You might remember when all of those "experts" were telling you that "nothing" could be done about the high price of gasoline. This blog told you that demand was dropping; that there was a potential speculative "bubble" in oil; and that all we needed to do was change the PSYCOLOGY in the oil market--NOT by "regulation" but by FEAR (creating a fear in the oil market that if you did not put your oil on the market now, or sell speculative positions NOW, you would not get this high a price later).
Who was right and who was wrong? There was never any doubt. This blog has been proven right again. Oil has dropped to below $115 a barrel, or more than 20% (definition of a "bear market" in the stock market). There is some potential for the "bubble" to really burst, and for the price of oil to collapse--as demand continues to drop and more oil is produced (in places OTHER than the U.S., thanks to Democrats).
Now Republicans will not get much credit for this, BECAUSE they did not take my advice. Too many were out there saying that "nothing could be doone"--until most finally jumped on the drilling bandwagon. The reason Republicans will get SOME credit is that it has become obvious to even the dunces in the populatioin that Democrats do not WANT lower gasoline prices or lower oil prices. Leftist Democrats want us to STOP using gasoline and oil, and a lower price defeats that main objective. There goal is to DECEIVE about that, but the public is finally getting wise. About time.
But think of the CREDIT Republicans would have gotten if they had adopted my advice!!!! Yes, the firset part of that advice was to push drilling and development of our own oil, coal, and nuclear resources--HARD. While McCain has hardly been out front on this, still being reluctant on ANWR, even he has greaducally come around. Meanwhile, the Democrats continue to try to DECEIVE, by suggesting that they might support RESTRICTED additional drilling, as part of a "comprehensive plan"--the DECEPTION being that Nancy Pelosi and Harry Reid have no intention of allowing a real vote on drilling. What a tangled web we weave, when first we practice to deceive!!! Democrats plan to put provisions in any bill that they KNOW Republicans will not accept, such as the ridiculous "windfall profits" tax which would RAISE the price of gasoline just as it is getting cheaper, while falsely accusing Republicans of blocking a bill that "includes more drilling" (when that part is all deception, and so restricted that we would be lucky to get more drilling by the ridiculous 2030 date leftists like to assert). Republicans are winning on this, as they have taken my advice. (No, I am not arrogant enough to believe that Republicans relied on MY advice, although they would be better off if they had.)
Think of how much BETTER a position Republicans would be in now if they had fully taken my advice to be AGGRESSIVE on gasoline and oil. What if President Bush had really annnounced an Executive Order that the Federal Government reduce its consumption of gasoline in non-combat zones by 20% within 30 days? What if Republicans had urged that we UNWIND those stupid "buy high" purchases for the Strategic Oil Reserve, at the same rate they were stupidly purchased in the last 12 months, as gasoline and oil prices rose, but only so long as the oil could be sold for at least $120.00 per barrel. Note that oil is already below that (completely exposing the absurdity of the Democrat willingness to compromise the Strategic Oil Reserve, as Obama advocated, merely to try to manipulate PRICE: a totally POLITICAL stunt that would have compromised national security, and supports McCain's assertion that Obama cares more about winning an election than aobut the security of his country).
Again, howeve, it was not even necessary to adopt my admittedly symbolic unwinding of the MISTAKEN purchases of oil for the Strategic Oil Reserve over the last year, so long as oil prices stayed about $120.00 a barrel. McCain already came out against those continued purchases, and he was right. It was just one step further to sympbolically reverse ONLY the recent, mistaken purchases, and then only if oil prices remained high (buy low and sell high). The point is that this was never even NEEDED. Merely an AGGRESSIVE step of requiring the FEDERAL GOVERNMENT to sacrifice on using gasoline, and challenging state and local governments to do the same, would have given Republicans CREDIT for the present lower prices. I can't help it if Republicans fail to take my good advice.
What do lower oil and gasoline prices mean? Say the "bubble" does burst totally, and oil goes back under $100.00 a barrel? First, it means that "alternative energy" AGAIN becomes unreasonably expensive--an attempt to make us SUFFER fully as much as if oil prices had stayed high. Remember, leftist Democrats do not WANT the suffering to stop, because they WANT high gasoline prices. Their priority is the LEFTIST AGENDA (Nancy "Total Failure" Pelosi: "I am saving the planet"). Lower prices mean that socialist type central planners like good old T. Boone Pickens are exposed as the central planning idiots that they are. What the government needs to do is let the MARKET sort out the alternative energy that WORKS, rather than having the Federal Government try to IMPOSE a probably mistaken idea of the "best" "solution" to our energy needs.
What lower prices give us is TIME--time which we always had available to us if we got AGGRESSIVE in changing the oil market in the ways I suggested. They give us the TIME to develop our own oil, coal and nuclear resources. That means that if we FAIL to develop those resources, because of the Democrats, then the BLAME for future oil pirces is obvious. So long as we press for more SUPPLY, by removing drilling restrictions, we maintain the FEAR that is presently producing lower prices. If oil producers--whether Middle Eastern or big companies--FEAR that they will lose the opportunity to sell at high prices, the oil price will continue to drop. It will drop even as we gain the time necessary to drill, develop other energy resources, and perfect "alternative energy" that is actually ECONOMIC (instead of too expensive, and relying on HUGE government subsidies).
Yes, we could still start aggressive "conservation" BY THE GOVERNMENT--although it is probably too late for the Republicans to get the full credit they could have gotten by following my advice. But the only way to BLOW it now is to follow the Democrats down the disastrous road of NO DRILLING, and more expensive "alternative energy" before the technology is truly competitive.
We are now in a position, with demand dropping, to DRILL our way out of the gasoline price problem in the immediate future (5 to 10 years). If we fail to seize that opportunity, then Democrats deserve full blame. Yes, that WILL "hurt" alternative energy, if the oil price "bubble" bursts. That is why I say Democrats (of the leftist kind) do not WANT lower prices. They want you to continue to SUFFER to advance their own leftist agenda. But it is entirely possible that we can accomplish a bursting of the oil price "bubble", at ENORMOUS savings to the people of the U.S. All we have to do is be aggressive in helping the market to work, rather than trying to impose central planning of "leftist agenda" "solutions".
If we fail to act aggressively to make this so, then we have only ourselves to blame--for letting the leftist Democrats lead us down the leftist road of central planning, economic disaster.