Cramer calls out OPEC conspiracy

Killing alternative energy

Today on the Lightning Round of Jim Cramer's Mad Money, a caller questioned Cramer about solar plays under Obama. Cramer essentially responded that cheap gas is killing solar power and stated that OPEC had helped push oil prices lower to help offset interest in alternative energy.

Obviously, there are many out there espousing similar beliefs, but not many with the pulpit and Street cred of Cramer. While some consider Cramer a crackpot, it's still a pretty interesting statement.

Give the Big 3 a break, Take 2

How serious are we about ending foreign oil dependency

President Elect Barack Obama made a lot of strong statements during his Presidential campaign about energy security and green jobs, even touting $150 billion over 10 years to develop the green economy.

$150 billion will help, but it's a drop in the bucket needed for an energy revolution.

Not long ago, Al Gore suggested it would take $400 billion to develop a new, national smart grid - the kind of grid many experts claim is necessary for the widespread adoption of electric vehicles. Perhaps a company such as Better Place can alleviate the need for a such a super grid for EVs, but that's a different story.

Then, we need the electric vehicles, vehicles that are going to cost far more than conventional vehicles for many, many years. Finish: Give the Big 3 a break, Take 2

Autos: Let the new world order begin

Everything soon as efficient as the Prius?

By 2020, if all goes well, the average fleet-wide fuel economy of the US fleet will be 35 mpg, a far cry from the fuel efficiency required to end foreign oil dependency. On the upside, there could be more than a million plug-in vehicles on the road by 2020.

Unfortunately, even if automakers are selling 1 million plug-ins per year in the US by 2020, probably an aggressive number, that would still represent significantly less than 10 percent of total yearly US auto sales, and we'll still be very dependent upon Persian Gulf oil.

Yet, achieving that million EV mark is going to cost many, many billions in government tax incentives. Even then, most automakers will make little profit off these vehicles. In fact, the move towards fuel economy is probably going to mean that total US auto sales per year will decline, even significantly.

Sadly, getting serious about fuel economy probably means significant job loss, not gain - at least in the US.

Is Congress even considering these issues as they ponder the legitimacy of the Big 3's plans for the future? We'll soon find out, but one thing is certain: bailing America out of its foreign oil dependency will cost far, far, far more than US automakers are seeking in loans.

F Congress: Give automakers the money

Or do I mean F America?

Congress is in a tough spot. The majority of Americans don't want Congress to help the US auto industry, despite the fact that all of the Big 3's competitors receive heavy subsidies from their governments.

I understand. For decades the Big 3 built a lot of crap and, even after 9/11, they still didn't react to fuel economy. Profit was more important than national security.

Nonetheless, Congress has to give automakers the money and, we the people, should accept that because we the people are also responsible for the state of the US auto industry. We bought the gas-guzzlers. We demanded that gas stay cheap. We voted for politicians that made gas taxes and increased fuel economy standards dirty word for decades.

I know. None of that justifies the failures of the Big 3, whom helped brainwash the people into gas-guzzling stupidity. And, I know most Americans want the corporate big wigs of America, including those from Detroit, to suffer. Yet, it will be average Americans - all over America - that will suffer most if Detroit goes under. Now is not the time to seek revenge, it's time to turn a wrong into a right.

Bail out automakers to save the Chevy Volt? Part II

I still love the Volt, but it's time for some reality

On Monday, after reading some stories supporting a US automaker bailout to save the Chevy Volt, I slammed the suggestion (more). It's not that I don't believe in the viability of the Volt, it's that I don't believe the Volt is the critical piece of this discussion.

After watching the CEO's of the Big 3 testify before Congress Tuesday, I believe that even more. Both Ford and GM insisted that the new CAFE requirements - 35 mpg by 2020 - were the absolute most achievable limit. Any new strings for the bailout, they argued, should not include higher fuel economy standards.

Hence, by 2020, most US-made vehicles will still be conventional vehicles - though conventional vehicles with direct injection and other technologies that will increase fuel economy - not vehicles like the Volt.

More important, while 35 mpg fleet fuel economy means foreign oil dependency from the Persian Gulf will be reduced by half, America will still be terribly dependent upon foreign oil in 2020. This reality, not the Volt, should be the focus of the bailout talks.

Why can't automakers help end foreign oil dependency by 2020? If EVs and hybrid cars can't get us there be 2020, what other technologies, fuels, etc. can get us there? Can cellulosic ethanol be significantly increased in the next 10 years? Can natural gas help? Something else?

The US auto industry needs government help, and I'm inclined to help. However, if the government and US tax payers are going to partner with the US auto industry to achieve success, why not strive for revolutionary success?

Re: Why Americans hate Detroit

The icon of American stupidity

Was it intelligent or morally ethical for GM to develop the Hummer brand as it was dismantling the EV1 program?

Of course not. It was asinine to anyone that cared about foreign oil dependency or the environment. Unfortunately, at the time GM rolled out the Hummer instead of the EV1, MOST Americans didn't care about either global warming or the environment.

So, GM followed the American ideal - "Show me the money."

Today, Republicans in Congress are aghast at the idea of an automaker bailout. Yet, I bet most of them drive gas-guzzlers.

There is no doubt the Big 3 have demonstrated little leadership in fighting global warming and foreign oil dependency, and Americans hate that because it's a reminder of how stupid most American consumers have been acting. Blaming it all on the Big 3 while that big gas hog sits in the driveway is so much more convenient.

Gas prices - Why strings MUST be attached to any bailout

Detroit still far behind the Prius

Pop open the bubbly, ladies and gentlemen, it's party time. In 4 states gas has fallen below $2.00 per gallon. On Wall Street, the overwhelming consensus is $50 oil before $65.

But, is that a good thing?

When gas was $2.00 US automakers laughed at the Toyota Prius. Today, the Prius has already sold more than 1,000,000 Prius hybrid cars, yet there won't be one US made Prius-contender on the road until late 2010 with the Chevy Volt. Moreover, GM probably won't be selling the 100,000 Volts per year until at least 2014.

Fortunately, if gas prices remain low, America's gas-guzzling will decline thanks to CAFE, but CAFE regulations won't be strong enough to end foreign oil dependency. Unfortunately, as history as proven, US automakers will simply do as much as needed to achieve CAFE, and when foreign oil dependency again rears its ugly head, America will again be unprepared.

Thus, a bailout must include strings.

Bailout BS: Fixing the US auto sector in 3 easy steps

Tough love for Big 3 includes giving the Prius some credit

I've had enough automaker bailout talk. Let's be frank, US automakers deserve bankruptcy. Yes, in the last few years, automakers have made many important changes, but a few years doesn't rectify decades of bad decisions and unreliable automobiles. Of course, most US auto consumers need to have their gas-guzzlers repossessed as well.

Yet, what good would this destruction create? 10,000 new Tesla employees? Less foreign oil dependency? The end of CO2 emissions from autos?

No. So, here's what Congress should do in 3 simple steps. 1.) Bailout US automakers enough so that they can survive another 3 years. 2.) Add unlimited consumer tax credits through 2015 for hybrid vehicles, EVs, natural gas cars, and any vehicle that can achieve at least 35 mpg on the EPA's city - NOT HIGHWAY -cycle, and 3.) Create a scalable gas tax immediately. This puts a bottom on oil prices, funds the tax credits, and sends a message - more transparent than Congressional regulation - to automakers that gas-guzzling is dead.

Canada afraid Obama serious about ending foreign oil dependency?

Oh so green, Canada?

For years the US has been the big anti-environmentalist bully on the block, choosing to ignore Kyoto, for instance, to protect our economy. With President Elect Barack Obama preparing to take over the White House, some of our critics are now worried we might fight foreign oil dependency and global warming a little to quickly.

Canada, one of our drug dealers - I mean oil suppliers - is afraid that an Obama Presidency could hurt Canada's oil sands projects - and the Canadian economy. Isn't that ironic?

Source: GlobeandMail

Don't buy a hybrid! Share a hybrid

Hybrid car sharing

WeCar, is the new car sharing division of Enterprise. It doesn't reinvent car sharing, although it does use only hybrid cars in its fleet, which is pretty cool. Still, this whole car sharing thing really has me intrigued.

Foreign oil dependency. Global warming. High fuel prices. Financial crisis. Are more expensive hybrid cars and electric vehicles really the answer? Instead of just replacing our 13 million per year fleet of vehicles, why not less vehicles? Isn't it gluttonous consumerism, not just gas-guzzlers, that is really strangling America?

Bikes, scooters, tiny one-person microcars, and public transportation might not offer much bling for consumers, but for daily commuting, such forms of transportation are far more efficient, cost effective and environmentally friendly than a plug-in Prius or a Chevy Volt. And all of these approaches can be supplemented with car sharing.

Instead of buying a Volt, might not the future be a better time to share a Volt?

Can Democrats clean and green the US auto industry?

America's freedom fighter?

On the NYSE floor, an Obama win has already been priced into stocks, and there is a belief that an Obama win, coupled with a filibuster-proof Democratic majority in Congress, will lead to 'new deal' style projects and bailouts, such as the one needed for the US auto industry.

Can politicians cost-effectively manage both a successful bailout of the US auto industry, while increasing fuel economy and reducing emissions?

More important, if Congress is going to invest many billions more of tax payer money into the US auto industry, shouldn't fuel economy requirements be even more stringent than new CAFE regulations? For instance, shouldn't a massive bailout plan be structured around a real world plan to end foreign oil dependency by, say, 2025?

UK - Cost, not environment, drives consumers

Global warming not enough for most consumers

US studies have indicated that a significant percent of Americans are worried about global warming, foreign oil dependency, or both. Unfortunately, despite this worry, the majority of those concerned about these issues are only willing to buy a car that helps fight these problems if it makes obvious financial sense.

Well, auto consumers in the UK aren't much different.

Covering the study, GCC notes, "While 20% of Britons are now saying they look at CO₂ levels when buying a new car, the survey found that 75% of motorists would purchase a lower-emissions car only if it saved them money. Almost two-thirds of people surveyed (61%) believe that cost is the most important consideration when others buy a more environmentally friendly car."

OPEC cuts fail to stop oil crash

The crash before the storm?

Despite a significant cut in oil production by OPEC, oil prices are down more than $3.00 today as I write this post. Likewise, gas inventories have grown and cheaper gas is inevitable. 

Ironically, for now, this price decline might not mean much to consumers whom are fearful of a deeper recession. Thus, a rush back to guzzlers is probably unlikely. Likewise, automakers have made at least a partial commitment to reduce the size of their SUV and truck fleets. So, it seems, we'll never fully go back to our gas-guzzling ways.

Hence, in 2020, will America still be just as dependent on OPEC, or almost free of OPEC dependency? 

Foreign oil dependency: It's in the government's hands

Converting a Prius to a plug-in Prius

A lot of Toyota Prius drivers, as well as the owners of other hybrid cars, can't wait to be able to plug-in their hybrids. Plugging in significantly increases fuel economy and, therefore, significantly reduces both carbon and foreign oil footprints.

Sadly, however, all hybrid drivers combined make up a minuscule percentage of American drivers. Converting all of these drivers into plug-in hybrid drivers would have very little overall effect on either global warming or foreign oil dependency.

Many more need to be converted into hybrid vehicles and other fuel efficient technologies. FINISH: Foreign oil dependency - It's in the government's hands

Chrysler CEO warns of battery dependence

The battery-powered EcoVoyager

Chrsyler CEO, Bob Nardelli, told CNBC TV this evening that "great synergies" existed for automotive industry consolidation because of the financial environment, but he would not discuss a possible merger with GM.

Nardelli also claimed that new CAFE standards had created a "tremendous financial burden" on the automaker, and that it was important that America didn't turn foreign oil dependence into dependence on foreign batteries.

While I'd rather be dependent on foreign batteries than foreign oil any day of the week, if Detroit had taken some leadership on hybrid cars, this would be a non-issue.

How much lower can gas prices go?

A Saudi Arabian oil refinery

On Friday I was shocked to hear that world-wide oil demand is down to its lowest levels in 15 years. Thus, OPEC is considering production cuts to stop falling oil prices. Yet, if the now world-wide recession sticks, can oil prices go anywhere but down until an economic recovery occurs?

In the last month the price of gas has dropped $.32 cents to $3.35. A year ago the price was $2.76. How soon, if ever, will that price be breached?

New tax credits for Non-plug-in hybrids needed?

Tax credits helped drive the Prius

There is no doubt that tax credits for hybrid cars, especially the Toyota Prius, helped sell these vehicles. But, are new tax credits needed to keep moving these vehicles?

Probably not, considering that most hybrid dealers have been adding massive dealer markups to these vehicles. Of course, if the economy keeps tanking all car sales will suffer.

Still, what about a tax credit for non-plug-in hybrids that rewards significantly higher fuel economy - say for hybrids that achieve at least 60 or 70 mpg combined fuel economy? Or, at least a tax credit for plug-in conversions?

If Congress truly wants to end foreign oil dependency, isn't a more aggressive, comprehensive incentive program required?

Can OPEC affect US politics, automotive future?

Dirty politics?

OPEC is meeting today and there are many that are assuming that OPEC isn't going to do anything drastic, at least not yet. However, because of slim margins in world oil supply and refining capacity, OPEC - many analysts believe - can cut production and keep oil prices above $100 per barrel. Nonetheless, those same analysts believe the sweet range for OPEC is between $80 and $100. This keeps profits high for OPEC, and it reduces gasoline prices a bit in the US.

These analysts believe that OPEC is trying to help trend oil prices lower because high gas prices make alternative fuels and alternative technologies, such as hybrid cars and EVs, far more cost effective, which is a threat to OPEC.

Is OPEC powerful enough to stunt alternative technologies in the US, and are Americans foolish enough to fall for such a stunt?

Hybrid rationale: Oil-rich Arabs to buy Hummer?

Where gas guzzling is free

Since, according to Boone Pickens, the famous oil man, America's foreign oil dependency has led to one of the greatest transfers of wealth in world history, a few Gulf Arabs are interested in buying the most iconic gas-guzzling brand, Hummer. Ohhh, the irony.

And yet people that drive hybrid cars are the foolish ones, but sending the Gulf all our money and subsidizing their gas at our expense isn't a problem?

How many billions to bail out US auto industry?

A Hemi-powered hybrid

In recent weeks a lot of the mainstream auto press has come to the defense of the US auto industry claiming that no one foresaw $4.00 gas. No one except those with their eyes open.

Let's just be honest. The US auto industry built their entire business model around trucks and SUVs, period. For a plethora of reasons, US automakers wouldn't even try to compete with companies like Honda for the small vehicle segment, for fuel efficiency, even despite events like 9/11, Katrina, etc. which seemed to demonstrate quite clearly that oil dependence was leading to ever greater problems. Instead, US automakers blindly kept all their eggs in one very inefficient, but profitable basket.

Now that basket is broke and the eggs are cracked.

So, it will be up to Congress, with the help of US taxpayer money, to bail out the US auto industry, at least that's the hope of a non-partisan Michigan delegation, according to the DetroitNews. Billions in loans. Billions in tax breaks. Billions to retire old gas guzzlers. Almost a billion for a battery fund. Billions and billions to cover the costs of ignorance and denial.

Nothing like good old American free market lobbyism, I mean capitalism.

July 4th: Ready to celebrate our foreign oil dependence?

Let's celebrate Independence with dependence!

As I read Manny Lopez's article 'Made in America' often is foreign this morning, I was reminded of the 'Celebrate Foreign Oil Dependence Day' that this site promoted last year. As we prepare to celebrate our independence this 4th of July, I cannot help but ask, how independent are we really? Hopefully, this fourth of July reminds us of why independence is important and inspires us to revolt against our foreign oil dependence.

Why buy a hybrid vehicle?

Umm. Do you really need to ask?

That's a question I hear regularly. This morning a man asked this question and then provided a list of small vehicles sold outside the US that achieve better fuel economy than the Toyota Prius. Yes, most were smaller-than-the-Prius diesels, and they outperformed the Prius primarily in highway fuel economy.

So, why buy hybrid vehicles?

I say forget that a diesel vehicle could be a hybrid vehicle. Forget that even clean diesel is still dirty. Forget that it takes more oil to make diesel than gasoline, thereby offsetting much of diesel vehicle efficiency, at least for those concerned about oil dependency, especially foreign oil dependency.

I advocate for hybrid vehicles because neither diesel, nor gasoline, will ever end US foreign oil dependency. On the other hand, hybrid cars are all about batteries, and battery R&D will lead to 100 mpg hybrids, well over 100 mpg plug-in hybrids and full electric vehicles.

I mean, really, don't pollution, global warming and foreign oil dependency provide enough reasons to support hybrid cars?

The problem with US automakers

The poster child of denial?

As I've browsed through the news today, one headline stuck out: When pickup sales dived, automakers changed plans. The article explains how Ford (and GM) realized, way back in May, that small cars and fuel efficiency might be the keys to survival.

May, 2008? Hello? 9/11, War, Katrina, and you didn't believe the dangers of foreign oil dependency might force change until May, 2008?

A few months ago, a source inside GM told me that $3.00+ gas prices had been forecasted as a possibility by GM years earlier. Coupled with Toyota' hybrid success, this forecast moved GM to begin working on the Chevy Volt. That and Bob Lutz couldn't tolerate a company like Tesla beating GM to cost-effective electric vehicles. Of course, that didn't make large vehicles any less important.

The fact that it has been largely impossible for US automakers to steer away from such a heavy focus on large, fuel-inefficient vehicles - despite the obvious evidence - begs the question: What is wrong with US automakers? Certainly, cheap gas, the UAW, healthcare costs, etc. didn't make the job of change any easier, however, can these issues really justify such denial?

Oil tops $140, $7 gas by 2010?

Oil futures torching the economy

Oil futures topped $140 per barrel today for the first time ever. And as if the news couldn't get worse, a new CIBC study suggests that oil will hit $200 per barrel by 2010, equating to $7.00 per gallon gas.

Americans disappointed in US energy policy

Time for an energy revolution

Americans blame the federal government, foreign oil companies, Congress and Middle East tensions for the lack of a quality energy policy in the US according to a new survey reported on BehindtheWheel. Of course, we should probably be blaming ourselves a bit for thinking there would never be any consequences for guzzling foreign oil as if it was free.

While both Presidential candidates have announced plans to tackle this problem, can either really be expected to succeed without some serious changes in Congress?

Warren Buffett talks oil

Forget windfall taxes

Warren Buffet, an open advocate for Barrack Obama, is on CNBC as I write this post. Thus far, he has stated that today's oil prices are driven by supply and demand, not speculation. He said for everyone speculating that oil prices will go higher, another is speculating that they will go lower. Additionally, he called windfall profit taxes on oil companies a very bad idea. He claimed if you tax oil companies for windfall profits, then you should tax corn, copper and steel producers, for example, for windfall profits as well.

On a final, unrelated note, Buffett claimed the tax code needs to be reworked and that the super rich need to be taxed far more and everyone else, far less.

McCain offers prize to fight foreign oil dependency

$300 million for a new battery

If President, John McCain would like to create a $300 million prize for a battery that is at least 30 percent cheaper than today's and has "the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars." Likewise, he would give automakers a tax credit of $5000 for every zero emission vehicle.

I'm glad to see McCain focus some attention on this issue, but what about consumer incentives? Apparently, today's hybrid cars are worthless to McCain, so I guess McCain will just drill until the perfect solution is achieved?

Bumper stickers a sign of insanity?

But don't take away my guzzler

During the build up to the latest war in Iraq, there were protesters near my office every Friday. And, as I would watch some of these protesters arrive, I was shocked at how many drove SUVs, BMWs and other not-so-efficient vehicles with 'no blood for oil' bumper stickers. I could never understand how someone could say no blood for oil, but drive a gas-guzzler. Now I understand.

According to new research cited by Edmunds, those with bumper stickers on their cars are more likely to engage in road rage. So, I guess those hypocritical protesters couldn't help it, they were just crazy?

What if we drilled offshore 20 years ago?

Katrina nailed rigs, but they didn't spill

What if America had drilled offshore for the last few decades, would America be as dependent on foreign oil as today? I have no idea, but I'd bet that we'd be in the same situation. Nonetheless, there are many Americans - probably not a majority - whom believe that greens are to blame for not allowing any drilling. And, what, other than foreign oil, has replaced this lack of drilling? Thus, when greens talk about global warming, these constituents do not trust them.

So, why not open up some drilling, on the condition that there is guaranteed money for other alternative energy products? While Democrats keep claiming we can't drill our way out of foreign oil dependency, you can't do nothing and end foreign oil dependency either. The job of Congress is to create consensus-driven legislation, not to just blame the other side and never accomplish anything.

Plug-in hybrids: The key to both biofuels and the grid?

Should plug-ins be an integral part of energy policy?

Blackouts. Every summer, at least once, I come home to a defrosted freezer thanks to a blackout. But, what if a number of Americans drove plug-in hybrids? On days when electric loads were getting too high, the grid could tap into numerous plug-in batteries and avert a blackout, and give me a fat paycheck - helping to offset the costs of my battery. Smart legislation could make that happen.

Likewise, the world now knows that ethanol is not going to end foreign oil dependency, but cellulosic ethanol and other biofuels still have potential, but limited potential. However, a bio-fueled plug-in hybrid would need very little liquid fuel on a day-to-day basis. Thus, smarter biofuels coupled with plug-in hybrid technology could be perfectly complimentary.

Plug-in hybrids can help radically change America's energy paradigm, but such a task will require a new, comprehensive energy policy. Sure it might be expensive, but isn't national security and a technologically-advanced economy worth the costs? Isn't it time to DEMAND this from our well-financed politicians?

Enough? DOE gives $30 million for PHEV projects

Time to get real about energy

The US Energy Department has given the Big 3 $30 million dollars to help fund some plug-in hybrid vehicle projects. The Big 3 had sought $500 million (more).

Wow, the US spends billions every year just on the coast guard and military costs of securing oil tanker lanes - a sum not paid at the pump, but rather through hidden taxes. Yet, the government can only spend $30 million on the technology that has the potential to end foreign oil dependency altogether?

Foreign oil: $40+ billion fricken dollars per month

Foreign oil profits to buy Chrysler building

$40+ billion per month. That's the cost of foreign oil dependency. Sadly, that doesn't even include the billions per year that the US spends on Coast Guard and military costs to secure shipping lanes for oil tankers. Then, add in war costs, and the amount of money being 'exported' to major oil exporters isn't just alarming, it's disgusting.

Congress can talk about exporting jobs, outsourcing, etc., but imagine what Congress could accomplish by funding a revolution against energy dependence. I don't just mean tax credits for hybrid cars, I mean what if the US had invested that kind of money into solar power, wind power, smarter biofuels, etc - talk about jobs and exportable technology! Unfortunately, Congress - both Democrats and Republicans - have just been too busy eating lobbyist-funded pork.

We, the people, have allowed and enabled politicians to sell out America in the name of militarily-secured, cheap foreign oil. Has it been worth it? Are we going to do anything about it?

Fear pushing oil higher?

What happens to oil if Israel attacks Iran?

As I write this, oil has just shot up to almost $139 per barrel, based upon almost no new news, except for the latest sabre-rattling between Israel and Iran. Many are calling this latest run up in prices pure speculation. Maybe, but if Israel and Iran start fighting, it is easy to imagine much higher oil prices.

I can see it now, a $10,000 Prius dealer markup.

Oil glut 2011: A real hybrid killa?

Hybrid demand: Oil giveth, oil taketh away?

Just finished watching some great CNBC coverage on oil and it really made me hone in on two thoughts. First, oil traders have not factored the possibility of hurricanes into the current price of oil. So, if a hurricane hits the Gulf, expect jumps in gas prices. If a hurricane hits hard, plan on moth-balling your car for a few months. Second, most oil experts believe that an oil glut is inevitable once oil companies begin converting dirtier oil resources into refined product, though many predict such a glut is still 2 to 3 years away. Ironically, that potential oil glut could coincide quite nicely with the first generation of plug-in hybrid vehicles.

Will a $40,000 Chevy Volt, for example, still resonate with consumers if oil takes a big hit and gas prices suddenly drop significantly?

Kaizen: America's oil crisis

Crisis is simply an opportunity for innovation

Tonight CNBC will host a segment, America's Oil Crisis, a name that I find a little funny. I don't see today's oil situation as a crisis, but rather an opportunity for change. America needs a real energy policy.

Ultimately, cheap oil has retarded American innovation. We've been fat, dumb and happy gas-guzzlers. Yet that cheap oil has only been possible because of diplomatic collusion with dictators and other repressive regimes. Likewise, while oil has been cheap, the US has never added the cost of military protection of oil to pump prices - we pay that cost in taxes and wars.

The other day a venture capitalist was on CNBC discussing the significant amount of capital that is pouring into energy efficient solutions, such as solar power, alternative fuels, transportation, etc. He noted, however, that a big drop in oil prices would significantly reduce this capital. Now that would be a real crisis.

Oil: Democrats are morons

Of course, Republicans aren't any better

Led by Democrats, today a Judiciary Committee is going after oil companies and traders to reduce the price of gasoline. At the same time, many of these same Democrats are calling for the US to get off foreign oil. So, their plan is to 'manage' the price of gasoline lower to reduce foreign oil dependency?

High gas prices are changing consumer behavior in a big way. We're going smaller. We're taking public transportation. We're buying hybrid cars and other more fuel efficient automobiles - something Congress has never been able to accomplish, despite spending billions of tax payer dollars for this purpose. Even more important, massive amounts of capital are flowing into R&D for foreign oil dependency-fighting technologies.

Nothing will get America off foreign oil faster than high prices and new technologies. Ultimately, high gas prices, not Congress, are pushing America towards intelligent behavior. Yes it hurts, but in the long run, we'll be better off, unless Congress again screws it up.

Can disincentives get the US off oil?