Last Sane Man Standing - Blog of Corey Deitz

"Be Smart"

January 02, 2008

This morning, a caller who makes a living as a truck driver, called to warn us that he heard gas prices would soon hit $4.00/gallon. Then, he went on to say not only was it Bush's fault but implied Bush had something to gain by it all.

I admit, Bush has plenty to be blamed for (as does every President) but, it is just dumb to think that the reason our gas prices are high is because Bush wants it that way and is somehow profiting.

Before we saddle Bush with all the blame as this caller would conveniently do, let's remember that Big Oil lobbyists have been in D.C. for decades slicking down our politicians - Democrats and Republicans. And if you pull up the records for contributions to candidates in the next election, you'll no doubt see contributions on both sides from Big Oil.

Not to mention the fact that we have to import most of our oil from countries that have no problem sticking it to us.

But, folks let's get some perspective on who has an interest in what. If you have a mutual fund, YOU probably own oil stocks. Tens of millions of Americans - besides Bush - have oil stocks via investments from IRAs, 401ks, etc.

Ironically, according to USA Today, "None of Bush's individual stock holdings exceeds $1,000." You may own more oil stock than Bush!

And while we're on the subject of Bush and whatever his interests may be, USA Today notes:

"Most of Bush's fortune comes from the 1998 sale of his interest in the Texas Rangers baseball team, which netted him nearly $15 million...Bush has had his holdings managed by a blind trust since 1995, when he was elected governor of Texas. Northern Trust, the trust manager, makes investment decisions without his knowledge. The arrangement is designed to avoid conflicts of interest."

Complex problems demand thoughful solutions. If you really care about the truth, don't repeat stuff you hear from sources that are either not accurate or just biased. Our listeners are pretty smart. We'd like to help keep you that way.