Thursday, May 08, 2008

Fuel Prices & Political 'Solutions'

The rising cost of oil seems to have turned US politicians into idiots, as opposed to being exponents of Solomonesque wisdom that we expect them to be. First up Hillary Clinton's ludicrous proposal, sadly also acked by McCain, for a 'tax holiday' for a couple of months which has been universally panned. Now the Senate Democrats have come up with the brilliant idea to combat fuel prices by er raising taxes on the oil companies. It is, in many ways, impressive that two contradictory can both be so idiotic, you'd imagine that by dumb luck one proposal would be a good one.

This comes down to the mistaken idea of the left that every 'problem' requires massive government intervention to provide a 'solution'. Fuel prices are rising and the only thing that will change that is increasing the supply, and the Democrats almost universally oppose oil exploration in Alaska, or lowering demand which the market is taking care of without the need for government imposed 'solutions'.

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