Remember When $2 Gas was Mocked?

Remember how the media experts mocked Michele Bachman for promising $2 gas during the campaign?

I saw $1.94 yesterday. No recession.

I expect we’ll be seeing some apologies.

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I remember. Wasn’t so very long ago.

Surely others have a mild recollection of petroleum price panic and gloom.

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She was talking about the national average price, not a local outlier.

Current national average price of unleaded gasoline is $2.53.

If the average national price drops to $2 a gallon or below, odds are high that we’re in recession or really slow economic growth.

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Ok, if you say so. :rofl:

Gas costs about 3.50 a gallon here.

Remember when $8 gas was mocked?


I do say so because I understand economics.


Thank Obama. Oil prices dropped dramatically after the Iran deal in 2014 - see pic. Michelle Bachman wanted to start a war with Iran. I’m sure that would’ve helped.


Ever since the Iran deal, SA and OPEC been struggling to cut supply.

It’s like this gas price chart follows almost exactly the 2008 crash and recovery.

Or a really nasty winter / snowstorm

Of course those of us not in the industry or in states were oil is a huge part of their economy, love lower gas prices.

“Mr. Trump is expected to discuss oil prices with the crown prince of Saudi Arabia at the Group of 20 summit meeting at the end of the week. That conversation will come days before the Organization of the Petroleum Exporting Countries is expected to set production targets.

If he persuades major oil-producing nations to maintain their current output, “oil prices could go down to the low 40s,” Mr. Kloza said.

That kind of drop would have been an unalloyed economic boon for the United States just a dozen years ago, when domestic oil production was declining and the country was becoming increasingly dependent on unstable or unfriendly countries like Venezuela and Nigeria.

But lower prices will have a more ambiguous impact now. After the boom in drilling in shale fields, oil production in the United States has more than doubled since 2008, to upward of 11 million barrels a day now, and the country has become a major exporter. Exxon Mobil, Chevron and other oil companies have made huge investments and employ tens of thousands of workers across the country.

After prices began to slide in late 2014, more than 160,000 oil workers lost their jobs. Hundreds of smaller drillers went bankrupt, putting pressure on banks and investors. Manufacturers and other businessesthat supply the energy industry also took a hit.”

Michele Bachman was right. It reminds me of the mocking of Trump when he announced.

I just paid $2.98 this morning. Right on Capitol Hill 8 blocks from the US Capitol Building. Everywhere else in the area is + .02 or more.

Michelle Bachman was not right.

Wonder what Ms. Bachmann is up to these days. I suspect she would have gotten a lot more press if she hadn’t been living under Palin’s shadow.

I saw $1.94. She was right.

With taxes?

I haven’t seen it. She was wrong.

$2.87 here as of yesterday.

Crazy Michelle Bachman isn’t right yet.

Thing is, she claimed she would bring gas prices down to $2.00 a gallon or less.

In August of 2011, as Rep. Michele Bachmann (R-MN) campaigned for the GOP’s presidential nomination, she vociferously blamed President Barack Obama for high gas prices, pledging to get the cost under $2 a gallon if she’s elected into the White House.

“The day that the president became president gasoline was $1.79 a gallon. Look at what it is today,” she said at an event in Greenville, South Carolina. “Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.”

So she didn’t do it.

She isn’t right.

She was right.