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Monday, June 23, 2008
Cavuto: Making Something Out of Nothing
By Neil Cavuto, Anchor & Managing Editor
FOXBusiness
Missed tonight's Cavuto? Catch "The Deal" right here on FOXBusiness.com
Here's the Deal: the worse things get, the sillier we get.
And when it comes to dealing with these higher oil prices, we're getting very silly.
The Saudis hold meetings they know will accomplish nothing.
And candidates make proposals they know will do nothing.
Are we really surprised oil prices went up after the Saudis agreed to increase oil production?
Should we really be surprised when the "increase" they're talking about is only 200,000 barrels a day, and only then, "as needed."
As needed?
That's like me saying I'll eat vegetables "as needed."
Let me tell 'ya something, I'd need to eat vegetables 24/7 for 24 years to get "as needed" results. That's what's needed.
More oil production's needed, too.
But is it me, or isn't this sudden oil manna from heaven coming from the same folks who swore on a stack of Korans little more than a month ago that there was no more oil to be had...
Well I guess we were had...Because during that time they've increased production...Or so they say they have...By 700,000 barrels.
Hey, we're not much better.
The Republican candidate for president comes up with the Einsteinian proposal to award 300 million bucks to the first person who can come up with an automobile battery that surpasses any technology out there.
Now, that's "out there."
But not as "out there" as the Washington spectacle of suddenly targeting speculators who've been in the oil markets for decades, for the dramatic price runup over the last year.
More finger-pointing. More scapegoating. More nonsense.
It's no wonder the Saudis were smiling after their meeting.
They knew the press would jump on their promise to do something, which was nothing.
And say not a word of our politicians doing nothing, which was something.
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