After my previous post commenting on rising oil prices and the logical result (decreasing oil usage), I am heartened to see that at least someone in this presidential election understands simple economics. At least, as they apply to oil usage.
Barack Obama said on Saturday Americans would start changing the kinds of cars they drive if gasoline prices continue to climb and said he owned a hybrid vehicle, though he doesn’t drive it much.
Without specifically telling Americans to stop buying gas-guzzling sport utility vehicles, the Illinois senator said higher fuel prices would lead to a shift (Reuters).
I’m not quite sure why we need to mention his personal hybrid vehicle, but it is good to hear that the Senator at least understands basic market forces as they apply to the consumer. Now if only he had a better grasp of macro economics…
a real brain surgeon that Obama…total sales are down, not just SUV’s and it’s a trend that didn’t just start this quarter or last…tack that on to “Iran spends less than the U.S. on defense so therefore they are not a threat”