Category Archives: Political Commentary

I’m Sure It’s Just A Coincidence

Another jump in oil prices.

Think it has anything to do with the fact that both presidential candidates favor a hidden tax on energy and oppose expanding domestic oil production?

You know, in the past, when I’ve said that prices in this range are not sustainable, I always assumed that, at least at some point, sanity would reign in Washington. What a dumb assumption.

[Thursday morning update]

Wise words from Lileks:

…there’s hope. An article in the paper last week said that the gyrations in the oil market may indicate that the laws of supply and demand no longer apply. Well, clever us, to live in an age where immutable laws are abolished with ease; no doubt faster-than-light travel is now possible as well. Whenever someone says that the old laws no longer apply, it’s a sure sign that the laws are about to reassert themselves with brutal force.

Three-buck gas by October? Likely.

As Carl notes in comments, even when you know you’re in a bubble, you don’t know when it’s going to pop.

[Update a few minutes later]

Four-dollar gasbags:

Anyone wondering why U.S. energy policy is so dysfunctional need only review Congress’s recent antics. Members have debated ideas ranging from suing OPEC to the Senate’s carbon tax-and-regulation monstrosity, to a windfall profits tax on oil companies, to new punishments for “price gouging” – everything except expanding domestic energy supplies.

Amid $135 oil, it ought to be an easy, bipartisan victory to lift the political restrictions on energy exploration and production. Record-high fuel costs are hitting consumers and business like a huge tax increase. Yet the U.S. remains one of the only countries in the world that chooses as a matter of policy to lock up its natural resources. The Chinese think we’re insane and self-destructive, while the Saudis laugh all the way to the bank.

And unfortunately, both presidential candidates are economic ignorami:

Recent weeks have seen some GOP stirrings on Capitol Hill, but John McCain has so far refused to jettison his green posturings, such as his belief in carbon caps and his animus against offshore development. A good reason for a rethink would be $4 gas. At present, it is charitable to call Mr. McCain’s energy ideas incoherent, and it may cost him the election.

Of course, Obama’s even worse, but even if McCain wins, it will be a lot closer than it need be. And prices will continue to soar. Needlessly.

I’m Sure It’s Just A Coincidence

Another jump in oil prices.

Think it has anything to do with the fact that both presidential candidates favor a hidden tax on energy and oppose expanding domestic oil production?

You know, in the past, when I’ve said that prices in this range are not sustainable, I always assumed that, at least at some point, sanity would reign in Washington. What a dumb assumption.

[Thursday morning update]

Wise words from Lileks:

…there’s hope. An article in the paper last week said that the gyrations in the oil market may indicate that the laws of supply and demand no longer apply. Well, clever us, to live in an age where immutable laws are abolished with ease; no doubt faster-than-light travel is now possible as well. Whenever someone says that the old laws no longer apply, it’s a sure sign that the laws are about to reassert themselves with brutal force.

Three-buck gas by October? Likely.

As Carl notes in comments, even when you know you’re in a bubble, you don’t know when it’s going to pop.

[Update a few minutes later]

Four-dollar gasbags:

Anyone wondering why U.S. energy policy is so dysfunctional need only review Congress’s recent antics. Members have debated ideas ranging from suing OPEC to the Senate’s carbon tax-and-regulation monstrosity, to a windfall profits tax on oil companies, to new punishments for “price gouging” – everything except expanding domestic energy supplies.

Amid $135 oil, it ought to be an easy, bipartisan victory to lift the political restrictions on energy exploration and production. Record-high fuel costs are hitting consumers and business like a huge tax increase. Yet the U.S. remains one of the only countries in the world that chooses as a matter of policy to lock up its natural resources. The Chinese think we’re insane and self-destructive, while the Saudis laugh all the way to the bank.

And unfortunately, both presidential candidates are economic ignorami:

Recent weeks have seen some GOP stirrings on Capitol Hill, but John McCain has so far refused to jettison his green posturings, such as his belief in carbon caps and his animus against offshore development. A good reason for a rethink would be $4 gas. At present, it is charitable to call Mr. McCain’s energy ideas incoherent, and it may cost him the election.

Of course, Obama’s even worse, but even if McCain wins, it will be a lot closer than it need be. And prices will continue to soar. Needlessly.

Weird Racial Chauvinism

Victor Davis Hanson has thoughts on the wrong reasons to support Obama:

Aside from the obvious point that we should not pick our presidents on the basis of whether those in mostly autocratic, non-democratic societies approve, there is something very tribal and racialist about all this chauvinism.

If a white male Christian of European ancestry were suddenly a likely successor to the Mubarak dictatorship, or were next in line to take over the Mugabe kleptocracy, or were stealing Venezuela from Hugo Chavez, or were going to be elected the next leader of South Africa, it would be of less than zero importance to me, and I would hope to other Americans of similar backgrounds. And I think most of us would shudder should an Englishman or Australian say “I just hope your next President is another white male Christian like McCain.” I was in Greece in 1988 when the socialist liberal Greeks went ga-ga over Mike Dukakis solely on the basis on his shared ethnic background and it seemed pretty absurd, especially when many promised they would change their dark view of Reagan’s America if a Greek-American were elected President.

So, one, I don’t see what is so great when a foreigner tells an American journalist that his view of America might change should we elect a person closer to his own perceived racial or religious self-image. Seems instead illiberal, tribal, and retrograde. And two, if Egyptians, Iranians, Congolese, or Bolivians want real changes in their own lives, then they should look to their own autocratic systems, not the United States that can do little to alleviate their mostly self-inflicted miseries other than to continue to shell out hundreds of billions in petrodollars and ever more humanitarian aid.

It’s all about the identity politics. You know, that “new politics” we’ve been hearing so much about.

Never Attribute To Malice

…that which can be accounted for by stupidity and ignorance. I agree with this commenter:

If you were referring to almost any other sitting Senator, I would agree. Boxer, however, may very well believe everything that she said. She’s 18 different ways of stupid.

He’s being unkind. I can think of several other Senators about as bad. Because the bill doesn’t explicitly specify a price, she probably really does believe that it won’t result in a price change, because people like her really do believe that they can, through legislation, outlaw the laws of economics. No doubt she also believes that if Congress were to simply pass a law making gasoline two bucks a gallon, it would work just fine. And I suspect that Joe Lieberman, bless his neoconservative heart, believes it as well.

What’s Wrong With Redneck?

Andrea Mitchell felt compelled to apologize for calling southwest Virginia “real redneck country.”

Well, she’s right, it is. Not that there’s anything wrong with that. I think that what she should be apologizing for (which perhaps she is, obliquely) is the insinuation that that’s a bad thing. While I understand that a lot of southerners take umbrage at the word, it’s really just a synonym for Scots-Irish, and it came over with them from England (and no, it has nothing to do with working in the hot sun). It was a phrase used to describe Presbyterians from northern England, who wore red collars. They were the people who settled Appalachia (and other regions). Eastern Virginia (and Maryland and Delaware) was settled by the so-called Cavaliers of southwest England, who had lost the Civil War to the Roundheads.

I think, though, that in the mind of east (and west) coast media elites like Andrea Mitchell, “redneck” is synonymous with “hillbilly,” which is unquestionably an uncomplimentary term, and why the apology was necessary. It’s also a mark of the cultural ignorance of those same media elite about flyover country.

What’s Wrong With Redneck?

Andrea Mitchell felt compelled to apologize for calling southwest Virginia “real redneck country.”

Well, she’s right, it is. Not that there’s anything wrong with that. I think that what she should be apologizing for (which perhaps she is, obliquely) is the insinuation that that’s a bad thing. While I understand that a lot of southerners take umbrage at the word, it’s really just a synonym for Scots-Irish, and it came over with them from England (and no, it has nothing to do with working in the hot sun). It was a phrase used to describe Presbyterians from northern England, who wore red collars. They were the people who settled Appalachia (and other regions). Eastern Virginia (and Maryland and Delaware) was settled by the so-called Cavaliers of southwest England, who had lost the Civil War to the Roundheads.

I think, though, that in the mind of east (and west) coast media elites like Andrea Mitchell, “redneck” is synonymous with “hillbilly,” which is unquestionably an uncomplimentary term, and why the apology was necessary. It’s also a mark of the cultural ignorance of those same media elite about flyover country.