Michele Bachmann clearly doesn’t understand oil markets
Candidate for the Republican nomination for president and winner of the Iowa Ames Straw Poll Michele Bachman made a very strange promise:
“Under President Bachmann you will see gasoline come down below $2 a gallon again,” Bachmann told a crowd Tuesday in South Carolina. “That will happen.”
That’s right. She’s going to somehow figure out how to manipulate a global market to bring the cost of gasoline down. Somehow. Maybe she’ll make the dollar ridiculously more valuable and set off a massive deflationary spiral that would destroy the economy. Maybe she’ll destroy the economy to make demand for oil so low that the price will plummet. I don’t know; I’m not the candidate, and the candidate hasn’t explained exactly how she’d get this done. Because there’s no way you can explain how to get this done. It’s nigh impossible, but if it were possible, it would absolutely hinge on the economy being in tatters.
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