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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWSJ And Cato Agree: Romney Gas Price Promises Would Just Increase Big Oil Profits
WSJ And Cato Agree: Romney Gas Price Promises Would Just Increase Big Oil Profits
By Rebecca Leber
On a campaign trail rife with inaccurate gas price promises, Mitt Romney fought the idea that speculation and heated rhetoric on Iran is boosting gas prices. Romney instead argued high gas prices are related to insufficient drilling offshore, drilling in the Arctic National Wildlife Refuge, and the Keystone XL pipeline, saying those things affect gasoline prices, long term:
Romney brushed off speculations role in the gas price spike, but McClatchy writes that oil prices have been skyrocketing thanks again in no small part to rampant financial speculation on top of fears of supply disruptions When they dominate the market, as they do, speculators bids can make their prophecies self-fulfilling.
The Republican solution to drill more would mean more profit for domestic crude producers rather than significantly lower gasoline prices for Americans, according to the Koch-funded Cato Institute. The Wall Street Journal also wrote, producing a lot of oil doesnt lower the price of gasoline in your country.
- more -
http://thinkprogress.org/green/2012/03/14/444075/wsj-and-cato-agree-romney-gas-price-promises-would-just-increase-big-oil-profits/
By Rebecca Leber
On a campaign trail rife with inaccurate gas price promises, Mitt Romney fought the idea that speculation and heated rhetoric on Iran is boosting gas prices. Romney instead argued high gas prices are related to insufficient drilling offshore, drilling in the Arctic National Wildlife Refuge, and the Keystone XL pipeline, saying those things affect gasoline prices, long term:
Maybe its related to the fact that you stopped drilling in the, in the Gulf. Maybe its related to the fact, Mr. President, that you are not drilling in ANWR. Maybe its related to the fact that you said we couldnt get a pipeline in from Canada known as Keystone. Those things affect gasoline prices, long term.
Romney brushed off speculations role in the gas price spike, but McClatchy writes that oil prices have been skyrocketing thanks again in no small part to rampant financial speculation on top of fears of supply disruptions When they dominate the market, as they do, speculators bids can make their prophecies self-fulfilling.
The Republican solution to drill more would mean more profit for domestic crude producers rather than significantly lower gasoline prices for Americans, according to the Koch-funded Cato Institute. The Wall Street Journal also wrote, producing a lot of oil doesnt lower the price of gasoline in your country.
- more -
http://thinkprogress.org/green/2012/03/14/444075/wsj-and-cato-agree-romney-gas-price-promises-would-just-increase-big-oil-profits/
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WSJ And Cato Agree: Romney Gas Price Promises Would Just Increase Big Oil Profits (Original Post)
ProSense
Mar 2012
OP
Too bad so many Americans don't understand that drilling does nothing for
sinkingfeeling
Mar 2012
#3
EC
(12,287 posts)1. What is with Cato recently
This is the second or third time they have disagreed with campaign retoric from repubs that they are supposed to be backing. Maybe they don't like them and want Obama to win this time around?
it has something to do with this: http://www.democraticunderground.com/1002390377
Wow even the think tanks don't like being taken over by Koch...
sinkingfeeling
(51,457 posts)3. Too bad so many Americans don't understand that drilling does nothing for
the cost of gasoline if the crude is shipped else where.
Scurrilous
(38,687 posts)4. K & R