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Incoherence (Congressional "Inquiry" into Gas Prices)
Power Line ^ | April 1, 2008 | John Hinderaker

Posted on 04/02/2008 4:47:50 AM PDT by Lonesome in Massachussets

Today House Democrats appealed to ignorance, in their usual fashion, by summoning executives from the five biggest oil companies to berate them for high gasoline prices. This is fundamentally stupid in at least two respects.

First, these same Democrats purport to be worried about "global warming" and committed to taking strong measures to combat it. Needless to say, the simplest way to reduce carbon consumption, if you really believe that carbon consumption will cause an environmental disaster, is to increase the price of energy. This is why some honest global warming advocates have argued for huge increases in the gasoline tax. Conversely, if the price of gasoline were to decline as House Democrats said they wanted today, the result would be increased consumption and increased carbon emissions. If the Democrats aren't willing to pay the price to reduce energy consumption (i.e., higher gasoline prices), they should quit yammering about global warming and admit they knew all along that the alarmism was BS.

Second, if you really want the price of gasoline to fall, there is only one way to achieve that goal: increase supply. Yet these very same Democrats have made it difficult, and sometimes impossible, to do so. Had Bill Clinton not vetoed oil development in northern Alaska, enormous amounts of oil would now be flowing to American consumers, reducing the price of gasoline for everyone. Further, as one of the oil executives pointed out today, 85% of our coastline is off-limits to drilling.

In short, pretty much every policy that the Democrats have pursued for the last three decades has contributed to the shortage of oil, and resulting high price of gasoline. For the Democrats to pretend that high prices are the fault of the oil companies--which, unlike the Democrats, actually go to great lengths to bring energy to American consumers--is beyond hypocrisy.


TOPICS: Business/Economy; Government
KEYWORDS: demagoguery; demogogue; hypocrisy
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They left off the elephant in the gas station - ethanol. Admittedly, ethanol is a bipartisan disaster. (The economic effects of ethanol are comparable to those of 9/11, so calling it a disaster is no exaggeration.)

John Stossel pointed out on 20/20 (to Babs Walters' obvious chagrin) that Ronald Reagan saved about $4000 off the cost of the average home by deregulating trucking. This clearly illustrates the huge impact that essentially unnoticed government actions have on the economy. These perverse economic actions are popular with the beneficiaries, (Truckers, in the case of ethanol, farmers and their suppliers) but impose unnecessary costs on the general economy.

Europeans are experiencing improved economic growth precisely because they are adopting Reaganesque (properly Thatcheresque or Friedmanesque) economic reforms that America adopted two decades ago.

Who is our new Reagan?

1 posted on 04/02/2008 4:47:50 AM PDT by Lonesome in Massachussets
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To: Lonesome in Massachussets

This is why some honest global warming advocates have argued for huge increases in the gasoline tax

Well, I do not also want to pay HUGE increases in the price of food.
and shoes.
And ... everything ever transported in America anywhere.

Rank stupidity - American consumption of fuel is not driven by the dynamic of you and I driving around the countryside using gasoline.


2 posted on 04/02/2008 4:53:18 AM PDT by bill1952 (I will vote for McCain if he resigns his Senate seat before this election.)
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To: Lonesome in Massachussets

Why do they need an inquiry? I thought they’d pretty much made up their minds that the oil companies are run by the Devil.


3 posted on 04/02/2008 4:58:07 AM PDT by Brilliant
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To: Brilliant
It's an election year and they are catering to their idiots,errr constituents.
4 posted on 04/02/2008 4:59:51 AM PDT by Farmer Dean (168 grains of instant conflict resolution)
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To: Brilliant

Just more Democrat theater.


5 posted on 04/02/2008 5:00:07 AM PDT by rhombus
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To: bill1952

The “grilling” that I heard on the radio news was simply histrionics, pantomime and stagecraft, by all involved, the Democrats, the Republicans and the Oilmen. Everyone knew his role and said his lines nicely.

It was not an edifying sight or sound.

“It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.”


6 posted on 04/02/2008 5:02:40 AM PDT by Lonesome in Massachussets (The women got the vote and the Nation got Harding.)
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To: Lonesome in Massachussets

If environmentalists truly didn’t badly block all of the still much needed improvements in both North American domestic oil drilling (both on land and off shore) and in the still much needed building of many more oil refineries throughout the U.S. (the last U.S. oil refineries were built in 1976), then the ongoing problems with gas prices here wouldn’t truly exist today.


7 posted on 04/02/2008 5:04:30 AM PDT by johnthebaptistmoore (Vote for conservatives AT ALL POLITICAL LEVELS! Encourage all others to do the same on November 4!)
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To: Lonesome in Massachussets

High gasoline prices are caused partly by global demand and mostly by politicians and environmentalists. The Democrats need to have a villain to distract the public from their failed policies. They have greatly restricted drilling in the U.S and have outlawed it completely in Anwar and in the Gulf. The total federal, state and other taxes on gasoline are about $.40 per gallon. Then the Democrats blame the oil companies to prevent any serious discussion of the problem.


8 posted on 04/02/2008 5:06:27 AM PDT by detective
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To: Lonesome in Massachussets

The audacity and gall of people who live on the public dole from money they confiscated from those who earned it and vote themselves outrageous salary increases, perks and benefits in the dead of night questioning industry leaders whose salaries, perks, benefits and operating procedures are established and supervised by a legally elected and formed Board of Directors is breathtaking.

I never cease to wonder how politicians, particularly LIBERAL politicians, who engage in this despicable conduct can look at their reflection in the mirror.


9 posted on 04/02/2008 5:06:35 AM PDT by DustyMoment (FloriDUH - proud inventors of pregnant/hanging chads and judicide!!)
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To: DustyMoment

Why didn’t these oil execs take the opportunity to point out how stupid and useless government regulation and the idiots who propose it are.
Why can’t I get called to a congressional hearing...


10 posted on 04/02/2008 5:11:41 AM PDT by Shirerwasright (Liberalism continues to erode the foundations of America)
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To: DustyMoment
I never cease to wonder how politicians, particularly LIBERAL politicians, who engage in this despicable conduct can look at their reflection in the mirror.

Not to worry. Judging from reports available to me, they cannot see themselves in a mirror.

11 posted on 04/02/2008 5:12:23 AM PDT by Lonesome in Massachussets (The women got the vote and the Nation got Harding.)
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To: DustyMoment

And don’t forget these same selfless “public servants” passed laws that confiscate 24-48 cents per gallon from “Big Oil” while they legitimately earn 8-14 cents per gallon through competitive operations. Is it Big Govt or Big Oil that is creating value and earning its take?


12 posted on 04/02/2008 5:12:36 AM PDT by ProtectOurFreedom
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To: Shirerwasright

Judging from the little snippets on the news, that is exactly what the oilmen did, on cue.

It’s not an inquiry, it’s “reality television”, without the reality.


13 posted on 04/02/2008 5:14:23 AM PDT by Lonesome in Massachussets (The women got the vote and the Nation got Harding.)
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To: Lonesome in Massachussets

I think Rush said it best. Government, who takes far more in taxes than oil companies make in profit on a gallon of gas, could produce a moratorium on same for a year and see what develops. I didn’t hear anything of the sort. I would suggest a moratorium on government for a year or two. The economy would absolutely explode with cash. Not a chance in open flame.


14 posted on 04/02/2008 5:15:01 AM PDT by wita (truthspeaks@freerepublic.com)
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To: detective
Here's my tip for pumping gas.. Print out a batch of little stickers that read little factoids like this:

Then, put 'em on the pump. Carry a whole sheet with ya.

Someone's bound to read 'em while their fuel bill is passing fifty bucks per fill up.
I've already had 2 FReepers ask me to send them the template for this.
15 posted on 04/02/2008 5:17:48 AM PDT by RandallFlagg (Satisfaction was my sin)
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To: ProtectOurFreedom
And don’t forget these same selfless “public servants” passed laws that confiscate 24-48 cents per gallon from “Big Oil”

They take far more than that, IMHO.
I wonder if someone would have the data per gallon with the fees, import/export taxes, and all of the other $$$ that oil companies have to pay to keep their businesses running. Government's making an absolute killing off of these kind of things.
16 posted on 04/02/2008 5:23:25 AM PDT by RandallFlagg (Satisfaction was my sin)
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To: Lonesome in Massachussets

“It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.”

******

Dems waited in the minority for years, jealous of the hearings being called and chaired by hated Republicans. They finally got the majority they craved, are calling all the hearings that they want, and everyone (who used to watch cspani is totally bored by the kabuki ritual of the whole thing. No one cares because these “hearings” are travesties!

Cspan administrators claim not to count viewership, but I bet they know that their numbers are way down.


17 posted on 04/02/2008 5:24:29 AM PDT by maica (Peace is the Aftermath of Victory)
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To: RandallFlagg

i can’t read the last six postings


18 posted on 04/02/2008 5:27:22 AM PDT by robomatik ((wine plug: renascentvineyards.com cabernet sauvignon, riesling, and merlot))
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To: robomatik

Oh, that was just a screenshot. I’ll make a bigger one so it’ll be legible. One sec..


19 posted on 04/02/2008 5:28:35 AM PDT by RandallFlagg (Satisfaction was my sin)
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To: maica
The Republicans weren't much better at these hearings, from what I could see. I caught most of the Roger Clemens hearings on ESPN at the gym. What a travesty and embarrassment, mostly to Congress and specifically to Conyers. (Did Conyers play Mephistopheles in his college drama club? Sure got the looks for it.)

Republicans can demagogue pret darn good when they want to.

20 posted on 04/02/2008 5:30:06 AM PDT by Lonesome in Massachussets (The women got the vote and the Nation got Harding.)
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