It’s Amazing That This Must Be Explained

The Institute for Policy Innovation summarized why gas prices are going down:

….. greedy consumers are forcing gas station owners and the oil industry workforce into taking less money for the gas that they sell.

There should be an investigation, right?

Politicians were more than ready to investigate “greedy oil companies” when gas prices were high.

Now that gas prices have dropped by about nearly a dollar a gallon, doesn’t the same logic apply? Isn’t there a secret plot by consumers to line their own pockets with their own money?
….. conspiracy theories are absurd.

Markets—that good ol’ supply and demand—determine the level of prices. And the recent drop in gas prices is no exception.

The end of the summer driving season means fewer people are taking long trips and using more gas.

The suspension of the shooting war between Israel and Hezbollah calmed fears about a supply disruption.

And the oil companies have increased their efforts to find more oil because of the incentive of higher prices.

All of which has led to more supplies, lower prices and—perhaps most importantly—a boost to the economy.

The 527 Media’s willingness to comment on a conspiracy that doesn’t exist is right up there with the laughable rumors that the military draft was going to be reinstated in the runup to the 2004 election. Actually it’s worse. There’s a tiny chance that our government would lose its mind and put the draft back in place. There’s NO chance that the laws of supply and demand will be repealed as long as human nature is what it is.