Tuesday, May 23, 2006

Oh when does it stop?

Katie Couric interviewed the CEO of Shell Oil this morning and I was once again amused and dismayed by the fact her first question was along the lines of, "Why don't you use your profits to lower wholesale prices?"

The question demonstrated such a lack of understanding of fundamental economic principles, not to mention the fact that they have asked this same question of every single global major CEO who has endured the hot seat and neither Katie, or Matt Lauer, or the Today show seems to get the concept of supply or demand, or even how an international commodity market works (hint: NYMEX).

Anyway, even if the CEOs and Congress aren't giving Americans a gas rebate, GM is. Ah those crazy Detroit guys.

No comments: