Let The $9.8 Billion Rumpus Begin! (Romney Big Oil Edition)

From ABC’s The Note:

DEMOCRATIC SUPER PAC LINKS ROMNEY TO BIG OIL.“Priorities USA Action today released a television ad ‘Romney’s Big Oil Trail’ to expose the true motivations of big oil’s attacks on President Obama — to elect Mitt Romney who stands to protect big oil’s profits at the expense of middle class Americans. ‘While President Obama is taking serious action to make America less dependent on dirty and dangerous sources of Middle East oil and create clean energy jobs here at home, Mitt Romney and the oil companies bankrolling his campaign are profiting from high gas prices politically and financially,’ said Paul Begala, Senior Advisor for Priorities USA Action. The ad will run both on television and online in Colorado, Florida, Iowa, Michigan, New Mexico, Nevada, Ohio and Virginia.” WATCH:http://bit.ly/HgxiOW

The spot:

 

Truth is, all this gas price talk is just gasbaggery.

See Politifact for further details.

Not to get technical about it.

About these ads
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2 Responses to Let The $9.8 Billion Rumpus Begin! (Romney Big Oil Edition)

  1. Politi-”fact” is hardly a reliable source, even if I agree with them.

    Oil prices are driven by supply and demand. When the economy is in the dumper, demand is low and the price falls. When the economy is humming, demand is high and the price rises.

    Just about the only way a president can affect oil prices in the short run is to destabilize the government of an oil producing country, which will increase jitters over supply.

    Back in the summer of 2001, when oil was under $30/bbl and Saddam was selling his oil to France and Russia under “oil for food”, US oil execs famously met with Cheney. No info was ever released about this meeting, but I wouldn’t be surprised if Cheney told them the US would find an excuse to invade Iraq, increasing the oil price and securing the supply for US companies. THAT’s how administrations boost the price of oil.

  2. Pingback: More Wind From The GOP’s Biggest Gasbag | Campaign Outsider

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