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President Deserves Credit for Lower Oil Prices

Market Watch reported here that oil prices dropped over $15 a barrel in July, the largest one month drop ever. While many analyst are crediting weaker demand and increasing inventories for the decline, it seems to me that a lot of the credit should go to President Bush.  In my post on July 15th, I noted that the day after the President revoked the executive order against off-shore drilling, crude prices dropped about $8 dollars a barrel. He didn't stop there.  He turned up the heat on the Democrats in the days following, using the bully-pulpit to blast them for their obstinate inaction.  The pressure become intense enough that Senate Majority Leader Harry Reid finally offered a bill to expand drilling and Democrat Presidential nominee and messiah, Senator Obama, flipped on the issue, announcing he would support a compromise that would allow more drilling.  The only remaining obstacle to a sensible short-term energy policy is the honorable Speaker of the House Nancy Pelosi who has convinced herself that she is saving the planet. I seriously doubt that she can find the bathroom in her own office without help from her legislative staff, so the woman is clearly deluded as usual. It will be interesting to see how well she holds up in the face of the revolt that will erupt when the members of her party slink back to Washington after five weeks of listening angry voters back home.

Congress has done precious little to help the gas price situation.  In contrast, the efforts of the President have done a lot to drive the price declines we have seen in the last two weeks and he deserves some credit for it.
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That Scary Senator Obama

This article, ( http://www.breitbart.com/article.php?id=D928S7080&show_article=1), reports Barack Obama’s, warning that John McCain and the evil Republicans are tying to scare Americans.  I thought this was an odd claim.  Based on my own reaction, whenever I hear the anointed one speak, I assume that scaring the bejeebers, (whatever a bejeeber is), out of Americans was his reason for being.  I thought about why fear grips my heart tighter than the skin on Nancy Pelosi’s forehead whenever I hear the benevolent one speak.  Here are three reasons.

First, you don’t have to listen to the blessed Barack long before he spins off a list of a dozen or more problems he is going to solve for the people of America.  Unfortunately, they are usually all problems that any self-respecting person would take care of themselves instead of asking their neighbors to pay for it.  You wonder what he is going to propose next--a federal program to clean out our garages and wash our cars?  The scary part here is that I am gainfully employed and will probably get stuck with the bill.  He is buying votes with my money.

Second, it is clearly evident that how an economy works is a closed book for the generous and gracious one.  He doesn’t have a clue.  For proof, one need look no further than his ideas, (using that term very loosely), on solving the problem of gas prices.  In a nutshell, he would tax oil companies more, hand out another useless stimulus payment, and encourage us to inflate our tires.  Not the sort of world-class economic thought that inspires much confidence.  It is the sort of thought that should inspire fear in Americans. 

Finally,  I understand that the Democrat Party has problems with Presidential nominees.  Examples such as Kerry, Gore, Clinton and Carter immediately come to mind. The difference between them, (with the probable exception of Carter), and Barack “the one” Obama is that with the others, it was a safe bet that their Presidency may mess things up for a time, but they probably would not be an unmitigated disaster.  Electing Obama on the other hand is sort of like putting a tenderfoot Boy Scout in charge of the Strategic Air Command, an analogy that breaks down because the Boy Scout is likely to do a better job. The scary part here is that our political system is so badly flawed that a major political party actually chose this vacuous and pathetic Chicago political hack as the guy they think ought to run our country, and it seems that at least half of the electorate, for the moment, are buying into it.   

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Pelosi's Hostages

The Honorable House Speaker Nancy Pelosi and her accomplice, Harry Reid continue to hold US domestic oil supplies hostage in a effort to accomplish God only know what. It is probably a cynical political game typical of Democrats. They happily trade the economic well-being of 300 million Americans with their pathetic energy policy, in order to gain a little more power.

It will probably be a little harder for them to hold out however. The President revoked the executive order banning offshore drilling yesterday and today oil prices dropped $8 per barrel. It is a little too early to see if there is a connection and if the effect will last. The bright side is that it should give poor Nancy and Harry a restless night thinking about the political consequences of their economic war on America.

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