S11 EP113: Hour 3 - Even Democrats Think the Gas Tax Holiday Is a Joke

The Erick Erickson Show

Erick Erickson

News, News Commentary

4.5 • 874 Ratings

🗓️ 23 June 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Biden is painted into such a corner over energy policy that even democrats are calling his ‘fixes’ nothing but a gimmick, an update on the bipartisan gun bill making its way thru congress and the left promises violence over abortion.

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Transcript

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0:00.0	Hello there. Welcome. It is Eric Erickson here. The Eric Erickson show. The phone number is 877-973-725 if you would like to be a part of the program. Can we talk about the supply and demand curve?
0:20.8	Let's talk about the supply and demand curve. Let's talk about the supply and demand curve.
0:25.6	The supply and demand curve explains basic economics.
0:31.6	You have supply of a product and demand for that product.
0:35.6	When supply is low and demand is high, the price goes up. When you have
0:44.5	high supply and low demand, the price goes down. And the point is to find the equilibrium
0:52.4	between supply and demand.
0:54.9	It's why price ceilings and price floors don't work.
0:59.7	When you cap rent, for example, you always have a housing shortage because you can't get the supply and demand curve to meet.
1:08.0	You can't find equilibrium in the price. When you have a floor below which
1:15.0	the price can't fall, you never actually get rid of the thing you want to get rid of because the
1:20.6	price can't go down far enough to get rid of it. The supply and demand curve explains a lot of
1:26.7	basic economic problems. It doesn't explain everything, but it explains a lot. You The supply and demand curve explains a lot of basic economic problems. It doesn't explain
1:28.2	everything, but it explains a lot. You have supply and you have demand. When your supply is high
1:35.7	and demand is low, your price falls. When you have supply being low and demand being high, your price rises.
1:47.8	Now, we have a problem in this country with oil.
1:52.3	It's easy to explain on the supply demand curve.
1:56.5	In this country right now, there is a high demand for gasoline. But in this country right now, there is a high demand for gasoline.
2:03.2	But in this country right now, there is an insufficient supply.
2:08.6	On this basic supply and demand curve that dictates that when supply is low and demand is high, prices must rise.
2:21.6	It rises at an equilibrium so that you never run out of the product. It gets to a point, though, where some people can't afford it.
2:27.7	You're not going to run out of the product because the price is so high. Some people are
	...

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