$4.00 per gallon gas (it's already $3.35 and climbing at some places around here) and shortages to boot, are going to lead to a Democratic takeover of Congress this November.
It DOESN'T MATTER how many lessons some Freepers are willing to give us about "free markets". It doesn't matter one whit...
Frankly, with ever-increasing gas prices that literally zoom up overnight, the "truth" becomes useless. What matters more is "public perception".
And right now the perception is that the prices and shortages are due - at least in part - to the greed of the energy producers (look that that Exxon retirement package!), speculators who run rampant and unregulated, and the inability (or unwillingness) of the President and his part to do anything about it.
For example, the current "ethanol imbroglio" could be ended immediately - by an executive order suspending the EPA-mandated ethanol switchover requirements. After the executive order was in place, the Republican-controlled Congress (our side still "controls" Congress, right?) could expedite legislation to restrict or perhaps end outright "botique blends" of gasoline in favor of a few "regional" blends that can be produced more efficiently and cheaply, reducing price-pressure on refinery products and maximizing production "throughput" at our refineries.
My bet is the Congress and President will do nothing as prices zoom up and actual shortages ensue (as they are happening NOW). Of course, President Bush will take a moment to express his "concern" about high gas prices, and then go on to other business (derisive snort).
We'll have $4 a gallon by fall, perhaps higher.
And a Democratic Congress, to boot!
- John
At $75 a barrel now and gas up another 3 cent average it's probably official, Good Luck Republicans Being A Minority Till At Least '08.