Wednesday, April 2, 2008
The Congress Ain't Too Slick
A Democratic Congress dragged in the executives of five of the major oil companies in an effort to saddle them with the rising cost of gas. The Congress ignored the fact that the oil companies no longer have control of the price and that they would have been more correct if they had called in the commodity futures brokers who actually do control the price of gas. In a typical dog and pony show the Dems called in executives from Exxon Mobil, Chevron Corp, ConocoPhillips, BP Plc and Royal Dutch Shell to answer for high prices. The solution proposed by such oil "experts" as Representative Ed Markey (Mass-D) was to strip the oil companies of $18 Billion in tax breaks to offset their combined $129 Billion in profits. There was no effort to encourage new exploration, or to establish a fuel blend for nationwide use. Instead it was charade designed to shield a Congress from its many mistakes concerning energy policy and shift the blame to the oil companies. The simple fact is that the retail price of gasoline and diesel fuel is controlled by future's brokers around the world who drive the price. If Congress wants to do something serious about fuel prices that is where they should be looking. Their effort to bully oil companies into alternative energy is just another diversion to point Americans away from Congressional policy failures. The New Narrative has written about our failed energy policy, the flaws in using food for fuel and our government's constant interference to stymie the exploration for oil in America. Until our Congress and the various state conservation departments realize that oil will be our main means of fuel for trains, planes and automobiles for another fifty years we will see very little progress in keeping fuel prices low. By the way: A vote for any Democrat is a vote to increase the price of gas and oil. Remember that the next time you fill up on the way to the voting booth this fall.