The Thing about Gas Prices

Okay, its like this. Today, whenever anyone mentions higher gas prices, a shill for the administration or the McCain campaign (that means any Republican talking head) goes into this lengthy rant about how oil prices are the result of market speculation and increased usage in India and China. In the process they give no weight to the effects of a prolonged middle east war that has not yeilded the increases in production and availability of oil to the world market that was promised at the outset of the Iraqi invasion ( does anyone remember the claims that il revenues would pay for the war and reconstruction?). The war has a direct influence on market speculation.

The right also ignores the obvious and continuing opportunity that our congress has to close the market speculators loophole (Enron Loophole) that allows energy companies to make money off speculation.

In the 2000 election, GW Bush and Dick Cheney criticized the Clinton Administration for its refusal to open the strategic reserves to the US market in order to provide summer relief from - what they called 'ridiculously high'- gas prices of about $1.70/gallon. Yet today, their administration refuses to even consider suspending new deposits into reserve each week.
If $1.70 a gallon was ridiculously high- what is $4/gal? Why do they refuse to do what they challenged Bill Clinton to do in 2000?

But hypocracy is not a trait held exclusively on the right. The lefties in congress could do better too.

Suppose Congress got together today with a bill to return the national speed limit to 55 mph. They could use the same rationale offered when this was done by Nixon in the 70's (environmental concerns- increased mpg/vehicle by changing behavior). I would also add a stiff penalty for violators and use that money for federal road improvement.

Next Congress should work aggressively to pass a bill to close the Enron Loophole- granted it would be vetoed by the Oilman, but it would cause both sides to show their hands.

Tax incentives should be extended for alternative fuel vehicle and hybrid purchase. Similar incentives should be offered for the development of same- including development of any passenger vehicle that can demonstrate mpg on the + side of 50 mpg in real world conditions.

And- as long as we are dreaming- suppose Congress pretended that they actually exist to govern and not simply to get reelected. Might they then actually work together to find solutions to our problems- particularly in matters like reduction of oil dependency.

If the likes of Joe Scarborrough can say that Jimmy Carter was right on this issue- wouldn't you think our elected officials could pretend they share a common purpose?