Illinois Senator Dick Durbin has decided that he can repeal the law of supply and demand. This is not at all surprising since he has already decided that he knows more about right and wrong than GOD does. He has demonstrated that he believes the murder of unborn babies should be allowed by the government through Supreme Court edict. Now, he thinks he is capable of defining and controlling supply and demand.
He, following his usual concept that he knows best, has decided that the supply and demand price of a barrel of oil should be $40 a barrel. He arrives at this mystical number by a simple process. The average price of a barrel of oil was $40 a barrel in 2004. By his thought process, that, therefore, is the supply and demand price of oil today. (Any creditable economist will tell you that reasoning is ludicrous!) Any time the price goes above that benchmark price the oil companies are benefiting from "excessive" profits. Wow! Now he not only believes he can control supply and demand, he thinks he can determine what is excessive profit and what is not excessive profit. (I don't think you can find two economists who can agree on that question, yet Senator Durbin knows.) Thankfully, we have Senator Durbin who has no problem defining excessive profit. (If his proposed law ever passed which I seriously doubt, do you think the Supreme Court would rule it unconstitutional?) (Information about Senator Durbin's proposal is from the Peoria Journal Star, 10/12/05.)
When governments believe they can manipulate and determine supply and demand issues, one result is almost inevitable. Economic catastrophe. Do you really want to change the price of gasoline? There are two ways to do so economically. Increase the supply and/or decrease the demand. Both usually take some time to provide the adjustments necessary. (The easiest way of all is to personally use less gasoline.)
After the oil embargo of the 1970's we had an opportunity to do just that. We didn't take it. Hopefully, this time, if we don't fall for Senator Durbin's doomed proposal, we will actually do what we could have done and should have done thirty+ years ago. Don't be misled by the pied piper of the libertine Democrats. Make the hard choice of actually changing the dynamics of the supply and demand for oil. In the long run, the nation will be the better for it.
He, following his usual concept that he knows best, has decided that the supply and demand price of a barrel of oil should be $40 a barrel. He arrives at this mystical number by a simple process. The average price of a barrel of oil was $40 a barrel in 2004. By his thought process, that, therefore, is the supply and demand price of oil today. (Any creditable economist will tell you that reasoning is ludicrous!) Any time the price goes above that benchmark price the oil companies are benefiting from "excessive" profits. Wow! Now he not only believes he can control supply and demand, he thinks he can determine what is excessive profit and what is not excessive profit. (I don't think you can find two economists who can agree on that question, yet Senator Durbin knows.) Thankfully, we have Senator Durbin who has no problem defining excessive profit. (If his proposed law ever passed which I seriously doubt, do you think the Supreme Court would rule it unconstitutional?) (Information about Senator Durbin's proposal is from the Peoria Journal Star, 10/12/05.)
When governments believe they can manipulate and determine supply and demand issues, one result is almost inevitable. Economic catastrophe. Do you really want to change the price of gasoline? There are two ways to do so economically. Increase the supply and/or decrease the demand. Both usually take some time to provide the adjustments necessary. (The easiest way of all is to personally use less gasoline.)
After the oil embargo of the 1970's we had an opportunity to do just that. We didn't take it. Hopefully, this time, if we don't fall for Senator Durbin's doomed proposal, we will actually do what we could have done and should have done thirty+ years ago. Don't be misled by the pied piper of the libertine Democrats. Make the hard choice of actually changing the dynamics of the supply and demand for oil. In the long run, the nation will be the better for it.
posted by Christian Gunslinger at 12:40 AM
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