Common Sense

Cavuto: Who's really to blame for gas prices?

Response to heated debate with Rep. Baccerra

 

It's a good thing I'm not pulling an energy secretary thing here and grading myself

For that heated back and forth with Democratic Congressman Xavier Becerra.

"As" the interview was going on, Sara in New York had the red pen out.

"A big fat "f," Cavuto. Because you acted like a fool, and, because you're fat. And you're an arrogant ass."

Cathy in Pittsburgh.

"You made an idiotic congressman look like Stephen Hawking. Nice going, jerk!"

Anita e-mails.

"Ok, you had all the facts on your side. He didn't. You had all the expertise. He didn't. You had the quicker wit. He didn't. But that's no excuse for inflicting that god-awful shirt and tie combination on us. That's what I found offensive! You were collaring a congressman and all I could look at was that stupid collar. All that was missing was a bib emblazoned with the words, 'I’m a big boy, now!!"

Anita, I have no idea what you just said.

Felix via Comcast.

"You were not rude! You were frustrated, just as I was."

Donna in Spokane, Washington.

"Can you clone yourself? Your interview was brilliant. No apology necessary."

Katherine via AOL.

"I wanted to rip his head off when he called your questions "nonsensical" -- just one of the many reasons you're on air and not me."

Billie via Cox.net.

"You were too easy on Becerra."

Man, I can't win here. Too easy. Too tough.

Then there's ...Louise via Roadrunner.com.

"I agree with the e-mailers who said you were bullying the lawmaker...and it is a tiring shtick you use to yell at and bully Democrats, each and every time. Where are your manners?"

She had much more to say, but I simply deleted the rest of the email.

John C. in Dallas.

"You’re becoming a bully and I don't like you much anymore."

Paul G., Anaheim Hills, Ca.

"People think you were hard on the congressman?!! Tell them their planet called, and would like them to come home."

George M. e-mails.

"Blaming speculators for high oil prices is like blaming your bookie when your team loses. It's just crazy."

My point, exactly, George. Speculators chase prices either way.

So when they're shorting energy contracts, betting on a "decline" in costs, as they were in 2007, everyone's fine with that. Not the other way around.

That's understandable. Here's what's not...picking and choosing when capitalism suits you.

...so it's "ok" to go after speculators, like derivatives traders, when they push "stock" prices "down," but not when they push prices "up."

"Not ok" to go after speculators when they push energy prices "down," only when they push energy prices ""up."

Not that either can do much more than nudge prices in either direction. They can gun the system. Despite all their so-called power, all the speculators in the world can't "control the system."

Politicians know that. They just don't tell you that.

And you know why?

Because that puts the blame back on them. And what they're failing to do. Not the speculators, and what day in and day out, they always do...up markets, down markets, any markets. Last time I checked...free markets.

No, the markets aren't the problem. Government is.

Dusty in Pensacola, Fl.

"You identified the problem!!! The ludicrous, unending spending spree of the federal government...keep after 'em, neil."

Helen K. in Woodstock, Ga.

"Neil, you are 100% correct, regarding the source of the problem with rising oil prices. Without a sound dollar, we have inflationary pricing. The fed keeps printing money, causing the value of the dollar to decline....your democratic guest is either obfuscating, or clueless."

Helen, talk to ...Robert in Cedar Key, Fl.

"Kneel," more of your snake oil...it "is" the speculators, pure and simple. Supply is up, demand has not increased. Pure speculation."

Scott, pure bull. First off, demand "is" up.

And the dollar "is" down and has been going down for years because of the mockery of our budget process in Washington which hasn't produced one in years...oil is priced in dollars...so the cheaper those dollars get...the more of them it takes to buy that oil, or anything else for that matter.

As I said, speculators may gun the system, but even the Federal Reserve estimates that, at best, speculators have accounted for 15 percent of the rise.

Scott, quick question then?

What? Or who? Accounts for the remaining 85 percent?

I report.

You feel free to just...deride.