Saturday, April 22, 2006

And on a day where the GOP would be well advised to stay quiet and not do anything that would detract from the McCarthy story, along comes tweedledee and tweedledum, aka Bill Frist and Denny Hastert, to raise allegations that the oil companies are gouging consumers...

Not only do these two bumbling fools risk giving the MSM something else to focus on this weekend, they reveal an amazing (but not surprisingly) weak understanding of economics and market conditions. If the oil companies can arbitrarily raise gas prices in order to enhance their profitability, why wouldn't they have done so when oil was at $40 a barrel, why is it only now that we are (once again) paying $3 a gallon for gas?

If ANYTHING, what these two fools should be doing is calling for Bush to take steps to:

1) expand oil production here in the US (a long term payoff, but one that shows Bush is forward thinking),

2) to release some oil from our national reserves (an immediate payoff, and the oil can be replenished from the new production generated from #1),

3) to cut out the silly ethanol requirements that add to the cost of each gallon (chasing Iowa farm votes is okay at primary time, but right now, screw them),

4) to cut the federal gas tax rate (given the ever increasing amount of gas being sold, the federal treasury will make more money even if the rate was cut, just like Fairfax County can cut its property tax rate, yet still rake in a whole lot more cash) and

5) to relax the environmental rules that both limit the supply and drive up the price of gas (yes, the two go hand in hand). Think about it this way: the GOP ain't getting a whole lot of votes this fall from the anti-car environmental crowd. So why not appeal to those voters who think that saving the environment is nice, but not so nice that they want to be paying $3-$4 a gallon?

That would have been productive. Making the Democrat's claim for them that evil oil companies are responsible for the high price of gas is stupid...