Tuesday, March 11, 2008

A "promising" energy editorial

It was republished in the Spokesman-Review this morning. Jack Z. Smith writing for the Fort Worth Star-Telegram
was taking issue with the fact that more and more of our oil use is now under the control of foreign governments. Indeed, we are competing for oil supplies from foreign countries right along with China and etc. Now that oil has skyrocketed to $109.00 a bbl, roughly, seems GW has now started to sound a bit more serious about the need for energy independence. At least enough to send Dick Cheney to Saudi Arabia, maybe suck up for a while to the royalty there and if he can whine and beg enough, to bring down the oil prices just prior to the November elections. According to the paranoid sending e-mails to CNN. As it stands, that roughly $109.00 a bbl isn't doing Senator McCain a whole lot of good when coupled with other economic crises here in this nation.

Speaking of which, apparently someone in the Bush administration got the drift of a foundering economy and immediately put some billions of dollars into the banking system so that they could "lend more money." Which caused the speculators on Wall Street er, I mean investors to shoot the Dow up over 400 points. However, isn't lending part of the crisis behind the mortgage disaster? Bad lending practices and all of that? And what will welfare for banks do to put a halt to predatory credit card practices by various credit card companies? As usual, GW and his administration have an odd sense of priorities. Instead of fueling the flames and trying to keep the economy on an artificial respirator, they should take a look at the domestic policies of the last 8 years of the GW administration itself. Pro-business, pro-global business, pro-doing business with foreign countries that don't have this nation's best interests at heart. The multiples of financial crises that could easily afflict and defeat a McCain candidacy for presidency, which folks such as Ben Bernanke would like to stave off for as long as he can to try to assure a McCain succession to the GW presidency; isn't going to get to the root of the problem: that America is no longer prosperous, is among the world's biggest debtor nations, and the back bone of prosperity in this country, the middle class is suffering very large very massive across the country home foreclosures. So speaking of an administration that engages in a late date trying to apply a bandage to a cancer is why Smith's column is so relevant.

Suddenly, high oil prices are bad if the White House could find a Democrat putting up new drapes by January. GW is responsible for the mess. And McCain isn't likely to clean it up.

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