This is one of these priceless items to clip ‘n save when you’re having a bad day and need a good laugh. Thank God for CNN journalist/commentator/pundit wannabe Jack Cafferty.
Proving once again why CNN still is in second place in the ratings comes this item from Cafferty:
“You could also wonder if the oil companies might not be pulling the price of gas down to help Republicans get re-elected in the midterm elections a couple of months away.”
I’m speechless. I don’t know where to even begin. Note to Jack: The recent drop in gas prices has nothing to do with the upcoming elections and everything to do with the fact that angst over a possible severe hurricane season (which has yet to happen) resulted in greater supplies of gasoline being refined, which are now coming to market without the anticipated disruption in supply.
This article from the Miami Herald quotes the American Petroleum Institute’s Rayola Dougher who notes:
“Fundamentally, prices are lower because we’re at the end of the summer season…demand has been coming down, supply has been plentiful. We’ll have to see how low crude will go.”
I don’t know about you but I’m putting my money on the API’s explanation rather than Cafferty’s. Looks like that ol’ supply and demand law is still true.
Making this mistake once is bad enough. But for Jack, his conspiracy theories appear to be a running theme. He first mentioned it on an August 30th edition of The Situation Room and again on September 2nd on CNN’s In the Money.
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