Oil prices going up because oil companies are greedy?

in warren •  3 years ago 

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Seriously... The theory here is that gas prices go up because "giant oil companies" are greedy. But there is no corresponding explanation for why or how oil prices would ever come down, even though they have done... significantly, and countless times, including in recent memory.

I'd like to remind you that Warren was a professor at Harvard, but only one of two explanations for this nonsense are possible.

  1. She really is this stupid, and believes that prices are determined by corporate greed even though that should obviously be understood as a constant and not something that fluctuates or ever really goes down over time, as opposed to believing what economists have known for literally centuries: prices are a function of the relationship between supply and demand.
    Or...

  2. She knows that she's lying, but she thinks that you and me and all of her constituent voters are utter morons who can be easily whipped into a frenzy of hatred for big corporations instead of looking at the (almost certainly government-caused) reasons for the supply of oil not to keep up with demand.

I suppose there's also an option 3 which is some combination of stupid and lying.

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