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Swiss America Chairman Craig Smith on politicians blaming speculators when gas prices rise, but not when the prices decline.
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And so does my buddies with America chairman Craig's list.
Pregnant silence is -- -- deafening.
-- -- -- it's it's almost comical it's it's ironic when you think about it who could forget Maxine Waters in 2008.
Which you -- for her she wants to socialize.
The oil industry vertical -- -- to take it over we're gonna runner for you showing show you how it's done.
And you're right -- where's -- where's the outrage today -- -- the answer -- -- I do my friend.
It's a supply and demand issue it's economics 101 you've tried -- -- to your dear friend Bill O'Reilly you had -- said Chris van Holland straight on your program on your world.
When will we get it through our thick heads -- all these investigations all of these studies all these hearings.
Have never come up with one shred of evidence.
That speculators.
Are the big bad oil guys cause prices to go copper prices to go down it's simple supply and demand and when will they get it through the -- well.
I feeling they took but Fred I think you're right I think -- imports in my new book maybe -- a cynical point -- I think they do know that and I think they do know.
That this is supply and demand and I think it makes great theater and and and and and great pizzazz and great headlines.
When you go after when the prices rise.
But but you'd just silent as -- church -- -- it when they come down.
Because if you're gonna be consistent on this issue of rate markets let's say -- these guys might be shorting the price of oil and gas right now.
Betting prices go down that would presumably be justice sinister but that gets a pass on.
The all share because of course that's good for their political futures that he could think about this -- we saw the same thing in the housing issue.
I mean let's be real honest about this.
David talk about the bad loans being made are all the credit that was flowing -- disclosure house went up every year -- politicians were fine with this another minute that the house prices started to drop.
All you know what broke loose -- and it was that bad evil.
Tankers the reality is and this is primarily on the democratic side I might say and I hate to be so partisan about it they're always looking for a bogey man they're always looking for a bad guy.
And the reality is if these politicians took as much time to put together solid legislation.
Which we haven't had for forty years in this nation for an energy plan -- As much time in that as they do grandstanding these issues.
We wouldn't have a problem with energy -- you know as well as I do -- right under our feet.
There's enough reserve to take -- this country to give us a low cost reliable supplies of energy for decades to come it's about time these wrestles got off.
Well there were about how well it is not natural gas under underneath the ground to say nothing of the odd -- above the ground in the capital to -- -- centuries.
But what's great I've found that -- -- -- that's it because it reminded me of another cent.
And that is you know piling on the bags -- -- -- it seem like them.
You know on the trying to be at a patrons say into the banks I'm not I'd but I do remember quite vividly.
Howell of the it was sort of like a birthright that everyone had to get a mortgage -- -- related to banks are being -- you better lend it.
Day everyone and anyone.
And if you don't there's there's how the day so they lent to everybody -- -- one.
The whole house of cards came tumbling down and they told them right after the meltdown never do that again.
And now they're penalizing them for being strict about -- he can't win.
But I guess they've any lessons Aruba as a guy as -- -- you know quoted a lot didn't -- financial and general press.
The people should remember year and take away from this this latest gas incident.
You bet.
Life is not always fair life has risks sometimes markets go up and sometimes markets go down -- And if we think that politicians can smooth that process out.
We're really dreaming if you want to see look I have to do is go back to Nixon and Carter wager price controls you let the government get -- -- start fixing.
Markets by.
Limiting supplies by limiting price and you're gonna have a real mess on your hands there's -- global market for oil today.
It's a supply demand issue look the positive in all this -- is 2002 and prices started creeping up from the lows and 98.
Billions were spent on exploration work I've done deal all kinds -- new discoveries we've got all kinds of new supplies.
That's bringing the price down I would argue you've got a base -- between eighty and ninety dollars for oil for a long time to come come.
If the politicians.
Don't mess it up but as you know my fare airline meal -- screw up a one piece puzzle these Rasmussen Washington.
Well I'm gonna -- -- of a probe into all of this but Craig Smith of.
