As smart as Obama supposedly is, he clearly doesn't understand economics...

[statman]

I've seen this clip probably a hundred times and only now do I realize that he doesn't know what he's talking about.

http://www.nationalreview.com/planet...greg-pollowitz

He follows talk about rates "necessarily skyrocketing" saying why they would skyrocket - "because I'm capping greenhouse gasses, coal power plants, natural gas, whatever the industry is, they would have to retro-fit their operations. That will cost money - they will pass that money onto consumers."

Really? THAT is why costs would "necessarily skyrocket?"

The greatest among us has obviously never heard of inelastic demand - restrict supply of a good with an inelastic demand, and the price of that good goes through the roof - it necessarily skyrockets.

Obviously some adviser fed him the bs line about retrofitting. But retrofitting is the least of our worries. Incredibly high prices - and enormous profits for energy companies - are the result of limiting the supply of goods we can literally not do without. Small wonder that every energy company in the US is fully on board with "Cap and Trade" and with Obama. There's a butt-load of money to be made from the misery he's peddlin'.

[wuapinmon]

What does Obama think about Davies?

[Babs]

What does Obama think about Davies?

that clearly he skyrocketed unnecessarily .

[Portland Ute]

that clearly he skyrocketed unnecessarily .

Skyrockets at night...

[Uncle Ted]

I've seen this clip probably a hundred times and only now do I realize that he doesn't know what he's talking about.

http://www.nationalreview.com/planet...greg-pollowitz

He follows talk about rates "necessarily skyrocketing" saying why they would skyrocket - "because I'm capping greenhouse gasses, coal power plants, natural gas, whatever the industry is, they would have to retro-fit their operations. That will cost money - they will pass that money onto consumers."

Really? THAT is why costs would "necessarily skyrocket?"

The greatest among us has obviously never heard of inelastic demand - restrict supply of a good with an inelastic demand, and the price of that good goes through the roof - it necessarily skyrockets.

Obviously some adviser fed him the bs line about retrofitting. But retrofitting is the least of our worries. Incredibly high prices - and enormous profits for energy companies - are the result of limiting the supply of goods we can literally not do without. Small wonder that every energy company in the US is fully on board with "Cap and Trade" and with Obama. There's a butt-load of money to be made from the misery he's peddlin'.

I am not sure if increasing oil prices would be good for unemployment and the president's approval ratings but may be a good thing for reducing our dependence on foreign oil.

In short, what higher oil prices might mean:

the good: reduced dependence on foreign oil and nobama after the next election cycle

the bad: higher unemployment and a good chance of some dumbass republican for the president after the next election cycle

the ugly: maybe more war in the middle east to control that market.

[KillerDog]

I've seen this clip probably a hundred times and only now do I realize that he doesn't know what he's talking about.

http://www.nationalreview.com/planet...greg-pollowitz

He follows talk about rates "necessarily skyrocketing" saying why they would skyrocket - "because I'm capping greenhouse gasses, coal power plants, natural gas, whatever the industry is, they would have to retro-fit their operations. That will cost money - they will pass that money onto consumers."

Really? THAT is why costs would "necessarily skyrocket?"

The greatest among us has obviously never heard of inelastic demand - restrict supply of a good with an inelastic demand, and the price of that good goes through the roof - it necessarily skyrockets.

Obviously some adviser fed him the bs line about retrofitting. But retrofitting is the least of our worries. Incredibly high prices - and enormous profits for energy companies - are the result of limiting the supply of goods we can literally not do without. Small wonder that every energy company in the US is fully on board with "Cap and Trade" and with Obama. There's a butt-load of money to be made from the misery he's peddlin'.

Monopoly price without the monopoly.

[Moliere]

I've seen this clip probably a hundred times and only now do I realize that he doesn't know what he's talking about.

http://www.nationalreview.com/planet...greg-pollowitz

He follows talk about rates "necessarily skyrocketing" saying why they would skyrocket - "because I'm capping greenhouse gasses, coal power plants, natural gas, whatever the industry is, they would have to retro-fit their operations. That will cost money - they will pass that money onto consumers."

Really? THAT is why costs would "necessarily skyrocket?"

The greatest among us has obviously never heard of inelastic demand - restrict supply of a good with an inelastic demand, and the price of that good goes through the roof - it necessarily skyrockets.

Obviously some adviser fed him the bs line about retrofitting. But retrofitting is the least of our worries. Incredibly high prices - and enormous profits for energy companies - are the result of limiting the supply of goods we can literally not do without. Small wonder that every energy company in the US is fully on board with "Cap and Trade" and with Obama. There's a butt-load of money to be made from the misery he's peddlin'.

Demand of oil/gas is inelastic? Maybe in the short-term but not necessarily the long-term, which is how the caps would be put into place. The idea would be to lower the cap gradually so as to not put incredible strains on the demand/supply relationship. Obviously costs will go up, but probably not as much as the Beckites are predicting.

And as for every energy company being on board with cap and trade, simply not true...not even in a generalized statement format.

FTR, I think cap and trade as national policy is a stupid idea, but there are better reasons to be against it then what is shown in that clip.

[Paperback Writer]

Skyrockets at night...

Correction:
Skyrockets in flight. Afternoon delight.

I'm embarassed to know the lyrics to this melody. Watched Good Will Hunting one too many times.

[RobinFinderson]

Correction:
Skyrockets in flight. Afternoon delight.

I'm embarassed to know the lyrics to this melody. Watched Good Will Hunting one too many times.

Good Will Hunting? What about Anchorman: The Legend of Ron Burgandy?

[CJF]

Good Will Hunting? What about Anchorman: The Legend of Ron Burgandy?

Arrested Development.