January 03, 2011

Ah, but y'see -- there's a Democrat in the White House now!

WRAL.com in North Carolina: Economist: Rising gas prices 'good sign.'

NC State economist Mike Walden sees a silver lining in higher gas prices, saying it means the US economy has regained its footing and is getting back up to speed.

"Gas prices going up is actually a good sign," Walden said. "$3 is normal. When we were down in the $2 (range), that was abnormal due to the recession.

"I don't see anything diabolical, mysterious or underhanded here," he continued. "I think it's just a sign that the worldwide economy is better now than it has been over the last three years."

What a positive spin on skyrocketing gas costs, eh?

Flashback to June 2007: Poll: Oil Companies Blamed for Gas Prices.

According to Public Policy Polling results released Tuesday, 43 percent of respondents feel big oil companies are driving up gas prices to boost their profits. Another 28 percent feel President George W. Bush and the war in Iraq are driving up the cost at the pump.

Flashback to September 2008: Attorney general to probe gas prices; N.C. average tops $4.

North Carolina Attorney General Roy Cooper said the state will take the first step in investigating claims of price gouging by sending subpoenas to certain gas stations Monday. Companies face a civil penalty of up to $5,000 for each violation of the price-gouging law.

Flashback to February 2006: Political Parties Divided On Gas Price Solution.

Democrats applaud Gov. Mike Easley's letter to President George W. Bush calling for an investigation of gas company profits. Republicans say Easley is shifting the blame from Democratic state lawmakers.

Flashback to August 2008: High gas prices take toll on charity workers.

Flashback to October 2008: N.C. gas prices sit high above national average.

Flashback to May 2009: Gas prices on the rise again.

Most experts have said it is likely that the cost of gasoline will climb a little higher for the summer. They said it is difficult to gauge how much but most don't expect it to be as high as last summer.

The reason for the increase, Denise McCourt with the American Petroleum Institute, said is basic economics.

"It's supply and demand that drives this market place," she said. "It's the global mindset about what's going on out there."

Oh, right! In May 2009 there was a new guy in the White House! That's why we "don't expect [gas prices] to be as high as last summer," and the increase is suddenly "basic economics."

Scratch that last one ... !

Posted by Hube at January 3, 2011 08:30 PM | TrackBack

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