**Posted by Phineas
You may have noticed that gas prices have gone in recent months — 30 cents per gallon on average in the last month alone. Since rising gas prices tend to hurt the party in power, the Democrats have decided the answer is not to do what it takes to bring prices down, but launch a witch hunt. Connecticut’s Senator Richard Blumenthal (D)(1) has gone so far as to suggest a grand jury:
Sen. Richard Blumenthal (D-Conn.) on Sunday called for an aggressive federal probe – including a possible grand jury – into whether rising gasoline prices stem from illegal manipulation of energy markets.
President Obama and the Justice Department last week announced a multi-agency task force to explore whether there is price manipulation or fraud afoot, and the role of speculative trading in energy futures.
Blumenthal, Connecticut’s former attorney general, said on CBS’ “Face the Nation” that federal officials need to play hardball.
“I commend and applaud the president for focusing on this issue but I think there really needs to be an investigation involving, for example, subpoenas and compulsory process which I used as attorney general in similar investigations. There needs to be very possibly a grand jury to uncover the potential wrongdoing,” said Blumenthal, who was elected to the Senate last year.
“The Justice Department should take the lead, seize this moment and send a message, a very strong deterrent message that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” he added.
I’ve often said that to be a liberal Democrat or progressive requires one to surrender any knowledge of basic economics and embrace ignorance, but I don’t think Blumenthal is ignorant, here. Rather, as gas prices approach $5 per gallon in some parts of the country, Democrats, and Blumenthal is just the latest example of Democratic demagoguery on this, have resorted to blaming
witchcraft greedy oil companies and wealthy people(2), because they dare not admit as we head into election season that, in accordance with immutable economic laws(3), their own policies have largely contributed to the rise, thus making the voting public miserable and likely to take it out on Democrats.
First, several of the major world suppliers of oil (aka The Middle East and North Africa) are undergoing a period of turmoil and revolt that makes oil supplies uncertain. This potential for disrupted supply means that buyers (us included) have to pay more to compete for oil from other areas, because of the greater demand.
On top of that, thanks to the Luddites of the environmental movement, the United States has failed to extract enough of its own oil and refine its own gas to keep up with its needs, thus meaning we need to buy more on the open market, further driving up prices.
This is something called “supply and demand,” a law the Democrats just hate, because it makes them face the consequences of their actions, such as:
- A deliberate policy of seeking gas prices that match the obscene amounts charged in Europe.
- A “permitorium” meant to block almost any new exploration and drilling off our coasts or on land, even in defiance of a federal judge’s order, while at the same time driving up the cost of doing what business is allowed — or even when doing nothing.
These and other administration actions –deliberate choices done in full knowledge of what will happen– drive up the price of fuel for all of us. The Democrats know this and they know the public will get angry and thus hammer them on Election Day because of it.
Hence the appearance of tools and flunkies like Blumenthal on the talk-show circuit, trying to distract us by blaming corporations, “speculators,” and price gougers for a problem they themselves set in motion. They’ve taken their lead from Obama and, dagnabbit, they’re going to follow it right off that electoral cliff.
Go ahead, guys, treat us as if we’re ignorant rubes, and then the adults can clean up your mess when they take charge in 2013.
(1) As if we’re supposed to trust a guy who lied about his service in Vietnam.
(2)I wonder if this includes the wealthy who paid $38,000 per seat at Obama’s recent fundraiser?
(3)Liberals and other Leftists just hate these things, because they’re mean and make them face reality.
UPDATE: A follow-up post on the real gougers: fuel taxes.
(Crossposted at Public Secrets)