Friday, October 27, 2006

Mark my words, if the Dems manage to win either the House, the Senate, or both, you will see investigations into the numerous spikes in gas prices, and I guarantee an Enron-type scandal will be unearthed (or worse). This is precisely what happened in the wake of the California "energy crisis" once Jeffords bolted the GOP and turned the balance of the Senate to the DEMS in May of 2001. As one might recall, the shortages in California began in February of 2001, not a month after Bush's inauguration. Why? In my mind, these folks knew they now had political cover and saw an opportunity to manipulate supply. And that's exactly what they did. And the excuses we hear now about the sudden spike in oil prices were similarly outlined back then. As if energy use suddenly went sky high after January 20, 2001. Note: there were dire predictions for that summer, when people would be using more energy for air conditioners, etc. Didn't happen. Why? Their political cover was gone once the Senate went to the opposition. The crisis was over by June, and Enron's story broke a few months later. Think elections don't have consequences?

The folks in that industry who engaged in the practice of contango can try and cover up their profiteering under the rubric of "trying to stockpile in anticipation of the hurricane season, the peak driving season, China, India, or blah blah blah," but I'm telling you: no prices in any goods go up that fast relative to an otherwise stable economy unless there's some serious playing going on. They were gambling, pure and simple. And, for a time, they made a killing off of it, as now evidenced by stories coming out this week such as this one.

And why do you suppose the prices are going down now? No one will be able to prove collusion with the folks that give them political cover, and the need for things to, um, cool down come November. But I choose to believe the worst case scenario, because if it is not clear by now how evil our President and his Administration, and the right wingers in Congress are, then when will it be? I think (hope) the nation is finally growing tired of the bald faced lies that stream out of the White House like so much spam. I can only hope.

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