Monday, March 21, 2005

The Government Responds

In a week where the government has busied itself with shameless grandstanding on steroids and even more of the same to keep alive a permanently vegetative woman, Terry Schiavo, despite her husband's wishes, we find at least one member of Congress awake. Thanks to Green Car Congress for the link to Rep. Bartlett's testimony before the House on Peak Oil. It's not enough -- not nearly enough -- but it's a start.

Drudge today ran a flash report about Bush having his advisors investigate the possible results of a $4/gal "nightmare scenario"; given these things have a tendency to vanish after a day or two, I quote this in full:

President Bush's inner circle has become preoccupied with soaring gas prices and its toll on the economy, a well-placed White House source said over the weekend.

Bush has quietly asked for a review of any and all economic fallout on the nation if gas prices continuing racing up and over the psychological line of $3 a gallon, as they have in recent weeks in some locations, the source explains.

Bush's top economic advisers have conveyed to the president that a "nightmare" scenario of $4 a gallon is extremely unlikely in the short term.

"The seasonal run-up of gas prices has been tough this year, but like every year in the past two decades, we expect we will will see some easing," the source claims from Washington.


For my part, I expect gasoline prices to exceed $4 this summer in places, the results of which will be severe enough to turn Republicans from office en mass in the midterm elections. Whether that will result in better policies is another matter, because the first thing the Outs are likely to promise on their way to becoming Ins is -- lower gasoline prices. Never mind that's not the principle issue.