Redstate

Posted at 9:04am on Jun. 19, 2008 Rep. Paul Kanjorski is like an ignorant kid who doesn't know anything about economics

I wonder how much a gallon of milk and a case of Depends are running these days for a suddenly endangered Member of Congress

By Jeff Emanuel

If you're like me and are on way too many email lists involving way too many people you don't know, chances are you've gotten a ridiculous forward (or six) like this one, which I received last Spring:

NO GAS...On May 15th 2007
Don't pump gas on may 15th
In April 1997, there was a "gas out" conducted nationwide in protest of gas prices. Gasoline prices dropped 30 cents a gallon overnight.

On May 15th 2007, all internet users are asked not to purchase gas in protest of the high gas prices. Gas is now over $3.00 a gallon in a lot of places.

There are 73,000,000+ American members currently on the internet network, and the average car takes about 30 to 50 dollars to fill up.

If all users did not go to the pump on the 15th, it would take
$2,292,000,000.00 (that's almost 3 BILLION) out of the oil companys[sic] pockets for just one day, so please do not go to the gas station on May 15th and lets try to put a dent in the Middle Eastern oil industry for at least one
day.

If you agree (and I cant see why you wouldn't) resend this to all your contact list. With it saying, "Don't pump gas on May 15th"

Remember Friend:
Don't Pump Gas on May 15th

Now, as any person with half a brain and a sixth-grade understanding of economics knows, as nice as this might sound, simple economics will tell you that it is an urban legend. Say that everybody doesn't pump gas on one day. If they still drive the same amount as any other day, the same amount of gas is needed; it's a "zero-sum game" - you'll just make up for that gas used by purchasing more on a different day. If you use the same number of gallons to drive, then you'll need to replace the same number of gallons; it doesn't matter one bit if you do it on one day or another - the same amount will be spent on the gas.

In fact, contrary to the nice idea floated in this email, if there was to be a shift in prices as a result of a day-long boycott on gas purchase that wasn't matched by a boycott in gas use, that shift would actually be upward, as there would be a greater need for gas, and therefore a greater willingness (out of necessity, not desire) to spend more on gasoline, rather than less.

Less demand or more supply is the only way to effectively lower prices; simply shifting the demand from one day to another will not accomplish that in the least. Creating more fuel efficiency, or recovering and refining more domestic oil, will increase the supply or decrease the demand and positively affect prices; a one-day boycott, as nice as it may sound, will not accomplish anything at all other than to cause a glut at the pump the next day.

As a result of this fact, the story told in the previous email is, quite simply, false.

Of course, Pennsylvania has a Congressman who either doesn't get that, or is so busy pandering to the stupid and ignorant in his district in hopes of saving his suddenly-endangered seat.

Read on.

Posted in 2008 | dumb chain emails only ignorami believe | Gas Prices | PA-11 | pandering to the stupid | Paul Kanjorski — Comments (3)/ Email this page » / Read More »