Obama, McCain abandon energy stances

High oil prices reflect a supply and demand problem in the market. The only problem is people pick on the wrong commodity. There don't seem to be shortages of oil. The problem is that the dollar under the Bush Administration has fallen about 50 percent. There is an over supply of dollars in the market with no comparable demand for dollars. To reduce the price of oil the dollar needs to be strengthened. That means Congress needs to stop deficit spending and the Federal Reserve needs to raise interest rates to at least 25%. This would drive the economy into a deep recession and dry up easy credit as we know it. The only other plan of attack is to hyper-inflate the currency...which will drive prices to unbelievable levels. But this is the most likely exit that the Federal Reserve and Congress will take. "Inflate of Die!" is the unspoken motto of the Fed. Remember the Fed has only two weapons in its arsenal: Inflation and Blarney. Every fiat currency system ends in hyper-inflation. The dollar won't be any different. What a joke our nation has become.

What about a windfall profits tax is a tax that the oil companies will pass on to the consumer? What about a windfall profits tax that will discourage oil companies from developing new oil reserves as happened in the past? Why do some folks on the left feel that all social, political, and economic ills are solved with a tax. Is there no forward thinking on the left as it relates to oil and economics. The current oil problem is a worldwide problem - will Mr. Obama propose a worldwide windfall profits tax? The problem is the demand supply paradigm. The world is using more and more energy and the world will increase its energy consumption of all types measured in BTU's by 146% over the next twenty years. Unless we start to drill for and pump our domestic oil and natural gas resources we will suffer economic disaster. Currently we send $500,000,000,000 - yes $500 Billion - to foreign powers each year and will send even more in the future if we do not drill here now. This is a national security issue. Just as Obama does not realize that terrorism on a worldwide and theocratic scale requires a national defense response rather than a police investigation response, he does not realize that energy, self sufficient energy, is what made this country great. He does not realize that renewable energy is not ready to fully power this nation now and will not be ready for twenty years. . Read "Why We Must Drill Now and Drill Here!" at: http://brokengovernment.wordpress.com/2008/06/16/why-we-must-drill-now-and-drill-here/