to play with radioactive materials to generate electricity (so they claim), the price of your gasoline GOES UP.

Yes, indeed, as the price of crude hits 74 bucks, remember the old rule of supply and demand: the less the supply, the higher the price.

So, as the Shrub's threats to bomb Iran climb in stridency, Wall Street and other futures traders in oil respond by assuming that the Decider means what he says, that the US will bomb Iran, and that will end oil suppy from that benighted place, and, presto, no more supply and thus higher oil prices.

If you want lower gas prices, tell the Shrub to keep his big mouth shut.

No comments: