Fox News guest Grover Norquist claimed on the air this week that somehow falling gas prices for American motorists are BAD news, claiming that it means Americans simply can’t afford it and there is a glut in the market. This man is allegedly an economist, but clearly not a good one, as he is ignoring every factor that went into the recent decline in gas prices. Farron Cousins explains what actually happened and why it is a GOOD thing for Americans.
Link – https://www.mediamatters.org/fox-news/fox-news-guest-grover-norquist-record-fall-gas-prices-bad-thing
Don’t forget to like, comment, and share! And subscribe to stay connected!
Connect with Farron on Twitter: https://twitter.com/farronbalanced
*This transcript was auto-generated. Please excuse any typos.
Conservative politicians, conservative media outlets. Basically everybody on the right was up in arms all summer long nonstop talking about how horrible gas prices are here in the United States. Sometimes telling us that in some areas of the country, these mystical places, they’d never name gas was up to $8 a gallon. Oh my God. And actually they were really telling us this, you know, since about March of this year, about gas prices, blaming it on president Biden. Like this was totally his fault. He’s doing this somehow ignoring of course, the record profits that the oil companies were pulling in and then something magical happened, right? Gas prices miraculously started falling. So how did the conservative media outlets react to that? Right? Obviously you gotta address it. You talked about it for months and months. So how do you spin it now that they’re falling? Well, the answer is quite simple. If you’re Fox news, you spin it as it’s actually bad that gas prices are falling. So here it is Fox news guest nor Grover Norquist, an economist, allegedly, um, talking about how bad it is that gas prices are falling. Take a look
Picking out here. Maybe this is the end of this sky, high inflation. Are you seeing any signs of that? Because even the Dow Jones industrial average, right now, it’s been up like 500 points today because there’s some optimism out there that maybe inflation is peaking.
Okay. We ask, ask yourself why there are lots of things in inflation. Food is up, rent is up, real wages are down. Um, what did sort of plateau or go down a bit was, uh, the price of gasoline. Why? Because 1.2 million barrels of G oil a day, um, less compared to last year, people are driving less, traveling less. That’s not good news. That’s bad news. People can’t afford to. So they’re doing less of it. And the demand for gasoline is da.
Now the reason I preface that clip by saying Grover Norquist is allegedly an economist is because if he were an economist worth his salt, he would understand that there’s a lot of different factors that go into gas prices, including as he describes the falling demand for it. Now what could be happening in this country, right? This second, that would cause gas demand to go down. Hmm. Real head scratcher. Right? We all know because this literally happens every single year. It’s it’s August, right? It’s pretty much mid-August at this point. Summertime is over. People are going back to school. Summer vacation, summer travel time has ended for most of the country. And because of that, demand for gasoline has gone down. And this, by the way is some kind of magical phenomenon that literally happens every single year. Okay. As I’ve mentioned in the past, I, I, I used to write for the environmental blog to smog blog and every year we’d go through this same crap during the Obama administration gas prices would go up in the summer.
At the beginning, conservatives would blame it on Obama. Then at the end of summer, gas prices would start dropping a little bit because it happens every single year because oil companies can just do it because that’s how they operate. They understand demand is about to go up for summer travel season prices go up, demand, drops prices, go down. If you were actually a real, you know, again, worthwhile economist Grover you’d know that. And you do know that, right? You’re not an idiot. You’re pretending to be an idiot so that you can spend falling gas prices as somehow terrible for Americans. Cuz it means, oh, they’re running outta money. Inflation is going down. Not nearly enough, but it is going down. Gas prices are going down again. Not nearly enough, but still going down. And Fox news is always gonna find a way to spend that as a bad thing for Americans, because it was good for them when prices were high. So they could blame Biden. Now that prices are coming down, unemployment’s going down. They got nothing left and we’re three months out from the midterms and they’re terrified that things could actually get better for the American public before they head to vote. Cuz that’s not gonna end well for the Republicans now, is it.