According to the American Automobile Association (AAA), the nationwide average for a gallon of gas has fallen to $2.50 a gallon, which is a 19-month low. Rep. Michele Bachmann (R-MN) has two simple explanations for the drop: offshore drilling and her own magical influence over the price of gas.
As the Minnesota Independent reported, “In an Oct. 29 campaign event with Norm Coleman, Bachmann took credit for gas prices that in her district were $2.04 a gallon.” “That was my goal. When I started out early this year, my goal was to get to $2 — oh they gave me grief for it,” she said.
Meanwhile, on her Townhall blog Bachmann wrote:
What happened the past few months to lower the cost of gas? Several things, but perhaps most importantly, Congress has let the ban on offshore oil exploration and oil shale expire, sending a signal to the markets that the United States may finally be ready to up their supply.
To credit the mere expiration of the offshore drilling ban – or her own personal influence – as the reason for dropping prices is patently ridiculous. Bachmann completely failed to note the “historic pullback in consumption by U.S. motorists this year.” CNN Money noted that there was “a 5.3% decline in demand for motor gasoline over the four weeks ended Oct. 3, compared to a year earlier.”
Also, the economic crisis has solidified the belief that demand will not rise anytime soon. The U.S. economy contracted by 0.3 percent in the last quarter, which is “reinforcing expectations of a prolonged slump in demand.”
Unless Bachmann is personally taking credit for driving the demand for gasoline down across the country, she might want to find another accomplishment to crow about.
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