On Wednesday's The Situation Room, CNN's Jack Cafferty suggested that blame for high oil prices rests not only with Bush administration policies, but also with its "relationship with the oil companies." During a discussion of John McCain and President Bush's recent meeting, Cafferty, who once pushed the liberal conspiracy theory that Big Oil deliberately lowered gas prices before the 2006 elections to help Republicans get elected, once again demonstrated his lack of understanding of the world oil market as he suggested that a "relationship" with oil companies could impact world oil prices: "Oil was $28 a barrel when George Bush was sworn in. It's $104 right now and could go to $120 soon. Now, why do you suppose that is? It wouldn't have to do with the policies of the Bush administration or the relationship they have with the oil companies, would it? Come on." (Transcript follows)
On the August 31, 2006 The Situation Room, in response to a report predicting that gas prices were on a downward trend because of the end of the summer driving season, Cafferty similarly voiced a liberal conspiracy theory: "You know, if you were a real cynic, you could also wonder if the oil companies might not be pulling the price of gas down to help the Republicans get re-elected in the midterm elections a couple of months away. ... The interesting thing to watch on that story about gas prices is what happens to them right after the midterms."
Below is a transcript of the relevant portion of the Wednesday March 5 The Situation Room on CNN:
JACK CAFFERTY: And wait until the economy gets a little worse -- and it will in the next three or four months -- and we wind up in a good deep recession about late summer. McCain's going to have a lot of work to do.
WOLF BLITZER: Well, can he disassociate himself, distance himself from the President?
CAFFERTY: I don't know. Oil was $28 a barrel when George Bush was sworn in. It's $104 right now and could go to $120 soon. Now, why do you suppose that is? It wouldn't have to do with the policies of the Bush administration or the relationship they have with the oil companies, would it? Come on.