Posted on 06/23/2007 12:04:45 PM PDT by eth3l
Yesterday the Senate, led by Harry Reid (D-NV) passed an anti-energy bill called Renewable Fuels, Consumer Protection, and Energy Efficiency Act of 2007, that they say is geared towards reducing domestic dependence on foreign oil. The bill however, does not such thing and will have as its main effect, an increase in prices on consumables. Specifically, food, gasoline, automobiles and plastics. The drastic increase in demand for petroleum by developing nations, such as China and India (link) along with the current burdensome restrictions on building new refineries, is the cause for the increase in gasoline prices. It is the simple and natural supply and demand curve of the market.
This bill does nothing to help bring to market affordable energy.
(Excerpt) Read more at gopublius.com ...
“Most of what most people think they know about energy is so very wrong that their convictions, heartfelt though they may be, lie beyond logical contradiction or refutation.” — Richard Feynman
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