I too was scratching my head, and yes, I shouted
“WTFFFFFFFFFFFFFFFFFF!”
So according to Obama, a recession will drive down gas prices and a strong economy = high gas prices?
Ummmm. Don’t think so.
Notice CC decided to remain “a fly on the wall” for that one though.
He would be correct. Strong economy equals more demand for fuel equals higher prices. When demand fell like it did in 2008 prices fell. Why did demand fall?
Actually that is the way it works. A weak economy means less demand and a lower price. A strong economy means more demand and a higher price. It's a little distorted because of the cartel OPEC. But it still works. The OPEC members also have enough non-oil investments that they strive to get the highest price they can without tanking the economy.