As history has shown, moderators have a very hard time suppressing the urge to insert themselves into a debate. During tonight’s GOP presidential primary debate, NBC’s Lester Holt did just that, when asking Sen. Tim Scott a question on the economy.
WATCH as Holt tries to tell Scott that changes in economic policy don’t have an immediate impact on gas prices, only to quickly get schooled by Scott:
LESTER HOLT: Your time is up but let me just follow up. The idea of pumping gas, of turning on pipelines, that does not put- make gas cheaper that day. I’m talking about: you become president, what can you do specifically to help people feel better about their situation or be better with their situation?
U.S. SEN. TIM SCOTT (R-SC): Well, actually it does, to be honest with you. The way that the economy works is it works on the ability to anticipate excess supply versus the demand. When that happens, confidence drives our prices down because we know there’s going to be a greater surplus. When you allow for those who have the leases to actually start drilling, to start using those leases for more energy excavation, you put our economy in the strongest position and, as a result of that, prices start going down.
Holt tried, he really tried. Take note of the claim. “The idea”, said Holt, of increasing production isn’t enough to decrease prices. Scott folded that premise upon Holt’s head, Inception-like, by correctly pointing out that markets respond to the perception of confidence created by regulatory certainty.
We know this is true because of what happened to the price of gasoline after Election Night, 2020. The record reflects that it began to INCREASE based on the regulatory uncertainty that came with Biden’s election. And it really began to spike after Inauguration Day, 2021, the day he signed the executive order to tighten domestic energy production.
Facts are facts, no matter how much they may be despised by a legacy media anchor trying to insert himself into a presidential primary debate.