In fact, everything you know about supply and demand — everything you ever learned — is wrong. Bill O’Reilly says so.
Gasoline prices came down recently not because high prices reduced demand and because damaged refineries came back online. No. According to Bill O’Reilly, gas prices came down because CEO’s of major oil companies got scared of all the reports he did on the subject:
O’REILLY: I have guys inside the five major oil companies – my father used to work for one of those oil companies by the way – who have told me that in those meetings they look for every way to jack up oil prices after Katrina, every way, when they didn’t have to. They got scared because of my reporting and reporting of some others. They said, “Uh ho.”
CAVUTO: So wait a minute, you’re not, you’re taking credit for gas prices being down from where they are?
O’REILLY: I said my reporting and some reporting of others. They got scared.
“My dad used to work for one of thos companies!” That’s rich! I have not heard that since junior high school! I’m waiting for O’Reilly to take credit for some violation of the laws of phsyics.
4:16 pm on December 1, 2005
