George Stephanopoulos does not let up! Yeah, not what I expected either.
What’s interesting is that she talks a lot about “big oil” pushing these votes for drilling yet she never mentions anything about the powerful environmental lobby that line the pockets of Democrats, like herself, that prevent these votes from taking place.
(See 2nd half of the interview below the fold) 
Does the will of the people come into the equation at any point here? This woman is a disaster.
Great observation! She will not let it come to a vote because opening up drilling would certainly pass any House vote right now and she does not want it. The implication are really staggering.
A couple of quick thoughts:
First off, the message sent to the market if Congress opens up exploration and drilling will drop the price of oil and gas significantly and immediately. Just as President Bush “talked down” the price of oil a couple of weeks ago.
Opening up the strategic oil reserve is a temporary and worthless effort. Yeah, you can open it up to increase supply temporarily but then you have to go back into the market to fill it back up which then increases demand right as the extra supply is being stopped. Terrible idea and it’s for EMERGENCIES. Like Iran cutting off access to shipping lanes or something.
Lastly, the Democrats are going to use the high gas prices as a weapon against the Republicans as they vye to stay in the White House. They have NO incentive to let gasoline costs come down and thus loosing that issue as one they can leverage negatively. Politics is more important than the will of the people in Pelosi Land.
SPR was created in case OPEC decided to turn off the spigot again like they did in 1973 and 1978, not to jiggle the handle in the commodities markets.
There is a possibility that the weight of the price of oil/gasoline becomes too great for the Dems to head-fake on before the elections. I get the feel that several Dems would prefer to be voting for opening up the Outer Continental Shelf before the elections, but they will certainly not buck the leadership to move for it.
But with our market correction a couple of weeks ago probably killed that possibility.
It’s a market correction, but it’s still expensive. What is bad is if/when fuel drops back below $2.99 per gallon people will think its a bargain. Not that many years ago (3 in fact) $1.99 was considered “high”.
Has our wages and general economy inflated that much since then? Hardly not.
The reason that it is a market correction is that there has not been anything in the fundamentals to really change the direction–though decrease in demand is being talked about today.
This, by the way, is bad news. I like the price of gas going down, but when it comes due to demand decrease, that is because commerce is not going on and that means softness in the economy.
That is why increasing supplies is so important–we want demand to increase and for the prices to stay low–that encourages our economy to expand (which strengthens the dollar, etc.)
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