Typical liberal thinking.

Democratic presidential hopeful John Edwards says a wave of mergers in the oil industry should be investigated by the Justice Department to see what impact they have had on soaring gasoline prices.

During a campaign stop in Silicon Valley Thursday, Edwards planned to berate the oil industry for “anticompetitive actions” and outline an energy plan he says would reduce oil imports “and get us on a path to be virtually petroleum-free within a generation.”

Because the two dozen state and federal investigations of the oil industry over the past two decades just weren’t enough. One more should do the trick, right?

And just in case the investigations don’t help to reduce the cost of gasoline to five cents a gallon, how about some proposals that will surely drive down costs:

An increase of federal auto fuel economy requirements to 40 miles per gallon from the current 27.5 mpg by 2016.

Nothing like arbitrary government requirements to drive down costs. The good news is gas prices will go down 1/3 of one cent… the bad news is you won’t be able to afford a car to put it in.

Expansion of the use of biofuels such as ethanol, including a requirement for oil companies to make available E-85 fuel (which has 85 percent ethanol) at a quarter of their stations. Edwards wants all new cars to be able to use E-85 by 2010.

And you won’t need that over-priced car to go grocery shopping because you won’t be able to afford corn or corn-based products anymore, either.

Mandatory restrictions on emissions of carbon dioxide with an aim to cut CO2 and other greenhouse gases by 80 percent by mid-century.

More and more restrictions on private industry… that’s a surefire way to keep prices low, right? I mean, surely the manufacturers wouldn’t dare pass on the cost of compliance to the consumers now would they?

Creation of a $13 billion energy fund from the sale of greenhouse gas permits and ending some tax breaks for the oil industry. The money would be used to support biofuels and conservation technologies.

Oh, like the carbon offset project. I wonder what kind of stake Al Gore has in the company selling these permits.

Well as long as Edwards and other Democrat candidates are proposing that government regulations and control will help the economy, let’s keep an eye on other countries that followed this model… like the Soviet Union and…. wait, what?

1. Well, since most Americans don’t consider the unintended consequences you have spelled out, many people would hear this rhetoric and think “great”.

   Listen, gas is moderately more expensive right now, and will likely continue to climb as long as our policies prevent tapping new reserves (ANWR, coastal) and we don’t build more refineries. We have a limited supply with an increasing demand….guess what that leads to?

   Comment by thegentlecricket — 1:31 pm
   

2. John Edwards’s voting record on business and consumers can be found at: John Edwards’s Voting Record

   John Edwards’s history of speeches on the oil industry can be found at: John Edwards’s Record of Speeches

   John Edwards’s ratings from special interest groups on business and consumers can be found at: John Edwards’s Interest Group Ratings

   Project Vote Smart produces the National Political Awareness Test (NPAT), which essentially asks each candidate “Are you willing to tell citizens your positions on the issues you will most likely face on their behalf?” You can find John Edwards’s responses to the NPAT at: John Edwards’s NPAT

   For more information on John Edwards’s position on business and consumers please visit Project Vote Smart or call our hotline at 1-888-VOTE-SMART.

   Comment by Project Vote Smart — 10:59 am
   

3. TGC, there is no amount of reserve tapping that can keep up with demand. It’s not just the US, it’s China and India that need oil. Big time. The only solution, is to reduce demand.

   “Nothing like arbitrary government requirements to drive down costs. The good news is gas prices will go down 1/3 of one cent… the bad news is you won’t be able to afford a car to put it in.”

   Only if you insist on buying American. 40 mpg is what a Volkswagen Golf needs. Cost? Under 20K. Toyota Corolla can do it to - for 16 K. Honda’s Civic too. Then there’s hybrids and diesel cars. It’s not that hard, and wouldn’t be the end of the world. It would be the end of Detroit, perhaps.

   Personally I think that lifting the existing mileage requirement is useless. Just reclassify vehicles according to use in stead of construction, so that all the SUVs count under the existing CAFE rules, if they are used as normal cars.

   But I’m all for doing it via the marketplace. Push the prices of gasoline up to 6 or 7 USD per gallon like they are in Europe, and let the market do its work. Increasing the price is easy: just require gas to be cleaner (less sulfur etc).

   Comment by endorendil — 3:51 pm
   

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