Re: Hillary Clinton's proposal
by
Polmanic
05/09/2008, 10:57 PM #
You sound just as naive as Noah on the OPEC busting exercise. Where do I start..and I'll try to keep this brief.
To begin where was Hillary's "layered" policy response to high gas prices all these years as a member of the senate? And why is it that successive US govts. of either stripe have not tried to unleash the Justice Dept. onto those dastardly sheiks and princes. Here's a hint...as with China today, the Saudis et al are holding "tons" of US paper (ie dollars, bonds, tbills). Imagine what would happen if they decided tomorrow to choose the Euro over the greenback as their currency of preference (btw Saddam may well have been deposed because he was countenancing this very idea around 2000). Did you also know that most of the oil consumed by the US comes from Mexico, Canada and Venezuela and of course own production. The first 2 are NOT members of OPEC. This is the world price of oil now essentially set by speculators and traders and NOT by OPEC which essentially can only have an effect on price by monkeying around with their portion of the supply. Russia today is probably in the top 4 producers of crude and is NOT a member of OPEC...but yet also enjoy the largesse of the high price of the product. So, what are we all to do....sic the Justice Dept. onto all of these producers? I think you are fantasizing about the legal and practical reach of the US govt. in todays global economy as well as the current condition of our own fiscal house. They'll just laugh you out of the room. Why do you think George Bush panders (that word again) to the Chinese so much. Because he likes them? Or holds hands with the King of Saudi Arabia?
I went further than I promised but I hope I was able to demonstrate that the so called policy wonk you seemingly support is either a political panderer (confirmed with her gas tax recommendation) or terribly misinformed/naive. No wonder she attracts the demographic she is so proud of. And its not their fault. It's the leadership who have manipulated them who deserve to be at least ridiculed..