[speedgibson] Speed Gibson: Economic Indicators

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Posted by Speed Gibson:
Economic Indicators
http://speedgibson.powerblogs.com/posts/1217653644.shtml


   Congress is in recess for about five weeks. Normally, that's a good
   thing. On balance, it probably still is. But domestic oil production
   needs to be unshackled and soon. As the Allstate man says, even if
   it's not a recession, it sure feels like one, and energy prices have a
   lot to do with that.
   As several on the right have observed, this is a winning issue for
   Republicans. There is no reason to settle for a "[1]Gang of Ten"
   McCain-style compromise. Quite the opposite, go further to get the
   fast-tracking authority around those who abuse our environmental laws
   to delay and deny the investments that lifting the Congressional bans
   would otherwise enable.
   The Democrats will not be idle these five weeks, either. I think what
   they're really stalling about is how to wet their beaks even more as
   part of whatever compromise is reached. Senator Obama has tipped this
   hand a couple of times already, for example.
   Republicans have to be ready, for the Democrats would love to turn the
   tables, with the GOP voting no. On something like nuclear power, it's
   difficult to communicate with the public with understands
   comparatively little of the technology or the business or how it might
   affect their lives.
   With oil and gasoline however, we can point to a couple of numbers
   that the public now understands very well. The price of oil is our
   leading indicator and the price of gasoline is our lagging indicator
   of whatever actions are next taken.
   Those hated speculators will tell us when they think that Democrats
   are serious. Those hated oil companies will charge us less when the
   Republicans (and some courageous Democrats) do what's right for
   America.

References

   1. http://www.looktruenorth.com/prosperity/350-energy/4039-gang-of-10-compromise-on-energy.html