Was going to do a Page on this over the weekend but it turned out I’m lazier than I thought I was… so I’ll just offer it up here:

Why Bill O’Reilly’s Gasoline Price Solution Doesn’t Work

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During my interview with Alan Colmes, he mentioned an idea that Bill O’Reilly has proposed, and that is to address gasoline prices by discouraging U.S. oil companies from exporting their products. Here is O’Reilly discussing the idea. Let’s dissect a few of his comments:

O’Reilly: We began covering the skyrocketing oil prices last Friday with Lou Dobbs. He was candid. Saying because of the mild winter, there is plenty of oil and gas in the U.S.A. So supply and demand here should dictate lower prices.

With all due respect, Bill O’Reilly has a fundamental misunderstanding about oil supplies. There is not “plenty of oil and gas in the U.S.A.” He is confused over net exports of oil and net exports of finished products as I will get into below.

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