Did you happen to hear President Bush's press conference last week when the reporter asked him about $4 gas prices, and he was completely unaware that experts were saying that the current gas prices could go that high when summer demand picks up and many places have to reformulate their gas for summer driving? He was completely taken by surprise by the news. It made me seriously wonder about this guy. He has been saying that the economy is slowing down, not headed for a recession, so I was wondering how on earth he could know what the heck the economy is doing without knowing that current gas prices are projected to go up a great deal in a few months.
When people have to put in their gas tanks what they used to put in the bank or on their dining room table, it certainly does not bode well for economic growth, unless you happen to work in the oil industry and reap the profits that they are so handsomely doing these days. So either he knew that current gas prices were slated to rise a great deal, and acting dumb (I won’t go there), or he was genuinely ignorant about this pressing and highly consequential move in energy prices, increasing current gas prices all too soon.