Shaheen TV Advertisement Fails Freshman Economics!

by Marshall Cobleigh, former NH Energy Chief

Jeanne Shaheen's television Advertisement proves conclusively that she does not propose a real world solution to high gas prices. In that advertisement she places the blame for high gas prices on commodities and financial market speculation.

Perhaps Jeanne Shaheen should read what noted liberal economist Robert J. Samuelson said July 1, 2008 in the nor very conservative Washington Post. Samuelson  said "Speculator bashing is another exercise  in scapegating and grandstanding. He points out that steel which is not traded on the commodities futures Market rose 117% during the same time frame. "The better explanation is basic supply and demand" Samuelson explains.  

The Harvard trained Samuelson points out "That financial trading does not directly affect the physical supplies of raw materials. Politicians (like Shaheen) promise to tighten regulations of futures markets, but futures markets are not the main problem. Scarcities are. Restrictions on oil production in the U.S. have limited global production and put upward pressure on prices. If politicians wish to point the finger of blame, they should start with themselves," the noted Harvard trained Samuelson concludes.

Jeanne Shaheen may have had a term at the School for defeated politicians at Harvard, but is crystal clear that she does not understand freshman economics. Her demagoging about gas prices in her TV advertisement without providing real world solutions proves that Jeanne Shaheen is unqualified to serve in the U.S. Senate.