Democrat Gwyn Green, Poster Child for Economic Illiteracy, Strikes Again

Liberal Democrat Rep. Gwyn Green, whose state house district covers part of Denver’s western suburbs, is a poster child for economic illiteracy. This fact has only been reconfirmed today by a Face The State report on her ill-informed but zealous refusal to attend a party sponsored by the Colorado Oil and Gas Association:

“I see no point in attending the COGA Conference,” she wrote. “Your announcement does not indicate any desire to moderate the ungodly profits the oil and gas companies are reaping at the costs for [sic] consumers.”

Of course, the report goes on to explain her fallacy:

According to the American Petroleum Institute, statistics through the first quarter of 2008 show that, on average, only 7.4 percent of each dollar paid at the pump is realized as profit by oil companies. Seventy percent of the per-gallon price is attributable to the cost of crude oil, with 13 percent paid in taxes.

But here’s the proof she hasn’t come close to learning her lesson from before:

Green said Tuesday she is interested in reintroducing legislation similar to House Bill 1251, vetoed by Gov. Bill Owens in 2006, to address alleged “price gouging” at retail gasoline stations. But that bill would have applied only during times of “emergency,” and only covered retail gasoline sales, not production.

Once upon a time, Rocky Mountain News editor Vince Carroll demolished Gwyn Green’s economically illiterate attempt to impose oil and gas shortages on the unsuspecting consumers she represents. You know what the real sad part is, though? The Republicans can’t find a strong, credible business-minded candidate to take on Green. How hard should that be in a state like Colorado?

Sigh….

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