Last month, the Democrat-controlled Senate was intent on “doing something” about the high price of fuel. Big oil execs were harangued for the sin of having benefited from high demand for gasoline, and President Bush was prevailed upon to stop stockpiling oil for the Strategic Petroleum Reserve, a move that analysts say will decrease the price of gas by a fraction of a cent.
Fresh off that major victory, in the first week of June, the Senate Democrat leadership tried to pass its “solution” to global warming—a cap and trade scheme that is designed to raise the price of gasoline so that consumers use less of it, thereby emitting fewer greenhouse gases. Economic forecasts predict that the Congress’s cap and trade would have boosted the price of gas anywhere from 40 cents to 2 dollars. Thankfully, the bill was scuttled swiftly.
Now, Senate Democrats are back to bitching about the high price of gas. Yesterday, Senate Majority Leader Harry Reid (D-NV) tried to pass a “windfall profits tax” on those greedy oil companies. Considering that the Congressional Research Service found that a similar “windfall profits tax” enacted in 1980 increased America’s dependence on foreign oil, American voters should think themselves lucky that this misbegotten legislation failed.
What the heck are the Democrats that run Congress trying to do on energy policy? On the one hand, they bemoan the high price of gas. On the other, they sing the praises of a climate policy that is designed to raise the price of gas. How long will they get away with having their cake and eating it, too?












Right on the mark. I look forward to the political debates when it comes to energy policy. The American people will come to grips with the fact that we have to create a significant domestic supply by drilling in places that are currently off limits here, that nuclear is a great option again in spite of high capital costs (see the French after first oil embargo), and that Global Climate change actions being proposed are not affordable and will do nothing if India and China do not also act. (I am glad Myron Ebell introduced me to the CEI website. I met him recently at a conference in VA where he was on a panel.)
Matt LaRocque