Here’s another conservative free market think tank know-it-all whose gift of gab is his only apparent qualification on the subject of the auto manufacturing. Steve Milloy, from the Free Enterprise Action Fund, just a few months ago blamed the “unions and their environmentalist buddies” who “forced the gas prices up..”
Really, the unions and environmentalists ran up the price at the pump to over $4? That’s funny, because Congress is dealing with that very problem now, and they somehow missed that important detail. Crazy them, they’re blaming the price gouging on something else…
WSJ: Lawmakers, petroleum marketers and heavy energy users implored federal regulators to tame wild swings in oil and gas prices by reining in excessive speculation on commodity markets. Critics in Congress and industry have blamed last year’s surge in crude oil prices on frenzied trading by financial firms and index funds trying to profit from price changes, without any interest in producing or using the physical commodity at stake … rein in the ability of traders to influence prices … because in-and-out activity can distort the underlying or "physical" gas price.It wasn’t just speculators either:
Bloomberg.com: An FTC rule for Novenber 4th sets definitions for conduct that could manipulate wholesale petroleum markets. It targets false public announcements about planned pricing or output decisions, or false statistical or data reporting ... practices such as keeping tankers offshore and crimping U.S. supply, or closing refineries for maintenance at a time that coincides with high price or demand, or exporting at a low price just to manipulate U.S. stores of oil will get a closer look. Senator Maria Cantwell said, “Oil supplies are near 20-year highs and demand for oil is at a 10-year low -- so why have gasoline prices gone up a dollar a gallon since the beginning of the year?”Isn’t it amazing much of that went unreported until now? Oh, it turns out it wasn’t those union workers and environmentalists after all who raised the price of gas at the pump. But Milloy took his shots and won the moment a few months ago.
One more thing, Milloy advocates going back to gas guzzling SUV’s again, while bringing the wage scale down to a competitive level with the likes of Mexico, or maybe even China. Now that will get the middle class economic engine going again.
Would you trust someone from the Free Enterprise Action Fund? Looking back on this idiot, Steve Milloy, it appears he doesn’t have a clue. And on that he has a strong unshakable ideological conviction.
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