What a difference the evaporation of 5 $$$ gasoline and 2 years makes. Obama is President and one of the greenest Presidents we have ever had. McCain is not. Gasoline, though rising, is at 3.25 $$$ a gallon. Electric cars have just rolled out of two car companies, one of which Obama saved through a bailout. The electrics are popular and have waiting lists. The new normal for cars is 40 miles to the gallon. Of course I have the advantage of hindsight but I was pointing out that Obama had the superior energy policy back then so I can crow alittle.
June 19, 2008
McCain Scores With Offshore Drilling Proposal
John McCain has drawn first blood in the political debate following Barack Obama’s victory in the primaries. His call yesterday for offshore oil drilling — and Bush’s decision to press the issue in Congress – puts the Democrats in the position of advocating the wear-your-sweater policies that made Jimmy Carter unpopular.
With gas prices nearing $5, all of the previous shibboleths need to be discarded. Where once voters in swing states like Florida opposed offshore drilling, the high gas prices are prompting them to reconsider. McCain’s argument that even hurricane Katrina did not cause any oil spills from the offshore rigs in the Gulf of Mexico certainly will go far to allay the fears of the average voter.
For decades, Americans have dragged their feet when it comes to switching their cars, leaving their SUVs at home, and backing alternative energy development and new oil drilling. But the recent shock of a massive surge in oil and gasoline prices has awakened the nation from its complaisance. The soaring prices are the equivalent of Pearl Harbor in jolting us out of our trance when it comes to energy.
Suddenly, everything is on the table. Offshore drilling, Alaska drilling, nuclear power, wind, solar, flex-fuel cars, plug-in cars are all increasingly attractive options and John McCain seems alive to the need to go there while Obama is strangely passive. During the Democratic primary, he opposed a gas tax holiday and continues to be against offshore and Alaska drilling and squishy on nuclear power. That leaves turning down your thermostat and walking to work as the Democratic policies.
McCain has also been ratcheting up his attacks on oil speculators. With the total value of trades in oil futures soaring from $13 billion in 2003 to $260 billion today, it is increasingly clear that it is not the supply and demand for oil which is, alone, driving up the price, but it is the supply and demand for oil futures which is stoking the upward movement.
The Saudis have made a fatal mistake in not forcing down the price of oil. We could have gone for decades as their hostage, letting their control over our oil supplies choke us while enriching them. But they got greedy and let the price skyrocket.
Just so we are clear here, the Greedy Saudi’s had nothing to do with the gasoline prices, speculators and greedy refinery owners did. But then they are these guys friends so they couldn’t possibly see that. More tomorrow.