Glenn Beck is pretty well known for insane statements, but lately, as he sinks deeper into irrelevancy, it seems like he’s been getting worse. While in the past he’s been adamant that the Obama administration will cause the skyrocketing of gas prices, in the face of lower prices, he’s taken a different tact. No, it’s not admitting that perhaps he was wrong. Instead, lower gas prices are now a bad thing!
In Beck’s words:
Glenn, why are you pointing this out and saying this is…? Nobody’s complaining about cheap gas! Right. But this is actually not good for the United States of America in this one way.
Why isn’t it good for the United States? War! He continues:
When oil goes under the $80 a barrel mark, and it’s sustained there for very long, the number is actually $77, it puts pressure on the economic viability of the countries that produce all of the crude oil, for instance Russia, and Saudi Arabia. When that happens, under $77 a barrel, their economies begin to destabilize, and when you destabilize the world even more, it causes more problems. And they will do what they have to do to boost the prices around the world. We’re not far from war as it is. And the economy is in real trouble here. When you have people like Saudi Arabia — unscrupulous — and Russia — totally unscrupulous — and they want their money, they’ll get it.
Here’s the video, courtesy of Right Wing Watch:
It’s pretty clear Beck has absolutely no clue what he’s talking about. First, he pulled the $77 number right from you-know-where. From 1982 to 2006, prices were below $77 when adjusted for inflation. So what period of destabilization is he talking about, exactly? The last eight years, when the only period it dropped that low was the financial crisis? Or right now? He’s not working with any real-world examples. The fact is that even current “cheap” oil prices are nothing of the sort, when compared to relatively recent prices per barrel (and adjusted for inflation):
Second, good or bad, Republican or Democrat, a sitting president has very little power to influence the price of oil. This particular drop, for example, was due to a drop in prices for oil from Saudi Arabia — here in the United States, our multinational oil companies (as well as market laws) determine prices at the pump. Even when discussing expanded drilling in the United States to increase supply, the subject is usually natural gas, not oil, and any oil we do drill for is a drop in the worldwide bucket.
Last, if countries want to make more money from oil, war isn’t the first answer, especially not war with the U.S. It’s hard to see how the economic freeze the United States puts on any enemies would benefit their oil sales, and also why Saudi Arabia wouldn’t just raise prices (they lowered them, after all) if that’s what they wanted.
Glenn Beck has entered a strange realm where everything is bad determined by cause, regardless of effect. It’s not even really “cause” — just the state of events. Barack Obama is the President of the United States, therefore anything bad that happens is expected and anything good that happens is bad in some way, regardless of whether or not Obama had anything to do with it.
Featured image screencaptured from video, h/t Right Wing Watch