Friday, December 19, 2008

It’s the Oil Stupid

So here we are in yet another crisis – this one economic. As usual, our government is focusing on what they think we think is the obvious problem in an effort to get re-elected in 2010 – not to fix the actual problem long-term, which is what we pay these dolts for. McCain lost the election because he injected unsuccessful drama into the situation, halting his campaign, flying back to Washington, and voting for the pork that he promised to make people famous for. On top of that, the bill ultimately failed.

Now we have to fix the car companies. While it is true that government regulation had a role in their failure, are we really stupid enough to believe that these same idiots can undo the damage they have done. Additionally, the car companies and their UAW counterparts are not blameless. They have acted as an arrogant monopoly in America since the 1950s, were completely caught by surprise by competition, and stubbornly failed to adjust. They might as well be members of Congress themselves. Congress should have an independent auditor evaluate the damage they have done to the car companies, pay it, and move on. The rest is the car companies’ problem – not mine.

Add to that the recent revelation that we have actually been in recession for about a year now, and we should all see that these recent crises are not causes, but symptoms. Of what? To paraphrase Bill Clinton – IT’S THE OIL, STUPID! The big oil price run-up started in early 2008 and the beginning of the recession followed shortly thereafter. Duh! It’s happened before, it’s happening now, and thanks to our short-sighted Congress, it will happen again.

Fixing the oil problem is the key to economic stability – stability that will allow us to address other problems, such as national security, social security, health care, and crime. Obama has this one right. We need to invest and successfully develop alternative energy sources now, while the price of oil is low, without waiting for economic recovery, and the resulting re-spiking of oil prices. He campaigned on it; he should make sure it happens. All else depends on it. I repeat:

IT’S THE OIL STUPID


It always has been, and it always will be until we change it.