Obama mocked the GOP idea that drilling for oil would lower gas prices...

[scottw]

Originally Posted by Jim in CT

Average income for a person whu buys a Chevy Volt...wait for it...$170k a year. Why, exactly, do we need to give these people tax breaks, at the expense of everyone else? I thought Obama said that it was conservatives who want to give tax cuts to the rich, because of racisthatecrimeintolerant...

If its hybrid cars that are driving down the price of oil, why now? Hybrids have been around for quite a while now, no?

http://www.timesfreepress.com/news/o...-buyers/72585/

right..."tax credits for the rich" if roles were reversed....

the credits were not intended to reduce demand or oil prices, they were intended as an answer to "necessarily higher" energy prices ( and to prop up GM)

[Jim in CT]

Originally Posted by scottw

right..."tax credits for the rich" if roles were reversed....

the credits were not intended to reduce demand or oil prices, they were intended as an answer to "necessarily higher" energy prices ( and to prop up GM)

I presume that as more Americans drive more fuel-efficient cars, that will reduce our demand. But I'd also assume that our decreased demand is more than offset by increased demand in emerging economies like China and India. Is world demand for oil significantly lower than it was a few years ago?

And even though the credits weren't "intended" to lower prices, we can chalk that up to a fringe benefit of Obama's briliance.