http://www.energybulletin.net/44675.htmlAs gasoline prices go higher and higher and as the polls show voters more and more concerned about how they are going to fill their tanks, the Congress is starting to stir.
Now mind you, they have passed a couple of major energy bills in the last few years, but these of course were drafted in the accustomed manner. Hoards of lobbyists from oil, coal, Detroit, agriculture and even a few environmentalists were on hand at every stage to ensure that no serious damage was inflicted on the status quo. The major result from years of hearings, horse trading and administration threats were bills that redirected a significant portion of our food supply into our gas tanks and put meaningful conservation measures so far down the pike that they are completely irrelevant to what is about to happen.
In recent weeks, efforts to treat the symptom (high gas prices) rather than the underlying problem (oil production no longer keeping up with global demand) have become more and more bizarre. We naturally have had proposals to cut taxes -- by pennies at a time when prices seem destined to go up by dollars -- and actually passed a bill to stop loading a few miserable barrels (about a tenth of a percent of daily world consumption) into our strategic reserve. Then we have had bills to drill for oil everywhere and, my favorite, the one to sue OPEC for not sending us cheaper oil. In recent days, we have had bills to punish the Saudis by not selling them guns if they don’t send us enough oil and to restrict futures trading on the grounds that evil speculators alone are responsible for the unaffordable gasoline prices. All this says the Congress, in the main, is detached from reality.