Monday, July 21, 2008

Ghost of Enron?

John McCain has a new campaign ad attempting to tie high gas prices to Barack Obama. This is thin ice for McCain - as reported today on MS-NBC, during his three decades of "work" in the US Senate, his Energy Voting record includes voting AGAINST production from new oil wells in the US being earmarked exclusively for US Markets.

Did I lose you? That is, John McCain COULD NOT SUPPORT legislation to save US Oil from US Lands for US People. Hmmm.

Oh, McCain did also have the distinction of voting against numerous alternative energy initiatives. (Now, he didn't bother to vote AT ALL on the latest GI Bill, but that's another blog.)

So, as I say, trying to attribute blame to Obama ... that is a stretch but, well, maybe they think their supports won't really, well ... realize?

So, where can we attribute some blame for this ballooning oil price trend? Well, of course, there is the demand thing - rising ever, rising globally. But, there is also some overhang from legislative action pushed by (yup) Gramm and Co. (see previous post). Here's an overview -



That's all I have time for on this Oil thing today - there's just too much more to talk about. For example, this (77,000 petition signatures and counting as of 7/21/2008).



- JT

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