The cost of opposition politics ...

I just filled up at $3.60 a gallon ... brutal.

In 2006 the Democrat party promised a new, comprehensive energy policy if they were given control of Congress. Well, they own both houses ... where is it? I think we are all on board with the energy policy I layed down in broad strokes yesterday: domestic drilling, Russian crude, new refineries, nuclear plants, and a moon shot alternative "fuel race" (versus a space race). And no, the president hasn't got much done on energy either. However, he has put forth plans, especially in the domestic drilling arena, that got shot down by the congress, with no alternative plan from those same shooters ... opposition politics.

Bush again takes the lead and holds a press conference (rare for this president) yesterday in which he lays down energy initiatives he would like to see action on in congress. Chuck Schumer (D) NY holds a press conference within 5 minutes after Bush's to oppose Bush's comments and rips him on ANWAR, with no alternative other then Americans should conserve. It's Carter's plan of "wearing a sweater indoors" all over again ... opposition politics.

Doesn't anyone in D.C. witha "D" after his or her name realize that the cost of a barrel of oil is driven by futures. Speculators gauge what it will be worth tomorrow, and that sets the price for today. It is my contention that were the world's remaining superpower to come out with a detailed, comprehensive energy plan - 2/3rds of which involve energy from sources other then oil, that the future's markets would begin to drive down the price of crude the very next day. So even though these plans will take years to actually be online, the proactive action of just initiating the plan will drive down the cost of fuel today. And what's standing in the way? ... yep, the opposition politics.

This thing is going to hit 5 or 6 bucks a gallon sooner or later, and that 6/10 of 1% growth we had for the last quarter (in #'s released today), will seem like the gilded age in comparison.