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McCain believes Bush's word responsible for oil drop

Reported by Chrish - July 24, 2008 -

This morning 7/24/08 on FOX and Friends Steve Doocy reiterated his claim of last week that GWBush's lifting of an executive order banninnng off-shore drilling in some areas was the cause of an "instantaneous" drop in the price of oil around the world. Apparently John McCain subscribes to the ridiculous idea and gave Bush credit also - highlighting his ignorance of basic economics.

“The price of oil dropped $10 a barrel,” said McCain, who argued that the psychology of lifting the ban has affected world markets."

Almost as an after thought, before the silly banter began, Gretchen Carlson noted that oh by the way, demand is also down 4%.

Comment: this served to remind viewers that Bush is still president and powerful, and that McCain supports his every move. Unfortunately it also disserves the audience by painting a false picture of the complicated world markets that we need to deal with, oversimplifying things and putting strict magical father in charge of making things right.