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Turning Bad News Into Good News For Bush

Reported by Ellen - August 24, 2004 -

In a piece entitled Gas Pains, FOXNews.com proves that it can turn just about any negative into a positive - for Bush, that is.

The subtitle of the piece asks, "Who Says $50 a Barrel is Such a Bad Thing?" Answer: Not Fox - not when George W. Bush is up for election.

The video stream opens with a clip of George W. Bush (on vacation again) saying that he knew that high oil prices were coming and that's why he has been trying to pass his energy bill. That's followed by Jeffrey Birnbaum of the Washington Post explaining why the current record-high oil prices may be a plus for the economy. So here's what we have to give thanks for when we struggle to fill up our tanks:

Other oil producing countries will have money to invest in our economy - our stock market and our real estate - and that will keep interest rates low.

In fairness, another commentator (didn't catch her name) said that this argument is like saying cancer's good for you because it makes you glad to be alive. She pointed out that high oil prices could mean a drag on the economy.

What about the drain on consumers' pocketbooks? Not mentioned. Nor did anyone seem concerned about the specter of "other oil producing countries" (read Saudi Arabia) owning US real estate and corporations. How many people would be glad to have Arabs own controlling blocks of Ford or GE? Or the Chrysler Building? I guess we'll all be so happy that interest rates are low that we won't mind.

And, of course, Birnbaum mentioned that the higher prices could mean that Congress will pass Bush's energy bill