This is a wonderful piece.
David Vitter Has a New FetishPosted June 20, 2008 | 09:32 AM (EST)
Read More: David Vitter, David Vitter ENOUGH, Energy, Energy Policy, ENOUGH Act, Enron, Gas Prices, Karl Marx, Offshore Drilling, Oil, Oil Drilling, Oil Prices, Vitter ENOUGH Act, Politics News
"Fool me once, shame on -- shame on you. Fool me -- you can't get fooled again." -- The President of the United States of America
Why have gasoline prices doubled in a year? Demand hasn't doubled. Supplies are the same. I have this horrible feeling -- having lived through the 2000 California electricity crisis -- that we're being gamed. Back then, as now, we were told that the source of the problem was simple: A sudden -- but perfectly natural -- imbalance in supply and demand. And the solutions were simple too:
1) Eat it. Pay up, quit complaining, and learn to passively enjoy the mysterious jerks and undulations of the free market, like listening to your roommates have sex.
Or:
2) Drill.
Back in 2000, Californians were also introduced to two ideas about electricity that have come back with a vengeance with gas:
1) Not only is there nothing wrong with higher prices, they actually prove that the market works.
And:
2) The energy companies would love to charge less, if only the Democrats and the environmentalists would change a few laws.
Try keeping both of those ideas in your head at the same time. ExxonMobil has a sacred obligation to its shareholders to charge the maximum price the market will bear and they'd cut prices in a second, as a present -- as patriots -- if you'd just let them bespoil Alaska.
I can't completely reconcile those theories, myself. I should probably listen to more talk radio. Except the radio's in my car, and I can't afford to drive.
So Californians paid high prices for power. We're still paying. And we threw out the governor and replaced him with this kind of wizened homunculus who used to play robots. But that's neither here nor there. In 2002, after the crisis passed, we found out it had had an even simpler cause than we'd thought:
It had been entirely cooked up by some company in Houston called Enron.
Fool me once and -- uh -- hasta la vista! I'll be back!
Rest of article at
http://www.huffingtonpost.com/chris-kelly/david-vitter-has-a-new-fe_b_108244.html(worth reading!)