I've repeatedly said that Harry Reid is the most delusional leader that the House or Senate have ever seen. After reading this article in the Hill Magazine, I'm forced to rethink that. It's possible that Nancy Pelosi may have eclipsed Sen. Reid. Here's what I'm basing that opinion on:
House Speaker Nancy Pelosi (D-CA) on Thursday shut the door on expanding oil and gas drilling beyond areas that have already been approved for energy exploration, drawing a clear distinction from her counterparts in charge of the Senate. “This call for drilling in areas that are protected is a hoax, it’s an absolute hoax on the part of the Republicans and this administration” Pelosi said at her weekly press conference. “It’s a decoy to punt your attention away from the fact that their policies have produced $4-a-gallon gasoline.” Pelosi’s stand may put her at odds with a growing number of members of the Democratic Caucus who have been moving toward possible compromises with Republicans on ways to expand domestic energy production. Senate Majority Leader Harry Reid (D-NV) on Wednesday told reporters that expanded offshore drilling is not off the table, and that Democrats will take a look at whether states should be able to choose to drill off their coasts. “I’m not knee-jerk-opposed to anything,” Reid said.Reid's signalling that he's open to increasing exploration, though I suspect that that's because he knows that Pelosi will stop the bill in the House.
When Ms. Pelosi says that drilling is a hoax, how does she explain the cuban Economic Zone?
As the article points out, Ms. Pelosi is giving vulnerable Democrats reason to worry. They're finding out that doing nothing isn't playing well with their constituents. Vulnerable Democrats are thinking that this issue will sink them if they're seen as doing little or nothing to bring prices down.
Ms. Pelsoi apparently thinks that holding symbolic votes on non-energy energy plans is enough to placate the public. She's wrong about that. The only thing that'll satisfy consumers is if production is increased. Consumers know that that's the only thing that'll bring prices down quickly.
I'd further point out that it isn't this administration that's had trouble keeping prices down. Look at this chart of retail gas prices:
According to this graphic, gas cost between $2.30-2.40 a gallon when Pelosi took over. It also shows that it's jumped to $4.10 a gallon. Here's another piece of information that's worth noting:
WASHINGTON — The average U.S. retail price of unleaded regular gasoline fell sharply last week, dropping more than 12 cents to $2.60 a gallon, the Energy Information Administration (search) said Monday.What this tells us is that gas prices experienced some fluctuations related to Katrina and Rita but that they were relatively stable throughout 2005. Compare that with prices shooting up from $2.90-something a gallon in March, 2008 to $4.10 a gallon 4 months later.The national pump price has tumbled some 32 cents in the past three weeks, but still remains 57 cents a gallon higher than one year ago, according to the EIA's weekly survey of U.S. service stations.
The drop reflects falling crude oil prices and a decline in gasoline demand as American motorists balked at paying record high prices in September after two hurricanes disrupted supplies.
U.S. crude oil futures ended at $60.32 a barrel Monday, down more than $10 from a peak in late August.
However, diesel fuel prices paid at retail stations rose by nearly a penny to an average $3.16 per gallon, according to the weekly EIA survey. The price remains 95 cents a gallon higher than one year ago.
Energy industry analysts are closely watching oil data to assess if the downturn in use is temporary or represents "demand destruction," in which high prices trigger longer-lasting changes in oil use by consumers and businesses. The American Petroleum Institute (search) said last week that sharply higher prices in September cut U.S. gasoline demand by nearly 4 percent.
I find it just a bit too coincidental that that spike was during the Democrats' watch.
