Friday, May 02, 2008

So what can be done about the price of gas?

There's been a lot of talk about what to do about the price of gas. If you're an idiot (aka - Clinton and McCain), you talk about removing the gas tax (which wouldn't do a heck of a lot).

Of - you could do the things on this list from Dan Froomkin, which boils down to this:

· Develop an exit strategy for Iraq. Fear of continued instability in the Middle East is widely seen as contributing to a 'risk premium' that's driving up crude oil prices.

· Tamp down speculation on the oil-trading exchanges, either by re-regulating the markets, raising interest rates, or both. There is some evidence that avaricious speculators have driven the price way above the levels justified simply by supply and demand conditions.

· Do something about the weak dollar. The dollar's dramatic drop against major currencies directly translates to higher gas prices for Americans. (But strengthening the dollar might require serious deficit reduction.)

· Tap the Strategic Petroleum Reserve.

And then you look at the things Bush *will* do. Plan an end to the war? Uh - no. Regulate the markets? Yeah. Right.

Why won't Bush do these things? Well, then he'd ruin his run as one of the Worst Presidents Ever - and he can't have that, now can he?

No comments: