Check out this exchange, involving Tony Blankley from The Washington Times, Pat Buchanan of MSNBC, and Eleanor Clift of Newsweek, from last week’s McLaughlin Group about President Bush’s call for people to conserve gasoline in their daily activities:
MR. BLANKLEY: Let me make a quick point. Free-market prices maintain equilibrium of supply and demand. Let the price go up. People will make individual decisions.
MR. MCLAUGHLIN: Right.
MR. BLANKLEY: And they will cut back. They did when the prices went up. Some did; some didn’t. The idea of hortatory calls for conservation never work.
MR. BUCHANAN: John, they are all buying Eleanor Clift Priuses and they’re not buying my Navigators anymore.
MS. CLIFT: Right. (Laughs.)
MR. BUCHANAN: The market is working. People will not drive when the price goes up —
MR. MCLAUGHLIN: So you agree —
MR. BUCHANAN: — but they’ll put investment and money into oil.