My Luddite friend was griping about oil speculation; I, of course, blamed it on the gooferment. He queried "Huh?" (No, he’s much more literate. But basically that’s what he meant. It’s more fitting with the label I’ve hung on him.)
The Gooferment encourages speculation and actually is responsible for it.
(1) Ensures it
Every since Carter, we have not had a rational "energy policy". Carter, a Navy nuke engineer, should have, upon the Arab Oil Embargo, set us on a course to nuke power. France gets ~3/4 of its power from nukes. They allow private sector experts to template a few designs and safety controls. ISO900X. And, then you can’t argue it’s not safe. Cite Navy. Cite France.
Our gooferment is going to let Chinese slant drill from Cuba to off-shore Florida for 18 Billion Gallons of oil. But Americans can’t do it without a spill. Cite Louisianna oil rigs in hurricane Katrina — that was a real eco disaster.
ANWAR?
We ain’t build a refinery in thirty years.
(2) Insures it
Where do specs get the capital necessary to speculate. Gooferment insured banks!
(3) Ignores it
Energy isn’t even on anyone’s radar.
(4) Profits by it
Taxes are a percentage of the price. Higher price; higher receipts. Coincidence? I think not.
(5) Corrupted by it
Where do campaign contributions, graft, and lobbyists come from. Those desiring favors. Oil, power companies. Anyone who wants a hand out?
(6) Empowered by it
It puts them in the driver’s seat. With everyone looking for a politician to ‘save’ us from the problem they created.
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