April 30, 2006
Supply & Demand
Tim Russert had the Energy Secretary on this morning's Meet the Press to discuss high gasoline prices.
In today's show, Mr Russert, former demonstrated complete ignorance of supply and demand.
- MR. RUSSERT: Mr. Secretary, if, if demand is up but supply is down, why are the profits so high?
MR. BODMAN: For that reason.
MR. RUSSERT: No, think about that.
MR. BODMAN: You know?
MR. RUSSERT: Play it out.
MR. BODMAN: Demand is up.
MR. RUSSERT: Correct.
MR. BODMAN: Right?
MR. RUSSERT: Right.
MR. BODMAN: So you’ve got more demand, you’re going to force price up.
You’ve got, you’ve got limited supply, and you’re going to have…
Expose the Left has more of the transcript and video! Oil and Energy On the web Posted by AlexC at April 30, 2006 11:50 PM
Across the dial on the evil FOXNews network, Juan Williams accused the oil companies of price gouging. Bill Kristol said that profits were up 7% on sales that are up 8%. Williams thought that that demonstrated gouging....ooooookay...
Posted by: jk at May 1, 2006 10:13 AM | What do you think? [1]