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$4 Gas

July 13, 2008

Congress is not likely to approve any meaningful energy-related legislation this summer, even as motorists begin to wonder whether $4 a gallon gasoline soon may be a fond memory - not to mention the $5-$7 a gallon gas predictions by the end of 2010.


Analysts say part of the reason involves political posturing in advance of the November elections. Both liberals and conservatives want to be seen as doing something about energy prices - but neither side is willing to abandon its cherished positions.

Those positions are that conservatives, in general, support a multi-pronged approach to energy. They agree that alternative fuels should be developed and that conservation may help blunt fuel price increases. But they also want to approved drilling for oil and gas in offshore areas now off-limits, and in the Arctic National Wildlife Refuge.

Some powerful liberals, meanwhile, insist that conservation and alternative fuels are the only tools America needs in its energy policy.

That's crazy. No matter what new energy measures are approved by Congress, they will have little effect on prices for several years.

Stonewalling those who want to obtain new domestic supplies of oil and gas in an environmentally responsible manner will virtually guarantee that OPEC remains able to increase fuel prices at will.



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