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April 26, 2006 [LINK]
Short-sighted oil politics
Aware of the huge political risk of further gasoline price hikes as the midterm elections approach, President Bush has ordered an inquiry into whether oil companies are "gouging" the public with artificially high prices. Will this convince populist skeptics of Corporate America? No, it will only feed their suspicions of a Massive Conspiracy. He also ordered a halt to filling the strategic petroleum reserve so as to make more supplies available to the market. See Washington Post. This move might have a slight downward effect on prices, but the main effect will be the convince Iranians that the President is not really serious about launching a preemptive attack during coming months. If we really were headed for war with Iran, global petroleum markets would be thrown into utter turmoil, which is precisely what the strategic petroleum reserve was designed to offset. The President needs to let the American people know that energy scarcity is the price they have to pay for having had it so easy with cheap imports made in China for the past decade or so. The chickens are coming home to roost, and now we have to compete with the emerging Chinese economic giant for what is left of the Earth's dwindling supplies of hydrocarbons.
Posted (or last updated or commented upon): 26 Apr 2006, 11: 26 PM
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This (or that) year's
blog highlights
January 7, 2006 ~ DeLay gives up majority leader post
January 12, 2006 ~ Alito withstands Dems' "torture"
January 16, 2006 ~ Michelle Bachelet wins in Chile
January 19, 2006 ~ Views on Iran's nuclear ambitions
January 24, 2006 ~ Fallout from Canada's election
January 31, 2006 ~ Second (& third) thoughts on Iran
February 1, 2006 ~ The State of the Union, 2006
February 8, 2006 ~ D.C. Council votes "yes," but...
February 18, 2006 ~ Checks and balances in wartime
February 22, 2006 ~
Neocons & Neolibs: chastened alike
February 28, 2006 ~
The Dubai Ports World uproar
March 14, 2006 ~ New D.C. baseball stadium unveiled
March 24, 2006 ~ In the footsteps of France?
April 7, 2006 ~ Immigration compromise fails
May 16, 2006 ~ Bush militarizes Mexican border
June 6, 2006 ~ Alan Garcia triumphs, once again
June 9, 2006 ~
Zarqawi: The death of a terrorist
July 3, 2006 ~
Election in Mexico: too close to call
July 5, 2006 ~ North Korea goes ballistic
July 28, 2006 ~ Garcia prepares to lead Peru, again
August 4, 2006 ~ Israel invades Hezbolland
September 6, 2006 ~ "Crunchy conservatives": for real?
September 25, 2006 ~ Nationalists thwart conservation
October 3, 2006 ~ Nationals: Year in review
October 29, 2006 ~ Virginia's marriage amendment
November 7, 2006 ~ The people render their verdict
November 8, 2006 ~ Republicans lose big time
November 9, 2006 ~ Allen concedes / Election post-mortem
November 13, 2006 ~ Toward consensus on Iraq?
December 1, 2006 ~ Realism and our goals in Iraq
December 6, 2006 ~ Latin America & U.S. trade policy
December 8, 2006 ~ Iraq Study Group reports
December 22, 2006 ~ Yuletide political roundup
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