Thursday, April 27, 2006
the coach said "[jon stewart], remember your role"
Margaret Stassel, one of the editors of the WSJ was on the daily show last night. Or it was on last ngiht up here, it may have been 3 weeks ago in the states for all I know. The Daily show is normally very funny. I am partial to "the Decider."
anyway, stewart has this woman on to discuss gasoline prices. He allows her to explain that gas prices are up because the global supply of oil is down due to international conflict/disaster while demand is rising due to globalization. ok. so far, so good. stewart then asks if he can be angry at the oil companies for their record profits. She attempts to explain that the profits are a byproduct of increased prices on a global fungible good offset by the fact that the companies already own the leases for oil extraction so those costs are static. (increased sale price) - (static production cost) = (increased profit). Stewart will not let her explain this. He continues to play dumb which keeps this crucial point for coming out.
He then supports her and her blatant WSJ-style, invisble-hand explaination of high gasoline prices as a byproduct of the ethanol mandate in the Energy Bill. He lets her roll off 1 full minute of iunmitigated ethanol-bashing. Now I know ethanol has serious drawbacks (it is technically a fossil fuel due to endothermic production), but jesus, Jon, stick up for some kind of long-term thinking. or at least allow some decent explanatory knowledge to be disseminated. WSJ's free market thinking needs to be questioned in public.
anyway, stewart has this woman on to discuss gasoline prices. He allows her to explain that gas prices are up because the global supply of oil is down due to international conflict/disaster while demand is rising due to globalization. ok. so far, so good. stewart then asks if he can be angry at the oil companies for their record profits. She attempts to explain that the profits are a byproduct of increased prices on a global fungible good offset by the fact that the companies already own the leases for oil extraction so those costs are static. (increased sale price) - (static production cost) = (increased profit). Stewart will not let her explain this. He continues to play dumb which keeps this crucial point for coming out.
He then supports her and her blatant WSJ-style, invisble-hand explaination of high gasoline prices as a byproduct of the ethanol mandate in the Energy Bill. He lets her roll off 1 full minute of iunmitigated ethanol-bashing. Now I know ethanol has serious drawbacks (it is technically a fossil fuel due to endothermic production), but jesus, Jon, stick up for some kind of long-term thinking. or at least allow some decent explanatory knowledge to be disseminated. WSJ's free market thinking needs to be questioned in public.
# posted by 8yearoldsdude @ 11:01 AM 
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Here's a great quote from today's Times on NJ Gov. Corzine's proposal to end that state's ban on self-serve gasoline. (Yes, for those who are unaware, New Jersey requires that an attendant pump your gas. Yes it's incredibly stupid. And yes, it causes huge lines on the Turnpike and nearly puts me into a blind rage sometimes.)
"The idea does require legislative approval, however, and early reaction was mixed. Assemblyman John S. Wisniewski, a Democrat from Middlesex County who is chairman of the transportation committee, said in a statement, 'Telling a motorist that self-serve will save them money at the pump is like telling someone that they could save money on a new home by building it themselves.'"
This is a great quote because it's like an onion... each time you think about it again and peel back another layer, it seems even more nonsensical.
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"The idea does require legislative approval, however, and early reaction was mixed. Assemblyman John S. Wisniewski, a Democrat from Middlesex County who is chairman of the transportation committee, said in a statement, 'Telling a motorist that self-serve will save them money at the pump is like telling someone that they could save money on a new home by building it themselves.'"
This is a great quote because it's like an onion... each time you think about it again and peel back another layer, it seems even more nonsensical.
# posted by 
: 9:09 AM
: 9:09 AM << Home
