Tuesday, July 29, 2008
Let Them Eat Cake
Investors Business Daily did an editorial on the 'myths of high oil prices.' The title could have been, 'the myth of the democratic talking points.' It is too bad that we have to waste time on such things - dispelling some ridiculous notions such as:
- the oil company executives are driving up prices or
- 'we can't drill our way out of this'
Nancy Pelosi's comments were predictable. The energy situation was created by Bush and the Republicans and "like with everything else, she has had to come in and pick up the pieces."
So, what is she doing to pick up the pieces? Lifting the ban on offshore drilling? Allowing drilling in the shale deposits in the U.S.? Loan guarantees for the construction of nuclear power plants?
As one example, IBD cited a study that concluded that there could be as much as a three hundred year supply of oil in the shale deposits of the United States. I am not an economist, but that has to help pricing !!
In short, Pelosi and company are doing NOTHING !!
Nancy's strategy is consistent with her views of 'America being the problem of the world.' She is doing nothing in the hopes that cars that run on wood pellets and solar energy will replace the gas engines that are on the road today- all within the next few months. She sees little political risk to her plan, she can just blame Bush.
Who is being hurt by high oil prices? It is not Pelosi's well-heeled close friends or political benefactors. Four dollars a gallon for gas and a 40% rise in food prices (driven by burning our food supply for fuel and by high gas prices) is hurting the poor, working and middle class. These are the very people that the Democratic party is 'officially' trying to help.
When Pelosi and her well-to-do California crowd get together for cocktails, you can bet they are not talking about the poor or middle class. They have an agenda, but protecting America, allowing for inexpensive energy and pro-growth economic policies are not on the top of their list.
I am sure the conversation about what they will do when the dems are no longer hamstrung by a Republican president's veto is more along the lines of global-warming, becoming more like Europe, gay marriage, universal health-care, re-distribution of wealth and all the other liberal obsessions that have replaced real issues and have usurped the governance in this country.
When it comes to economic growth or affordable energy, her policy is more consistent with the extreme views of Al Gore than with the needs of Ohio, Michigan or Pennsylvania.
Submitted by D.B. Jackson