File under: Another Reason to Laugh at Bill O’Reilly: he doesn’t understand basic market economics.
Big Bad Bill on “the price of a gallon of gasoline”:
Every time I ask who sets the price I get “the market”, “the Merc”, “OPEC”, and on and on. Well it’s all B.S. Somebody tells your local gas station owner exactly what to charge. Somebody does that.
Um. Well, no.
(Via Hit & Run.)
I'm Newley Purnell, an American journalist in Bangkok. I report for Bloomberg BNA, ABC News Radio, The Chronicle of Higher Education, and more.