Saturday, June 02, 2007

When is a Presidential Candidate an Idiot?

When an idiot is running for President. Or, when his name is John Edwards. Much like Hugo did earlier in the week, Edwards proves his lack-of economic sense with these comments from Thursday:

Democratic presidential hopeful John Edwards says a wave of mergers in the oil industry should be investigated by the Justice Department to see what impact they have had on soaring gasoline prices.

During a planned campaign stop Thursday in Silicon Valley, Edwards planned to berate the oil industry for "anticompetitive actions" and outline an energy plan he says would reduce oil imports "and get us on a path to be virtually petroleum-free within a generation."

"Vertically integrated companies like Exxon Mobil own every step of the production process - from extraction to refining to sale at the pump, enabling them to foreclose competition," says an outline of Edward's energy plan provided to The Associated Press by his campaign.

Nincompoop...Oil companies margins haven't changed much at all over the years. If anything, they've shrunk some. Yet apparently oil companies are just setting prices arbitrarily with no regard for the market.

Yeah, right.

I didn't think much of Edwards in the '04 campaign--he came across as too much of a slick-talking empty suit and his but one uneventful term in the Senate did nothing to dispel the sense that he didn't know enough to handle the job. Stupid stunts like this one only underscore that same sense three years later.

Perhaps Bob Shrum is on to something...


Simian Logician said...

Just to be a pain in the tucchus, I note that your graph comes from the American Petroleum Institute. While I think it is accurate or at least somewhat accurate, can you deliver a similar graphic from a source that couldn't be accused of bias?

All in the spirit of balance, Pauly Walnuts.

Paul Hogue said...

How very Sheik-like.

Simian Logician said...

Low blow.

I didn't intend it as a slam. Was just curious because it does look like a source that might be considered biased.

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